Context of Business: Ethical and Sustainable Management Report

This report examines the context of business, focusing on the importance of managing responsibly, sustainably, and ethically within a global environment. It explores how technological advancements, corporate social responsibility, and changing market trends influence business operations. The report highlights the need for organizations like ASDA to adapt to these changes, considering cultural, economic, environmental, and social issues. It emphasizes the significance of ethical considerations and sustainability, underscoring the role of individual and organizational behavior in addressing social and environmental challenges. The report concludes that businesses must understand the dynamic nature of the industry and implement effective corporate social responsibility strategies to succeed in the global market, ensuring consumer values are respected and contributing to sustainable growth. References from academic journals and books are included to support the analysis.

CONTEXT OF BUSINESS

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Identifying and discussing the importance of managing responsibly, sustainably and behave
ethically in relation to cultural, economic, environmental and social issue...........................1
CONCLUSION................................................................................................................................3
REFERENCES................................................................................................................................4

INTRODUCTION
Business is a structured entity that aims to supply consumers with goods and services for
a profit. The availability and advancement of technology that has become much easier to do
business globally. The assessment of Context of Business aims to evaluate various factor that
positively and negatively impact the business that foster or hinder to do business globally. The
study will provide an understanding the dynamic and changing nature of businesses and identify
the future trend of the organisation within the global business environment. Along with it, it will
also identity the need for individuals and organisation to maintain ethics of doing business.
MAIN BODY
Identifying and discussing the importance of managing responsibly, sustainably and behave
ethically in relation to cultural, economic, environmental and social issue
For understanding the importance it is require have an understanding of the dynamic and
changing nature of businesses in the global environment.
In the changing and modern world the way businesses were carried out is drastically
changing. For the organisations doing business at global level is becoming so much easy (vom
Brocke, Zelt and Schmiedel, 2016). The organisation is changing in terms of the way of their day
to day operations, to reach consumers, the way of doing business, managing people and
managing change. The nature of businesses are changing from making profit to innovations,
ethically and sustainably responsible. The dynamic and changing nature of businesses in the
global business environment can be understand through various internal and external factors;
Technological advancement is one of the most considerable external factor that change
the way of doing business. The overall operations and presenting the products and services are
totally relies on new technologies (Souto, 2015). The future of organisation is mainly depends on
various technological elements comprise in businesses as well as it help the organisation to make
the competitive position in the global business environment. Technological advancement
improvise the raw material availability, transportation, etc.
The internal factors is; Corporate social responsibilities. The nature of business is
changing and they are becoming more responsible towards the environment and society (Lenssen
and Lenssen, 2018). For example; ASDA is a social and environmental responsible industry that
develop, imply and communicate various policies and programs in the industry such as; waste
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management, reducing carbon footprint, reducing pollution, etc. This is becoming not only the
responsibility but also becoming a future trend for industries that demanded in global business
market and is necessary to beat the competition and fulfilling consumer's need. It will enable
business to expand successfully and with the motto in the new market.
Along with it, the goals and objectives of the industry are being expanded from profit and
growth to providing quality products and services, being market leader, and service to society
and the businesses are becoming consumer-centred and expand their responsibilities to satisfy
the need of customers. The changing nature in business influence organisation to adapt the
changes in order to successfully operate in the global business environment. The changing nature
of the businesses are depends on the market trend or need and demand of potential consumers.
On the basis of changes, company is require to implement CSR strategies and expand
their policies that help the industry to overcome the issues regarding social, economic,
environmental in the global business environment.
The business is require to have an understanding of the ethical consideration and
sustainability in order to operate at global level. Ethics can be defines as a type of morals and
values that find appropriate and desirable by the individual and society (Crane, Matten and
Spence, 2019). It enable company to select between right or wrong action that is the most
important part while, companies are now a days operating at global level and they have proper
policies regarding CSR in the organisational structure. Along with it, it is significantly essential
for individual as well as organisation to manage sustainability and responsibly and to behave
ethically. This will help the company and the people working within the organisation to
overcome or handle social, environmental issues. Each and every individual in the organisational
structure is responsible to behave ethically and sustainably towards the society and environment
of the country. The behaviour is much need and expected from an industry to being responsible
towards the society. There are various techniques evaluated for improving social responsiveness
of the company such as; leadership, ethical structure, code of ethics, etc.
In the global business environment, company faces many issues regarding social,
environment, culture and economic and organisations are require to have an proper
understanding of the code of conduct of the specific country that help the organisation to
overcome the issues (Rowlands and Iles, 2017).
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For example; Any organisation at global or local level are require to maintain the values,
beliefs and attitudes of the population in the specific region for that purpose company adhere
corporate social responsibilities. Corporate social responsibilities of ASDA is concern with value
of company towards the society and being a good corporate citizen.
The social and cultural issues are require to handle by the organisation by properly
manage responsibly and sustainably and by behave ethically in order to ensure that consumer's
values and beliefs will not being hurt (Lenssen and Lenssen, 2018). On the other hand
environmental issues automatically overcome if company has proper CSR strategy and leader is
effectively direct the team of the company to change the way of every day function and operation
with other activities that will lead the organisation towards the sustainable growth.
CONCLUSION
From the above essay it has been summarised that global business environment enable
organisations to have an understanding regarding the changing trend and nature of the industries.
ASDA is required to have a knowledge about the future of organisations and should consider that
in their operations. It also has been evaluated that organisations are require to being socially
responsible and are required to implement and communicate corporate social responsibilities
effectively so that they are able to overcome, social, environmental and cultural issues globally.
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REFERENCES
Books and Journals
Crane, A., Matten, D. and Spence, L. eds., 2019. Corporate social responsibility: Readings and
cases in a global context. Routledge.
Lenssen, G. G. and Lenssen, J. J., 2018. Managing Sustainable Business in a Global
Context. Managing Sustainable Business: An Executive Education Case and Textbook.
Rowlands, K. E. and Iles, P., 2017. MANAGING IN A GLOBAL CONTEXT. Strategic Human
Resource Management: An International Perspective. p.466.
Souto, J. E., 2015. Business model innovation and business concept innovation as the context of
incremental innovation and radical innovation. Tourism Management. 51. pp.142-155.
vom Brocke, J., Zelt, S. and Schmiedel, T., 2016. On the role of context in business process
management. International Journal of Information Management. 36(3). pp.486-495.
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