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Introduction Of Sustainability and Business Assignment
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Sustainable practices may assist to the overall profitability of a company in addition to achieving social and ecological transformation. It may be counter-intuitive to spend extra money on sustainable corporate practices, yet studies have shown that the most sustainable firms are the most lucrative. The metrics of ecological, social and governance (ESG) are commonly utilised to assess how an organisation is ethical and sustainable (Martínez-Martínez et al., 2019). The medium as well as long-term performance of companies with strong ESG ratings is continuously high. Although sustainable development techniques may be a short-term investment, they can bring long-term advantages.
Discussion of the Key Sustainability Issues Prevalent in the Garment Industry
A notion of the organisation of procedures in such a manner as to prevent the use of environmental assets is Sustainable Development. The meaning of SD words can be misleading and vary between professions and businesses as per literature. The best approach to convey the SD idea though is to grasp the definition of the fundamental word 'sustain' (= to 'maintain'), and to recall that has three major dimensions: economics, society and the environment. When cross-cutting businesses with these dimensions, ethics, sustainability policy, or the two govern certain ways and activities (Carlson and Bitsch, 2018). The following figure gives the definitions of SD. Since 1980, the administration has been aggressively promoting the expansion of the clothing sector in Bangladesh by legislation.
Although the article does not focus so much on the environmental effects, the literature also covers ecological and financial factors and contends that ecological and resource conservation, dangerous chemicals and pollutants / waste are key concerns for sustainable development in business. Researchers believe that sustainable issues in the clothing business are multifaceted and depend on suppliers and customers, including the position of the government, authority and willingness to regulate effectively (Garcia-Torres, Rey-Garcia and Albareda-Vivo, 2017). Poverty, corruption and poor socioeconomic developments in nations can contribute negatively. Public knowledge and excellent communication of these matters are also seen as key measures towards improved sustainability, in conjunction with Global activities.
An instance of this is Disney's choice not to use factories in Bangladesh for the production of their items. But this is a delicate decision and what is the best method. To deny contract vendors that disregard the concerns of sustainability and human rights, or to help producers/countries improve their requirements which some firms might find costly and impossible solutions. Generally speaking, literature states that few megatrends identify the main obstacles in implementing sustainable projects (Nath, Eweje and Bathurst, 2021). These patterns are described below and action topics are highlighted. These great developments lead to problems which make it harder for sustainability plans to be implemented.
Globalization, for instance, has transformed trade, manufacturing and financial flow patterns (Goworek et al., 2020). The global financial system is becoming more delicate and it regrettably does not always staffing requirements and inventions; in constructing nations impoverishment and unfairness are growing, and as in the case of Bangladesh, the global economy is making good returns from development drawbacks that promote untenable consumption patterns.
Demonstration of a General Understanding of the UN Sustainability Development Goals and the Threats faced in Implementation of Sustainable Initiatives in the Apparel Industry
Two above-mentioned objectives directly overlap the case study of Bangladesh: Goal 10 "Reduced Uniqueness" and Goal 12 "Responsible Consumption and Production." A 17-point agenda, created by 193 country leaders over a ten year period in 2015, is the Sustainable Development Goals (SDGs). The UNDP1 is the world's leader in poverty reduction, human welfare and environmental protection (Olofsson, 2018). By attaining these objectives, the world may effectively overcome all the hurdles that are existing in terms of supporting/implementing sustainable development in all areas of our lives by 2030 and propose effective action to achieve them. SDGs encompass most problematic areas. All 17 SDGs are shown in the following figure:
How textile/apparel sectors have evolved over the last decade’s increases the danger of earning a profit by leveraging disparity between individuals or nations, the shift in the industry is mainly seen in expanded SC networks to the nations, where production may be considerably cheaper, and in transferring textiles manufacture and sewing plants overseas. Now it is hard to realise that the fabric was made in the same place/country a few of decades ago that clothing was created and built (Lal et al., 2021). The right example, however bad, is the case: Bangladesh production is cost-effective for several justifications: it is a low-income country, where individuals are prepared to work for very low salaries which are unaccountable; workers do not receive education and the large percentage are women and their work is lower in price and when they are not married, work overload is easy to work for unrestricted.
Government rules do not promote the protection of individual rights in the fields of health and safety at work nor in the labour code. The case study shows how spectacular a production-side work, when wealthy, may be contractors are not aware of a condition in factories and factory owners abuse employees because government does not take care of the issue or is unable to control it through appropriate safeguards (Shen et al., 2020). Although the case study fails to stress environmental impacts, it is quite simple to infer how individuals and particularly women and children in Bangladesh industries are abused and how the atmosphere is harmed on the basis of working circumstances at companies.
When companies and in particular their buyers have been adequately honoured for the principles of accountable and ethical manufacturing, their conduct will impact and customers will become more responsible for deciding what they are to purchase and at what price. Sustainable production influences the company's credibility and consumers may contribute significantly to the improvement of sustainable production methods by taking ethical choices when they purchase products and services (Rudolph et al., 2020). The chart below shows that ethical consumerism is a key advantage in persuading company owners, governments and society in promoting sustainable development.
Demonstration of a Critical Understanding of the Effects of Sustainability on Supply Chains in the Apparel Industry
SC is a complicated system leading to the final production and can be a mixed system of material, data, personnel, operations and organisations. The supply chain is a mixed economy. "The SC conceptualise the whole physical procedure from the purchasing and procurement of basic materials throughout all operational phases to the end user (Yadlapalli, Rahman and Gunasekaran, 2018). Many individual firms, each of which is connected through their share in meeting the particular requirement of the end customer" are the majority of supply chains. Every SC comprises elements in production and consumption.
Today, one of the most polluting sectors with a long international outsourcing chain is the textile or clothing industry and this scenario was caused by the major shift in recent decades when manufacturing was moved out of nations and SC became multinational / decentralized. Formerly, clothing was locally created using materials that were sourced domestically (Bubicz, Barbosa-Póvoa and Carvalho, 2019). New SC management strategy has generated ethical difficulties when producers are not engaged in the production of materials and clothing. In the textile and clothing sector, the danger of infringing labour rights and other harmful human and environmental practices is very significant.
Significant factors include that many clients are ready to pay more, especially human rights abuses, as detailed in Bangladesh's case studies, because of the rise in knowledge and not accept bad practices. Incorporation of concepts of sustainable development to the supply chain is therefore becoming more essential for both consumers and manufacturers, sometimes for commercial purposes, but at the same time hard for companies (Luthra et al., 2018). Ethical production generally becomes a concept/philosophy, impacts a brand reputation and determines success/profits. The following figure shows ethical sources:
A corporate social responsibility, ethical resourcing/manufacturing; the low carbon supplier chain are all regarded, as are literary measures for sustainability: enhanced corporate social responsibility and innovations such as environmental sustainability, conservation or pr Further study is needed in tackling challenges such as waste management techniques, management of environmental risk, assessment and assessment methodology, supply chain management, involving contractual coordination, etc. (Roy, Silvestre and Singh, 2020). Researchers also highlighted numerous challenges like the fragmentation of SC, consumer desire and volatility of the market. The following graphic shows all the industry's stages and essential topics for sustainable thinking. This number also covers efforts by renowned firms to improve the management of sustainable SC.
Evaluation of the Global Best Practices in Ethical Sourcing Implemented by Organisations in the Apparel Industry
Ethical sources are used to pick row materials, where the buyer considers how staffs are handled and how the components are produced sustainably together with quality and pricing. There are instances of failing clothing firms that could not fulfil the ethical resource criteria (i.e. Gap). Consumer behaviour is crucial here; therefore most firms are currently launching worldwide campaigns to comply with ethical resource criteria to achieve business success. The businesses Adidas, Patagonia, Marks & Spencer and H&M have created "additional miles" of ethics supply for a brand image (Oelze, 2017). There are several methods to implement SD principles, such as ensuring that the plants situated outside the country are regularly controlled, demanding accreditation for inclusion on the SC, assisting factory staff in different ways, etc.
The firm Marks & Spencer is one of the so-called 'higher street brands' who never cancel a factory merely because they do not comply to the requirements, and it knows what it does for the contractors to lose their agreement. "Global Community" and "Plan A," which contain of hundreds of various measures, is well-known to Marks & Spencer, but cross-cutting topics always promote the rights of staff in foreign countries, helping entrepreneurs achieve health and safety standards and technological standards that are beneficial to communities (Nawaz and Koç, 2019). Marks & Spencer has provincial offices, which provide easy monitoring of the situation in manufacturing and first source data.
It must be noted that worldwide advertising may seem to be more efficient, but a splintered strategy may be at danger of being more marketable and gaining customer awareness. Compatible long-term methods, such as being upfront in revealing subcontractor identities and continuous processes for delivering employee advantages are better. The most successful ways are to engage and assist regions and contractors in the advancement of technology, waste-free manufacturing and the implementation of necessary regulations (Nayak, Akbari and Far, 2019). In order to assist customer’s access and comprehend the real effect of any local or global initiatives and not be lured by 'green-washing,' it is also extremely vital to educate customers.
Formulation of Sustainable Strategies to Improve the Working Conditions of the Garment Workers in Bangladesh
Sustainability is part of every company plan in the current world. Corporations must show what they are doing to conserve the earth and how employees/impaired individuals advantage. Sustainability is a concept and action plan, which companies conceive of SD and how they aim to guarantee compliance. Research has shown that 66% of business experts believe sustainability to guarantee performance and profitability, and 73% feel most businesses require some sort of advice to create and improve their sustainability plans (Alamgir and Alakavuklar, 2020). The 5 phases to create and execute the sustainable development strategy. The following are the following stages outlined and described:
The table below shows concerns of Bangladeshi garment workers and proposes methods for improving the situation:
Initiator or Leader or Implementer
Remuneration of Personnel
To provide a payout beyond minimum salaries and equal remuneration for women and men.
Organisations and Factory’s Manager
In order for no-one to work longer than ordinary hours and all overtime compensated proportionately.
Organisations and Factory’s Manager
Set health and safety standards and make it mandatory for every contractor to comply with them.
Organisations and Factory’s Manager
To develop an evaluation and evaluation system.
Organisations and Factory’s Manager
Set limits on the permitted use of pollutants, water and energy and ensure that all entrepreneurs obey the guidelines.
Organisations and Factory’s Manager
Labor Cost and Other Regulations in the Country
To promote the development and empowerment of the labour union that can then negotiate policy and legislative reforms with the government.
Companies in cooperation with NGOs and local government
To assist factory licensing and make sure that agreements only with those who have a certificate are signed.
Companies in cooperation with NGOs and local government
To guarantee that the public and consumers know about the company's ethical standards in resourcing and production.
Research and Innovation
Invest in research to create creative ways to strengthen the SC's sustainability.
Critical Analysis of the Role of the HR in Driving Sustainability in Such Organisations
Human resources management (HRM) monitors procedures and activities linked to workers at the centre of the company and. Training and development is one of the HRM tasks and is aimed at strengthening employee capacities, giving the necessary information, information and competencies. HRM also encompasses healthcare, security, ethical standards and, above all, contributes to the management of transformation, adapting all processes and practices to new needs and contexts (Pham et al., 2020). Consequently, it can also be the job of HRM to develop and promote sustainable culture in the organisation. A list of several methods in which HR may help build a suited culture in the organisation has been established.
HRM begins with engaging with top executives and adapts the HR strategy, particularly sustainable techniques, as per business needs. The next stage is to communicate to employees what SD is and how the corporation's performance and well-being is connected. In all phases of manufacturing or services, it is thus extremely necessary to include the staff in the procedure of integrating sustainable and at the same time to keep customers and prospective customers aware of the situation and the business actions in terms of SD (Ahuja et al., 2019). There is a belief that sustainability may be emphasised from the recruitment stage, which means that new employees should be sensitive to concerns of sustainable development.
The method of assessing employee performance must bring comparable efficacy into account (Baum, 2018). In other respects, all the phases and activities of HRM must include SD. Studies show that very few corporations comprehend the responsibility of HR in improving and incorporating sustainable practices and that converting HRM into a strategic body has changed over the past couple of decades, and thus not everyone recognises HRM's role in promoting sustainable culture and the adjustments connected to the influence of the corporation on employees and the following figure demonstrates the Green HRM idea which contains various components including workers, the ecosystem and community.
Selection of Brand(s) and Critical Review of Some Strategies Implemented by them to Manage Sustainability in their Business
Furthermore, the situation of Rana Plaza in Bangladesh has thoroughly shown that all companies contracted manufacturers in Plaza have not been expanded to outsourced manufacturers in foreign countries for their commercial principles and ethics. Furthermore, neither were informed of the tragic inhuman circumstances in the factories and consequently never accompanied a notion of 'shared value' or social responsibility for their CSs and, as CEOs in the company's sustainability leadership, either supported green cleaning or the rulers did not comprehend their role and area of efficiency and coverage (Ishaq and Di Maria, 2020). It is; nevertheless, already known that the situation of Bangladesh has totally transformed the backdrop of the world’s textile, clothing and clothing industry by placing far greater responsibility on corporations.
Leadership in sustainable development is relatively new and, as some scholars say, transitory throughout the transition phase while the globe introduces/establishes/promotes sustainable development and until it becomes common for any firm worldwide. It also supplied the needed descriptions and justifications, based on interviews with CEOs and others at various companies globally extended models for sustainable leadership (Abualfaraa et al., 2020). The authors' basic description of sustainable leadership "is someone who motivates and promotes activity for a better society." The writers included three key ideas on leadership, one focusing on a leader's own characteristics, the outside situation that forms leadership behaviours, and the other. The instance of Rana Plaza has shown how shifting contexts have affected the leaders' actions to promote sustainable development.
Critical Evaluation of the Role of the CEO of these Brands or Organisations in Dealing with Such a Reputational Crisis
The ruin of Rana Plaza caused 1129 deaths and 2000 injuries in the SC management globally, which resulted in a ruin of Rana Plaza in 2013. Famous businesses have evaluated their supply chains with regard to sustainability and have adopted new guidelines for ethical manufacturing. The "Fire and Safe Building Accord in Bangladesh" has been signed specifically by more than 200 clothing companies from 20 countries to prevent future catastrophes comparable. The agreement managed to reduce 97,000 of 132,000 risks in Bangladesh's manufacturing (Liu and Li, 2021). The catastrophe at Rana Plaza has exposed that most companies do not know where and what their factories operate, yet their reputations could not be saved thus clothing manufacturers began to make huge adjustments by incorporating sustainability problems into their business plans.
Benetton was one of the brands that had a big impact on their reputation. It became evident that Beneton's last purchase was sent two weeks before its catastrophe, which at initially denied any link with Rana Plaza. The firm delayed payments to the Donors Trust Fund formed in order to recompense the victims/families and their sales had a negative impact on all those delays and lack of transparency. Customers, particularly young men, protested in stores and workplaces, accused Benetton of exploiting employees and established arbitration (Jahng, 2021). In 2014 and 2015, a company's sales therefore fell considerably. In 2015, the firm had to re-brand its advertising approach to improve profits and revenues.
The advice to CEOs to satisfy the sustainability criteria in Rana Plaza can be articulated as follows on the basis of the debate above:
- Put sustainable development plan into the company's corporate principles and strategic HRM priorities.
- Know all SC elements, independent of location and kind of contract, about their working circumstances and values.
- Take serious measures and give community, staff and the environment particular attention.
- Establish internal health and safety standards and pollutants and ensure that all SC aspects are in line with the principles of ethical sustainability.
- Be honest, transparent and sustainable in company processes.
- Follow 'three actions,' 'social corporate responsibility' and 'approaches of shared value.'
- Inform and prevent green washing, be part of the community that creates and promotes the worldwide sustainable culture.
a) Biodiversity loss, resource scarcity, population increase and, global warming on Informational Technology Industry
Population expansion and the associated rise in economic/industrial activity have negative consequences like “global warming”, “resource scarcity”, and “biodiversity loss”, all of which are direct consequences of human industrial activity in recent decades. “Global warming (GW)” is a shift in weather patterns caused by the industrial revolution’s increased temperature, which became notably noticeable in the mid-twentieth century.
International organizations, academics, and professionals assert that GW has a substantial influence on companies( Bartholy and Pongrácz, 2018). Explicitly, extreme weather events such as floods, storms, and temperature changes have a substantial impact on businesses, i.e. create difficult working conditions and increase insurance costs; they can also affect the supply chain and disrupt operations due to changed availability/cost; they can result in a change in demand or public pressure that results in changed regulations. However, GW effects may be viewed as opportunities to improve sustainability approaches through the introduction of new technologies and a greater emphasis on public benefits and services (Shukla, Verma and Misra, 2017).
Another worldwide trend influencing business industries is population growth, which may have a beneficial influence on the economy by expanding its production capacity but can also have a negative effect by increasing food insecurity, housing difficulties, health system spending, and natural resource depletion. Scarcity of resources is one of the negative consequences of population expansion and increasing/irresponsible consumption; particularly, resources can be drained by rising demand, resulting in resource depletion or mismanagement (Tashman, 2021). Shortage of natural resources is defined as a situation in which demand exceeds supply, resulting in a scarcity of accessible resources. Indeed, resource scarcity is produced by unsustainable usage over an extended period of time. The loss of biodiversity on the planet is a result of industrial waste and pollution, resulting in major changes to the environment, which may have a profound detrimental influence on people’s health and well-being in the future (Mace et al., 2018).
The Information Technology Industries has a unique position in the world. Increased pollution, population expansion, followed by demographic changes such as population exploration and biodiversity loss, all contribute to an increase in the need for Informational Technology Industry Industries. Informational Technology Industry firms are increasing their investment in research and development to create new services and products. The population places a financial strain on innovation systems that are now shifting their focus to prevention and reducing their reliance on Informational Technology Industry. The public places further pressure on the business, seeking greater transparency in operations and, particularly, in treatment pricing.
Global dynamics contribute to the actualization of sustainable development. This adds further pressure and scrutiny to the sector. To address all of these sustainability challenges, businesses must make significant financial expenditures and organizational/marketing efforts to maintain a market share, steady reputation, and profit margin.
b) Identifying sustainable development finance issues, solutions and suggestions
Financial constraints may jeopardize the achievement of sustainable development targets by 2025 (Tomislav, 2018). This is a well-recognized issue by many international organizations. Despite enormous international financial support, emerging markets constitute a significant impediment to attaining the “Sustainable Development Goals” (SDGs) by 2025. The Organisation for Economic Co-operation and Development (OECD)’s Total Official Support for Sustainable Development (TOSSD) project aims to close that gap. The OECD estimates that the yearly funding gap (public and private) is in excess of USD 2,500 billion. International society recognizes that greater finance must be accompanied by an increase in the quality and efficacy of all spending. Renewed methodologies and standards for international development finance are in great demand, particularly in terms of evaluating and implementing highly efficient sustainability activities. Thus, improving the quality and productivity of sustainability measures, as well as incorporating SDGs into international development programmes concentrating on poor nations, are two of the most feasible solutions to the funding gap and danger of SDG implementation failure outlined previously.
Informational Technology Industry, along with other related industries, has a significant effect on attaining the SDGs (Gomez-Echeverri, 2018). To prioritise functioning above sustainability—the primary concern should be the fruitfulness and durability of services and products as they travel through the supply chain. In other terms, not to jeopardize the quality. To create novel management solutions and place a premium concentration on “corporate social responsibility” and to ensure that it encompasses all three pillars, including community/people, environment, and economics. “Corporate values” and “company ethics” should be inextricably connected; when chosen prudently and applied successfully within a complete risk management framework, they frequently result in market value and distinction. To completely comply with international regulations—as it is a highly regulated sector, which implies that regulatory compliance may greatly improve sustainability activities and approaches is highly important. Transparency and real concern for the earth and its inhabitants—to keep the public informed, to prevent greenwashing, and to place a premium on the most long-term efficient, inventive, and successful sustainability initiatives is a must.
c) Exploring and discussing creative business ideas that will assist the firm in solving sustainability problems
Utilizing innovations is often regarded as one of the most successful strategies for tackling sustainability concerns. While innovation takes financial expenditures and may appear to be costly at first look, it ultimately results in increased efficiency and savings. The illustration below depicts how innovation is typically regarded in the Informational Technology Industry.
Nevertheless, innovation in this business encompasses much more than enhancement. Innovation in IT industries and for its profession is a continuous exciting, complicated, and creative process that encompasses even more than research and development.Imagination, ideas, possibilities are connecting the dots with a diverse population all contribute to the discovery of today’s technological advancements.
Sustainable and responsible manufacturing is critical to the industry’s sustainability efforts, as it is one of the most polluting industries, wreaking havoc on the ecosystem. sustainability might refer to two distinct concepts in the setting of IT production. To begin, sustainability might relate to the concept of safeguarding the firm by avoiding risks that can jeopardise output and revenue. The second goal is to minimise activities’ environmental impact and planetary assets. These two ideas come together when IT firms evaluate the financial savings associated with decreasing environmental impact.
Technologies in the United States of America advocated It companies are creative, safe, and sustainable. The organization connects manufacturers with firms who are developing such technologies in order to assist them in identifying the most ecological and cost-effective service options.
d) Impact of regulations & international codes on sustainability in the Informational Technology Industry
The main purpose of the Informational Technology Industry is to enable the effective sharing of data to address some of society’s biggest challenges and help individuals and organizations be more innovative, efficient, and productive. For implementing this all the businesses are also required to demonstrate the added value of their activities. There are no standardized guidelines on how to integrate sustainability into the business, thus each company designs its own understanding and approach to benefit the planet and communities without compromising business profits. Creation and production require a significant amount of natural, human and financial resources. Production involves big risks to the ecology, but it can be also seen as huge opportunity, as IT businesses can do very positive enhancements to ensure the sustainable future of the planet. In recent decades sustainability strategies of the companies significantly determine their competitive advantage, so IT companies have become very proactive in integrating sustainability in their operations (Taeihagh and Lim, 2019). The main goal is to be the most efficient in producing high-quality products and at the same time to do it sustainable. This requires a trade-off between spending and outputs. Among some initiatives by the companies can be mentioned green IT practices, aiming at reducing consumed energy; carbon-neutral movement aiming at reducing carbon pollutions; plastic neutrality and reducing waste in the water and soil is one.
Transparency and accountability is an important element of driving sustainable approaches. The consumers must be informed about sustainability activities of the companies; it increases the reputation of the brand. The supply chain of Informational Technology Industry is quite large, this industry needs to ensure sustainability at all stages, however, it should be mentioned that the production stage is a critical element of the chain.
The ethics of IT companies is a widely discussed topic and many experts consider unethical marketing activities of the IT industry. This is actually why this industry became one of the most regulated businesses, as regulations are one of the effective ways to regulate business ethics. The countries like the UK, France, Germany and most part of Western Europe have the most developed IT companies. This aids them to save money from investing in research and development and sustainable manufacturing in order to produce high-quality products and ensure their brands' reputation as they have already built that.
e) Examination of the influence of legislation and international standards on the sustainability of the Informational Technology Industry Industries
As a result of globalisation, the Informational Technology Industry Firms is dominated by multinational corporations that must adhere to both domestic and international rules concurrently. The primary regulatory concerns in this industry are about data privacy, in a post-GDPR environment, privacy may be the single most important concern for customers. Regulation of artificial intelligence is gaining traction—and with cause. Every sector, from production to clerical labour, is being disrupted by automation. Regulation and government action are of utmost importance for this as copyright laws are always changing.
Because the quality IT products and services directly change the conception of technology of people who use it. The international organizations that provide guidance on these standards; however, are keeping an eye to safeguard whatever international codes they want. Each country maintains technological advancement as it is a must.
IT is a highly regulated industry, although the extent to which it affects the environment is mostly determined by local and national legislation. SDGs impose extra pressure and requirements on businesses to adhere to ethical manufacturing standards. Sustainability has become a selling point and a determinant of a company’s reputation; as a result, these are constantly improving their technologies and exposing innovations in order to create ethically manufactured products that are of the highest quality and generate the most revenue. Sales and marketing are other sectors that are heavily controlled at the local level in the business. Regulations cover a variety of topics, restricting advertising via mass media (Hempshall, 2019).
Additionally, it should be noted that the majority of businesses have their own distinct codes of ethics and conduct in which they explain their corporate philosophy in terms of how they handle their employees, the environment, sustainability, and human rights (Medzini, 2021). National and international rules have a significant impact on the IT industry, primarily in a favourable way that benefits customers, but also presents challenges for corporations, which frequently must make additional efforts to remain competitive and maintain stable profit margins (Morioka et al., 2017).
In reality, persuading management to adopt regulations and codes is contingent on a variety of factors, including industry, business level, organisational culture, management style and hierarchy, and so forth, as I am considering a hypothetical scenario rather than the organisation where I currently work. However, I believe that I must emphasise the company’s positives. I must describe how adhering to international standards enhances the quality of products or services, how this benefits the workforce, who becomes more efficient, productive, and results in better outcomes, and how enhanced operations impact the company’s competitive advantage. Additionally, I should clarify that buyers are more knowledgeable and frequently choose to pay a premium for items made ethically. Additionally, it may be useful to justify by bringing instances of multinational firms that have destroyed their reputation by not adhering to sustainability standards, therefore harming the environment, violating human rights, or utilising suppliers that abuse employees, and so on (Nosratabadi, 2019). I would attempt to include the human resources department and incorporate a sustainability component into regular employee training sessions. In this scenario, sustainability actions will be taken not just to comply with the policy, but out of genuine appreciation for how beneficial it is to have a stable and sustainable supply chain and the impact it has on the individuals around us, the planet, the company’s reputation, and including our own families future.
f) Critical discussion of the sustainability report “Etisalat”
“Emirates Telecommunication Group Company PJSC”, doing business as “Etisalat”, is a global Emirati telecommunications services company with operations in 16 countries in Asia, the Middle East, and Africa. It is the world’s 18th leading telecommunications provider in terms of customer base (ETISALAT 2019 SUSTAINABILITY REPORT, 2020). Everything they do is guided by a commitment to sustainability. They make a concerted effort to conduct themselves ethically and responsibly by living up to their mission of Paving the path for a sustainable and interconnected digital future. They are devoted to making a good difference in their communities while also achieving long-term success.
They’ve developed a progressive roadmap for monitoring, benchmarking, and constantly improving their financial, environmental, and social effectiveness.
Understanding the perspectives and concerns of Etisalat’s different stakeholders helps us shape their business processes and strategic objectives. They work with key stakeholder groups on a regular basis to assist define and develop their sustainability approach. They listen to and solicit input from the stakeholders who really are impacted by their company through a variety of communication channels.
They are always on the lookout for and responding to new global and regional issues that provide both dangers and possibilities for the business and “key stakeholders”. To ascertain critical material problems, they:
- Conduct desk-based research, including a study of rival businesses, industry standards, and staff interviews, to identify a list of probable significant concerns.
- Prioritize stakeholders (internal and external) and subjects in order to assign a perceived significance to material concerns.
- Conduct an internal review of the outcomes with Etisalat management and the sustainability group. This assessment ensures that the inventory of material problems is comprehensive and represents the viewpoints of all stakeholders.
They use a sustainability framework to define and manage their environmental, social, and financial effects in order to conceive sustainability. Their approach is built on five pillars: “Accountable Business Practices”, “Market and Customer Focus”, “Community Engagement”, “Environmental Stewardship”, and Their “People” (ETISALAT 2019 SUSTAINABILITY REPORT, 2020). They think that a strong foundation, backed up by continuous improvement programmes, will enable us to accomplish their strategic business goals.
Their sustainability initiatives are guided by national and international goals such as the “UAE Vision 2021” and the “UN Sustainable Development Goals”. This is necessary to ensure the long-term growth of a strong economy and a committed society.
As one of the region’s leading telecom businesses, they acknowledge their industry’s responsibility to contribute meaningfully to national and international standards and sustainability goals, including the GRI, SASB, UAE Vision 2021, and the UN Sustainable Development Goals. Their sustainability strategies and activities have been coordinated to support these audacious aims.
In a nutshell, the discussion done on the segments of task one and task two examined details about Sustainable practices that contribute to companies’ total profitability while also accomplishing social and ecological transformation. It also meticulously discussed about sustainable development approaches and scrutinized data related to it.
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