Global strategy and sustainability

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Global strategy and sustainability Zara Consultancy Report Student SRN No: BP0277408 Date: 29 August 2023

Table of Contents • Profit aspect of the triple bottom line of sustainability • The people aspect of the triple bottom line of sustainability • The planet aspect of the triple bottom line of sustainability • Identify and analyze key ethical issues of the organization • Key ethical issues of the organization • Identify and analyze the key corporate social responsibility strategies • References

Profit aspect of the triple bottom line of sustainability • I n context with Zara, it is critically analyzed that for achieving • profits and sustaining higher growth, • the company can enable diversification strategies by facilitating vertical integrations. • Concerning this, it should adapt different retail clothing designs that have appeared on the catwalks (Martin Roll, 2021).

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Profit aspect of the triple bottom line of sustainability • The company has acquired a super-efficient fashion model as the main source of the competitive advantage and through this, all the styles are updated frequently and quickly. • It is determined that the organization is vertically integrated and is able to control all the business functions that bring products to the final marketplace. • By facilitating vertical integration, it became easier for incorporating sustainable practices through which Zara can monitor and control all the business functions that are involved in bringing the products to market (Greco et al., 2022). • Concerning this, it will be beneficial for the company to enable good relationships with all the suppliers and develop ethical and sustainable growth over all the competitors.

The people aspect of the triple bottom line of sustainability • By facilitating the triple bottom line, it is critically analyzed that the company can maintain sustainable growth by focusing on all the standards of the global fashion industry. • It is determined that the company should implement recycling and eco-friendly fashion ranges for countering the entire culture. • It is analyzed that the company should produce a maximum of the clothing products locally as it will help in reducing the carbon footprints and lead to a positive impact on all the working conditions (Park, 2016).

The planet aspect of the triple bottom line of sustainability • Since the period of the industrial revolution, it is identified that all the large business organizations are doing contribution to the reduction of pollution in the environment which is considered to be the main driver of climate change. • The company can sustain its growth by conserving water in the coming future (Jaron et al., 2022). It is determined that Zara should initiate a biological process as it will take less time as well as effort in comparison with other procedures like absorption as it will help in energy consumption. Furthermore, it is analyzed that Zara can also achieve sustainable growth by banning the harmful chemicals involved in the production procedure.

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Identify and analyze key ethical issues of the organization • In context with the fast fashion industry, Zara, it is analyzed that concerning all the environmental issues, the garments of the company are associated with several ethical concerns. • It is determined all the garments are made in sweatshops in which the workers who are underpaid get employed for long hours in unsafe conditions and often get exposed to harmful chemicals also that are used in textile production (Seo & Suh, 2019).

Key ethical issues of the organization • Another ethical issue associated with the company is the exploitation of some of the workers. • It is analyzed that there are some of the employees who have boycotted the company related to the working conditions as there are harsh conditions that are taking place in the organization. • The company is creating harm to some employees who are involved in the production of clothing items.

Identify and analyze the key corporate social responsibility strategies • According to Carroll’s pyramid model, for becoming socially responsible, an organization should meet economic, legal, ethical, and philanthropic expectations that are given by the community at a specific point in time. • Zara has always aimed to reach carbon neutrality, decrease environmental externalities and promote voluntarism among its employees (Harvey, 2022). • In context with the economic responsibility, the company implemented the strategy of balancing all the economic decisions with the effect on society

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Corporate social responsibility strategies • It provides different products and services that society requires and also initiates profit from continuing business operational practices. • The company initiated the strategy of increasing the recycled products so that the material cost can be reduced and benefits can be provided to society. • Concerning this, the company implemented a strategy of enforcing the care over all the intellectual property laws for protecting the rights of owners as well as the creators of inventions (Jiang, 2022). • In context with the ethical responsibility, the company developed a CSR strategy of adopting ethical labor practices for all the supply chain partners and using certified products for meeting fair trade standards. • The last one is associated with philanthropic responsibility in which Zara is getting indulged with the volunteer work being done and it dedicates some of the portions of revenue to charities. • It implemented a CSR strategy of voluntary assistance to both public and private educational institutions for making education affordable to all people (Berbiche, Hlyal & El Alami, 2020).

References • Harvey, M. (2022). Corporate social responsibility of Zara. Available through: https://www.essaypandas.com/case/13114-ZARA-Corporate- Social-Responsibility [Accessed: 23 January 2023] • Jiang, B. (2022). How Consumers’ Response on CSR Affects Brand Competitiveness in the Fast Fashion Industry——Case Study of Zara (Inditex) and H&M. Academic Journal of Business & Management, 4(1). • Berbiche, N., Hlyal, M., & El Alami, J. (2020, April). Exponential success through integrated supply chain optimization, ecomotional intelligence and reputation-based leadership: Zara model. In IOP Conference Series: Materials Science and Engineering (Vol. 827, No. 1, p. 012058). IOP Publishing. Martin Roll, (2021). The secret of Zara’s success. Available through: https://martinroll.com/resources/articles/strategy/the-secret-of- zaras-success-a-culture-ofcustomer-co-creation/ [Accessed: 23 January 2023]

References • Greco, M. F., Rizzuto, A. S., Zarà, M., Cafora, M., Favero, C., Solazzo, G., ... & Ruscica, M. (2022). PCSK9 Confers Inflammatory Properties to Extracellular Vesicles Released by Vascular Smooth Muscle Cells. International Journal of Molecular Sciences, 23(21), 1-5. Park, H. (2016). The triple bottom line of customer-centric sustainability. Available through: https://fashionandtextiles.springeropen.com/articles/10.1186/s40691-016- 0077-6 [Accessed: 23 January 2023] • Zara, C., Bellardini, L., & Oliva, F. (2022). Circular Economy, Corporate Sustainability Reporting, and Equity Risk: Evidence from European Markets. Corporate Sustainability Reporting, and Equity Risk: Evidence from European Markets (May 17, 2022). Inditex, (2022). Sustainability. Available through: https://www.inditex.com/itxcomweb/en/sustainability [Accessed: 23 January 2023] • Jaron, M., Lehky, M., Zarà, M., Zaydowicz, C. N., Lak, A., Ballmann, R., ... & Schubert, M. (2022). Baculovirus-Free SARS-CoV-2 Virus-like Particle Production in Insect Cells for Rapid Neutralization Assessment. Viruses, 14(10), 2087. • Seo, K., & Suh, S. (2019). A study on the characteristics and social values of vegan fashion in H&M and Zara. Journal of Fashion Business, 23(6), 86-100.

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