Improving Profitability By Applying Sustainable Strategies

Sustainability from a strategic business perspective is the potential for the long-term well-being of the natural environment, including all biological entities, as mutually beneficial interactions among nature and individuals, organizations, and business strategies. (O.C Ferrell, Fraedrich, Ferrell, 2015). Business sustainably is often defined as managing the triple bottom line – a process by which companies manage their financial, social and environmental risks, obligations and opportunities. These three impacts are sometimes referred to as profits, people and planet. (Business sustainability definition from financial times lexicon, no date). This essay will discuss the idea of sustainability being an important element within a businesses and its core strategies and the importance of it within different businesses. Secondly, this study will look at how different stakeholders are affected and influenced by sustainability as this could be seen as a catalyst to improving the environment as a whole and. Then this study will look at how businesses not focusing

Sustainable tourism development merges environmental concerns with economic policy (Dresner, S. 2008: 69) and allows for tourism’s products in the form of intangible services or the natural environment, to be environmentally cautious through a responsible trade off between production and use of assets. Some influences apparent are environmental, social, and economical and it is further important to emphasize that one or a combination of the aspects, with market cooperation, creates a sustainable agenda. Travel services are increasingly seen as less of a luxury good and more as an everyday purchase (Page, 2003:3) due to marketing becoming more prominent which means organisations must complete vigorous promotion strategies for long-term viability. Marketing therefore has a highly important role, as Holloway (2004) explains marketing understands the needs and wants of customers, ‘to what can be sold, to whom, when, where and in what quantities’ (Holloway J.C. 2004:7). Holloway (2004) writes that successful organisations anticipate demand “recognising it, stimulating it and finally satisfying it” (Holloway, J.C. 2004: 7). Marketing is absolutely crucial within creating and maintaining a sustainable agenda in a variety of ways, moreover reference to consistency among stages of development, unique benefits produced from varied strategies, relevancy of market research, adapting to changing market demand and the positive outcome of identifying new markets.

Bertrand Piccard quotes, “In the 21st century, the heroes will be the people who will improve the quality of life, fight poverty and introduce more sustainability. This is a powerful message, it sums up the concepts discussed throughout the course. Additionally, the case studies such as the New Belgium Brewery, SC Johnson and The Kimberly Clarke organization have been proven to practice this philosophy. As society progresses in its efforts to provide a more sustainable future, there is a fundamental foundation of principles that must be followed to ensure success. Sustainable business development takes into account the application of business operations as it relates to the three pillars of sustainability, which is a dynamic yet integrative place to begin this journey. DesJardins, (2006) calls for a re-imagination of the future to create a vibrant sustainable model; which forms similar beliefs to Piccard. In addition, organizations are more inclined to create sustainable practices based on consumer demand and the willingness of leadership to participate in sustainability programs.

Making tourism more sustainable is not just about controlling and managing the negative impacts of the industry. Tourism is in a very special position to benefit local communities, economically and socially, and to raise awareness and support for conservation of the environment.

Additionally, the study found that hotels with a non-financial reporting control system were more likely to adopt an environmental policy. In 1996, when this article was published, green policies were considered stratagems instead of bonafide, widespread business strategies for all hotels to take into consideration to participate in environmentally-responsible business practices. The author concludes that until environmental concerns become strategic issues added into the control system with rewards, the response will remain the same; green policies and practices will be considered stratagems.

Our company analysis focuses on the Kohl’s corporation, which tailors to customers needs in apparel, shoes and home décor. Kohl’s entertain the idea of their slogan by saying “expect great things”, they set high standards in the business world from an economical stand point as the maintain almost 20 billion dollars in revenue and from a sustainability stand point as they have achieved numerous goals since the 2000’s. Kohl’s is a great company with many department stores located throughout the United States and in Massachusetts. There is one less than a mile away from Merrimack College that has a huge collection of apparel, shoes and home décor.

There is no one best definition for sustainability. The simplest and most fundamental meaning would be “the ability to sustain” or otherwise “the capacity to endure”. It can also be defined as a need for our generation to manage the resources base efficiently so that the average quality of life that we ensure ourselves can potentially be shared by all future generations.

Communication of the high need of sustainability goals to all members of the company, Everyone needs to understand and be committed to ensuring that the same is met.

The core areas of the three pillars are the social science, economic and Environmental protection of sustainable development. These pillars form the backbone of the core areas that the world now faces. In short, social science is caring about the awareness of the health of people from pollution and other harmful activities of the all-round business industry. For example, if we relate this to the hospitality industry. How can we build a sustainable hotel, with sustainable material. Next to this, we have the economic development, this is about getting what we consume and giving people what they want without compromising the quality of life. At last, but also the most important core in the pillars is the environment protection. By recycling and reducing our use of electric power and water saving we protect the environment. The technological advantages can help the hospitality in this, but can also be a damage for in the

Moving ahead,in order to get the idea about company’s internal environment and its capacity to survive and prosper in the market(Strategic capability), I analysed the resources and competencies(Appendix 3) ,the value chain (Appendix 3),the Cultural Web(Appendix 5). To find out the influence of stakeholders on the company I applied Power/Interest to the company and finally analysis of strengths,weaknesses ,opportunities and threats to the company(SWOT Analysis-Appendix 7) provide with clear idea about the strategic position of M&S.

Many hospitality industries are doing their best to be sustainable and green. Even though there are many issues hospitality industries are facing. Sustainability includes not only environmental issues but also preservation of local cultures. The industries are still struggling to find measurements and benchmarks for “green” operations generally and energy conservation specifically. Food service operations also face sustainability issues, complicated by guest interest in healthy food and local sourcing. Hotel industry processes and their related resource consumption in hotel operations have some form of environmental impact (Singh, Houdre,

At last, the ecological element is also important when investigating the business environment and the CSR has gradually ended up coordinated in numerous associations' business goals. For a hotel industry to be socially, dependable it must finish numerous approaches, for example, submitting to the energy consumption laws, lessening carbon footprint, and connecting with the local community. Then again, the natural disaster has turned out to be incessant. Subsequently, numerous destination spots are intensely influenced and sustainable tourism must be practiced to save natural resources (Levonsky & Conley, 2004).

I choose sustainability in the lodging industry because with this being relevant in most of my major classes this semester. I wanted to do more research and become more knowledgeable on why sustainability is so important and the impact it has on this generation and generations to come. The three pillars of sustainability are the environmental, physical and social aspects that all affect one another, especially in terms of tourism and hospitality. The industry is only growing and if continues to expand while hurting the environment and using up resources that are scarce in one or more state or countries is questionable. These three articles are all relatable to the making hotels more green with research and steps taken before making short or long-term decisions within an organization that goes all the way down from developer to staff.

Last but not least, sustainability trends become more significant day by day. The application of sustainability is an important factor in the management of any business, because Lockyer (2007, p.185) believed that “there is a vital relationship between continual growth and available resources and the future which requires serious consideration”. In addition, although Capon (2008, p.31) considered the term “environment” refers to much more than the ecological, she could not deny that “being environmentally friendly and reducing the carbon footprint can be part of an organization’s strategy”. In fact, many “green” hotels succeed with their strategy of social responsibility and ecological health such as Starwood’s Element Hotels, which are simple and smart designed in order to get natural energies that bring their customers the healthy living environment.

Royal Caribbean Cruise, one of the first company in the United States to use Global Reporting Initiative(GRI) principles to report their sustainability initiatives (Fain, 2016). They regard protect and preserve the environments and communities in which we operate as a commitment (Fain, 2016). RCL uses state-of-the-art wastewater treatment systems to reduce wastewater for years. In order to help the destinations in that region developing sustainability, RCL form a Sustainable Destinations Alliance with NGO and governmental organizations. Besides, they also take employee’s entitlement into consideration.