...Critically asses the relevance of sustainability as a concept of understanding urban development Introduction Sustainability is the ability to maintain and retain a particular process in an existing system (Pieterse, 2004). The word sustainability has been used since in 1980s. Its application has been mainly on the human sustainability on earth, which has resulted in the term sustainability that forms part of the sustainable development concept. The term sustainable development means a kind of development that satisfies the requirement of the present generation without compromising the capability of the future generation to be able to meet their needs. There are three main sustainable development goals. These goals are also known as the pillars of sustainability. They include environmental protection, social development and economic development. These three pillars of sustainability have served on common grounds for several sustainability standards as well as certification systems in the past and even today. These three pillars can be illustrated in details as follows: 1. Environmental protection: this is the capability of an environment to provide a given environmental quality and also natural resource extraction rate indefinitely. 2. Social development: this is the capability of a social system like a country or an organization to function at a particular level of social well-being and in harmony. 3. Economic development: this is the indefinite capability of an...
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...The Relevance of Sustainability in Marketing Decision Making Introduction Sustainable marketing calls for socially and environmentally responsible actions that meet the present needs of consumers and businesses while preserving and enhancing the ability of future generations to meet their needs (Kotler & Armstrong 2012, p. 582). The aim of sustainable marketing is to satisfy the customer’s the needs and wants while also putting high emphasis on the environment and the social issues and thus creating profits in a socially responible way. Mention triple bottom line While traditional marketing is a process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return. (Kotler & Armstrong 2012, p. 5) This essay has been prepared to identify and understand the role of sustainabilty in marketing decision making and its impacts affecting current and future business operations. 1.1. Research Methods Data was collected based on qualitative research. Books, internet and online journals were used to identify different roles of sustainability in marketing. Sustainibilty of marketing by itself is a vast area for study, hence this paper will only focus and critically analysis some of the key aspects of s.m. The topics explored in this research are I. Role of sustainability in marketing II. 1. Sustainable Marketing practices adressing the triple bottom line. Sustainable marketing...
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...Sustainability is a very tricky issue that a lot of people have become concerned with in the last few years. Some people can get confused as to what sustainability actually is and what it entails. This is understandable because it is a very complex issue that can be discussed in a lot of different areas but we will discuss business sustainability. In 1987 the United Nations’ Bruntland Commission defined sustainable like this, “Sustainable development is development that meets the needs of the present without compromising the ability of future generations to meet their own needs.” In a more practical business term it is the use of triple bottom line accounting which is a process by which companies manage their financial, social, and environmental risks, obligations, and opportunities. An even better definition is that business sustainability represents resiliency over time. This shows that businesses can survive shocks because they are intimately connected to healthy economic, social and environmental systems. Sustainability is also very complex because it borrows elements from four more established concepts of sustainable development, corporate social responsibility, stakeholder theory and corporate accountability theory. Another element of sustainability can also be explained with Michael Porter’s Shared Values approach. It is an approach to business where you not only create economic value but you also create value for society by addressing its needs and challenges. ...
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...Robert Allison W12020458 Business with International Management Global Supply Chain Management MO255 Alireza Shokri Word Count: Task 1 – 834 Task 2 – 989 Task 3 – 828 Summary – 500 Overall – 3000 Task 1 In recent years the media has a lot to talk about with regards to the British supermarket industry. The main issue raised has been targeting the “horse meat scandal” which has been a major talking point amongst the British public since the media began making it such a relevant topic. This issue is mainly down to the supply chain link between the raw materials supplier and the retailer. An example of this is frozen foods company Findus having to recall a large amount of its lasagne meals due to their supplier Comigel raised concern that its products didn’t “conform to specification” (Bowling, 2013). Tests were performed on the products supplied by Comigel and out of the 18 products tested they found 11 to be containing between 60 and 100 percent horse meat traces (Bowling, 2013). Another good example of the horse meat scandal in the media is with Tesco supermarkets. Tesco’s everyday value frozen burgers which used meat supplied by Silvercrest Foods (Hegarty, 2013) were tested to analyze the percentage of meat in each burger. Out of the 27 beef burgers that were trialed 10 tested positive for horse DNA and 23 positive for pig DNA (Hegarty, 2013). The highest level of horse DNA found in any of Tesco’s value burgers was a massive 29.1% and since the conclusion...
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...MDG- Environmental Sustainability Article- Governing for Sustainability Governance in simple terms means “the process of decision making and the process by which decisions are implemented.” As governance pertains to the process of decision making and the process by which decisions are implemented, an analysis of governance focuses on formal and informal mechanisms that are set in place to manage social, political and economic relationships. Governance therefore encompasses complex systems structured as hierarchies with centralized and structured chain of communications with collective decision making. One truism that can be drawn from governance is that it is differs from place to place and system to system. Good governance usually is based on some characteristics like it is consensus oriented, transparent, responsive, effective and efficient, allows specialization. It is responsive to the present and future needs of the society. Environmental sustainability involves making decisions and taking actions that are in the interest of protecting the natural world with emphasis on preserving the capability of the environment. Environmental sustainability is not just about reducing the amount of waste or using less energy, but it’s concerned with developing processes that will lead to a sustainable future. Many cities are responsible for polluting the environment in ways that are not sustainable. Environmental sustainability forces people to look beyond short term gains and look...
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...The author, Karim Elgendy, reviews the different approaches that are being followed to achieve sustainability in the Middle East. He highlights the dialogue between the revivalist, passive design and the technological, progressive approach. He also points out that this dialogue is playing a role in the path that the world is walking through to achieve sustainable designs. In the first place, it is important to point out that the thought of sustainability as a new agenda in the Middle East and the Islamic world is mistaken. The fact that the discussions and the media focus on sustainable design in the Middle East as a new trend, does not change the fact that the Islamic culture and roles focused on the human responsibilities towards the environment. The Islamic civilization treated the man as the user of the natural resources and the preserver of the natural balance. The first adopted sustainable approach in the Middle East revolved from the traditional historical techniques and elements that revive the energy efficient design solutions from the traditions. The revivalist approach rejects the technological solutions toward sustainability and depends on only traditional techniques. An example of a very well known traditional sustainable strategy is including the courtyard as a primary element in the houses that allows for having an outdoor shaded private area. The courtyard also allows for more ventilation within the houses. In addition, the traditional louvers that are used...
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...'Club of Economics in Miskolc' TMP Vol. 8., Nr. 2., pp. 23-30. 2012. Green Accounting for Corporate Sustainability BETTINA HÓDI HERNÁDI ASSISTANT LECTURER e-mail: vgtbetti@uni-miskolc.hu SUMMARY Today, corporate sustainability is one of the greatest challenges facing companies. Therefore, this study aims to show how accounting, as the language of business and the source of information, can meet the criteria of sustainability. This article starts out by analysing the different approaches to corporate sustainability, then it proposes the reinterpretation of the most important accounting principle, the ‘going concern’ principle. In the following section it outlines the characteristics of accounting from the point of view of sustainability. Finally, it proposes ways of transforming green accounting, both in name and content, into sustainability accounting. Keywords: corporate sustainability; the ‘going concern’ principle; green accounting (environmental accounting); sustainability accounting Journal of Economic Literature (JEL) code: M41 INTRODUCTION According to the Brundtland Commission (1987, p. 43), “Sustainable development is development that meets the needs of present generations without compromising the similar needs of future generations. The concept interprets sustainable economic, ecological and social development as a unity.” Today’s companies must also comply with the challenges stemming from this approach, and therefore they must also implement economic,...
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...Task 13: Sustainability and the potential impact of related issues on the company’s innovation, production and / or logistics functions You should analyse the sustainability based opportunities that might develop for a newly internationalised company, like Elecdyne over the next 10 years and evaluate the potential impact of these on the company’s innovation, production and / or logistics functions. 1) Sustainability based opportunities for Elecdyne over the 10 years 2) Potential impact on innovation, production and/or logistics functions 3) Identify the economic, social and/or environmental aspects of sustainability Task 15: Using the relevant framework (e.g. identify the economic, social and / or environmental aspects of the issues chosen), what objectives / strategies an internationalised company might therefore set, and how it would measure success in meeting these objectives / of these strategies. You should critically discuss the problems that international companies may face, when they have multiple objectives (considering economic, social and / or environmental aspects) and the use of the balanced scorecard approach for making strategic decisions. 1) What objectives/strategies can be set 2) How it would measure success in meeting these objectives/strategies Introduction Introduction of the company+ introducing sustainability and why is important, why we chose it. (10 lines) The Japanese company Elecdyne produces a range of electronic...
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...Introduction In order for us to get a clear understanding of the topic “Concept of sustainability in engineering” we should get a clear understanding/definition of the topic, therefore we should understand what engineering and sustainability is, which are the two keywords in this topic and also how both of them are related. First we will look into the definition of engineering. • What is engineering ? According to the oxford dictionary, engineering is defined as follows; Engineering (noun): (1) The branch of science and technology concerned with the design, building, and use of engines, machines, and structures (2) The action of working artfully to bring something about. (Source: https://en.oxforddictionaries.com/definition/engineering)...
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...Sustainability What does sustainability mean exactly? Sustainability means that a company is aware of the impact and effects that it has in the community and environment that surround it. For a company to be considered socially and environmentally responsible, it must prove that what works and what’s good for them, is also good for the environment and society in general. In other words, companies should always function and meet their goals while remaining socially and environmentally conscious, where they can increase their profits and their wealth while balancing the effects they have on every other element and/or player that participates in the operating and production process of the company. Because of the increasing importance of how much impact businesses can have on the environment, many companies have been implementing new and improved sustainability initiatives across the globe. Some have organized recycling programs, while others have developed water conservation initiatives, approaches to support climate change, energy conservation, energy building, and more. For the purpose of this assignment, I’m going to focus on Starbuck’s sustainability practice to create green stores across all its company-owned outlets. Starbucks has always been known for its responsible practices and the approaches that it takes to produce the coffee grains and other ingredients that it uses on its worldwide-known beverages. However, in 2009, Starbucks set a new goal which would focus on...
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...In this study the multi-dimensional processes of organizational learning and change towards sustainability, the Global Organization Learning and Development Network (GOLDEN) research program will focus on the key functional aspects that characterize the activities of the firm, both line functions and staff functions, thus moving beyond the specialized functions often created to deal with sustainability and Corporate Social Responsibility (CSR) issues. One of the key conceptual contributions of the proposed program, therefore, consists of the development and testing of new theory and managerial wisdom about the development of new types of dynamic capabilities aimed at the adaptation of strategies, processes and culture to meet sustainability requirements. The key departure from the standard way of analyzing stakeholder engagement in prior research consists in viewing the role of stakeholders as primary facilitators of internal change processes aimed at sustainability, rather than solely as counterparts of externally oriented social development initiatives. At the finer level of detail, GOLDEN intent to tackle the problem of identifying the most effective ways to enact specific change initiatives, given contextual, organizational and individual/group level conditions The case conversation in this issue consists of eight cases that there are some different approaches to sustainability integrity. Ma’ria and Devuyst examine the challenges of prioritizing stakeholder interests in...
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...responsible manner. With the growth of globalization of multinational and transnational operations, corporations are becoming more connected and in a world that is striving to improve one's conceptions in social responsibilities. Corporate governance had been a prime focus for many businesses; however, there is more interest for the integration of CSR elements in a company's mission and values, risk management and business strategy, and CSR performance reporting. (Strandberg 2008) CSR seeks to deliver economic, social and environmental considerations while managing sustainability in the short-term and long-term decision making of a corporation. In many corporations, the board of directors roles and responsibilities is to provide the overall direction and strategy for the business (Boland 2009). With the growing interest of CSR, it puts more speculation on the activities and decisions directors make for the organization's day to day operations which affects stakeholders, investors, employees and customers. This causes a conflict on the compensation of the directors or officers. A corporation that is too focused on maintaining sustainability through CSR will take away of the performance and objectives of the company. On the other end, corporations that do not participate in CSR or CSR is not an important aspect in their strategy will suffer poor perceptions from people internally and externally which can affect who wants to do business with them. Therefore, recognition of well managed...
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...Is Fairtrade a form of sustainability marketing? Nowadays, Fairtrade is a new trend in the world’s market and become a powerful competitor toward mainstream brands. According to Belz and Peattie (2010, p29): “sustainability marketing may be defined as building and maintaining sustainable relationships with customers, the social environment and the natural environment.” Fairtrade is also author concept that it aims to provide fair price to farmer in developing country and help them to live better life. This essay considers 3 elements of sustainability marketing: social-ecological problems, sustainability marketing strategies and sustainability marketing mix. It argues that Fairtrade is a form of sustainability marketing. The rest of essay is organized as follows. The second paragraph explains what the elements of sustainability are. The third paragraph presents Fairtrade tends to solve social-ecological problems. The fourth paragraph discusses how Fairtrade makes sustainability marketing strategies. The fifth paragraph reports Fairtrade completes sustainability marketing mix. The sixth paragraph concludes. Belz and Peattie (2010, p29) consider that compared to transaction marketing sustainability marketing is a long-term market theory. They also maintain that sustainability marketing could be included in the macro economy. Belz and Peattie (2010, p29) believe that “It embraces the idea of sustainable development, which requires a change in the behaviour of virtually everyone...
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...1. What is Sustainability Reporting? Describe its origins. Sustainability Reporting is a report that has the concept of how firms manage nonfinancial elements (environmental, social issues) that might affect the company’s performance, value in the future. The origins are that there are a lot of groups are showing interest in the environmental issues. Such as socially responsible investors, consumers who want environmental friendly products, and community groups that are concerned about impact on environmental. 2. What is the GRI and what is its objective? GRI is Global Reporting Initiative. GRI’s objective is to “integrate and unify the many standards in the market place into a single, generally accepted sustainability reporting framework, encompassing environmental, social, and economic performance”. (p30, Johnson& Johnson: A Model for Sustainability Reporting). 3. How has Johnson & Johnson’s Sustainability Reporting evolved over the years? The Sustainability Reporting has evolved at Johnson & Johnson as it become completely merged with J&J’s culture and objectives. In 1990, Johnson & Johnson first set its environmental goals. In 1993 and 1996, it released public reports. In 1998, it started to have annual Sustainability Reporting. And now, it broadened its content and topics in those reports. 4. What does Johnson and Johnson hope to accomplish through its sustainability reporting initiative? There are two things that Johnson and Johnson hope to accomplish through...
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...Develop policy Three policy option summaries: * Using resources wisely: * Econo-Environmental * Environmental Stewardship * Encouraging visitors to consider sustainability: Encouraging customers to make sustainable choices is the biggest environmental challenge. * Focusing on appropriate management principles: * Customer focus * Leadership * Involvement of people * Draft sustainability policy: Using resources wisely: * Econo-environmental: * Resource efficiency: Try to use resource efficiency, avoid to waste electric and water. * Sorting of recyclable paper from general rubbish * Environmental Stewardship * Clean air, water, and land * Lower pollution: Using low VOC paint when painting sets for performances to protect the health and safety of workers * Zero waste: Turn off the air-conditional at 4:45pm every day automatically Encouraging visitors to consider sustainability: * Recognises the concerns and goals of all tourism visitors are important for planning, decision-making and developing mutually beneficial strategies and actions. * Engages visitors based on their interest to ensure a comprehensive basis of knowledge for planning. Focusing on appropriate management principles: * Customer focus Organizations depend on their customers and therefore should understand current and future customer needs, should meet customer requirements and strive to exceed customer...
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