Answers Must Be At Least 8 Sentences, No Plagiarism, Use Ref

Answers Must Be At Least 8 Sentences No Plagiarism Use References If

Answers Must Be At Least 8 Sentences No Plagiarism Use References If

Answers must be at least 8 sentences. No plagiarism, use references if needed. 1. Develop a simple innovative framework for a business concept of your choice using the five key questions (what, when, where, who, how).Next, predict whether or not this strategy will require an incremental change or radical change, and provide a substantive discussion on your selection of either incremental or radical change. 2. Discuss a prominent environmental or sustainability practice employed by a company that you believe has been forward-thinking and successful in its efforts. How have their policies impacted the company, society, and the environment?

Paper For Above instruction

Introduction

In today’s rapidly evolving business landscape, innovation is crucial for maintaining competitiveness and fostering sustainable growth. Developing a simple yet effective framework to guide innovative strategies involves addressing fundamental questions: what, when, where, who, and how. Additionally, understanding the nature of strategic change—whether incremental or radical—is vital for successful implementation. This paper presents a hypothetical innovative business concept using this framework and discusses the type of change it may necessitate. Furthermore, it examines a forward-thinking sustainability practice employed by a prominent corporation and evaluates its impact on various stakeholders.

Developing an Innovative Framework for a Business Concept

Let us consider the concept of a sustainable urban mobility service as our business idea. The 'what' involves providing eco-friendly transportation options, such as electric bikes and autonomous shuttles, tailored for urban commuters. The 'when' refers to the deployment phase, ideally timed with city infrastructure upgrades and increased urban population density, typically projected for the next five years. The 'where' centers on densely populated metropolitan areas with high congestion levels, such as New York City or London. The 'who' includes urban residents seeking affordable, eco-conscious transportation, municipal governments, and environmental organizations. The 'how' entails leveraging smart technology, partnerships with city planners, and deploying renewable energy sources to power vehicles.

This strategy leans toward requiring a radical change because it disrupts the conventional urban transportation framework and incorporates advanced technology and novel service models. It challenges existing infrastructure, necessitating significant revisions to policies, investments, and consumer behavior. The radical change approach aligns with the need for transformative shifts to address climate change and urban congestion effectively, unlike incremental changes that focus on small, gradual improvements.

Incremental vs. Radical Change

Choosing between incremental and radical change depends on the overarching goals and the scope of innovation. Incremental change involves small adjustments that improve existing processes and are generally safer, less resource-intensive, and easier to implement. However, for truly transformative ideas like eco-urban mobility, radical change is often indispensable as it enables a complete overhaul necessary for meaningful impact. In this case, implementing a radical change could lead to systemic improvements in urban living, significantly reducing carbon footprints and enhancing quality of life. Conversely, incremental updates may fall short in addressing global environmental challenges and urban congestion effectively. Therefore, adopting a radical change strategy, despite its risks and higher initial costs, aligns more closely with the goals of substantial environmental and societal benefits.

A Forward-Thinking Corporate Sustainability Practice

One notable example of a progressive sustainability practice is Patagonia’s commitment to environmental responsibility. The outdoor apparel company has integrated sustainable practices into all facets of its operations, including using recycled materials, promoting fair labor practices, and encouraging product repair and reuse. Patagonia’s policy of environmental activism has garnered widespread recognition for its forward-thinking approach, including pledging 1% of sales to environmental causes and advocating for policy changes to combat climate change (Patagonia, 2023). This initiative has positively impacted Patagonia’s brand reputation, increasing customer loyalty and attracting environmentally conscious consumers. Society benefits from Patagonia’s proactive environmental stance through the promotion of sustainable consumption and corporate accountability. Environmentally, the company’s practices reduce resource depletion and pollution, contributing to the global effort to combat climate change. Patagonia’s example demonstrates how integrating sustainability into core business strategies can yield economic, societal, and environmental benefits, serving as a blueprint for other corporations.

Conclusion

In conclusion, developing a strategic framework based on fundamental questions facilitates innovative thinking and effective decision-making. Whether a business strategy requires incremental or radical change depends on the scope and impact of the envisioned innovation. Patagonia exemplifies a company whose forward-thinking sustainability policies have benefitted the environment and society while also enhancing its brand value. These examples underscore the importance of strategic planning and sustainable practices as vital components of modern corporate success.

References

Patagonia. (2023). Our Footprint. Retrieved from https://www.patagonia.com/our-footprint/

Christensen, C. M., & Raynor, M. E. (2013). The Innovator's Solution: Creating and Sustaining Successful Growth. Harvard Business Review Press.

Porter, M. E., & Kramer, M. R. (2011). Creating Shared Value. Harvard Business Review, 89(1/2), 62-77.

Hollins, B. (2020). Sustainable urban mobility planning: A review of current practices. Transport Policy, 91, 145-155.

Figueres, C., & Rivett-Carnac, S. (2019). The Future We Choose: Surviving the Climate Crisis. Knopf.

Elkington, J. (1998). Cannibals with Forks: The Triple Bottom Line of 21st Century Business. New Society Publishers.

Sachs, J. D. (2015). The Age of Sustainable Development. Columbia University Press.

McKibben, B. (2010). Eaarth: Making a Life on a Tough New Planet. St. Martin's Press.

Lo, S., & Yeung, S. (2020). Corporate sustainability practices: A review of recent literature. Journal of Business Ethics, 162(2), 235-250.

World Economic Forum. (2020). The Future of Urban Mobility: Trends and Innovations. Retrieved from https://www.weforum.org/reports/the-future-of-urban-mobility