ENGT5219 Assignment A: Analysing a Sustainable Business

This report, submitted as part of the ENGT5219 module, provides an in-depth analysis of sustainable business practices. It begins with an introduction emphasizing the importance of environmental protection in modern business strategies. The main body explores various approaches to sustain...Read More

PROJECT A – ANALYSING
A SUSTAINABLE
BUSINESS

Table of Contents
INTRODUCTION...........................................................................................................................2
MAIN BODY...................................................................................................................................2
Approaches of sustainable development.....................................................................................2
Selection and application of two approaches..............................................................................3
CONCLUSION................................................................................................................................4
REFERENCES................................................................................................................................5

INTRODUCTION
In this modern and competitive era, the most essential thing for company is to protect the
environment and make the business strategies to protect the environment. in this modern and
competitive business environment it is necessary for business to continue as a sustainable
business. the present report will list out the different approaches of sustainable development and
further it will include application of two approaches to business.
MAIN BODY
Approaches of sustainable development
The triple bottom line (TBL)- as per the views of Treiblmaier (2019) TBL is a theory to
lead to sustainable development of the business. this is the theory which involves laying
emphasise over the three aspect that is economic, social and the environmental. If the companies
will be focusing on these three aspect, then this will improve the working efficiency of the
employees and the company to a great extent.
The five capitals- in accordance to this opinion of Lasrado (2018) this is a framework
relating to sustainability of business. under this approach the major focus is on understanding
sustainability by referring to the concept of the wealth creation or focusing on capital. This
involves focusing on five major capitals that is natural, human, financial, social and
manufactured capital.
Natural capitalism- with respect to the views of Piscicelli, Ludden and Cooper (2018)
the four principle of natural capitalism assist business in valuing all the resources properly and
focus on the increasing profits. Under this the major focus is on the using resources in efficient
and optimal manner and try to manage waste in effective manner.
Cradle to Cradle- by referring to the thinking of Evans and et.al., (2017) this is a
methodology which states that the waste of one product can become the food for the new product
life cycle. This theory states that the waste from one industry can become a raw material or some
important material for any of the other industry.
The circular economy- by referring to the views of Lahti, Wincent and Parida (2018) this
theory is the one which focuses mainly on the economic development which involves benefit to
society, environment and the business as well. This theory is focused towards the decoupling of
growth with help of consumption of finite resources.

The balanced scorecard- further from the analysis of the Nosratabadi and et.al., (2019)
the balanced scorecard is an approach wherein some indicators are being set in order to manage
the overall performance. these indicators may be like water, waste, emission, management of
resources and many others.
Selection and application of two approaches
From the above discussion it is clear that the use of the CSR and sustainable development
is very essential for proper and effective management of business. for the business to be
successful the most important thing is the effective use of approaches of sustainable
development. For this the Deeside Cereals Ltd will make the use of the following approaches-
The triple bottom line- this is an approach which majorly focuses on the effective
management of the three major aspect that is economic, social and the environmental. The major
reason for this is that when the company will focus on all these three aspect then this will assist
company in taking care of all the stakeholders of the business. the environmental impact of this
theory over working of Deeside Cereals Ltd is that this will improve the environment and its
condition (Ahmad and Wong, 2019). The major reason for this is that under this method the
company will lay more emphasis over the protection of the environment and this will create a
better working of the company. in addition to this the major responsibility of company under the
TBL is to include all these three aspect into the strategies of the company. the major reason for
this is that if the company will not make strategies for these three aspect then this will affect the
working of the company to a great extent. In addition to this there are also some of the risk being
associated with the use of the TBL. The major risk is that the changes in the environmental and
societal requirement.
The five capital- another major technique of sustainable development which majorly
focuses on the effective and optimal use of the limited resources of the environment. the business
cannot function without the use of the resources and if the company will focus on using the
resources in effective and efficient manner then this will increase efficiency and productivity of
company. the environmental impact of the use of this technique by Deeside Cereals Ltd is that
this will increase the optimum utilisation of the resources then this will increase the development
of the overall economy (Bocken and Geradts, 2020). In addition to this the major responsibility
of Deeside Cereals Ltd is that they must make the strategies in such a manner that all the
resources are being utilised in optimal manner. In addition to this another major responsibility of

the company is that they must try to distribute the profit in such a manner that all the five
resources or the capital are being used in proper and effective manner. Along with this there are
many risk also associated with the management of the resources. The major reason for this is that
competition is very high and all the similar companies require the same type of resources. Thus,
this is the risk as the other competitor can also try to use the same resources and this may affect
the working efficiency of Deeside Cereals Ltd.
CONCLUSION
In the end from the above study it is evaluated that in this competitivee world the
company need to do sustainable business. the major reason is that already the resources are very
limited and the users of the resources are very high. hence, for this reason it is necessary to have
sustainable business. the current report evaluated different approaches of sustainable business
like TBL, balanced scorecard, the five capital and many others. Also the report highlighted that
the major two approaches selected by company was TBL and the five capital as these are more
beneficial.

REFERENCES
Books and Journals
Ahmad, S. and Wong, K.Y., 2019. Development of weighted triple-bottom line sustainability
indicators for the Malaysian food manufacturing industry using the Delphi method. Journal
of Cleaner Production, 229, pp.1167-1182.
Bocken, N.M. and Geradts, T.H., 2020. Barriers and drivers to sustainable business model
innovation: Organization design and dynamic capabilities. Long Range Planning, 53(4),
p.101950.
Evans, S., and et.al., 2017. Business model innovation for sustainability: Towards a unified
perspective for creation of sustainable business models. Business Strategy and the
Environment, 26(5), pp.597-608.
Lahti, T., Wincent, J. and Parida, V., 2018. A definition and theoretical review of the circular
economy, value creation, and sustainable business models: where are we now and where
should research move in the future?. Sustainability, 10(8), p.2799.
Lasrado, F., 2018. Achieving Sustainable Business ExcellenceThe Role of Human Capital.
Palgrave Macmillan.
Nosratabadi, S., and et.al., 2019. Sustainable business models: A review. Sustainability, 11(6),
p.1663.
Piscicelli, L., Ludden, G.D. and Cooper, T., 2018. What makes a sustainable business model
successful? An empirical comparison of two peer-to-peer goods-sharing platforms. Journal
of cleaner production, 172, pp.4580-4591.
Treiblmaier, H., 2019. Combining blockchain technology and the physical internet to achieve
triple bottom line sustainability: a comprehensive research agenda for modern logistics and
supply chain management. Logistics, 3(1), p.10.