3. Sustainability is more than just being “green”. Does COMAIR reflect a clear set of values, purpose, objectives and vision to support the development of a sustainable competitive advantage as reflected by their “Cycle of Success”?
In order to be sustainable companies should adopt the triple bottom line initiative, this will highlight the areas of impact; financial, social and environmental. A quick analysis of each line will highlights the aspects.
Social Sustainability: having fair and beneficial labour practices and further to this can the company be measured in the impact of the business activities on the local economy and lastly corporate community involvement.
Environmental Sustainability: This measures the company’s impact on the
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Should there be changes Comair will be ready to take action in order to be compliant. Comair is also looking at better operating effectiveness such as investing in better fuel efficient aircraft which Boeing is quoted; that the aircrafts fuel consumption is reduced by 33% per passenger. The objective that can be classified against environmental sustainability is its operating effectiveness with Comair stating that it needs to develop core competencies across the operating environment. Core competencies can lead to optimising processes, which in turn can lead to waste reduction, which in turn is good to the environment. This is also entrenched in the value statement that Comair are offering world-class products and services in the most efficient …show more content…
The statement “strive to be trusted by our stakeholders” (Comair Case study compiled by TFJ Oosthuizen 2018) is a bold statement because the stakeholders is everybody that can be affected by Comair such is the general public, Comair’s customers, the board of Comair, local authorities to name a few. These parties will look at how Comair is conducting its business on all areas and the impact on society. “Leading as a Responsible Corporate Citizen” is an objective of Comair as to which Comair commits itself to conduct business in a sustainable manner, with ethics and corporate governance practices to be held with high standards. People look at companies with high standards in every aspect and will judge them accordingly and the result is that British Airways, kulula.com lauded at Sunday Times Top Brands
This day and age, change has become the new norm that shapes and develops the business world and global economy. A rising topic that has shepherd the direction of innovation is climate change and environmental awareness. The sustainability of a company encompasses their ability to manage social and environmental risks, obligations and opportunities. This concept is important for managers and to understand and implement because of government regulations and potential cost efficiency. In Oregon, there are numerous companies that express the importance of being sustainable.
Introduction Homer Stryker, an orthopedic surgeon, founded Stryker Corporation after World War II. Stryker Corporation was established to create new medical tools and improved medical procedures for patients to help them heal faster and more efficiently. In order to sustain their twenty percent rate of return, and to generate continuous growth and innovation, Stryker relies heavily on acquisitions. One of Stryker’s more notable and largest acquisitions was Howmedica worth $1.65 billion. Large acquisitions can be risky, so we will access Stryker Corporations industry factors and explain why their detailed capital expenditure process works.
Modern day businesses have to be socially responsible; actions are taken to satisfy customers who might have a cause that they care deeply. Social responsibility occurs when a person or a company acts in an ethical and sensitive way towards important social issues of the day such as economic, environmental, and cultural concerns. Many businesses have a section of their website or business literature dedicated to social responsibility. Companies proudly detail the steps they are taking to address concerns that people have with the environment and economic issues. Having companies act in a socially responsible way is necessary because their actions have a tremendous positive impact on society.
Corporate social responsibility: It has started an initiative in which it gives one percent of its revenue i.e. sales, to grassroots environmental organizations. Not only that, but also it has convinced 1,400 other companies to join this "1% for the Planet" initiative which he refers to as an Earth tax. This helps it to make a positive contribution to the environment thus achieving its strategic goal. Benefits: a.
In this highly competitive world, money is one of the most significant factors for people to survive because people use money to satisfy their desires such as clothes, food, and medicines. A company will gain profit from the amount of money that people used, but only profit cannot make company to be sustainable. Hence, every corporation should be concerned about the triple bottom lines which can lead company to be sustainable. The Triple Bottom line or TBL was created by the founder of British consultancy called sustainability, John Elkington since 1994 (economist, 2009). The triple bottom line is separately in three categories, including profit, planet, and people.
Waste Management, Inc. (WM) Consultation Report Introduction Waste Management, Inc.'s 2016 Sustainability Fact Sheet describes the company, founded in 1971, as, "the largest environmental solutions provider in North America, serving more than 21 million municipal, commercial and industrial customers in the U.S. and Canada" (para. 2). At the end of the 2014 financial year the company employed approximately 39,800 full time employees (WM Form 10-K, 2014, p. 10). Waste Management Inc.'s 2014 Annual Report states an income from all operations of US$2.3 billion, with US$1.3 billion attributed directly to Waste Management, Inc.'s operations (p. 110).
TBL incorporates economic, social, and environmental factors into its business strategies. In other words, the company looks at its impact upon profits, people, and the planet rather than simply on the bottom line” (p.354). For me, social responsibility, represent a reflection of the heart of a company. For example, corporate social responsibility, is the blueprint of how businesses take responsibilities for their actions. According to Kroupa (2016) “It’s about how they identify and manage their social and environmental risks and footprint.
1) Evaluate how Nestlé 's approach to corporate responsibility was good for their business. Corporate businesses generally have to meet ethical, legal, commercial and public expectations. That is what is expected of the business world today. This is known as the Corporate Social Responsibility (CSR). However, businesses with short-term goal will rarely practice CSR since practicing it does not bring any benefit.
In 2013 Penn State began work on its Sustainability Institute. This institute is dedicated to making Penn State’s main campus a more sustainable community through various programs to help reduce and recycle waste. The Sustainability Institute's recycling program is something called the “Möbius” program. It was named after the Möbius loop created by August Möbius.
Sustainability is meeting the needs of the present without compromising the ability of future generations to meet their own needs. [ The Brundtland Commission, 1987:Our Common Future:Report of the World Commission on Environment and Development.(1987,August 4)|United Nations Documents NO.A/42/427 Retrieved March 10,2017, from http://www.un-documents.net/our-common-future.pdf](The Brundtland Commission, 1987) Sustainability development is to conducted and produce without depletion of natural resources for the next and the future generation, also need current society to maintain the non-regenerated energy resources, but still needs to satisfy the needs of the current mankind, is not about shut down everything and going back to the primitive communes
Introduction Sustainability has been mentioned as a goal of businesses. During the mid 1990s John Elkington created the triple bottom line plan under the concept of sustainability. Sustainability can be defined in many ways, but the simplest way is “Ability to sustain” (Sustainability, 2010). The triple bottom line is an accounting framework, and there are three dimensions of sustainability among them people, planet and profit (3Ps). The concept of TBL is to measure the profitable, social and environmental performance of the company.
I agree with the assertion that in the context of Sustainable Development ‘the reality of life today is that the economy dominates environment and society. The Concept of Sustainable Development Sustainable development refers to “meeting the needs of the present without compromising the ability of future generations to meet their needs”, and was produced by the Brundtland report (WCED, 1987). The concept also takes into account the needs of the poor in developing countries by outlining achievable objectives of importance (WCED, 1987).
The adoption of CSR strategy is also another drive factor for companies as it is perceived a way to gain competitive advantage. Those two aspects are strongly connected and the role of the supply chain in CSR strategies is vital (Blowfield & Murray, 2010). Companies which have not only adopted CSR actions but have highlightened them as a core factor of their long-term strategic planning may find complexities to uphold their social and enviromental standards to the whole value chain. The key issues that must be solved in the supply chains to support the firm’s CSR strategy are: • The partnership companies have with their suppliers: Companies, likeTesco, must collaborate more closely with their tier suppliers without underestimating the controlling them to esnure that sustainable ethics and actions are applied. • Particularly, for the transportation/distribution sector, the reduction of fuel emissions can be achieved by achieving a successful perfomance of lean supply chains, with organized distribution plans which will minimize the
Kahn’s (1995) approach to the sustainable development theory is consistent with the modern day development techniques of Europe 2020 priorities; smart growth, sustainable growth and inclusive growth. The adoption of some innovative strategies such as the utilisation of renewable energy as an integral part of the energy mix could result in growth of the economy, which will eventually trickle down to the poor or extend to the rural or disadvantaged areas of the country. The social sustainability generally explains the idea of equity among the people, empowerment, participation, accessibility and institutional stability. It seeks to ensure a good standard of living in the country by alleviating poverty. Environmental sustainability seeks to explain the ways in which exploitation and utilisation of the natural resources will not be made to negatively affect the environment or the health of human beings (Kahn 1995).
Sustainable development, as its name suggests, is a concept continually elaborating. The most commonly used definition, according to World Commission on Environment and Development (WCED), is the development which “meets the needs of the present without compromising the ability of future generations to meet their own needs” (WCED, 1987). It shows the importance of considering benefits for both current and future generations and strongly supports economic development, while it also implies when accessing environment and natural resources, human beings tend to take an anthropocentric view, that the primary goal is to satisfy human needs. With no regard for earth as a life-support system, a development will not be considered sustainable. Therefore, by taking economic, social, environmental issues into accounts is a key approach to develop sustainably in different contexts.