BUGEN 5930 Assessment 1: Reflective Report on Sustainable Business

This report provides a comprehensive discussion on company sustainability, focusing on the triple bottom line, which encompasses profit, people, and the planet, and the six forms of capital used by businesses: natural, human, social, manufactured, and financial. The report delves into the six phases of business approaches to sustainability, from non-responsiveness to strategic proactivity, and analyzes how companies can enhance their commitment to sustainability. It further illustrates the application of these concepts through case studies of businesses like Starbucks and Suncorp, highlighting their sustainable practices, such as Starbucks' water conservation efforts and Suncorp's community engagement. The report concludes by emphasizing the importance of sustainability in business for long-term value creation and the role of governmental regulations in promoting environmental compliance.

Introduction
This report brings out a discussion on company`s sustainability with the help of triple bottom
line, six forms of capital for sustainability. Further, the discussion has carried out some
practical examples on how those organisations have achieved sustainability for long term.
Sustainability, the Triple Bottom Line, & business
The triple bottom line in business covers several topics such as human, resources on business,
financial and the effect on all these factors on business. The concept is proposed by John
Elkington that studies the effect of different business functions in the creation of value for
business. Profit, people, and planet is recognised in triple Bottom line. I have grasped the
importance of this concept and how this concept is being used in business. This concept is
very much relevant in current scenario because high level of competition that enforces the
business to earn maximum that unintentionally or intentionally return to exploit planet or
people. Major challenge have become hindrances to business operations such as poverty,
peak oil, overfishing, climate resources, and resources depletion that have become more
complex. Organisations are under pressures in order to disclose the sustainability report,
which further leads to unplanned funding to channelize that was not previously planned. As
sustainability is, a major issue at global level but many countries have implemented many
required regulations in order to govern the business environment.
The Six Forms of Capital used by businesses
Natural capital- it is the stock of flow of energy, which produces services and goods. The
resources include renewable and non-renewable resources. It is not only based on production
of life itself. For instance- substances extracted from the earth should not exceed the
environment`s ability to absorb and recycle.

Human capital- This capital is based on people`s capital, skills, knowledge and innovation.
Those elements are needed to be productive. Enhancement of human capital with the help of
training and capital that add to the flourishing capital. For example- access to various
relationships and social participation throughout the life and achieve high level of standards
of learning and development (Singh, 2018).
Social capital- This is concerned with institutions that will further help to develop and
maintain the human capital by partnership with other groups. For example- Community and
society share the large stake that has positive values.
Manufactured capital- This capital comprises of fixed assets and material goods that further
contribute to production processes and putting the output itself such as tools and machines.
For instance- A business has to consider the entire infrastructure, processes, and the
technologies that can maximise the use of skills and innovations.
Financial capital- it plays an important role in the economy and also enabling the other types
of capital to be traded and owned. It is the representative of human, social, and natural capital
(Singh, 2018).
The six phases of business approaches to sustainability
This sustainability phase model describes six developmental phases which help in analysing
the company`s recent commitment and other habits related to human and ecological
sustainability. This phase is used to analyse the path that has been undertaken by the
company. The six phases are non-responsiveness, efficiency, sustaining corporation, strategic
proactivity. Rejection phase portrays strong belief regarding the maximisation of
organisational profitability. Human resources such as employees and subcontractors are
exploited at large level. This is extended stemming from ethnicity, proficiency, language and
gender (World Growth, 2011).

Non-responsiveness results from the lack of alertness and ignorance rather than emphasizing
on profitability. Human resource strategy and policies where community concerns are
ignored. Environment resources can be wasted and opportunities can be considered irrelevant
(Sage, 2018). Compliance is focused on minimising the uncertainty of failing in order to meet
the standards. Efficiency reflects the growing awareness, which can help the organisation to
attain the competitive advantage by implementing sustainable approaches. Strategic
sustainability includes making the concept of sustainability as a critical part of business level
strategy. The sustaining companies is such an illusion that is far from the reality as it
emphasizes on ideology of sustainable business. This includes equal opportunity and it has a
strong ethical position in the view of stakeholders. The company tries to help the society by
assisting through environmentally sustainable way (PepsiCo, 2019).
Examples of businesses successfully engaging in sustainable business
Starbucks have been complying with its CSR practises at its best. For example- Starbucks
have been accessing its raw coffee beans from the local farmers so that it can help them
financially. The organisation have been paying satisfying dividends that shows the certainty
and stability of the financial reports (GRIFFIN, 2009).

(Source: Dudovskiy, 2017)
From the above diagram, it represents that the average water usage on per square feet have
reduced in some of its stores such as in Canada and US. In 2014, the company strived to save
23% from the baseline level in 2008. LEED store contributes to take initiatives to save water.
Another example is the Suncorp bank that was established in 1902 and now it is fifth largest
bank of Australia. The company offers a huge range of services and products, which helps the
farmers and rural areas. It is an award winning company in 2016, which delivers excellent
solution to the partners and customers. This company also engages in local activities,
charities, events, and staff volunteering programs (Camilleri, 2015).
Conclusion
Triple bottom line is used so that a business can create sustainability. A business should see
the effect of its work from the broader perspective of adding to the value, which they create
for the society in regards to planet, people, and profit. The government of the countries have
also necessitates the compliance of environmental laws in an effective way.

References
Camilleri, M.A. (2015). Corporate Social Responsibility: Theoretical Underpinnings and
Conceptual Developments. Australia: Springer.
GRIFFIN A, (2009). New Strategies for Reputation Management: Gaining Control of
Issues, Crises and Corporate Social Responsibility.UK: Kogan Page Limited.
PepsiCo, (2019). PepsiCo-Corporate Social Responsibility. Retrieved from:
http://www.csrworld.net/pepsico%E2%80%93corporate-social-responsibility.asp
Sage. (2018). CSR &CSP. Retrieved from: http://sk.sagepub.com/books/sage-brief-guide-
to-business-ethics/n26.xml.
Singh, V. (2018). ROLE OF FMCG COMPANIES TOWARDS CORPORATE SOCIAL
RESPONSIBILITY (INDIAN INSIGHT). Retrieved from:
http://iaeme.com/MasterAdmin/UploadFolder/IJMHRM_07_01_002/IJMHRM_07_01_002.p
df
World Growth (2011). Corporate social responsibility. Retrieved From:
http://worldgrowth.org/site/wpcontent/uploads/2012/06/WG_CSR_Report_Annexes_
5_111.pdf.