Essay on "Social Environmental Sustainability Studies and Innovation"

Essay 4 pages (1474 words) Sources: 9

[EXCERPT] . . . .

Social/Environmental Sustainability (Discussion questions)

Social Environmental Sustainability

Point 1a) of the paper discusses important aspects regarding the reporting activity of SBD impacts to stakeholders for the first student. The same issue is addressed in point 1b) for the second student. Point 2a) provides examples of companies that use life cycle thinking and assessment techniques for the first student, while points 2b) and 2c) address the same subject for the second and third student.

a) Sustainable business development has become an important issue of interest to companies' stakeholders. These stakeholders are represented by managers, employees, owners, investors, the government, and the society. Several organizations, like the International Organization for standardization have developed standards that must be met by companies regarding environmental sustainability. These standards are requested by governments, but also by other companies. Therefore, it is important that companies report the financial impact and performance results of their sustainable business development practices.

Some might consider that publicly reporting the business strategy and its results on sustainable development is an act of promotion of companies in case. This might be true, but it does not diminish the intentions of these companies, their commitment towards environmental sustainability, or the results they can determine in this field. Others might consider that the detailed reporting on these results can lead to an increased vulnerability to competitor intelligence gathering. This is hardly the case, because companies cannot become vulnerable simply by presenting their results. However, in order to reduce the risks associated with this reporting, companies could focus on presenting the results, rather than providing significant details about their investments (IIED, 2011).

The reports are usually intended for the use of internal management, investors, and the government. These reports should focus on companies' sustainable development objectives in order to measure performance against them (IISD, 2011). Based on this performance, managers can make decisions regarding the development of successful strategies that can improve sustainable development efforts.

It is also important to protect the interests of current and potential investors. Current investors want to protect their investment, and want to ensure that their money is spent on activities that are environmentally sustainable (Schaper, 2010). This is also because they want their names associated with companies that develop and implement practices that support the environment and natural resources.

b) Companies' activities regarding sustainable business development have significantly increased in importance, helping them stimulate innovation and create competitive advantage. The success of environmental sustainability strategies relies on several factors, like stakeholder support, efficiency, and market edge. Stakeholder support refers to increasing companies' appeal to and involvement of different groups of stakeholders (Goldsmith & Samson, 2004). This situation determines the necessity of developing risk management programs that shareholders can analyze in order to make informed decisions, providing product safety and health information that customers require, and developing a series of programs intended to improve relationships with business partners.

In order to reach this objective it is important to report to these stakeholders the financial impacts and performance results associated with companies' sustainable business development. Each group of stakeholders has its interests in companies' SBD strategies. Investors want their money spent on environmental protection, and they want to see exactly how their money is spent. This is also because they want to build an image that focuses on environmental sustainability. The government and other regulators require that these companies demonstrate that they comply with the regulations in the field. Therefore, it is important that these companies provide reports that thoroughly analyze their efforts regarding SBD.

2. a) the sustainable business development strategy and its objectives determine companies to use life cycle thinking and assessment tools in order to improve the effects of such strategies (SAIC, 2006). The reason behind this relies on the increasing demands from customers and governments for improved environmental performance. Life cycle thinking and assessment strategies are developed and implemented by large companies that have the financial power to invest in environmental sustainability practices, but also by small companies that are committed to support environmental protection.

Some of the companies that use such techniques are represented by Unilever, AirDye Solutions, and Stonyfield Farm. These companies have different reasons for addressing these techniques. Unilever has developed strategies based on life cycle thinking and assessment in order to support the commitment expressed by stakeholders towards understanding the environmental impact that the company's products determine. AirDye Solutions' reasons are somewhat different. In this case, the company's interest relies on… READ MORE

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