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Marketing Management 1st Edition by Greg Marshall,Mark Johnston
Edition 1ISBN: 978-0073529790Marketing Management 1st Edition by Greg Marshall,Mark Johnston
Edition 1ISBN: 978-0073529790 Exercise 2
Consumers: Would you choose a Nike shoe that provided less comfort but was more environmentally friendly Would you pay a premium for an environmentally friendly Nike shoe
Explanation
Verified
Verified
The global business scenario has changed over the last few decades. Firms are moving away from a traditional business approach and are focusing on using sustainable energy forms and emerging technologies. One key driver of these changes is the realization and acceptance of change in the higher levels of management. Sustainable business models enable firms to survive longer in the dynamic industry and ensure they are constantly in sync with compliance guidelines.
By choosing to follow a sustainable business model, firms ensure all the stakeholders associated with them are indirectly supporting an environmentally friendly business model. Firms that follow such practices have shown the ability to keep the same level of outcome and effectiveness for a longer period. The key stakeholders that benefit from such models are senior leaders of the firm, employees, partners, and the community. By following a sustainable model, leaders devise a path that can be set into the process and it can be easily replicated across other business units. Firms that enable such practices have shown better preparedness in case of unforeseen challenges and can mitigate the issues faster. Leaders benefit greatly in such circumstances since business functions without any challenge. They have identified critical areas such as tackling water shortage, food misuse, recycling and eradicating poverty to be the pivotal areas that will help in long term sustainability.
The other stakeholders that benefit from sustainable business are employees, vendors and partners and the community. Sustainable business models encourage using environmentally friendly systems and processes and ensure they play a proactive role in making the global community a better place. Employees and vendors that form a part of the supply chain also contribute through their efforts in maintaining a sustainable business. But the highest benefactor of such business models is the community. They get support from each firm in their fight towards necessities. Firms have taken sustainability as their prime focus. Recycling, reducing pollution, using renewable sources of energy has proved to be game-changers for the community and environment. These success stories urge more firms to focus their resources towards building a sustainable firm that will last longer rather than focusing more on their competitive edge.
By maintaining a sustainable business model, firms leave a lasting mark on the environment and the global community. They directly or indirectly contribute to providing a better life to the less privileged in the community.
By choosing to follow a sustainable business model, firms ensure all the stakeholders associated with them are indirectly supporting an environmentally friendly business model. Firms that follow such practices have shown the ability to keep the same level of outcome and effectiveness for a longer period. The key stakeholders that benefit from such models are senior leaders of the firm, employees, partners, and the community. By following a sustainable model, leaders devise a path that can be set into the process and it can be easily replicated across other business units. Firms that enable such practices have shown better preparedness in case of unforeseen challenges and can mitigate the issues faster. Leaders benefit greatly in such circumstances since business functions without any challenge. They have identified critical areas such as tackling water shortage, food misuse, recycling and eradicating poverty to be the pivotal areas that will help in long term sustainability.
The other stakeholders that benefit from sustainable business are employees, vendors and partners and the community. Sustainable business models encourage using environmentally friendly systems and processes and ensure they play a proactive role in making the global community a better place. Employees and vendors that form a part of the supply chain also contribute through their efforts in maintaining a sustainable business. But the highest benefactor of such business models is the community. They get support from each firm in their fight towards necessities. Firms have taken sustainability as their prime focus. Recycling, reducing pollution, using renewable sources of energy has proved to be game-changers for the community and environment. These success stories urge more firms to focus their resources towards building a sustainable firm that will last longer rather than focusing more on their competitive edge.
By maintaining a sustainable business model, firms leave a lasting mark on the environment and the global community. They directly or indirectly contribute to providing a better life to the less privileged in the community.
Marketing Management 1st Edition by Greg Marshall,Mark Johnston
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