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Social and economic aspects of sustainability
Social and economic aspects of sustainability
Contemporary issues in health and safety in organizations
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Every organisations nowadays are concerned in managing Corporate Social Responsibility (CSR) and Sustainability as an essential matter of their operations management (OM). The demand to address sustainability in OM is driven by climate change and environmental issues, the workers well-being and communities, and other broad social demands defined as the triple bottom line [TBL] (Walker, Klassen, Sarkis, Seuring, 2014) the pursuit of social, economic and environmental objectives – within operations of a specific firm and operational linkages that extend beyond the firm to include the supply chain and communities. Different aspects of sustainable OM as mentioned in a recent study (Walker et al, 2014, p. 1) includes product design and eco-design, adoption of environmental and social standards, process improvement and lean operations, purchasing, supply chain management (SCM), logistics including recycling and closed-loop systems, performance measurement, and risk management.
In the recent research (Walker, Klassen, Sarkis, Seuring, 2014, p. 1), it was found that the research regarding sustainable OM has been increasing in last two decades which can be considered as a sensible changes in recent business and society. The underlying concern was that if we continue to consume resources at current rates, we would need over three planets worth of resources (Weizsacker et al. 1997, cited in Walker et al, 2014, p. 1). Consumers are concerned about how products are sourced and firms are being pressured to address the TBL.
This research paper analyses the articles appeared in International Journal of Operations and Production Management (IJOPM) which shows that sustainability research has inclined to be atheoretical in recent research. Out of a...
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...nagement, energy optimization, transportation optimization, technology upgrades, air quality, sustainable product design. Social sustainability in practice includes product safety, workforce health and safety, ethics and governance, community and economic aspects includes performance excellence, financial management, resource management, emergency preparedness.
Sustainability represents broad and, to many, a new paradigm for organizational performance. OM plays a vital role in helping organizations accomplish these goals.
Reference List:
Walker, H., Klassen, R., Sarkis, J., Seuring, S. (2014). Sustainable operations management: recent trends and future directions, International Journal of Operations & Production Management, 34(5), 1-11.
Collier, D. A., Evans, J. R., (2013), OM (4th ed.). Student Edition, United States of America, South-Western Cengage Learning.
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).
Wheelen, T. L., & Hunger, J. D. (2010). In Concepts in Strategic Management and Business Policy Achieving Sustainability, Twelfth Edition. Pearson Education.
Supplying eco-friendly products has been on the Walmart agenda since the early 1990s. After a failed first attempt and much criticism, the company decided to try again. In a speech made in October of 2005, CEO of Walmart, H. Lee Scott Jr., declared Walmart would devise a “business sustainable strategy” to reduce the environmental impact the company had. Walmart could not pull this off alone. If they only focused on the confines of themselves, rather than all that they were involved with, it was estimated that they’d only reduce their impact by about 10%. To reach that goal of 100%, Walmart had to involve stakeholders to make networks which achieve sustainability. These networks proved to be vital in not only Walmart’s goal in minimizing its environmental impact, but recovering their reputation, avoiding criticism, saving money, raising awareness, improving customer satisfaction, and creating incentive for other businesses to work towards sustainability.
(SNBC) was founded by Ken Grossman and Paul Camusi in 1979, but became operational in 1980. In addition, the company has been operational for 34 years now. The paper will discuss the integration of environmental sustainability and business operations of SNBC. According to studies and research, SNBC is committed to corporate social responsibility, especially the environment and community via environmentally friendly manufacturing processes leading to a good reputation, employee retention and attraction and profitability. The management is careful with the decisions and business operations they make regarding the environment since they affect their reputation and public
Today in the corporate world various strategies are applied to successfully run and execute transactions. In the recent years, the subject matter of Corporate Social Responsibility has escalated. “Corporate social responsibility (CSR) is a business approach that contributes to sustainable development by delivering economic, social and environmental benefits for all stakeholders” (http://lexicon.ft.com/Term?term=corporate-social-responsibility--(CSR). Communities are demanding that corporations take social responsibility for their actions, and elucidate the process of disposing waste in an environmentally manner to the people. Numerous businesses have initiated Corporate Social Responsibility approach in order to gain benefits, which will allow
Sustainability grows into a collective tenure in commercial morals, environs and is extensively used by the administrations, businesses, advisers etc. In recent times the conception of sustainability is widened,nowadays it not only comprisesecologicaldeliberation but also monetary and communityconcern. (Elkington, 1998).
The industry maturity scale shows 2019 predictions, that five companies will be excelling in rewards, either monetary or non- monetary, which will be the biggest contributions to sustainability performance. In terms of fiscal implications, the study is predicating sustainable companies will have positive fiscal implications, where they will gain more money from their sustainable performance, due to the right decision making for their company (Retail Sustainability Management Report 2017
DeNisi, Angelo S., and Ricky W. Griffin. HR2. [2e Éd.]. ed. Mason: South Western Cengage Learning, 2014. Print.
The economic part of corporate governance, economic development, and supply chain management. For the social - the company considers human rights, no child labor, workplace safety and management of the impact on society. And, accordingly, the activities in the field of environmental sustainability are the reduction of the risks of climate change and the achievement of environmental performance.
Stuart Hart, in a business article, discusses the tough task for companies to make a sustainable global ec...
Sustainability of the supply chain has increasingly become a crucial aspect of corporate responsibility. Apart from being good for business, management of social, economic, and environmental effects of supply chain remains the right thing to do. Constantly changing markets have created complex landscapes that businesses must navigate to build sustainable supply chains. Sustainable supply chains aim at creating social, economic, and environmental value for all stakeholders throughout the supply chain. 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.
Sustainable operation management is a management approach that involves planning, implementation and control of business operations that translate available resources into the required product or service. It is the management of business practices, traditions and operations to promote the highest level of efficiency, smooth workflow, and increased productivity in an organization. This management strategy ensures that the available labour force and materials are changed into products or services in a cost effective way to increase the company’s returns (Corbett, 2009). It also involves production waste management, food waste reduction, creating new opportunities, environment protection, and improving customer health. Sustainable operation management in the retail industry around the world has gained momentum in the recent years, in the face of customer pressure and media interest. It is particularly linked to the concepts of corporate social responsibility and global warming (Morrison, 2013).
Important companies like Shell, DuPont, BP have been reorganised to generate profits from this green market of goods and services. In this sense, it may sound altruistic, "the sustainability", the logic of profitability and competition is what will determine the ability of companies of the future to meet the changing needs of consumers. This premise of "sustainability" as a necessary quality to be competitive, falls short, according to Bryan Walsh of Time magazine. In a 2007 article, the expert shows how "sustainable" is helping to drive out competition, given the approach taken by companies to become more efficient, flexible and cutting waste, which helps them provide better products and reduce costs. Companies that refuse to accept that they will face a strict and demanding environment.
...tion’ has undoubtedly been initiated in the corporate and commercial sectors. In order to effectively bring about positive changes, organizations must also attempt to clearly influence public behavior in a sustainable direction. The problem with tackling environmental issues like climate change seems to be that the immediate apparent effects of it aren’t as strongly felt in comparison to other global issues such as terrorism. Businesses have conventionally been good at implementing safety, stringent quality standards and providing excellent customer service, since the effects of these problems are directly felt on the organization’s bottom line. However, Marks & Spencer PLC with its various initiatives has paved the way for other companies and demonstrated pioneering work in the field of corporate sustainability as an example of the scope of achievable improvement.
Vora, M,K, (2013) "Business excellence through sustainable change management", The TQM Journal, Vol. 25 Iss: 6, pp.625 – 640, Emerald, [Accessed 31st January 2014]