...CORPORATE SUSTAINABILITY & HENKEL’S APPROACH There is a growing trend for big companies to use sustainable concepts as core business drivers For decades, many companies have typically responded to sustainability challenges by pursuing incremental operational improvements. But we are beginning to see an interesting new trend – businesses using sustainability as a tactic for long-term offense, rather than just short-term defence. Despite the uncertain economic outlook, leading international companies across diverse sectors are investing heavily in sustainable products and services. Others are making cross-industry partnerships to develop next generation products such as the elusive mass market electric car. Some are even enhancing their business models through mergers and acquisitions that seek to address, and capitalise on, sustainability trends. Drivers of Sustainability A number of factors are driving the adoption of corporate sustainability programmes in the global business community: * Regulatory Mandates: Growing regulatory pressures compel companies to reduce greenhouse gas emissions, industrial effluents, and other environmental hazards. * Operational Cost Efficiencies: Rising raw materials and energy prices incentivize businesses to invest in waste recycling, waste-to-energy, water conservation and related technologies. * Reputational Risks: Increasing scrutiny of corporate conduct induces managers to engage environmental,...
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...discussing about the Corporate Sustainability Reporting. The Sustainability Reporting Framework (G3.1) of Global Reporting Initiative (GRI) and the system oriented theories (Legitimacy Theory, Stakeholder Theory and Institutional Theory) are reviewed in order to explain and support the arguments of the reporting methodology. In addition, the reports of two multinational companies, Apple Inc. and Toyota Motor Corporation are inspected with the theories. It is found that both companies involved in multiple activities in promoting and educating the publics about their operations as well as the ways to protect themselves and the nature. It can be concluded that both companies abide the framework and theories to disclose information to the stakeholders. 1.0 Introduction Corporate Sustainability Reporting is becoming more and more important in research and in practice lately, as the consumers are becoming smarter compare to the eras before. Companies have the responsibility to disclose details in financing and operations in order to gain support and resources from the world at large to survive in the market. There are three important system oriented theories that helps in measuring the degree of importance and explaining the methodology in disclosing informations to all types of stakeholders. Two multinational companies that provides annual report and sustainability report are reviewed to help understanding the reporting method. 2.0 Purpose of Corporate Sustainability Reporting ...
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...100 years of Strength. Performance. Passion. Corporate Sustainable Development Report 2011 20 1921 1922 1923 1924 1925 1926 1927 1928 37 1938 1939 1940 1941 1942 1943 1944 1945 54 1955 1956 1957 1958 1959 1960 1961 1962 71 1972 1973 1974 1975 1976 1977 1978 1979 88 1989 1990 1991 1992 1993 1994 1995 1996 2005 2006 2007 2008 2009 2010 2011 2012 Holcim’s original cement plant in Holderbank in the Swiss canton of Aargau. 100 The new Ste. Genevieve plant of Holcim US in Missouri. Contents Introduction Performance against targets Chairman’s statement CEO interview Vision and strategy Q “Delivering value to your stakeholders is part of your mission. How do you achieve results while operating with sustainability and integrity? Are incentives for sustainable practices integrated into performance compensation plans?” SD challenges Sustainable solutions and construction Q “What is Holcim’s contribution to improve efficiencies in the building materials industry?” Energy and climate Q “Holcim appears to be ahead of its competitors with regards to its level of carbon emissions. How does Holcim plan to further reduce its CO2 footprint, while providing the construction materials for the schools, hospitals, homes and infrastructure the world needs?” Biodiversity and water Q “Reducing energy use will in turn reduce CO2 emissions and water consumption. How can Holcim ensure that the overall synergies between energy, climate, biodiversity and water are taken into consideration?”...
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...1. Introduction A paradigm shift currently indicates the global challenges that industries are facing and more companies are pressured to embrace sustainability as business conditions change. However, only recently corporations started integrating sustainability as the part of their business strategy as they came to recognize that it is an essential part in growing and establishing themselves as the leader in the competing environment. A well-executed sustainability strategy can enhance the company’s value and reinforce competitive advantage in the market while protecting the capital base. The balance of power has shifted between corporations and it is important to balance economic prosperity along with environmental and social dimensions. Sustainable business strategy represents a marked shift in traditional business practices and companies who do not adapt to the changes in these practices in order to achieve sustainable profitability will be more likely to face the brand value decline or even extinction in the future. For instance, the change represents the need to understand how all three dimensions affect each other and companies ought to consciously create new consumer preferences. However, a lot of companies still are missing guidelines to implementing a marketing strategy of sustainability as an essential part, which is at the core of ensuring organizational, social, economic and environment growth while managing overconsumption issues (White, 2011). Current researches...
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...How do you plan to incorporate 7 levels of Corporate Sustainability in your career and the 5 principles of Environmental Law 1. In my future career as Manager, I would like to work for organizations that cater to the Triple bottom Line and works not only towards profit but also towards the betterment of the Planet and the People. As such I would like to become a “responsible Manager”- who fulfils his duties not only towards the company but towards the environment and future generations by using resources responsibly, reducing the individual and organization’s ecological footprint and engage actively in Corporate Social Responsibility, not under obligatory pressure but with a sense of responsibility towards the society and environment on which it depends. As an individual, I believe that every individual has a fundamental duty and non-negotiable responsibility to be “environmentally responsible”- to try and mitigate the toll that Mother Nature is already been through in the name of Industrialisation and globalization. I strongly feel that everyone has not only a responsibility towards one’s self and one’s organization – but also towards the environment. Hence, it is important for me to choose an organization whose goals and corporate vision are aligned with this perspective. The closer the fit between my individual objectives and the organization- the higher my productivity and loyalty towards the Company. My responsibility as a responsible Marketing Manager- The scope...
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...Greenheart and the Quest for Corporate Environmental Sustainability Name University Professor Course April 12, 2012 Abstract Greenheart has greatly reduced in promoting environmental sustainability after a change of ownership and some financial difficulties brought by the environment. With this, its leader should remember that the greatest promoter of power is people. By increasing the number of internal stakeholders and supporting their coordinators, the company can again revive their lost power and ambiance and bring back again the gains and the resources that were once lost. Case Study: Greenheart and the Quest for Corporate Environmental Sustainability Introduction Greenheart is a multinational food producer stated in Netherlands since 1900s. It has long sought environmental sustainability through ample means of reducing its environmental impact. However, with the change of ownership and some economic difficulties, environmental issues became merely of secondary importance, taking them more in a structured, integrative, and “realist” basis. The new owner had a singular approach and would rather focus more on the marketing issues, with some shifts in corporate values and corporate mission statement. After 2002, the vision statement no longer mentioned the environment but rather the initiative to be a world leader in the food industry by creating quality products for long-term sustainability. By this, Greenheart...
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...The Consequences of Mandatory Corporate Sustainability Reporting Ioannis Ioannou London Business School George Serafeim Harvard Business School Abstract We examine the effect of mandatory sustainability reporting on several measures of socially responsible management practices. Using data for 58 countries, we show that after the adoption of mandatory sustainability reporting laws and regulations, the social responsibility of business leaders increases. We also document that both sustainable development and employee training become a higher priority for companies, and that corporate governance improves. Furthermore, we find that companies implement more ethical practices, reduce bribery and corruption, and that managerial credibility increases. These effects are larger for countries with stronger law enforcement and more widespread assurance of sustainability reports. We conclude with thoughts about mandatory sustainability and integrated reporting. Keywords: sustainability reporting, mandatory reporting, corporate social responsibility, integrated reporting Assistant Professor of Strategic and International Management, London Business School, Regent’s Park, NW1 4SA, London, United Kingdom. Email: iioannou@london.edu, Ph: +44 20 7000 8748, Fx: +44 20 7000 7001. Assistant Professor of Business Administration, Harvard Business School, Soldiers’ Field Road, Morgan Hall 381, 02163 Boston, MA, USA. Email:gserafeim@hbs.edu, Ph: +1 617 495 6548, Fx: +1 617 496 7387 (contact...
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...Customer Relationship and Corporate Governance in Sustainability of Business Vinod Krishna U. Makkimane Sr.Faculty Institute of Business Management & Technology Banashankari 3rd Stage, Bengaluru. Sustainability is a dynamic concept born out of the environmental debate of the last quarter century. There is growing concern nationally and internationally about biodiversity and protection of plants and animals and community based activity. It is important to view sustainable efforts from global perspective that addresses socio-economic and environmental issues. Sustainable Development as a norm has been accepted in the literature ever since the publication of the Brundtland Commission report in 1987.The Brundtland Commission defined Sustainable Development as that which "meets the needs of the present without compromising the ability of the future generations to meet their own needs". A primary goal of sustainable development is to achieve a reasonable and equitably distributed level of economic well being that can be perpetuated continually for many human generations. It also implies using renewable natural resources in a manner that does not eliminate or degrade them, or otherwise diminish their usefulness for future generations. Sustainable development also requires depleting non-renewable energy resources at a slow enough rate so as to ensure the high probability of an orderly society transition to renewable energy sources. Mahatma Gandhi has observed long back that...
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...Christina Louise C. Linaac 02/12/16 LS 127 - D Corporate Sustainability Reflection Paper The very insightful talk last Tuesday was about Corporate Sustainability and its impact on today’s rapidly changing world. Corporate Sustainability can be viewed as a new and evolving corporate management paradigm. It is an “approach that creates long-term shareholder value by embracing opportunities and managing risks that stem from economic, environmental, and social developments.” Being in the talk and listening to the speaker made me aware of the responsibilities and actions that I would have to make, as a current co-owner of a start-up business, to help the environment and society in general. A few simple steps that we could do in the implementation of our business is to minimize our wastes, employ more environmentally-friendly materials, reduce the amount of energy that we use to produce our products, or add a social dimension to our business such as providing jobs to people who need them, among other things. The talk also taught me that Corporate Sustainability involves the efforts of all aspects of the business such as operations management, finance, marketing, and accounting. The efforts of all these departments combined contribute greatly to the improvement and development of sustainability in the corporate setting. Establishing a Corporate Sustainability approach in any business not only benefits the company by improving its financial performance, lowering...
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...Discuss the role that Corporate Social Reporting (sustainability reporting) plays in adding value to the Annual Report. Your answer could consider why organisations have chosen to disclose sustainability information when there is no legal requirement to do so, and how Sustainability Reports have developed in recent years. Whatever name they go by, corporate social responsibility reports are attempting to serve one essential purpose: they portray the relationship between a corporation and society. They seek to improve communications between the corporate world and the broader society within which companies report. The concept of corporate social responsibility first surfaced in the 1970s as both companies and governments began to look beyond financial performance, for a more comprehensive understanding of the company’s long-term value-creating potential. In subsequent years, a number of high-profile disasters, such as the 1984 Union Carbide gas leak in India brought the issue of corporate accountability and transparency to center stage. Following a series of other disasters involving corporate giants like Shell with its human rights violations in Nigeria and Exxon Valdez spill in the 1990s firm stakeholders and indeed the wider public started asking what the price of doing business was…was it enough to round of a year of negative publicity by a bottom line figure? Environmentalists and human rights activists were particularly critical of the human rights violations...
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...1. Find out what customers value: Take a thorough look at consumers: What types of experiences do they expect? What companies do they believe deliver the best experiences? How do consumers prefer to learn about vehicles? In terms of information sources, the Internet, personal networks, and social media platforms rate highly, and much higher than traditional information sources such as television, radio, and direct mail. In fact, more than 70 percent of consumers use the Internet while shopping for new and used vehicles—more than double the usage of any other information source. This reflects consumers’ growing desire for an objective resource of trusted information. Increasingly, analysis shows that consumers are relying more and more on their social media networks and trusted connections for guidance on vehicle purchases. A primary conclusion to draw from these trends relates to control and influence: The most influential sources of information in the vehicle purchasing process exist beyond the traditional span of control of the OEM and dealer to include social influences. 2. Manage the customer experience: The challenge of managing a customer experience that lives beyond the boundaries of the OEM’s four walls is not new. After all, manufacturers have worked to manage customer relationships through independent dealerships. However, due to the ways in which consumer power and vehicle shopping influence are rapidly changing, consumer expectations about their experience...
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...NEWCASTLE BUSINESS SCHOOL & LEARNING DEVELOPMENT GSBS6001 ASSIGNMENT 2: Individual Case Study Analysis Analytical argument and recommendations ANALYTICAL ARGUMENT Below are descriptions outlining the features of 3 paragraphs. Read each one. Description 1 * ------------------------------------------------- There is no topic sentence, so the main idea of the paragraph is unknown * ------------------------------------------------- The writer summarises the key point of each source * ------------------------------------------------- The writer’s point of view is unknown * ------------------------------------------------- There is no indication of how the theories are similar or different Description 2 * ------------------------------------------------- The Topic Sentence expresses the writer’s argument (or point of view) * ------------------------------------------------- Ideas-prominent referencing indicates an analytical quality in the writing by expressing how content/ideas are related (e.g. 3rd sentence) * ------------------------------------------------- Critical evaluation is stronger and supported by additional evidence Description 3 * ------------------------------------------------- The topic sentence indicates the overall focus of the paragraph * ------------------------------------------------- The writer shows links between the 3 theorists by using connective words *...
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...Corporate Social Responsibility 1 Corporate Social Responsibility Southern New Hampshire University Trenise Graves Corporate Social Responsibility 2 Executive Summary Corporate Social Responsibility has become the main initiative for companies looking to capitalize on sustainability and humanitarian efforts. CSR has evolved from companies donating corporate dollars to global non-profits, to sending employees into emerging geographical places to work directly with its initiatives partnering organizations. Wal-mart stores Inc., operates retail stores in various formats under various banners. It’s operations comprise of three reportable business segments, Wal-Mart U.S., Wal-Mart International and Sam’s Club in three categories; retail, wholesale, and e-commerce. Wal-Mart first opened in 1962 in Rogers, AK. The business is the result of its founder Sam Walton. His visionary leadership focused on helping customers and communities save money and live better. They feature a great selection of high quality merchandise, friendly service, and everyday low prices. Wal-Mart goal is to bring the best shopping experience to consumers. Wal-Mart business philosophy is based on the simple idea of making the customer No. 1. Wal-Mart as a corporation believe that by serving the...
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...Semester 1, 2012 Week 9: Innovation II Product Innovation Dr Gary Buttriss 9.1 What is a product-service system? What may be the impact on its own sustainability of a corporation currently providing products moving towards a product-service system? (See especially reading 9.1.) Answer • What is a product-service system • “A marketable set of products and services capable of jointly fulfilling a user‟s need. The product/service ratio in this set can vary, either in terms of function fulfillment or economic value. (p.238) • Also a system of products, services, supporting networks and infrastructure designed to be competitive, satisfy customer needs and have a lower environmental impact than traditional business models (p. 239) • Impacts on sustainability of a corporation • Drivers: Can provide access to new strategic markets opportunities, market trends and developments and potentially stay competitive as patterns of production and consumption are transformed. • Barriers: Fundamental cultural shifts are required. Markets and products may be hard to develop, consumers may resist. MGMT2001 - Corporate Sustainability 2 Context and Characteristics • Blurring of manufacturing and service: The role of services in providing value is ever more important. Added value is created by technological improvments, intellectual property, product image and brand names, aesthetic design and styling that differentiate and diversify products. Functional economy: Function...
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...Sustainability Course Project Kathy Neihardt Sustainability 1. What is Sustainability? 2. Can our Society Endure? 3. What is a Sustainable Business? 4. World’s Most Sustainable Companies 5. Corporate Sustainability 6. What is the EPA Doing? 7. What is Sustainable Management? Sustainability Sustainability “creates and maintains the conditions under which humans and nature can exist in productive harmony that permits fulfilling the social, economic and other requirements of present and future generations” (EPA, 2015). Sustainability is also “important to making sure that we have and will continue to have the water, materials and resources to protect human health and our environment” (EPA, 2015). Sustainability What is Sustainability? Sustainability is “everything that we need for our survival and well-being depends on our natural environment, we need to create and maintain the conditions under which nature can exist in productive harmony to support present and future generations” (U.S. EPA, 2015). Can our Society Endure? According to SustainAbility “today it is by no means certain our society has the capacity to endure, not in such a way the nine billion people expected on Earth by 2050 will be able to achieve a basic quality of life. The planet’s ecosystems are deteriorating and the climate is changing. We are consuming so much and so quickly that we are already living far beyond...
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