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Provide a 2 pages analysis while answering the following question: Sustainble business. Prepare this assignment according to the guidelines found in the APA Style Guide. An abstract is required.
Provide a 2 pages analysis while answering the following question: Sustainble business. Prepare this assignment according to the guidelines found in the APA Style Guide. An abstract is required. SUSTAINABLE BUSINESS and SUSTAINABLE BUSINESS The success of any given business is subject to the influence of many different factors. In the contemporary business environment, firms are increasingly becoming responsive the concept of sustainability. In particular, Tesco among other major retailers in the world are pursuing sustainable business practices as social, economic, and environmental concerns heighten in the business setting (Tesco, 2013). In this respect, sustainable business is the next critical concept that will drive business enterprises into their future success.
Sustainable business as a practice is aligned with the prospects of globalization. Social, economic, and environmental issues caused by businesses have prompted firms to act against the negative impacts of their operations (Folke & Gunderson, 2010). In essence, businesses are increasingly embracing green operations and/or strategies. The idea of sustainability is to ensure that business decisions account for the welfare of the entire society. In this respect, businesses are developing green products, employing sustainability-driven production mechanisms, or promoting environmentally friendly means of doing business. The ultimate objective is to shift from traditional competition practices to contemporary and greener modes of business within a highly competitive setting.
The theory of sustainable business is subject to the influence of four major pillars, namely: economics, ecology, social science, and evolution (Holling, 2000). These pillars inform the completeness of sustainable business theories. The economic factor is critical in explaining both business and social welfare in the society. Business operations that negate the economic welfare of the masses fail to account for sustainable business practices. Drawing from principles of economics, sustainable business has to be financially viable and most importantly fit for future generations.
Ecology and sustainable business connect based on maintaining, conserving, and protecting dynamic systems that define environmental relationships. Ecological systems host diverse and dynamic species, all of which compete with one another in many different ways. In this respect, sustainable business cannot afford to destroy ecological relationships that define people-nature interactions.
Moreover, social science and evolution also play a central role as far as sustainable business is concerned. The interaction of people and nature crates many different developments that subsequently result in evolutionary processes (Penfield, 2008). For example, human behaviour in business exploits natural resources, thus changing the ecological systems and structures from time to time. In so doing, economic and welfare issues emerge. At the height of these observations, sustainable business comes in to quell the mounting pressures in that regard.
The application of sustainable business practices is evident in the contemporary global setting. In particular, Tesco, and England-based retailer, strives to become a leading green business in the world. The retailer channels its economic profits towards corporate social responsibility, in response to the emerging need for improved personal, social, and economic welfare in the world. Most importantly, Tesco’s bid for sustainability has seen the company stop testing its label care products on animals.
In conclusion, sustainable business has a gone a notch higher with Tesco’s ultimate goal of reducing carbon footprint within and across product supply chains (Tesco, 2013). In so doing, the retailer integrates social, economic, and ecological concerns to create a one-stop business strategy that accounts for the business’s sustainability both in the short-term and long-term.
Folke, C. & Gunderson, L. 2010. Resilience and global sustainability. Ecology and Society, 15(4): 43. [Online] Available at: http://www.ecologyandsociety.org/vol15/iss4/art43/
Holling, C. S. 2000. Theories for sustainable futures. Conservation Ecology, 4(2): 7. [Online] Available at http://www.consecol.org/vol4/iss2/art7/
Penfield, P. 2008. Generating for the Environment, Drive down costs while helping Mother Nature. APICS Magazine, Vol. 18, no. 6.
Tesco, 2013. What Matters Now: Using out Scale for Good. Tesco and Society Report, 2013 [online] available at: http://www.tescoplc.com/files/pdf/reports/tesco_and_society_2013_ipad.