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MMH733- Ethics for managers

Unit Chair - Michael Callaghan

ASSIGNMENT- 1

SDG Industry Analysis

Submitted by:

NAME- Rohit Kukreti

STUDENT ID – 217483217

DEAKIN UNIVERSITy

(BURWOOD CAMPUS)

Abstract

The paper will analyze three major SDG factors and the impacts on FMCG (Fast Moving Consumer Goods) industry. The key goal of the paper is to explore how Nations Sustainable Development Goals (SDGs) that are prevalent in the present Fast-Moving Consumer Goods (FMCG) sector. Using UN Global Compact – SDG matric for the sector, we choose three factors based which the analysis will be done – poverty (ending poverty in all its forms everywhere), hunger (ending hunger, achieve food security and improved nutrition and promote sustainable agriculture), and, health (ensuring healthy lives and promote well-being for all at all age). The study findings state that all three factors significantly affects the FMCG sector and needs to be focused by placing equal importance.

Introduction

1. Introduction & background of study

FMCG sector has undergone evolution over time and the consumer goods industry is highly competitive due to product and brand advertising. It is important for the manufacturers in the sector to continue developing and improving their products. Similarly, they should also look for factors that impact in sector i.e. SDGs (Sustainability Development Goals) to keep up with market and consumer trends embracing sustainable development.

1. Objectives of the study

There are three key objectives to the study relative to the FMCG industry,

 Maintaining sustainability by analyzing poverty & reduction,

 Promoting sustainable agriculture & nutrition addressing major issue hunger, &;

 Maintaining health as part of sustainable development in the FMCG industry.

These are the three objectives on which the entire paper will build upon. The issue will be analyzed & address relative to the negative issues related to these factors as well as positive result from placing emphasis on the SDGs impacting the industry.

Analysis of FMCG Sector

The three main SDGs identified relative to the FMCG sector to be addressed are namely, poverty, hunger & health. These factors shall be analyzed to get substantial evidences & results of positive as well as negative impact they have on the industry. The three chosen SDGs are most relevant to the sector in terms of positive and negative impact on the society and the environment. It is explained as follows.

SDG 1 - Poverty

Poverty is the primary factor that affects the FMCG sector. The balance of this SDG impacts the FMCG sector to slow own and have a mediocre-economic growth.

Positive impact: The positive impacts associated with the SDG are vast. The FMCG entrepreneurs, can strengthen and gain by placing emphasis on this Sustainable Development Goal (SDG) in the sector. They can easily appropriate the excessive and inefficient use of public spending to be adequate financed pertaining to alleviation of the poverty at least in a smaller scale benefitting the overall industry. The factors of crisis can be combatted with a proper economic policy to address it. It is a primary SDG factor as it takes up a good part of the demands of FMCG businessmen. With reduced public spending is reduced, public companies are privatized, relative prices are adjusted benefitting them in the short term as well as long term.

Negative impact: The negative impacts on the persistent issue is that it leads to persistent inequality in the distribution of wealth and income and overwhelming poverty with regrettable conditions of existence in at least half of the population. It will reduce the prospective growth of the FMCG sector as it depends on the standard of living of the people.

SDG 2 – Hunger

Hunger is the next chosen factor that affects the FMCG sector. The SDG factor is observed contrasting the luxurious consumers, with their poor houses and the consumption as well as the waste of the rich and powerful, with their hunger. They are discriminated against and mistreated just because they are poor - and even more so if they are indigenous - and they are hurt by the abundance that a few enjoy ostentatiously. In addition to the inequality between the countryside and the city, inequality is observed in all the streets of all the cities of the country. Hence, this factor will create a bad impact in the FMCG industry not in the immediate future but the prospective long term.

Positive impact: The positive impact of eliminating or addressing hunger will help to het an accelerated pace with a set of prospective consumer segment. It will rise standard of living of people who can be a prospective consumer segment. With hunger addressed as one of the three key SDGs accompanied, mainly by an active industrial and development policy rural and rest can provide the FMCG sector with cheap labor, and not in the promotion of the transfer of labor from lower to higher value-added activities. It will help to attain a greater economic growth and reduce the inequality in the distribution of income in the country.

Negative impact: The negative impacts of hunger on FMCG sector were that people confronting the issue of hunger do not choice of various goods & services offered by FMCG sector. With regrettable conditions of existence - tax revenues are reduced, which barely support a lower programmable public expenditure hence resulting in fall of FMCG sector gradually in a longer term.

SDG 3 - Health

Health is the third, & final factor chosen affecting the FMCG sector. This SDG is yet another important aspect which should be focused further to be beneficial for the sector for Fast Moving Consumer Goods (FMCG). A good part of the institutions and programs of clear social orientation have been articulated based on the concept of subordinated work and have had a markedly urban bias in the areas deprived of nutritional support, health, social security, and housing.

Positive impact: By addressing this SDG, the FMCG sector will get the added-advantage to introduce health-consumer market the respective products into the market scenario. It will provide healthy & stable workers looking in an industrial perspective. The policies of health stabilization and adjustment, together with the introduction of healthy goods & services into the economy will help to better incorporate themselves into the global market.

Negative impact: The health is important factors which has the following negative impacts on the industry. It will result in insufficient and deficient basic infrastructure for health i.e., use and exploitation of water, energy, communications, and transport); productive disarticulation, especially in industrial activities i.e. FMCG sector. This will be resultant in few opportunities for well-paid, stable, and secure employment. It will result in reduced number of consumers whose growth of informality in the labor market results the FMCG sector to confront a downward growth trend.

Strategies contributing to SDGs

There is a need to implement strategies for meaningfully contributing toward these the three SDGs. Parallel to the inequality in the attention received by users, geographical concentration and inequality in the salaries, instruments, and facilities available to merely a part of the society. Moreover, the proliferation of differentiated poverty alleviation programs, hunger reduction, and, equitable access to quality health services will encourage some groups to be covered by two or more services. These people receive none or are confined to notoriously insufficient quality care, suffering from poverty and hunger striking them at each step of their life (Kates, et al., 2005). This will have a vast impact on the prospective consumers of FMCG to vanish form the market segment.

Targets/indicators for evaluating strategies

The appropriate targets and/or indicators for evaluating the strategies are that, growth is the most powerful weapon in the fight to improve the quality of life resultant in growth prospects in the FMCG sector. Faster growth will require policies that stimulate macroeconomic stability, move resources towards more efficient sectors and integrate with the global economy (Nilsson, et al., 2016). It will lead to improvement of the distribution of income and wealth among people who will be the prospective market segment that will be beneficial to the FMCG sector.

Discussion

The sustainable development, challenges for limited practical guidance and analysis the techniques. The developments that meets the needs the present without compromising the ability of future generation for their needs which is defined by the federal sustainable development act. The government decide the economic and social factors. The fundamental sustainable development challenges are faced by the south Asian peoples for needs and the delivery of the service. The structure of the SDGs represents the consult. Action process of the national and global levels. The first seven SDGs which completing the task of providing the basic needs services of the human development began with MDGs for all sectors and in this case mainly pertaining to FMCG.

Conclusion

From the analysis of the three chosen SDGs for the FMCG sector, the importance of these factors learned. The main purpose of is addressed relative to the positive and negative benefits of each of these SDGs. From the SDGs, it is clear as to how they can be beneficial to the Fast-Moving Consumer Goods sector. They were addressed by depicting importance and relevance of each of these factors (Sachs, et al., 2012). The analysis is a meta-analysis that makes use of previous primary researches with similar objectives as based for this study. The findings highlight the importance of the three factors for the FMCG sector.

The findings have addressed the three factors namely, poverty i.e. ending the poverty in all its forms everywhere, the hunger ending which will achieve food security and improve nutrition along with promoting the sustainable agriculture, and, health factor will ensure that healthy lives will promote well-being for all age groups. The study findings

places emphasis on all three factors above significantly affecting the FMCG sector highlighting the need to focus on them placing equal importance of these factors.

References;

Griggs, D., Stafford-Smith, M., Gaffney, O., Rockström, J., Öhman, M.C., Steffen, W., Glaser, G., Kanie, N. and Noble, I., 2013. Policy: Sustainable development goals for people and planet. Nature, 495(7441), p.305.

Kates, R.W., Parris, T.M. and Leiserowitz, A.A., 2005. What is sustainable development? Goals, indicators, values, and practice. Environment (Washington DC), 47(3), pp.8-21.

Nilsson, M., Griggs, D. and Visbeck, M., 2016. Map the interactions between sustainable development goals: Mans Nilsson, Dave Griggs and Martin Visbeck present a simple way of rating relationships between the targets to highlight priorities for integrated policy. Nature, 534(7607), pp.320-323.

Sachs, Jeffrey D. "From millennium development goals to sustainable development goals." The Lancet 379, no. 9832 (2012): 2206-2211.