College Of Administrative And Financial Sciences MGT 601904

College Of Administrative And Financial Sciencesmgt325 Management Of

Analyze and discuss the adoption of standards, measures, and policies by two selected companies to enhance their environmental quality. Additionally, develop a hypothetical technological company that exemplifies sustainable development by outlining its operational fields and incorporating at least three elements of sustainability in its techniques.

Paper For Above instruction

Environmental sustainability has become a crucial focus for corporations aiming to balance economic growth with ecological responsibility. Companies like IKEA and Nike have made significant strides by implementing innovative standards and policies that elevate their environmental performance. Understanding these strategies provides insights into effective corporate environmental management and serves as a blueprint for developing sustainable business models.

IKEA has established numerous standards to promote environmental sustainability. One of its key measures is the integration of sustainable sourcing policies, notably sourcing 100% renewable or recycled materials for its products, which has substantially reduced its ecological footprint (IKEA, 2020). Additionally, IKEA adopted a strict energy policy that emphasizes the use of renewable energy in its operations. The company aims to generate or procure as much renewable energy as it consumes, with investments in wind and solar projects worldwide (IKEA, 2020). This aligns with its broader vision to become climate positive — reducing more greenhouse gases than its value chain emits by 2030.

Secondly, IKEA has adopted comprehensive waste management and packaging measures. The company has moved towards minimal packaging, recycling, and waste reduction techniques, which contribute to lower landfill waste and resource conservation (IKEA, 2018). These policies not only demonstrate responsible environmental management but also resonate with consumers’ growing ecological awareness, thereby boosting IKEA's brand loyalty.

Nike has also embraced numerous policies to improve its environmental standards. One notable policy is the implementation of sustainable innovation in product design, such as the development of footwear with Flyknit material, which uses significantly less yarn and generates less waste during manufacturing (Nike, 2019). Their move towards a closed-loop production system ensures that old products are recycled into new ones, fostering a circular economy within their operations (Nike, 2020).

Furthermore, Nike has committed to reducing its carbon footprint across its supply chain. Through its "Move to Zero" initiative, Nike leverages renewable energy sources and sets science-based targets to cut emissions by 30% by 2030 (Nike, 2021). The company also enforces strict supplier standards on environmental responsibility, requiring suppliers to adhere to energy efficiency and waste reduction practices, which collectively contribute to its overall environmental quality improvement.

In sum, both IKEA and Nike have adopted targeted standards, measures, and policies that significantly elevate their environmental standards. IKEA’s focus on renewable sourcing and energy use, alongside waste reduction policies, creates a sustainable supply chain, while Nike’s innovations in product design and commitment to supply chain emissions reduction foster a circular and low-carbon footprint business model. These corporate strategies exemplify how integrated policies and measures can lead to improved environmental quality and serve as exemplary models for other companies striving towards sustainability.

Applying these insights, my hypothetical technological company—EcoTech Solutions—operates in renewable energy technology, specifically manufacturing solar panels and wind turbines. The company's core fields of operation include research and development, manufacturing, and installation services. To incorporate sustainable development principles, EcoTech Solutions would prioritize three key elements: environmental stewardship, economic viability, and social responsibility.

Firstly, in its development process, EcoTech would utilize environmentally friendly materials in manufacturing, such as recycled metals and non-toxic components, reducing environmental impact (Dincer & Zamfirescu, 2019). R&D efforts would focus on increasing energy efficiency and durability of renewable energy devices to maximize energy output and lifespan, aligning with environmental stewardship goals.

Secondly, regarding economic viability, EcoTech would implement energy-efficient manufacturing processes that reduce waste and energy consumption, ensuring cost-effectiveness and competitive pricing (Karpen et al., 2012). Offering sustainable products that provide long-term savings on energy costs encourages widespread adoption, supporting economic development and sustainable energy transition.

Thirdly, in terms of social responsibility, EcoTech would prioritize fair labor practices, community engagement, and education initiatives on renewable energy benefits. Installing solar panels in low-income neighborhoods can improve energy access and promote social equity (Khan et al., 2020). The company would also invest in training programs to foster local job creation and skills development, reinforcing social sustainability.

By integrating these elements, EcoTech Solutions exemplifies a sustainable development-oriented technological enterprise. Its focus on eco-friendly materials and innovation supports environmental preservation, its economic strategies ensure survival and growth, while its social initiatives promote community well-being. Such a holistic approach positions EcoTech as a responsible leader in renewable energy technology, illustrating the practical application of sustainable development principles in enterprise operations.

References

  • Dincer, I., & Zamfirescu, C. (2019). Sustainability in Manufacturing and Service Industries. Springer.
  • Karpen, J., et al. (2012). Advancing Sustainable Business Practices. Journal of Business Ethics, 109(2), 159–172.
  • Ioannis Dincer & Zamfirescu, 2019
  • Khan, S. A., et al. (2020). Sustainable Energy Access and Community Development. Energy Policy, 138, 111268.
  • IKEA. (2018). People & Planet Positive: IKEA Group sustainability strategy. Retrieved from https://www.ikea.com
  • IKEA. (2020). IKEA sustainability progress report. Retrieved from https://www.ikea.com
  • Nike. (2019). Innovation and Sustainability at Nike. Nike News. Retrieved from https://news.nike.com
  • Nike. (2020). Move to Zero: Nike’s sustainability initiative. Nike, Inc. Retrieved from https://www.nike.com
  • Nike. (2021). Nike’s Environmental and Social Goals. Nike Impact Report. Retrieved from https://impact.nike.com

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