Sustainability in Australian Business Principles and...

The Relevance of Sustainability in Marketing Decision Making Introduction Sustainable marketing calls for socially and environmentally responsible actions that meet the present needs of consumers and businesses while preserving and enhancing the ability of future generations to meet their needs (Kotler amp; Armstrong 2012, p. 582). The aim of sustainable marketing is to satisfy the customer’s the needs and wants while also putting high emphasis on the environment and the social issues and thus creating profits in a socially responible way. Mention triple bottom line While traditional marketing is a process by which companies create value for customers and build strong customer relationships in order to capture value from customers†¦show more content†¦Walmart constantly initiates sustainability initiatives which postively affects the customer’s environmental behaviors, employees and its suppliers. It also promotes sustainablity to its employees by initiating ‘personal sustainability project’ (PSP) where employees are com mitted to responsible acts in front of their coworkers like from quitting smoking to replacing their lighting system at their house with energy saving bulbs. Because Walmart operates under very stringent environmentally focused practices they also enforce many laws to its suppliers to examine the carbon life cycle of their products and change the way they manufacture, package and transport the goods. This strategy saves Walmort extra costs which in turn reduce costs on the poducts they sell and which adversely can save customers money. This creates a win-win scenario for both Walmart and itsShow MoreRelatedThe Topic Of Sustainable Business Practices966 Words   |  4 Pagessustainable business practices. Firstly this report will define what is meant by the term sustainability and its dimensions. Secondly examples will be provided to illustrate the ways in which ExxonMobil is operating in an ethical and sustainable manner. Thirdly this report will critically look at the area of envi ronmental responsibilities to an organizations and what ExxonMobil is doing in that aspect. Finally this report will observe the importance for organization to be sustainable. Sustainability accordingRead MoreThe Sustainability Of The Telstra Network1616 Words   |  7 Pagesmillion fixed voice services and three million retail fixed broadband services around the country. The company comprise with the Australia largest stakeholders with 1.4 million. The research projects will discuss and analyse the sustainability of the Telstra network business in the environment through the review of academic works, corporate websites and annual reports. It also focuses on different trends which are applied by Telstra to bring drastic change in the eco-friendly atmosphere. To start,Read MoreIntegrated Reporting And Non Financial Information1749 Words   |  7 Pagesfinancial and sustainability report into a single document. (Sokya, 2013) Integrated reporting may be used as a management device; the success of the current business model and corporate decision-making processes in dealing with economic, social and environmental difficulties that arise during business can be summed up in an integrated report. An integrated report creates value for shareholders and the wider stakeholders in society by balancing the imperative for long-term sustainability with short-termRead MoreThe Mining Boom And Western Australia s Changing Landscape : Towards Sustainability Or Business As Usual?951 Words   |  4 PagesA., Mayes, R., Pforr, C. (2013). The mining boom and Western Australia’s changing landscape: Towards sustainability or business as usual?. Rural Society, 22(2), 111-124. doi: 10.5172/rsj.2013.22.2.111 This publication processes the challenges of the Western Australian Mining Industry. The journal will focus on the economical benefits of the mining boom that occurred in the Western Australian mines, as well as, the effect it has on society and environmental challenges. The text continues to exploreRead MoreEthics And The Ethical Dilemma1252 Words   |  6 Pages Ethical dilemma occurs in every business field and in every area of work. Now speaking about the ethics in an engineering perspective we generally refers to code of ethics 2010 that was written for Engineers in Australia. But these are basically applied to all employees in engineering field. The four principles to be followed according to code of Ethics 2010 are 1. Demonstrate Integrity. 2. Practice Competently. 3. Exercise Leadership. 4. Promote Sustainability. Now let us see each of themRead MoreAdvantages And Disadvantages Of Csr918 Words   |  4 PagesINTRODUCTION Corporate Social Responsibility (CSR) practices are the self-regulatory and long term practices of almost every organization in terms of Social, Economic and Environmental sustainability as compliance with ethical norms and legal requirement (McWilliams, 2000). CSR has practiced in almost every business as the growing concerns of broader stakeholders involving corporation business such as community, investors, employees, suppliers, etc. instead of only companies’ shareholders as in theRead MoreCorporate Social Responsibility And Its Legal Requirements1366 Words   |  6 Pagessocial environment, issues related to social responsibility and sustainability are gaining more and more importance, especially in the business sector (Webfinance. 2014). Business goals are inseparable from the societies and environments within which they operate. Whilst short-term economic gain can be pursued (Catalyst Consortium. 2002), the failure to account for longer-term social and environmental im pacts makes those business practices unsustainable. In our current society, the Global Compact asksRead MoreA General Description Of The Westpac Banking Corporation1568 Words   |  7 Pagesoil among many others. b. The external forces that impact on the organization. External factors that Westpac have no control over include - The environment- Westpac was one of the many organizations which signed the Equator Principles. The main aim of the Equator Principle is to handle social and environmental risk in financing certain projects and also dealing with climate change. - Customers- With the aim of helping their customers and the community to ensure long-term growth The legislationRead MoreMarketing sustainability1333 Words   |  6 Pagesrelevance of sustainability in marketing decision making What is marketing? What exactly is marketing? Is it just convincing people to buy products through various media? Billboards, TV commercials, junk mail and magazines filled with advertisements? From the consumer’s perspective, that is how it seems (Kotler et al. 2010, p. 5). But from a business’s standpoint, marketing is viewed very differently. Marketing is viewed as being based on an exchange relationship between a business and its customersRead MoreWesfarmers : Financial Analysis Essay1488 Words   |  6 Pagesgroup with strong financial focus (Australian Securities Exchange,2008). The ongoing success of Wesfarmers is based on shareholder focus, financial disciplines and goodwill and hence it has achieved significant financial growth in the preceding 6 years. It is a â€Å" diversified Australian group, provides home improvement products, building supplies, coal mining, gas, industrial and safety products, food, groceries, apparel, office products and insurance (Business Review, 2008). Wesfarmers key