BSBSUS501 Sustainability Policy of Retail Company
This report illustrates the sustainability report for the ABC retail company. The company is one of the best organizations in the retail industry in Australia. It sells more than 200 types of products within the country. This retail company takes some measurable policies for its sustainable production. In this report, thus the scope of the report has been defined in details. This report also mentions the stakeholders on behalf of the company. This sustainability report supports that the company follows all the environmentally friendly policies to maintain its growth and productivity of the company.
2. The scope of the sustainability policy for ABC Company:
ABC Company is the best retailer in Australia. The main scope of the sustainability policy of this company is as follows:
To enhance the value chain:
The Company want to enhance the supply value chain so that it will be benefitted to our customers. The value chain is considered as the systematic approach for examining the enhancement of the competitive advantage. This chain has consisted of a series of several activities, which creates and builds the value (Adhikari et al, 2019). In addition to this to enhance the sustainability of our retail operation, The Company work in the help of addressing the environmental and social problems with the product supply.
To create the shared value for the business and society:
For the creation of the value for the stakeholders among the company and the society, The Company prefer the shared value, which enhances the quality as well as the viability for the solutions (Agnew, 2019). In the organization, the Company believes in the social and environmental programs for the long-term stakeholders. As our stakeholders want to strengthen the whole system, The Company believe and give importance to the retailer.
To lead through the company:
The Company want to work for integrating the social along with as the environmental priorities within the routine business activities, like merchandising, logistics, sourcing, technology, store operations, and human resources (Doni et al., 2019). The Company also look into leadership practices, operational processes, and tools.
To focus on the actions which will draw the particular strengths of ABC Company:
The Company always focus on the actions made for the particular strengths as the retailer. This strength includes 1.5 million associates within the world and supplier relationships (Garcia-Torres et al, 2019). It will purchase the categories together with the apparel including the capabilities of logistics, merchandising and operations.
3. Plan and development of the policy
3.1 Developing and sharing best practices:
The Company relies on the development of the workforce, which would happen faster for any organizations and respected employers. The workforce is the primary factor for the company. ABC retail also tries to create new opportunities so that there is a group of over 50 employers as committed for the development and spreading of the hiring practices (Frigelg et al., 2019). It will lead to better results on behalf of the youth who are already passed out and looking to join an organization.
The company thus follows the best practices to retain their skilled employees so that there would not be any hamper of its productivity. The Company always prefer to provide training to those employees who want to upgrade their skills. After every training, there is an evaluation test, which measures the performance of the employees within the company.
3.2 Value Networks in sustainability
ABC builds the value-added networks mainly for nonprofits, employers and suppliers and government agencies. They use the green supply chain for the use of the network approach so that it will lower the margins.
ABC Company associates with the role of internal and external stakeholders to increase the standard of work within the company. The concept of the corporate social responsibility is thus depending on the ethical responsibility, legal responsibility as well as corporate social responsibility. This idea will emphasize on the fact that the management of the organization will take responsibility on account of all the expectations of the internal along with the external stakeholders. As per the statistical analysis of the survey activities, it has been revealed that all our respondents would group within the 15 sustainability activities in the five distinct and important categories.
The company also follows the guidelines specifically based on corporate sustainability and the activities within the sustainable dimensions. The guidelines indicate all the possible index on the experience for ensuring accurate information. In this guideline, all the 15 sustainability activities are mentioned and it has been followed to enhance the growth of the company.
The following stakeholder groups are identified in ABC Retail Company:
Employees: Employees are stakeholders who possess both power and legitimacy. They are the dominant type and within the legitimate stakeholder group in ABC company. The organization seeks feedback from employees on their working conditions for enhancing the product quality and customer service. The company always acknowledge the fact where the employees are very vital for their success and by their help only, the company can reach its goal.
Customers: Customers are also the dominant stakeholders for the company. They demand more sustainable products for firms. Our company sells brand products for attracting the customer's attention. It creates a bonding within the customers and the firm as well.
Suppliers: Vendors or the suppliers are identified as the discretionary stakeholders where they can possess the attribute for the legitimacy. They would not possess any power and thus the supplier can try to improve the sustainability of the company. ABC company has several suppliers from all the 200 departments. The Company try the maintain the partnership with those suppliers for the improvement of a sustainable relationship.
5. Strategy of policy
5.1 Minimising the usage of resource:
The Company also identifies the category under the Environmental Stewardship program and it is depending on the essential activities where the consumers will associate with the dimension of the environment as mentioned by the government. The stakeholders can also engage with this Stewardship program. The Company is looking for minimum usage of the natural resources in our work process. The company depends on the renewable energy strategy where it will procure the power from the energy providers. It encourages the re-usage of the solar energy within the firm and thus The Company follows the policy of minimisation of the energy resources.
5.2 Reduction of toxic material and hazardous chemical use:
Chemical plays a very significant role in human health and for the organization. In this case, the organization would affect the factors, which contributes the hazardous for protecting the public issues.
ABC takes the initiatives to protect the natural and mineral water sources by balancing the eco-systems (Jory et al, 2019). The Company encourage the zero usage of pesticides along with the chemical fertilisers by the farmers who mainly cultivate the land. This company always creates a separate project for managing the preservation depending on the natural ecosystems and also the cultivation practice that must be positive to the environment.
5.3 Employment of the life cycle management approaches:
ABC Company emphasises over the requirements on safe working environments. The company is also ready to meet all the safe working conditions. The global policy of the company emphasizes on the practices on life cycle management those results with the links with the implementation of the work process. For that reason, the company takes the triple bottom line or 3BL strategy. The three dimensions, like social, environmental, or economic are defined within this strategy (Lewis et al, 2019). Within this strategy, there are three Ps like Profit, People, and Planet. Also, The Company are broadening our focus on our economic aspects for the environment and the social aspects.
The ultimate goal of this life cycle management is to minimise the burden that assesses the usefulness of the product. The product may be under natural resource. It thus affects the environment, economy as well as the society within the entire life cycle. The life cycle also involves any number of the stages for the extraction of many raw materials with the processing, reuse and recycling. This life cycle thinking makes possible for consideration of environmental, social and economic impacts associated with the production, maintenance and consumption of the products. It also ensures that there are improvements within one stage with not to create a larger cumulative impact by shifting the burdens of the life cycle. It thus allows all the companies for checking the influence of the choices as per the sustainability and also help them for taking the decisions.
6. Recommendations of policy options
The ABC retail company is recommended to follow the below points in their policy development:
It is needed to check that the organization strategic plan and the position will fit with environmental sustainability.
All the changes are mandatory or not.
It is required to review the time frame during the phase of implementation.
It is needed to check with the potential improvements as per the result of the implementation of policy.
It is also needed to recheck the financial gain or the cost as compared with the present implementation phase (Virah-Sawmy, 2019)
It is required to check the necessary downtime as well as the possible effects depending on the productivity.
It is needed to notice the potential for the wastage of present stock where the change can be implemented.
There should be a minimum projected time for the cost recovery.
The employee should be provided with training as per the requirements.
It is also needed to integrate the present policies or if necessary new policy has to be written and implemented. For any new policy, it is needed to be evaluated through consultation with the employees and the management. There are several types of evaluation tools. ABC Retail Company uses the Decision Matrix Template for this evaluation of any policy.
7. Development of the policy
The ABC retail company develops the policy where it shows that it minimizes the water resources. A new Key Performance Indicator (KPI) is developed which is assigned against the objectives. This KPI is used to monitor the success rate or progress rate at the time of the work process so that it will achieve the target. The Company need to measure the water bills on monthly basis and thus it is needed to monitor the progress until it would achieve the objectives. By using KPI it is found that water usage is reduced by 56% within a year.
This KPI thus works as the indicator for monitoring the work progress of the goals. It also measures the effectiveness of the strategy, which is related to achieving the goals (Ruiz-Real, 2019). Thus, the policy is implemented for every work progress to use this indicator for achieving the work objectives with more efficiently and effectively.
8. Method of the implementation strategy
It is the action plan that is needed to be implemented as the strategy within the ABC Company. This action plan includes a number of action steps that are needed to agree as per the implementation within the company. Those respective action steps are:
It is needed to identify the actions and changes which will occur.
It is required to check the person who would carry out these steps.
The timeline has to be checked for that reason (Kumar, 2019).
The resources that are needed to carry out for the changes.
The communication plan that can be applied while executing the action plan.
Therefore, from the above discussion, it has been concluded that the sustainability policy can be beneficial for the organization. It will support the growth and productivity of the company as well. From this report, it is also found that the ABC Retail company supports the key policy for reduction of natural recourses. It takes helps of the Key Performance Indicator for the development of the new policy in the company.
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