Answered: Individually you will produce a…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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Question

Individually you will produce a briefing paper for a business outlining the steps the business could take to develop theirsustainability commitment and in particular, improve an element of their operations. You will need to select anappropriate and relevant business for this task.You will consider the pressures upon the business to become more sustainable, the challenges it might face, thedevelopments in the marketplace in which they operate and outline a strategic approach to making change withpotential targets and objectives.

FOCUS - All reports will be a) broadly focused on becoming more sustainable in the first instance and b) willsubsequently drill down on ONE OF THESE areas [unless a link is obvious]

AREAS - Energy use; Reducing plastic, Product redesign, Water use; Transport, pollution and the alternatives; Waste;Supply chains and their management ; Workplace issues ; CSR; Merchandising materials; Marketing Communications;or a company specific choice.

Expert Solution

Step 1: Define Business Sustainability or Corporate Social Responsibility (CSR):

Business Sustainability:

Business sustainability refers to the combination of monetary, ecological, and social contemplations into an association's methodologies, practices, and dynamic cycles. An all-encompassing methodology intended to offset productivity with an obligation towards the planet and society. Sustainable businesses try to limit their adverse consequences on the climate, advance moral and fair practices, and contribute positively to the networks where they work. Key elements of business sustainability incorporate natural stewardship, social obligation, monetary practicality, and long-haul flexibility.

Corporate Social Responsibility (CSR) :

Corporate Social Responsibility, often abbreviated as CSR, is an idea that depicts an organization's deliberate obligation to lead business in a way that is moral, socially mindful, and environmentally responsible. CSR includes considering the interests of different partners, including representatives, clients, networks, and the climate, past exclusively seeking after benefits. Organizations participating in CSR exercises might uphold altruistic drives, carry out strategic economic policies, guarantee moral work principles, and take part in local area advancement endeavors. CSR is a way for organizations to exhibit their obligation to moral qualities and contribute decidedly to society while building serious areas of strength for their standing.