1. Explain how Sustainable Strategies are Deemed Competitive Advantage.
The company will deem competitive Advantage in defining stakeholder
expectations, since, in order to provide long-term value to shareholders, businesses
must comprehend and address the requirements of all the communities they serve.
Companies may integrate sustainability as a strategy to deliver considerable
environmental, social, and financial benefits for all by unifying the board, management,
employees, partners, and suppliers in a common aim and aspiration. A sustainability
strategy needs common objectives, but it also needs shared responsibility. The owners
are not the only ones who will make the business work so in order to gain a competitive
advantage they need to know the goals of the stakeholders. In addition, by adding value
through technological innovation, the sustainable advantage will also be deemed a
competitive advantage. When innovation completely transforms an ecosystem, the
organization can experience exponential development that is supported by data
analytics and future-proofed by a dedication to continuous improvement cycles that
advance the company along its sustainable transformation strategic plan. Having a
competitive advantage over your competitors is essential for business success because
it can lead to higher profit margins, promote attracting more customers more frequently,
and improve the consistency and predictability of your company's revenue sources.
2. Give at least three (3) Sustainability trends emerging and discuss each.
, Circular Economies: Building momentum on the use of plastics
One of the major issues regarding sustainability is the use of plastics across
almost every business sector, including packaging, building, construction, textiles,
consumer products, transportation, electrical, electronics, and industrial machinery.
Companies kept using plastics in their products as it assures that their product is
maintained in a good condition, including fragile ones. In addition, manufacturing
plastics is absolutely energy-efficient to manufacture as compared to metals which
consume more energy resources in order to produce. Such material is easy to generate
but won’t compromise the quality. More so, despite being durable, plastics are
lightweight making them suitable for packaging needs. However, too much production,
distribution, and usage of plastics in any commercial activities are not good as they are
alarming and can cause distress to the environment and to other living things. First,
there’s the issue of pollution. Plastic is a prime contributor to each land and water
pollution. When it’s not properly disposed of, it can end up in our oceans and rivers,
causing harm to our marine life. It can also end up in landfills where it takes centuries to
decompose. Second, there’s the issue of deforestation. Plastic is made out of petroleum
and other harmful chemicals, which means its production contributes to deforestation.
Third, there’s the issue of climate change and the use and production of plastics are
one of its contributors due to the greenhouse gasses they emitted. Fourth and most
importantly there’s the issue of human health. Plastics contain harmful chemicals that
leach into food and water once it’s not properly disposed of. Thus, through circular
economies and building momentum on the use of plastics, it can reduce the need for
new plastics production and keep plastics for reuse as long as possible without
The company will deem competitive Advantage in defining stakeholder
expectations, since, in order to provide long-term value to shareholders, businesses
must comprehend and address the requirements of all the communities they serve.
Companies may integrate sustainability as a strategy to deliver considerable
environmental, social, and financial benefits for all by unifying the board, management,
employees, partners, and suppliers in a common aim and aspiration. A sustainability
strategy needs common objectives, but it also needs shared responsibility. The owners
are not the only ones who will make the business work so in order to gain a competitive
advantage they need to know the goals of the stakeholders. In addition, by adding value
through technological innovation, the sustainable advantage will also be deemed a
competitive advantage. When innovation completely transforms an ecosystem, the
organization can experience exponential development that is supported by data
analytics and future-proofed by a dedication to continuous improvement cycles that
advance the company along its sustainable transformation strategic plan. Having a
competitive advantage over your competitors is essential for business success because
it can lead to higher profit margins, promote attracting more customers more frequently,
and improve the consistency and predictability of your company's revenue sources.
2. Give at least three (3) Sustainability trends emerging and discuss each.
, Circular Economies: Building momentum on the use of plastics
One of the major issues regarding sustainability is the use of plastics across
almost every business sector, including packaging, building, construction, textiles,
consumer products, transportation, electrical, electronics, and industrial machinery.
Companies kept using plastics in their products as it assures that their product is
maintained in a good condition, including fragile ones. In addition, manufacturing
plastics is absolutely energy-efficient to manufacture as compared to metals which
consume more energy resources in order to produce. Such material is easy to generate
but won’t compromise the quality. More so, despite being durable, plastics are
lightweight making them suitable for packaging needs. However, too much production,
distribution, and usage of plastics in any commercial activities are not good as they are
alarming and can cause distress to the environment and to other living things. First,
there’s the issue of pollution. Plastic is a prime contributor to each land and water
pollution. When it’s not properly disposed of, it can end up in our oceans and rivers,
causing harm to our marine life. It can also end up in landfills where it takes centuries to
decompose. Second, there’s the issue of deforestation. Plastic is made out of petroleum
and other harmful chemicals, which means its production contributes to deforestation.
Third, there’s the issue of climate change and the use and production of plastics are
one of its contributors due to the greenhouse gasses they emitted. Fourth and most
importantly there’s the issue of human health. Plastics contain harmful chemicals that
leach into food and water once it’s not properly disposed of. Thus, through circular
economies and building momentum on the use of plastics, it can reduce the need for
new plastics production and keep plastics for reuse as long as possible without
