Applying consistent business ethics can realize a healthy business climate, efficient and transparent is one of the major contributions that can be provided by the business to encourage the creation of an efficient market, transparent and able to provide great benefits for all stakeholders. business ethics have similar meaning to the business codes that distinguish between them is if business ethics
Aggressive product development strategies and the ability to meet the specific needs and demand of the customer are the key factors for growth and sustainability in these businesses. There are many barriers waiting for new entrants for the "electronic" and "mobile" businesses ranging from the retailers, insufficient infrastructure, difficulty in assessing supply or distribution channels and huge start-up capital. A business can reduce the competition from substitutes by taking action to differentiate its product, to enhance its performance and to increase switching cost for consumers. Technology can be regarded as a strategic asset and a business's ability to manage and exploit its technology could provide a competitive advantage.
For the firm to uphold the expectations of profitability towards growth, a constancy in innovation plans must be set. The innovation process begins with the value chain understanding, then implementing a competitive advantage approach to maintain growth. Nevertheless the important aspect of a business to properly maintain its capabilities the use of Information systems plays a massive role in business success plan. Nowadays firms to gain consumers appreciation in various forms such as, website surveys, follow up feedback calls and mail surveys. These are all appropriate methods to improve the business quality and performance.
Building sustainable supply chains not only benefits the stakeholders but also aims at safeguarding business interests. Businesses can easily become sustainable by understanding who they are and working closely with people. Nestle is company that has been at the forefront in advocating for sustainable supply through the ‘creating shared value’ platform. The report makes recommendation on the role of supply chain management in attaining sustainability. Nestle Sustainability Efforts Nestle recognizes its position as a global leader in food and beverage company and the unique role it
Conclusion A business intelligence strategy should be based on input from a wide range of stakeholders, because their input is valuable as it creates better decisions, improved efficiency leading to increased profits. The focus on the strategy must remain business driven throughout the process for it has the greatest chance of success.
This is one of the key reasons we made the decision to disclose our supply base; we believe this could encourage other companies to do the same. Our belief is that in disclosing, the industry will find ways to better share knowledge and learnings. This, in turn, will facilitate the building of further partnership approaches that are built on best practice and gradually lead us to standard codes, standard approaches to monitoring, standard reporting and standard parameters for transparency. It’s our belief that for market forces to enable responsible competitiveness, consumers must be able to reward brands and suppliers using fact-based information. Compliance efforts need to be optimized, made affordable and demonstrate real return if better working conditions are to become widespread.
Through innovation, the companies foresee these technological factors to deal with competitors to become successful. Nonetheless, innovation requires innovation planning and design process, which are essential for company growth. Innovation and Design in Today’s Business World: Organizations and businesses in the global environment are forced to permanently look for the most effective techniques to maximize their innovation management initiatives (Liem & Brangier, 2012, p.5244). Companies seek for such efforts or measures because of increased dynamism of the business environment. The innovation management efforts adopted by organizations and businesses are through new techniques and paradigms that serve existing and new markets efficiently including those with new and modified products and/or services.
Therefore, brand is a signifying of the company. However, a company must have good brand management to achieve the longevity of the company brand. It is because good brand management can lead the company to become a strong brand and it will improve the customer relationship through the brand management process which control everything about the brand does and says also (Temporal, 2010). Therefore, brand management plays an important role which will influence the longevity of the company and the brand name. Nowadays, many companies using the re-branding strategy of corporate marketing and build strong corporate brand to increase their competitive advantage between other companies such as Google, Mazda, LG, Zara and more (Punjaisri & Wilson, 2007; Temporal, 2010).
The specific components affected by the vision are the people, portfolio, partners, planet, profit, and productivity. Combining all of the factors creates a general social and ethical goal to accomplish sustainable growth. More specifically, People: Be a great place to work where people are inspired to be the best they can be. Portfolio: Bring to the world a portfolio of quality beverage brands that anticipate and satisfy people's desires and needs. Partners: Nurture a winning network of customers and suppliers, together we create mutual, enduring value.
Customer social responsibility can build the loyalty and trust that both ensure a bright and sustainable future in business. In our global society, corporations are becoming increasingly visible, and are judged on their results and behaviour. The reputation of a brand is achieved, in part, as a result of corporate governance. By integrating corporate social responsibility into your business as a core value, you are contributing to a better society and will be recognized for doing so. Businesses can increase their CSR by supporting public expectations, focusing on long-run profits, complying to ethical obligations, boosting their public image, bettering the environment, discouraging further government regulation, balancing responsibility and power, remembering stockholder interests, and building a superiority of prevention over cure.