This assignment will discuss the response of the Canadian business market to the force of sustainability. Sustainability includes both sustainable development and corporate sustainability. When sustainable development and corporate sustainability are valued in a company, it aligns the views of various stakeholders, which can lead to financial success. In the past, sustainability was not valued, mainly because of a lack of knowledge and an aversion to the costs of sustainability reporting. However, with increased consumer awareness and the promotion of environmental and social value, more companies are moving towards a state of sustainability. In Canada there has been some adoption of sustainable development. Regulating bodies and third party evaluators have implemented systems to promote a triple bottom line in corporations. TELUS Corporation is an example of a company that is focused on sustainable development. Their vision, policies, and practices all display the company’s support for the community, the environment, and the shareholders. While there are still barriers to the adoption of sustainable practices, the market will naturally shift towards a state of corporate sustainability through sustainable development.
Assignment #1
Introduction
In the business world, there are four forces of change. These are innovation, customer focus, globalization, and sustainability. Innovation involves technological and non-technological advances that create new value for a company. Customer focus entails directing an organization’s efforts towards increasing the value given to customers as opposed to the value kept in the organization. Globalization has lead to integrated markets and has exposed businesses to new risks, such as pol...
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Conclusion
It is evident that sustainability is becoming a strong force in the business world. Environmental issues, such as greenhouse gas emissions, and corporate social responsibility are becoming increasingly important to internal and external stakeholders. Companies can no longer focus solely on financial measures, but must incorporate the triple bottom line into their performance metrics. This will give a company a long-term focus that supports future growth and profitability through sustainable development.
Adoption of sustainable initiatives is varied in the market. While companies such as TELUS Corporation can be labeled as a sustaining corporation, others remain in a state of non-responsiveness or compliance due mainly to costs. However, as environmental and social awareness increases, the market will naturally progress towards a sustainable state.
With forward movement in society, it is important to consider not just what will propel most toward success, but also what will help to sustain the environment along the way. What may have been considered appropriate decades ago, may no longer be socially acceptable due to the changes observed in both the business world and the environment (Fiske, 2010). Therefore, it is important for organizations thriving in today?s economy to consider how they may capitalize most effectively from their product or service of choice while minimizing or eliminating any damages along the way (Knoke, 2012).
In relation to sustainability, more and more this aspect is becoming very important for a company’s bottom line and for them to differentiate themselves from their competition that fails to establish a sustainability program. In a macro sense, it ethically responsible to establish a sustainability program to identify ways that the firm can make a difference globally and reduce their overall expense and
Stakeholders and investors are no longer only interested in financial performances, they are interested in the governance of the company like what business practices and business models are implemented, social performances, how the company is giving back to society, how costumers are handled, environment and how diversity at work placed is addressed. Hence relevant information must be provided to the stakeholders to assure them that the company has a sustainable business model (Ridehalgh, 2012).
An increasing large number of firms are developing mission statements that also attempt to define the social and ethical boundaries of their strategic domain. Some firms are actively pursuing social programs they believe to be intertwined with their economic objectives, while others simply seek to manage their businesses according to the principles of sustainability – meeting humanity’s needs without harming future generations. For example, Unilever has launched a variety of programs to help developing nations wrestle with poverty, water scarcity, and the effects of climate change. The firm’s motives are at least as much economic as moral. As environmental regulations grow stricter around the world, the firm must invest in green technologies or its leadership
Improving sustainability within the firms upgrades talented workers to be more proficient and profitable as a factor of their commitment to the organization. It is comprehended that organizations pay special mind to reasonable procedures as there can be an orderly way to deal with spotlight on business targets like decreasing expense of job,, expanding income, overall industry and benefit et cetera (Bob Willard 2012). Thus, firms can hope to produce better profits for their speculations for their partners and shareholders and enhance the organization’s advancement sustainability is
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The purpose of this paper is to discuss organizational change and the management of that change. I will talk about the different drivers of change, the factors a leader needs to weigh to implement change effectively, the various resistances a leader may encounter while trying to implement change, and how various leadership styles will effect the realization of change. I will also discuss the knowledge I have gained through the completion of this assignment and how I think it might affect the way I manage change in my workplace.
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