BUSI 601 Individual Learning Project 2: Sustainability. Liberty University. Sustainability Rationale
The choices made by organizations not only affects
... [Show More] the organization internally but
externally as well. New techniques and ideas to improve competition is steadily increasing,
which is why more businesses realize that sustainability is more than just an environmental
gesture, but also makes long-term economic sense (Spector, 2012). Firms often utilize the
sustainability technique when needing to save on cost, attract customers, retain employees, and
improve its image. This contemporary management technique can benefit companies of all
industries due to the fact that every business should have short and long-term goals in social,
environment, and economic dimensions of performance.
PepsiCo, Coca-Cola, and Starbucks are few of many companies that drive sustainability
into its products and services. During PepsiCo’s annual shareholder meetings, the food and
beverage company displays its sustainability strategy and goals as well as identifying and
disclosing climate change, water scarcity and public health issues as the heart of sustainability
challenges in its annual financial filings (Confino, 2014). Due to Coca-Cola utilizing the
sustainability technique, the business was able to improve its water use efficiency by 20% and
determined it needed a third-party to evaluate its water management approach (Confino, 2014).
Howard Schultz, CEO of Starbuck’s, described the coffee company’s goals to engage with
suppliers and local communities of its operation of business during Starbuck’s 2013 shareholding
meeting. He also described the efforts to accelerate investments in sustainable farming in order to
reach the company’s goal of ethically sourcing 100% of its coffee beans by 2015 (Confino,
2014). Sustainability not only creates a notable competitive advantage and increases profit for
organizations with an enriched mindset and culture of setting and achieving the right goals for
ILP 2 Sustainability 2
the environment and society, but allows firms to examine and address major impacts their
businesses have on the environment and community. [Show Less]