...GREEN BUSINESS PRACTICES: BALANCING ENVIRONMENT AND ECONOMIC DESIRES MUKHTAR AHMAD1 Abstract Individual organization government and even business enterprises are becoming more and more environmental conscious. This environmental consciousness has lead to the emergence of green business practices .Green business involves promotion and production of eco-freie3ndly products. This research paper presents the detailed study on the concept of green business practices which are essential for improving environmental condition in a profitable manner. This paper primarily focuses on fulfilling responsibilities towards environment through following green practices, and secondly, it explains the competitive advantages of green business. Green business...
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...The Need for a Sustainable Business Model Introduction Ten months may very well be a trend. A couple of years could be an aberration. Ten years however means it is time for a change. Since 2004 the manufacturing industry has seen some ups and downs, however more specifically to the firm, it has been a continuous down. The time is now to reverse that trend, and it starts with a new culture of sustainability. There is money to be made, and there is money to be saved. Under the circumstances of having little financial flexibility for investment and development, prioritizing the saving is paramount. Cutting down costs across the board, whether they are resources, expenses in travel, as well as energy, will serve to be prudent both short and long term alike. Furthermore, positioning the company as a leader in the market of sustainability, as an organization that is forward thinking, changes everything. Systemic and cultural changes will not only alter perception in the market place, but bottom line long-term concrete profitability. Companies worldwide have made this a focus, investing both time and money in strategies that address the competitive landscape shaped by resource scarcity, regulatory uncertainty and economic volatility. (MIT Sloan, 2012) No longer a buzzword, this is moving to the market norm. It is time to embrace it and begin to reap the reward. This is not only a strong strategic business case, it is imperative to compete. Hurdles The arguments...
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...Ajzen, I. and Fishbein, M. (1980) Understanding attitudes and predicting behaviour, Englewood Cliffs: Prentice Hall. Anderson et al. (2007) Statistics for Business and Economics, London: Thomson. Bansal, P. (2002) ‘The Corporate Challenges of Sustainable Development’, The Academy of Management Executive, vol. 16, no. 2, pp. 122-131. Baum, T. (2006) Human resource management for tourism, hospitality and leisure: an international perspective, London: Thomson. Baumgartner, C. (2000) Nachhaltigkeit im Österreichischen Tourismus [Online], Available: http://www.seilbahn.net/thema/nachhaltigkeit.pdf [25 March 2011]. Berg, B.L. (2009) Qualitative Research Methods for Social Sciences, 7th edition, Boston: Pearson. Berry, S. and Ladkin, A. (1997) ‘Sustainable tourism: a regional perspective’, Tourism Management, vol. 18, no. 7, pp. 433-440. Blackburn, W.R. (2007) The sustainability handbook – The complete management guide to achieving social, economic and environmental sustainability, London: Earthscan. Black, T.R. (1993) Evaluating Social Science Research: An Introduction, London: Sage. Black, K. (2009) Business Statistics: Contemporary Decision Making, 6th edition, Jefferson City: John Wiley and Sons. Bmwfj (2011a) Die Organisation des Tourismus [Online] Available: http://www.bmwfj.gv.at/-Tourismus/TourismusInOesterreich/Documents/organisationshandbuch%20J%C3%A4nner%202011.pdf [10 Feb 2011]. Bmwfj (2011b) Tourismuspolitische Aktivitäten [Online], Available: http://www.bmwfj.gv.at/Tou...
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...Groupon : In its simplest form Groupon (derived from "group coupon") is a deal-of-the-day website that features discounted gift certificates usable at local or national companies Business Model: The company offers one "Groupon" per day in each of the markets it serves. The Groupon works as an assurance contract using ThePoint's platform: if a certain number of people sign up for the offer, then the deal becomes available to all; if the predetermined minimum is not met, no one gets the deal that day. Groupon makes money by keeping approximately half the money the customer pays for the coupon. Its business model essentially consists of economies of scale and economies of networking. Sustainibility : According to an article published in Forbes titled “Is Groupon's Business Model Sustainable?” (http://www.forbes.com/sites/panosmourdoukoutas/2011/10/22/is-groupons-business-model-sustainable/) Groupon’s business model is not sustainable for two reasons : 1) it is selling other company’s offering who have the upper hand in deal negotiation and 2) they have considerable direct competition from companies with a broad user base like Google, Yahoo, Expedia and so on. The findings of an academic study of Rice University from 2010, from 150 Groupon businesses in 19 cities: (http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1696327) • 66% profitable; 32% unprofitable. • Restaurants were the most unprofitable category...
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...1) Groupon doesn’t have sustainable business model: • Less Customer Loyalty • Easily Replicable • Huge Competition • Ponzi Scheme used to make payments to merchant 2) Groupon’s growth has been following exponential trend owing to following reasons: • 1st mover advantage • Large customer base • Continuous new acquisitions • Targeted deals to customers • Increase merchant base with no initial fee Groupon is appealing to customers: • Good Bargain • Customer Service • Local deals available • No membership fees • Huge number of daily deals • Attractive phrases 3) Groupon is a good option for Merchants: • Brings new customer • Helps to sell products which are in inventory from long time • Advertises the brand • Helps in increasing the sales during off peak hours • Builds Customer Merchant relationship • Increases revenue Merchants are excited with Groupon but there are merchants who are skeptical about it because • Can disrupt normal business • Long wait time for advertisements • Negative bargain • Can cause loss if more customer appear than expected • Long time to receive payment • It mostly attracts low end bargain seekers • Deals don’t generate repeat customers • Less customer loyalty 4) To calculate the profitability we need to assume the below mentioned points: a) number of coupons sold b) amount of purchase by returning customers c) kind of agreement(negotiation) between American apparels and Groupon Total 133000 coupons were sold ...
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...computer science. An ad by game developer Gameloft on Naukri.com led him to a job in their Hyderabad office, where he eventually became a game designer. In 2009, he founded Twist Mobile, with apps such as Age Effect. He tied up with VServ to use their app-wrapper technology for ads embedded in apps. Success stories included becoming the first Asian company with 10 million downloads on Noki’s Ovi store. “Today’s killer app is tomorrow’s delete,” says Khutal, who has now branched out into Android and iPhone apps. Sriram Subramanya grew up in Pondicherry and started work in the auto ancillary business, with postings in Chennai and Bangalore and training in Germany. He later moved into the desktop publishing business, migrating from print designs to digital content. Sriram’s wife had to sell her jewellery at one stage to fund the growth of the company, Integra. A tight focus on quality, precision and business culture helped grow the company into one of the world’s Top...
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...Course: CSR Trimester I Assessment: Oral Presentation Total Marks (15 marks) CLO Students should be able to integrate dimensions of social responsibility in managerial decision making (CLO2) |Aspect/ Performance Area |Exemplary |Satisfactory |Unsatisfactory |Score | | |(3) |(2) |(1) | | |Rational for sustainable |Clarity in describing the |Identifies the rational based |Has a vague idea of the rational | | |business/CSR |alignment between business |on a few pertinent facts |and does not have facts to support| | |(5 marks) |goals and social goals on the | |the same. | | | |basis of facts | | | | |Identifies CSR/Sustainability |Explains the logic of various |Determines some logic to |Is not sure about the logic of | | |Dimensions |CSR/ Sustainability dimensions|explain CSR dimension |various CSR dimensions | | |(5 marks) |incorporated by the company | |incorporated by the company ...
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...Consumer Protection Act 1986: After liberalization of economic policy, consumer goods have flooded the market as never before. Both foreign and India companies are introducing new products and brands with glossy and fancy packing as the middle and lower income groups are taking loans to-Companies still do not pay attention to the quality of their products and also do not value customer satisfaction. Very often a customer may get taken in by a misleading advertisement making tall claim as to the high quality and after-sales service. The consumer may discover later that the goods purchased by him are not up to the claims made by the manufacturer. Companies are not willing to invest in efficient after-sales service so long as their sales keep increasing. Newspaper columns can be seen to be full of complaints and many companies do not care to rectify the complaints. To enable the consumer to have his right to a deal, the consumer protection Act was passed in 1986. The Act promises to rectify all that and make accountant both the manufacture; s and providers of service. It provides for toe setting up of quasi-judicial bodies at district, state and national label for quick and inexpensive redressal of consumer grievances. Three groups-the consumer, registered voluntary consumer associations and the central and state government is covered by this facility. In case a group of person is seeking similar redressal, a class action suit can be filed or may be treated as a public interest petition...
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...document be utilized, and the impact to the organization should the illegal act is found out. Also consider if this is a test of honesty for you – if you would accept to do the task. 4. Alternative Course of Action The alternative course of action is simply not to utilize the information. 5. Recommendation Competitors data obtained in an unethical manner, at worse illegally, is punishable by corporate laws. The recommended action is not to use the information. In most multinational companies a corporate compliance virtue is formed into each employee, wherein each decision made must be in accordance to what is legally right. Corporations with no established corporate virtue, had been fined, and at worst closed down due to unfair business practices. Sustainability of action should be kept as a core competency, wherein action taken at the moment should be beneficial to the organization in the long run. Short term advances are not worth the long term crisis...
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...January 1, 2012 8:52 PM Chapter 44 Lecture Note # 1 by Spring Walton Note edited by Spring Walton on 01/03/2012 08:07PM Chapter 44 Consumer Protection I. Introduction Consumer law issues include those of contracts (including UCC sales), torts, crimes, and product liability, often acting as a backup to the failures and shortcomings of those other areas of the law. All of them provide some measure of consumer protection, yet none stand alone as being complete. They are interdependent and, as such, students must be aware of the big picture of consumer protection. This chapter covers the fourth major set of venues within a quadripartite of remedies available to a wronged or injured consumer. First, there is criminal law. Victims of consumer fraud and similar offenses have always been able to seek state-supported sanctions against wrongdoers. This venue may provide some ephemeral satisfaction for the victim and may even, at least temporarily, protect society from further harm. But criminal law does not truly make the victim whole. As a matter of fact, most of the miscreants convicted of consumer fraud are also judgment proof, i.e., they have no assets from which civil judgments can be satisfied. The second area of consumer protection is found in tort law and the permutations of intentional tort, negligence tort, and strict liability. These remedies can and do provide meaningful substance to civil correction of wrongdoing...
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...country, they will look at the political stability of the country which will determine whether they open the store or not. Great Ormond Street is also affected by political stability. If the country has good stability, Great Ormond Street will be able to get funding for their charity and hospital. Also if the country is stable, people will have more money to donate to GOSH. If the country is unstable, it will affect the decisions that the charity makes. Government support Government support means the way the government helps out the community by giving their support in order to help others. Things such as funding come from the government to help businesses grow. Tesco isn’t really helped out by the government as it is a well-recognised business that has established itself to become one of the most successful food stores in the UK and the world. The government will hardly ever fund Tesco as they are a multi-billion pound company. The government tend to only help Tesco out with planning permission for new stores. When Tesco want to open a new store it has to go through the government...
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...accounting firm, Ernst and Young, were hired to audit code compliance by making spot checks at Nike factories. In that audit was information concerning Nike factory conditions and how the workers were being mistreated. The audit claimed that Nike workers in Southeast Asia were exposed to toxic chemicals, subjected to physical, verbal, and sexual abuse, forced to work an illegal excess overtime at minimum wage, and suffered poor hygiene. Nike, trying to save their company spent many years claiming that these accusations were false. However, when people compared claims from Nike to the audit, they found some of the details to be inaccurate and/or misleading. Marc Kasky, a California resident and activist, sued Nike for unfair and deceptive practices under California's Unfair Competition Law. Kasky alleged that Nike made "false statements and/or material omissions of fact" concerning the working conditions under which its products are manufactured. Nike filed a demurrer, contending that Kasky's suit was absolutely prohibited by the First Amendment. The California Supreme Court dismissed the case as “improvidently granted.” However, late in 2003 Kasky and Nike announced a settlement. In return for Kasky dropping the case, Nike agreed to give $1.5 million to an industry-friendly factory monitoring group. Analysis Kasky, in my opinion, was correct and had good intentions when he sued Nike. He wasn’t in it for the money, instead he believed in human rights and he advocated for change...
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...selling goods. Consumers are allowed to return product if it does not match the description or is damaged. This act makes it compulsory for the organisation to describe its products accurately. For example If Nike sells a plastic equipment (squash racquet) by describing it as an titanium alloy. Consumer protection (distance selling) regulations 2000: This applies when a business sells goods online or by any other distance, such as text messaging, phone calls and internet etc. So it is compulsory for the business to follow this law which states that, product when sold must be in a good working condition, consumer should be provided with prior information, making sure that the details are clear like payment and delivery information. A consumer also has the right to cancel and refuse to except the product if they think it’s faulty or not in a good working condition. If someone has ordered a product of Nike online, then it’s the responsibility of the business to provide payment and delivery information as well as making sure the product is not damaged. Pressure Groups: It’s a group of people who think the business is not functioning the way it should and it puts the pressure on them to change their techniques. Example If McDonalds starts pollute the air then pressure groups can enforce their power for McDonalds to change their ways. Some pressure groups are Friends of the Earth and Greenpeace. Consumerism: This act gives the authority to the customer to check anything they want...
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...Concept of the Federal Trade Commission Concept of the Federal Trade Commission Kenneth Hunter Grantham University Abstract What is the concept of the federal trade commission? How do they help us in our everyday economic planning? Is the federal trade commission the reason for businesses being more customer orientated? Can this will design federal government section keep big businesses in check or will small business be left for the taking. How is the federal trade commission broken to oversee the companies and how these laws are being kept? Why is this so important to the American people? This section of the American is like the godfather of business protection and keeper of guidelines. This area is cornerstone of ensuring a balance to the business world as we know today. You have to ask yourself without them would the economic be safe? Current Mission Let’s take a look at the current mission of the Federal Trade Commission as we know today. As a consumer or business person, you may be more familiar with the work of the Federal Trade Commission than you think. The FTC deals with issues that touch the economic life of every American. It is the only federal agency with both consumer protection and competition jurisdiction in broad sectors of the economy. The FTC pursues vigorous and effective law enforcement; advances consumers’ interests by sharing its expertise with federal and state legislatures and U.S. and international government agencies; develops...
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...The Macroenvironment factors are external and uncontrollable factors that influence the company’s decision making and affect its performances and strategies. Therefore, we are going to look for the major trends for each macroenvironment factor and measure the impact on the success of our product. Demographic forces: In terms of demographic, increasing population has an effect on the demand of our products. Recently, between 2008 and 2012, Canada’s population grew at an average annual rate of approximately 1.00%, mainly from the strong immigration, and it is also estimated that the population will exceed 39 million by 2031. This steady increase in population will directly enlarge the consumer groups, which will increase the demand of all kinds of product as well as our four season shoes in current market. Also, population aging does a great impact on the sale of our products. By 2010, Generation X who was born between 1967 and 1976 is served as the primary market. They respond to socially responsible companies that aim to maintain the balance between the economy and the ecosystem, which means such eco-friendly products as our four season shoes will cater to their tastes. Technological forces : One major trend in the technological environment has been the creation of the 3D printer. Many shoe companies are now looking into making both non-customized, mass produced shoes, as well as shoes that are customized for each customer. Two examples are Nike and New Balance; both companies...
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