Sustainability In Nascar

When talking about sustainability numerous people associate it with just protecting the environment. Sustainability is far more than going green, but it is a principle that many companies have adopted and have worked persistently to improve over the last several years. Sustainability is defined as the ability to continue a behavior indeterminately, but it also includes improving human life overall. Sustainable development is broken down into three pillars: economic, social, and environmental (Harich & Bangerter, 2014). Economics is the study of how people use resources, which correlates to the goal of sustainable development by using resources to their full potential (Laszlo, C., & Zhexembayeva, N., 2011, p. 60). Economic sustainable development allows companies to give their customers what they want without overusing mutual resources. Social development combines the social world with the physical realm to provide a good quality of life (Benoit, 2010, p. 7). Social sustainability focuses on the well-being of people and their communities. Environmental development, the most recognizable, includes protecting the environment by reducing pollution, recycling, switching of electronic devices when not in use, etc. All three of these pillars make up what is known as sustainable development. In this paper, I researched a company and their involvement in sustainability and how it applies to the

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.

Business sustainability, which originally was viewed as a question of corporate governance, has now emerged as a central, multifaceted theme of the twenty- first century. It is now the responsibility of corporate boards and managers to focus on business sustainability by creating enduring value for shareholders and managing the interests of other stakeholders, including creditors, employers, suppliers, government, and society at large.

Sports provide a form of entertainment to people whether it may be watching NFL football on Sunday to NASCAR racing. Both sports have a high risk of injury. Nevertheless, awareness of safety is not a big ordeal until someone gets seriously injured or killed from the sport. Business sustainability depends on several factors. NASCAR should become more committed toward sustainability initiatives. One area of concern is the safety of the sport. The average speed of a NASCAR driver is 130 mph with little protection to protect the driver (Optometry Times, 2013). Frequently people only think of adrenaline the sport provides to them thus not focusing on the long-term consequences of the sport or the outcome of the injured victim. For NASCAR

The idea of sustainability has become an increasingly common term in the rhetoric surrounding business ethics, as corporates are gaining broader acknowledgement of this pro-active method which guarantees business long-term viability and integrity by focusing on the triple bottom line. In business, the three aspects of sustainability include social, economic and environment.

By NASCAR implementing environmental practices and a better impact of sustainability, they will be able to conceptualize and use this to their advantage such as gaining more environmental enthused fans that care about the environment. This will also further promote steps to enhance environmental friendly behaviors. NASCAR will then be able to use less gasoline and different brands in which they could form partnerships with. When they decide to go green and enhance more opportunity and positivity towards preservation then more companies are likely to work with them and support their efforts. So, by taking the route of environmental friendly they are able to gain many lucrative sponsorships, partnerships, and more loyalty.

Because NASCAR’s branding strategy in the early years was so successful, it has created a very loyal fan base which has risen to an astronomical – 75 million fans. What has impacted NASCAR during the economic downturn was the fact that they were heavily relying on major automobile companies, such as, Ford Motor Company, General Motors, and Chrysler; therefore, when the auto industry was affected by the recession, it had an impact on NASCAR’s sponsorship funding. For NASCAR to insulate itself from further economic issues, the industry will need to remain faithful to their roots. This is a spectator sport, not a sponsorship sport. This motorsport must maintain a fan-base by ensuring there are opportunities in which they can afford to participate. The branding and co-branding of NASCAR have proven to be a bit commercialized; therefore, placing drivers at risk for losing business endorsements if they do not win. I do believe it has placed undue hardship for the driver. As with any other sport, such as Football, Baseball, and Basketball, it has become more about the

The branding strategy of NASCAR is generally complex, with efforts made in numerous directions. One important direction in this sense is represented by the efforts made by the company in order to link its image and reputation with other reputable firms. In this setting, NASCAR tried to unite forces with top economic agents, in a co-branding effort. This measure allowed the capitalization of the marketing efforts in the meaning that the companies joined forces and the result was that of a combined success.

The greatest challenge faced by many organizations today and especially the labour intensive industries is ensuring there is a sustainable

Sustainability has become a great topic of interest in many arenas. Particularly, leading organizations are recognizing sustainability needs to be an essential aspect of their long term strategies. With this recognition, better business practices are being sought by investors as well as sustainability is becoming a driving force for better efficiencies and innovation. Two organizations, Wal-Mart and Starbucks, have both took on sustainability as long term initiatives to address their customer needs and affect how their suppliers operate.

Sustainability reporting has become increasingly prevalent in organizations of all types and sizes. A company or organization’s sustainability report is a published report that details the economic, environmental and social impacts that are a direct result of their daily activities. These reports also depict the organization’s

Sustainability is not just a concept of being environment friendly but it is a contemporary of corporate social responsibility .The current world financial situation has put the limitations on sustainability

Sustainability is a major driving force in most businesses today, and the rise of sustainability in the market has brought major economic and financial impact on businesses today. Sustainability as defined by the United Nations is the process of meeting present needs without compromising the ability of future generations to meet their needs. (McKee 2012, page 561). Companies which are considered environmentally unfriendly face a lot of threats when it comes to finance. Therefore oil and gas companies that produce environmental unfriendly bi products face critical supervision from both policy makers and consumers.

It is argued that powerhouse businesses are largely responsible for causing detrimental impacts on the environment through their practices (Hormann 1990). As a result it is suggested that businesses are to take action to remedy such situations. It is possible in many ways, however the most relevant involves development of sustainable practices through new framework of business operations (Smith and Rayment 2010). Business leaders can implement practices that encourage sustainability; this will remedy the current situation and avoid it in the future.

For this Capstone Project, a foreign company (Toyota Motor Corporation) was chosen that trades on the New York Stock Exchange. This paper will outline how Toyota has become one of the world’s leading brands through the fruitful use of its global strategies. As a result, the main focus of this project will be on Toyota 's global sustainability.