Sustainable Business Strategy Report

This report analyzes sustainable business strategies, focusing on the Confederation of British Industry (CBI). It examines the concept of sustainable development, the forces driving change (economic, social, technological), and the impact of sustainability issues on businesses. The report delves into how CBI can extend its operational boundaries through sustainable practices, including supply chain management and product life cycles. It also discusses the positive impact of sustainability on business structure, management, and risk mitigation. The report concludes by emphasizing the importance of integrating sustainability into strategic planning to achieve organizational goals. The provided content includes a table of contents, introduction, three tasks with detailed analysis, a conclusion, and a list of references.

Sustainable Business Strategy

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1.1...........................................................................................................................................1
1.2...........................................................................................................................................2
1.3...........................................................................................................................................2
TASK 2............................................................................................................................................3
2.1...........................................................................................................................................3
2.2...........................................................................................................................................4
TASK 3............................................................................................................................................4
CONCLUSION................................................................................................................................5
REFERENCES................................................................................................................................6

INTRODUCTION
Sustainable business strategy concept can be stated as an effective and powerful way of
defining ideas. Further, business can develop its sustainability in order to create a profit for its
shareholders in regard to protect the environment and enhancing the lives of others who interacts
with them. However, a sustainable business provides an excellent chance of being highly
successful tomorrow as compared to today and attain desired targets (Ghosal, 2015). Through
carrying out effective research it can be analyzed that around 70% of the organizations
undertakes sustainability concept within its environment as a management agenda and helps in
translating business into national practice. In the present study, Confederation of British Industry
(CBI) has been undertaken in order to raise the awareness of sustainable development issues.
TASK 1
1.1
The concept of sustainable development can be stated as the ability to meet the needs of
current generation without affecting the needs of future generation. Thus, businesses are focused
towards developing effective sustainable development measures within business so that they can
create effective use of resources in order to attain desired goals. In the current era of
globalization, there are different businesses entering into international market, thus it is essential
for them to analyze the meaning of sustainable development agenda so that they can recycle the
waste resources and safeguard the environment in order to not pollute it (Bocken and et. al.,
2014). However, sustainability is considered as another aspect of good business practice.
Management of Confederation of British Industry is required to be committed towards
contributing a more sustainable world.
Agenda 21 Earth Summit has been adopted which is a voluntary implementation of
action plan so that businesses are focused towards conserving and protecting the environment
resources in order to safeguard the future generations. However, it is adopted by every
organization operating within UK and thus helps in protecting the environment from affecting.
The agenda involves different issues such as climate change, energy issues, population growth,
social inequality etc. which is faced by CBI. Hence, in order to overcome such challenges it is
essential for firm to maintain effective sustainable environment and achieve desired profits
(Boons and Lüdeke-Freund, 2013). Moreover, UK government also develops different laws and
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agenda so that they are able to protect the environment from pollution and protect it for future
generation.
1.2
Within the sustainable business environment there are different forces for change which
helps in protecting and conserving the interest of society and attain desired objectives. It involves
economic, social and technology which helps business to change its business environment and
attain success (Welford, 2013). However, all these factors help business to maintain
sustainability and undertake innovative technology so that firm minimizes wastage and reduce
pollution to achieve desired goals. Following are the forces of change-
 Economic- It is essential for organization to undertake different ways through which CBI
can grow and develop its opportunities in market and does not affect the economic
condition of firm. Through implementing this factor it assists firm to develop sustainable
business environment and achieve organizational goals. CBI undertakes economic
sustainability methods so that it assists business to attain sustainable profits and do not
waste available resources (Iles and Martin, 2013).
 Social- Furthermore, it is essential for business to adopt social and cultural change
method that helps firm to overcome competitive strategies and effectively survive in
competitive market. Further, CBI also does not make any differentiation among its
employees and provide them equal opportunities. It helps firm to minimize social
inequality and use optimum resources through not polluting the environment adversely
(Boons and et. al., 2013). However, management of CBI ensures that through
maintaining proper sustainable environment it influences upon the business and does not
impact its cultural or religious environment.
 Technological- CBI implements innovative and updated technology that helps firm to
grow and develop its business in regard to attain business objectives. Management of
firm implements effective pollution control methods that assists in safeguarding the
environment and thus do not pollute it (Gamble and Thompson Jr, 2014).
1.3
Following are the impact of current sustainability issues upon different business
organizations-
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 Social attitudes- CBI needs to undertake effective social attitude so that it assists firm to
attain high profitability and sales. In regard to this it is crucial for enterprise to maintain
effective social responsibility and does not impact the society. Cited firm is required to
implement effective strategies so that they can protect the environment and fulfill the
society's interest (Slack, 2015).
 Interests of consumers- CBI also develop its focus upon fulfilling consumer’s interests
so that they can assist organization to attain desired targets. Management of firm is
required to identify the interest of consumers and does not influence them in order to
satisfy their needs. However, through understanding the interest of society and protecting
individual's interest assists them to safeguard their needs. Business uses effective
measures in regard to protect the interests of consumers and thus use proper sustainable
resources and attain desired targets (Pagani, 2013).
 Legal and regulatory framework- It is another issue that possess wide impact upon the
business of CBI and thus it is essential for management of firm to maintain proper legal
and regulatory framework so that desired results can be carried out successfully. Further,
regulatory framework tries to maintain close watch upon the business operations and thus
tries to regulate the operations of firm in order to make them sustainable and protect the
environment (Smink, Hekkert and Negro, 2015).
TASK 2
2.1
Sustainable business environment helps firm to extend its boundaries in regard to
optimum utilization of resources and attain desired success. However, business helps in adopting
effective sustainable environment so that it assists business to grow and move forward to a
distinct level. Thus, it helps CBI to make full utilization of resources through adopting
innovative technology and do not pollute the environment of business. Further, business also
takes into account of different external factors such as suppliers, government, competitors etc.
All such forces help business to extend its boundaries and achieve desired results (Jeston and
Nelis, 2014). For instance, it is essential for CBI to implement innovative techniques that helps
in producing eco friendly products and does do not pollute the environment.
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CBI is required to consider effectively the whole supply chain in order to focus upon it
and thus assists business in extending its boundaries of operations. Hence, it helps organization
to produce effective products and does not waste resources in order to attain desired results.
Company adopts effective supply chain system so that products can be recycled and used in
future as resources are scarce and wasting it can affect the growth and development of country.
Company is required to develop effective product life cycle stages so that from introduction
stage to declining stage it helps in maintaining a sustainable business environment and attain
huge growth (Bocken, Rana and Short, 2015). Hence, all these factors of CBI helps in extending
the business boundaries in the form of expanding the market share and customer satisfaction
through using sustainable business environment.
2.2
CBI implements positive impact upon its business structure in regard to attain business
objectives. However, it leads to change in the management and leadership that help business
more to undertake effective tactics at the time of introducing varied strategies in regard to
implement the same and attain sustainability. Management of CBI is required to develop
effective sustainable business strategy in regard to make optimum utilization of resources and
attain success. Further, implementing sustainability within business it assists in minimizing the
risk of firm and enhances the market share by satisfying the needs of shareholders and enhances
profitability (Chiarini, 2015).
Furthermore, business also needs to monitor and evaluate the performance according to
the sustainable issues as it helps in overcoming them and attaining desired success. CBI is
required to identify the marketing opportunities through implementing rules and regulations and
thus achieve desired profits. Also, CBI management n4eds to regularly check and review the
machines and equipment in order to maintain sustainable business environment and thus attain
desired success. Management of cited firm is required to plan in advance that business should
undertake effective sustainable environment and does not affect it. However, firm implements
effective legislation in regard to protect the consumers and maintain sustainability (Serafeim and
Eccles, 2014).
TASK 3
Covered in PPT
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CONCLUSION
From the above study it can be articulated that CBI needs to undertake sustainability
agenda so that effective strategy can be implemented in order to extend the boundaries of
business and attain business goals. Through developing sustainability environment within
workplace it helps firm to not affect the market environment and achieve business targets.
Business also implements effective updated technology so that it assists in growing and
developing the business opportunities. At the end, CBI implements different change strategies
within firm in order to formulate effective strategic planning and thus achieve organizational
goals.
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REFERENCES
Books and Journals
Bocken, N. M. P. and et. al., 2014. A literature and practice review to develop sustainable
business model archetypes. Journal of Cleaner Production. 65. pp.42-56.
Bocken, N. M. P., Rana, P. and Short, S. W., 2015. Value mapping for sustainable business
thinking. Journal of Industrial and Production Engineering. 32(1). pp.67-81.
Boons, F. and et. al., 2013. Sustainable innovation, business models and economic performance:
an overview. Journal of Cleaner Production. 45. pp.1-8.
Boons, F. and Lüdeke-Freund, F., 2013. Business models for sustainable innovation: state-of-the-
art and steps towards a research agenda. Journal of Cleaner Production. 45. pp.9-19.
Chiarini, A., 2015. Sustainable Operations Management: Advances in Strategy and
Methodology. Springer.
Gamble, J. E. and Thompson Jr, A. A., 2014. Essentials of strategic management. Irwin
Mcgraw-Hill.
Ghosal, V., 2015. Business strategy and firm reorganization: role of changing environmental
standards, sustainable business initiatives and global market conditions. Business
Strategy and the Environment. 24(2). pp.123-144.
Iles, A. and Martin, A. N., 2013. Expanding bioplastics production: sustainable business
innovation in the chemical industry. Journal of Cleaner Production. 45. pp.38-49.
Jeston, J. and Nelis, J., 2014. Business process management. Routledge.
Pagani, M., 2013. Digital Business Strategy and Value Creation: Framing the Dynamic Cycle of
Control Points. Mis Quarterly. 37(2). pp.617-632.
Slack, N., 2015. Operations strategy. John Wiley & Sons, Ltd.
Smink, M. M., Hekkert, M. P. and Negro, S. O., 2015. Keeping sustainable innovation on a
leash? Exploring incumbents’ institutional strategies. Business Strategy and the
Environment. 24(2). pp.86-101.
Welford, R., 2013. Hijacking environmentalism: Corporate responses to sustainable
development. Routledge.
Online
Serafeim, G., and Eccles, G. R., 2014. The Performance Frontier: Innovating for a Sustainable
Strategy. [Online]. Available through: < http://hbr.org/2013/05/the-performance-frontier-
innovating-for-a-sustainable-strategy/ar/1>. [Accessed on 18th March 2016].
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