Strategic Business Sustainability
Select a company, a large multinational or transnational company would be best Critically evaluate its current sustainability strategies and process (operations) using your learning from the module, including theories, concepts, frameworks and models you have learned in the module. In particular provide a brief explanation of the Gaia theory in relation to sustainability and how it features within the debates.Consider the companys diverse stakeholders; select approx.. 3 key ones, their needs and how to obtain buy in from these; these may include shareholders, customers, board, employees, community and/or othersDevelop strategies/recommendations the company could implement to improve its sustainability.
Company: Nestlé
Sustainability Strategies and Critique
Nestlé, a global food and beverage giant, has made strides in sustainability efforts but faces ongoing challenges. Here's a critical evaluation:
Strengths:
- Focus on Water Stewardship: Investing in water conservation projects and improving water efficiency in operations.
- Sustainable Agriculture Initiatives: Promoting sustainable farming practices and reducing environmental impact in the supply chain.
- Climate Change Action: Setting goals for greenhouse gas reduction and exploring renewable energy sources.
- Plastic Waste: Nestlé is a major contributor to plastic pollution. While they've pledged to reduce virgin plastic use, progress is slow.
- Labor Practices: Concerns about labor conditions in the cocoa supply chain, including child labor.
- Marketing Practices: Criticism of marketing practices that target unhealthy food choices, particularly to children.
- Shareholders: Demonstrate the long-term financial benefits of sustainability, such as cost savings from resource efficiency and improved brand reputation.
- Customers: Offer eco-friendly product lines, transparent labeling, and highlight their sustainability efforts to attract environmentally conscious consumers.
- Employees: Create a culture of sustainability through employee training, engagement in eco-initiatives, and linking sustainability performance to bonuses.
- Accelerate Plastic Reduction: Invest in innovative packaging solutions, explore refillable or reusable options, and set ambitious goals for plastic waste reduction.
- Ethical Sourcing: Implement robust social responsibility programs in the supply chain, ensuring fair labor practices and addressing child labor concerns.
- Transparency and Accountability: Publish detailed sustainability reports, address stakeholder concerns openly, and hold themselves accountable for their environmental and social impact.
- Sustainable Food Systems: Support regenerative agriculture practices, invest in plant-based alternatives, and promote healthy and sustainable food choices.