Foundations of Business Communication

Introduction

The increasing interest of society and business towards sustainability have made corporations play a major role in sustainable development, including in areas such as business dissertation help. The sustainability development, however, has brought various challenges and the corporation needs to deal with such complexity. The organization should identify opportunities, risks and obligations to be successful in the environment, social and economic aspects (Laudal, 2010). There are number of approaches, tools and Instruments to support business practice to manage the corporate sustainability. Although, there are number of drivers linked with CSR activities, CSR drivers and even firms’ performance but there is lesser knowledge regarding how corporation should manage CSR performance links and manage drivers for the CSR (Jenkins, 2016). There is an even lesser publication which states regarding business cases and management on how to enhance, improve, implement and develop corporate sustainability strategies. Thus, this paper would provide insights to manage corporate sustainability and CSR wherein case study of Tesco company will be considered.

Tesco Company

Tesco is one of the biggest retailers of food sectors in the United Kingdom which was founded by Jack Cohen in 1947. Its employees 325,000 people and possess more than 2318 stores. It works in various banners in U.K which includes Express, Extra, Metro and Superstore and offer large number of items to 4,000 customers per day. The vision of Tesco is to attain lifetime customer loyalty and to create values for customers and apply sustainability in organization(Tesco, 2019).

Sustainable Development and Its Strategies in Business

The conventional business is aimed to produce economic value or generate profits for a specified period and the strategies used to create value to a certain narrow set of stakeholders which includes owners and shareholders. The development of the values apart from these actors were traditionally taken as illegitimate and they viewed that prevention of social and environment issues is the responsibilities of shareholders (O’Riordan & Fairbrass, 2008). The conventional business strategy possesses a narrow view upon profits which is associated with issues and challenges facing a society that includes poor working conditions, lower wages and environmental degradation (Aguinis & Glavas, 2012). This narrow strategy view is however changing, and business is making a strategy that integrates aims and objectives of sustainability. Such strategies not only aim to minimize the negative impact of social and environment but even assist the business to have a positive and regenerative influence on nature and society.

The sustainable development concept has attained higher recognition and is newer ideas for business executives. It is the adopting of the business strategies and activities which meets the enterprise and stakeholder’s need and even sustain, protect and enhance human and natural resources which would be needed in future (Valentine, 2010). Sustainable development emphasizes that economic development should meet business enterprise needs and its stakeholders, which include shareholders, customers, lenders. Employees, communities are influenced by the activities of the organization. Taking Tesco company into consideration, it can be stated that company apply sustainability strategies to attract public attention and maximize the profit margin of the company. It also showcases the dependence of business towards human and natural resources apart from financial and physical capital. Tesco even demonstrates that economic activities must not destroy the human and natural resources (Dahlsrud, 2008). Since, Tesco possess some responsibility towards the social and environmental issues which is prevailing in society, such as the destruction of habitats as well as the exploitation of the working environment. It is essential for the Tesco to apply those strategy which have profound impact on the consumption and production pattern. Tesco have reach global height and enhanced political and economic power due to implementation of sustainability strategy(Tesco, 2016). The business role regarding sustainable development is usually noted as a responsibility to society whereby the responsibility is explained as the need to eradicate negative effects of business which is called as defensive approach (Hannon & Callaghan, 2011). Sustainable development is the source of value creation for the company and society.

Dimensions of sustainability strategy

The sustainability strategy possesses three main dimensions, which include economic dimension, ecological dimensions and social dimension. The economic dimension possesses those activities which are need for business to stay functioning in market (O’Riordan & Fairbrass, 2008). There are various factors like innovation, knowledge management and collaboration which are critical functions of business for economic development and increase the values of products and services. The absence of economic elements would lead the business to remain bankrupt. On the other hand, Ecological dimensions of sustainable strategy possess environmental activities that assist in the prevention of environment influence which includes recycling, waste management and biodiversity (Dahlsrud, 2008). This dimension helps in building relationship in between business and natural environment. These aspects can assist the sustainable strategies to lead to sustainable growth of economy. The present growth is linked with unsustainable consumption and production and even integrate sustainable strategies that assist in ensuring growth decoupled through consumption and exploitation of the materials. There is even social dimension that prevails in a sustainable strategy that possesses internal and external dimensions.

The internal dimensions possess aspects like employee health and safety and corporate governance which improve productivity, ensure ethical consideration of the internal policies and even increase the business attractiveness (Hannon & Callaghan, 2011). These aspects are essential for the targets who are concerned regarding the safe and fair paid lifestyle. On the other hand, the social dimension externally focusses on how the business makes links with external stakeholders and even express its wider ethical behaviors in the community. The sustainability strategy could be applied to a wider strategy of a business in either greater or wider extends. In the initial phase, sustainability strategies were changed minorly in the management system (Aguinis & Glavas, 2012). However, sustainability strategies have become more matured as drivers increased. Those sustainability strategies are more effective which are integrated fully in overall firms’ strategy and possess adjustments to organizational logic.

Corporate Social Responsibilities (CSR)

Corporate social responsibility is an obligation of the organization to consider the customers, employees, shareholders, ecology and communities and even takes into consideration social as well as environmental results of the activities of the business (McWilliams & Siegel, 2011

). The integration of the corporate social responsibilities in the business process and management of stakeholders assists the organization in attaining goals to create corporate values and social values. The increased concern of the public over the environment and easy flow of data and information and its affordability through the internet have increased the value of corporate social responsibility. The importance of CSR is also enhanced due to increased usage of the internet and even access to trade information (Hannon & Callaghan, 2011). Taking Tesco company into consideration, it could be stated that company create wealth in effective manner and even serve for the society in useful and fair manner. It even ensures continuity of the company and attain reasonable growth. Tesco company is seen respecting environment and even avoid pollution and search ways to minimize waste. The stakeholders have a full eye on the company’s action and taking a strategic approach have helped the company to acknowledge the activities which possess resources to be socially responsible and even enhance the competitive advantages(Tesco, 2016).

CSR is generally linked as an approach to integrating environmental and social aspects in corporate actions. There are several CSR positions which includes Corporate philanthropy which integrate stakeholders’ perspectives and broadly defined CSR with environmental aspects (Laudal, 2010). It has been acknowledged that Tesco possess three interpretations of the development of sustainable in the management of science which consists of normative, innovation-based and even rational interpretations. The innovation linked interpretation of sustainable development is linked with eco-efficiency concepts(Tesco, 2019). The economy and ecology of Tesco are combined as a win-win concept wherein ecological innovations are carried to attain simultaneous financial advantages. The ecological innovations however take place in simultaneous economic advantage in Tesco (Aguinis & Glavas, 2012). The main aim of the research is to minimize the cost because of increased resource efficiency and even minimized wastage reduction.

Framework for Corporate Sustainability and CSR

Corporate sustainability management needs to give attention to stakeholders and innovation requirements and even on business process effectiveness. The integration of sustainability issues is the strategic tasks. The main foundations of the activities of sustainability and strategy in the culture of organization is needed for success. A framework for corporate sustainability and CSR needs to be developed, which possess various management levels (Jenkins, 2016). the normative level possesses objectives to ensure and even enhance the legitimacy of the activities of the corporate through society and stakeholders. The strategic management, on the other hand, possesses objectives for effectiveness and determines long term goals while the operational management level possesses the motive to implement normative and strategic through corporate activities. The framework is assisted by instruments to identify, implementation and controlling the sustainability aspects (Dahlsrud, 2008). The framework joins with three main organizational basic variables which include formal management instruments, organizational culture and organizational structures which provide an integrated review of corporate sustainability management.

Theories of Management

Contingency Theory

Contingency theory makes the assurance that during the time of making of decisions by the managers, there is need to include all aspects of present situations and only act on aspects which are essential to the situations. This approach is one which indicates that the manager must take into consideration all aspects.

Systems Theory

System theory possesses a significant impact on management science and even on acknowledging organization. System is known as group of parts which are united to accomplish the organizational goal. The nature of the system is changed if any of the systems are changed. The influence of systems theory in management is that educators, consultants and writers are assisting managers in looking at organizations through broader perspectives. This theory has changed the perspectives of the managers to change events and patterns in the workplace. This theory recognizes various parts of the organization, which includes engineering with manufacturing, coordination of administration with programs and even controlling with workers (McWilliams & Siegel, 2011). The system theory is a development in the field of thinking regarding management.

Chaos Theory

Since, past decades, managers have always acted that organizational events could always be controlled. However, A new theory named chaos theory has recognized that events are controlled rarely, and many chaos theories stated biological systems while explaining the theory. The suggestion given that systems become complex and volatile and needs to expend larger energy to maintain such complexity. Moreover, when they expend larger energy than it looks for more structures to maintain stability. Such trends continue tile there is a split of the system and combine with other complex systems.

Impact of CSR in Micro, SME, and Corporate Business

Corporate social responsibility is the accountability which business possess for the people and society which is affected by it. This even possesses social, environmental and economic impacts wherein CSR initiatives enhance the society. CSR is found to have a different impact on different business types of business firms wherein CSR is found affecting the economic performance of the business as stakeholders and customers are highly concerned regarding the environmental and social aspects. The CSR approach assists the Microbusiness to manufacture products through renewable resources and improve the social consciousness of the industry using actions. The micro-business can attain higher sales and margins and can even increase the morale of employees. The micro-level business can even enhance its image in the public domain and increase financial performance.

The CSR also possess effective results on the SMEs as it improves the work climate and even enhances competitive differentiation. Various external drivers in CSR permit firms to be effectively placed in a competitive market. SMEs are also found attaining positive interest and gain from the stakeholders towards the company's interest in society. This approach even assists the companies to become more involved in employees with quality management and environmental policies. CSR even attract those customers who are highly interested and aware of the CSR (Nakao & et al., 2007). The CSR even motivates and attracts a larger number of employees towards the SMEs and even increases the productivity level.

SMEs even influence the corporate business wherein the application of CSR prevents the company from fines and financial ramifications. There is a lesser chance of the company to come over the screen of the regulators and lower the legal expenses. CSR also increases the loyalty of the employees as treatment is done in a fair manner which is part of corporate social responsibility (Matten & Crane, 2015). It even gives good jobs and even encourages higher moral and social standards which enhance the loyalty of employees. The corporate business even procures those activities wherein workers are treated ethically and even gain support through fair trade actions. It even demonstrates consciousness in number of areas which can enhance publicity and provide business tangible proof of conducts which could proudly be displayed in websites of company. The corporate organization is found showing concern towards environmental, social and local areas which attracts a larger number of stakeholders towards the company (Lankoski, 2007). It can be stated that CSR and its approaches at Micro, SME and corporate business are similar and even share similar effects in the business firms.

Planning a Corporate Sustainability Strategy

Strategic planning is a classic method of forecasting which results from external developments and wherein the strength and weakness of the company are assessed and anticipation of future development. The back casting is the idea of defining the future state and planning strategies to attain desired actions.

Through the ethical viewpoint, it is argued that the Tesco company must be sustainable but, companies even need to be successful in terms of economy. It is highly important to clear the requirement, pressure and needs of the customers by the company through sustainable development. Tesco company should even make solid sustainable plan which would act as tool for business to generate baselines, track and apply cost control initiatives (Tesco, 2019). Company can even make solid SPM administration to attain performance sustainable initiatives and even ensure higher sustainability. It is a basis to reveal opportunities and threats to become a sustainable company. It is highly essential for the company to analyses contextual factors and the significance of sustainable development (Nakao & et al., 2007). The recognition of external demands and requirement as well as impacts which are caused by corporation assist in recognizing opportunities and threats linked to sustainability. Such contextual factors could be grouped in business environment factors, stakeholders’ factors and sector-specific factors of the Tesco Company. The economic, societal, technological, political and legal as well as ecological factors are found belonging to environmental factors of business whereas sector-specific factors are linked with porter’s 5 force models (Matten & Crane, 2015).

Conclusion

Corporate social responsibility is the responsibility of businesses of all sizes to apply it as it not only provides economic benefits but even enhances social and environmental benefits. CSR assist the business to grow and make the employees happy. It even aims to enhance the long-term profits for the business by enabling the business to become more efficient and even attract larger attentions from the customers. It is stated that corporate organization should apply CSR in their activities. The integration of back casting acts as planning principles for the sustainability strategies wherein such features assist in sustainability management and corporate sustainability strategies as it creates stronger links between corporate management and tangible, sustainable management. It is even analyzed that although there are various challenges in applying CSR, its implementation could assist all micro, SMEs, and Corporate business in attaining success. It enhances profitability, increases customer satisfaction and even increases the employee’s involvement and performance towards the organizational work. It can thus stay that the application of sustainable approaches to business management including strategic planning and CSR, would assist the company in attain competitive advantage and even attain success.

References

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Tesco, 2019. Tesco PLC. [Online] Available at: https://accid.org/wp-content/uploads/2019/04/Case-Tesco-PLCformatv.pdf[Accessed on December 28, 2019]

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