BMM6492 Corporate Sustainability Component 2 Assignment Sample

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Introduction to BMM6492 Corporate Sustainability Assignment 

Corporate sustainability refers to the ability of organisation to operate responsibly through managing environmental, social and economic considerations (Corporate sustainability, 2024). There is key three pillars of corporate sustainability, the environmental pillar, the social pillar and the economic pillar. The report will be based on the Tesco; this is a British multinational groceries and general merchandise retailer headquartered in the United Kingdom (TESCO, 2024). The organisational headquartered is located in the United Kingdom within Welwyn Garden city, England. The organisation was founded by Jack cohen in hackney within 1919. The report will shed light on the analysing the corporate sustainability policy and practices of the organisation. Moreover, it will evaluate the strategic direction of the organisation.

Study samples and reference documents help students perfect assignment organization and skill development. Offering help writing assignment while preserving originality. The BMM6492 Corporate Sustainability Component 2 Assignment Sample illustrates Tesco's triple bottom line strategies and sustainability recommendations. For learning and reference only.

Critically analysing the corporate sustainability policy and practices

Corporate sustainability is global retailer’s strategic concern, involving the Tesco, this focus on the environmental, social and economic responsibilities. Tesco focuses on the effective corporate sustainability commitment within the model of Tripple bottom line.

BMM6492 Corporate Sustainability Component 2 Assignment Sample

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Economic sustainability (Profit): TESCO is largest chain of the retailers, focuses on the sustainability within the business model with managing the profitability. The organisation follows the different strategies of the economic sustainability. Tesco has developed supply chain via forecasting driven by AI, automation and digital innovation to boost the cost effectiveness and decrease waste. Retailer developed the product offering based on the sustainability, like as organic and fair-trade products to develop the consumers who are ethical conscious. The organisation carries the commitment related to the 100% sourcing based on the sustainable and seafood and operates with (RSPO) Roundtable on sustainable palm oil for the effective process of palm oil (Woohyoung et al, 2020). The organisation aligns with the fair wages, ethical labour practices and decreasing the worker exploitation within efficient supply chain. On the other hand, Tesco faces issues of the price wars which affect the suppliers, developing the ethical concerns and supplier exploitation. Moreover, the organisation has focused on the market aggressive expansion which can lead to displacement in local business. 

Social sustainability (people): Efforts of social sustainability within Tesco emphasise on the ethical business practices, community engagement and employee welfare. The organisation offers the inclusion and diversity programs, flexible work and different training opportunity for the workers. The women in leadership programme of organisation aim to boost the representation of female within roles of leadership (Mohanty, 2022). The organisation runs the different initiatives based on the community like as Community grants of Tesco, this funds the projects locally within the social, educational and health welfare. On the critical note, the organisation faced various controversies, like as gender pay gap and worker exploitation within the factories of supplier allegations. Additionally, the organisation pledged to decrease the poverty of food, waste of food in the challenges of supply chain. The approach of Tesco lines up with framework of Triple bottom line but needs further development (Triple Bottom Line, 2024). The organisation should expand the strategies related to the sustainability based on the long term.

Environmental sustainability (Planet): The organisation has applied different initiatives to decrease major environmental footprint along with the sustainability goals of UK and standards of global environmental. The company aims to be business of zero emissions via the year 2050. This particularly invested within the store design of energy effective, delivery fleet of electrification and renewable sources of energy. The organisation committed to decrease waste of food by year 2030, food redistributed via the partnerships with the charity. However, the organisation continues to face issues like as waste packaging as different product lines currently depend on the plastics which is non recyclable. Moreover, Carbon footprint via the logistics operations and supply chain remains important apart from the comments of carbon reduction.

Evaluating extent to which corporate sustainability strategic direct of the organisation might be strengthened

Tesco has created the effective progress with developing sustainability within major operations via resolving effective supply chain, community engagement, waste reduction, ethical sourcing. On the other hand, development of the strategic directions of the corporate sustainability needs to resolve the key gaps and developing present strengths.

Developing financial and operational sustainability: Sustainability efforts of the Tesco have developed to effectiveness within the procurement processes and supply chain. For instance, the organisation invested within sourcing responsibly for the products such as palm oil and seas food. This has applied the measures to decrease the waste of food. The opportunity is to make the incentives for suppliers and customers which develop the sustainable practices. The organisation can introduce the program of loyalty which rewards the consumers for buying ethically and environmentally friendly produced items (Abbamonte & Flavia, 2019). Initiative of the green loyalty can involve the discounts and points which develops the consumers to select the products with the less footprints of environment.

The developmental area is the supplier relationships management. Apart from the overall progress, Tesco has overall faced the issues for providing pressure to the costs of supplier. This might undermine the quality and ethical practices. In order to counteract it, the company can effectively create contracts based on the long term which assure about the stability and fair costs for the suppliers (Bravi et al, 2022). Through providing technical and financial support to the local suppliers and producers of small scale, the organisation may not solely increase the supply chain quality but encourage the local economies. These kinds of iniatives can include the projects collaboratively with the major suppliers to boost the productivity.

Deepening employee well being and social engagement: Initiatives of the community engagement Tesco like as partnership of food redistribution and local grants have created major contribution to the sustainability socially. On the other hand, as expectation of customer develops, there can be key opportunity to development the engagement of community. The approach is to boost the programs which offer support to the local agriculture and small businesses. The organisation can make the mentorship and incubators schemes aimed to entrepreneurs locally, offer them with the financial support and skills required to adopt practices of sustainability (Jones & Comfort, 2019). It will not increase only local community; this also help in supplier diversification of Tesco.

Well being worker is key area in which the organisation might create the stalks. The organisation has developed effective programs for the professional development, inclusion and diversity, further measure can emphasise on the work life balance and mental health. For example, applying programs of well being like as arrangements of flexible work, counselling services of in house and mental health days. This might increase the productivity and morale of staff. Moreover, ongoing audit of the transparent reporting and workplace practices on the regular progress related to the inclusion and diversity objectives will boost the commitment and trust to the ethical practices of employment.

 Accelerating iniatives of environment: In context to the environment, the organisation created the major commitment, like as targeting 2025’s next zero emissions and decreasing the carbon footprint. Yet, challenges particularly remain within the logistics emissions and waste from packaging. The aggressive approach related to the waste management can include the developed technologies adoption. This includes the inventory systems AI driven to decrease the further food waste and minimise the overstock. These different technologies might boost the forecasting demand, assuring that the inventory excessive is reduced and redirected surplus to the organisations charity.

Moreover, Tesco can effectively explore the solutions of innovative packaging beyond developments of recycling (Jones, 2023). For example, the organisation can invest within the reusable packaging and biodegradable alternatives. The testing of the pilot programs innovate the major materials within the key product lines can cover the way for business adoption. In context to the logistics and transportation, organisation can ongoing invest within the delivery routes and vehicles of low emission. By using the plan of data analytics to more effective routes might decrease the emissions and fuel consumption.

Making the recommendations in relation to corporate sustainability developments

Expanding practices of sustainable supply chain: Tesco is committed to the sourcing ethically, but this might boost the strategy of sustainability via supporting the agriculture of regenerative and enhancing the supplier partnerships. The organisation should boost the partnership with the cooperatives and local farmers to promote the regenerative agriculture organic practices. It will decrease the large scale and reliance, boost food security and high farming emission. The organisation should apply the stricter process of sustainability certification for the suppliers. Same as fair-trade standards and rainforest alliance will boost the supply chain transparency and develop best practices.

Developing initiatives of circular economy and waste reduction: Tesco has focused on decreasing plastic and food waste, but this might boost the efforts via effectively integrating principles of circular economy within the operations. The organisation should pilot the program of the refill station in which the consumers might refill detergents, pasta, rice and everyday essential, decreasing the packaging waste (Jones & Comfort, 2020). The company recommended to partnership with the firms of waste management and packaging innovators might help company to boost the solutions of compostable and biodegradable packaging.

Enhancing incentives of sustainable purchasing and consumer engagement: The customer behaviour play a key role within the overall sustainability. The organisation develops the sustainable habits of shopping via the various targeted programs. Tesco should introduce the programs of sustainability rewards which offer the incentives of the consumers (loyalty points and discounts) for buying sustainable products. The company recommended to apply the clear labels of carbon footprint on every product will permit the consumers to create the effective decision related to the impact of environment of the buying. By expanding the product lines based on the plant and developing the affordable organic alternatives.

Increasing community and employee engagement: Tesco might boost the impact of social sustainability via investing within local communities support and well being of workforce. The company introducing sustainability programs, support programs for mental health and arrangements of flexible working for the staff to develop the workforce environmental conscious and engaged (Fadeyi, 2020). Tesco recommended establishing the support of the dedicated funds of the agriculture programs driven by community, initiatives of renewable energy and projects of local sustainability. Tesco can make the programs for the skills development for the members of local community and workers to train effectively within the practices of circular economy, renewable energy and sustainable agriculture.

Reporting the sustainability progress and enhancing transparency: In order to develop the trust with the different stakeholders, the organisation should ongoing increase the sustainability disclosures. Company needs to align with the TCFD (Task force on climate related financial disclosure) and (GRI) Global reporting initiative might boost the accountability. By making the public dashboard for interaction in which the regulators, investors and consumers can effectively track out the sustainability performance of Tesco. This involves the ethical sourcing, waste reduction and carbon emissions. By hosting the major open forums in which the Tesco effectively in which the organisation can engage with the sustainability experts, workers and consumers to discuss the future objectives and progress.

Conclusion

Tesco set out the effective corporate sustainability via the iniatives within the community engagement, waste reduction and responsible sourcing, there can be developmental opportunity. By making the supplier incentives and consumer, these are encouraging the innovative technologies, developing employee programs and community as well. The organization might boost the strategy of the sustainability. By developing the innovative technologies for the logistics and waste management, developing employee and community programs, the organization might boost the sustainability strategy. These effective steps will decrease the social and environmental impacts but project the profitability and competitive edge within developing market of sustainability conscious. By making use of the strategic options such as developing transparency, increasing employee engagement, encouraging the consumer behaviors for the sustainability, developing waste reduction. Tesco might boost the position as organization of the overall corporate sustainability. These different iniatives would drive the success based on the long term and decrease the environmental impact.

References

Books and journals

• Abbamonte, L., & Flavia, C. (2019). Adaptively Evolving Ecosystems: Green-speaking at Tesco. In Worlds of Words: Complexity, Creativity, and Conventionality in English Language, Literature and Culture (Vol. 2, pp. 407-422). Pisa University Press.
• Bravi, L., Gori, R., & Musso, F. (2022). Corporate Social Responsibility: A Longitudinal Analysis in the Retail Sector. In Managing Sustainability: Perspectives From Retailing and Services (pp. 9-31). Cham: Springer International Publishing.
• Fadeyi, A. P. (2020). An Analysis on the Application of Motivational Theories at Workplace and the Impact on Employee Engagement: A Study of Tesco Ireland (Doctoral dissertation, Dublin, National College of Ireland).
• Jones, P. (2023). Corporate social responsibility and the sustainable development goals: the UK’s four largest retailers. In BEYOND THE DARK ARTS: Advancing Marketing and Communication Theory and Practice (pp. 97-121).
• Jones, P., & Comfort, D. (2019). Storytelling and corporate social responsibility reporting: a case study commentary on UK. food retailers. Journal of Public Affairs, 19(4), e1834.
• Jones, P., & Comfort, D. (2020). Sustainability in retail supply chains. International Journal of Sales, Retailing and Marketing, 9(2), 51-60.
• Mohanty, J. (2022). Sustainable Marketing of Csr Through Employee Volunteering: The Tesco Experience. Academy of Marketing Studies Journal, 26(S2).
• Woohyoung, K., Kim, H., & Hwang, J. (2020). Transnational corporation’s failure in China: Focus on Tesco. Sustainability, 12(17), 7170.

Online

• Corporate sustainability, 2024. Online. Available through <https://sphera.com/resources/glossary/what-is-corporate-sustainability/>
• TESCO, 2024. Online. Available through <https://www.tesco.com/?srsltid=AfmBOoownrLKEITAesaXMpiWwrSvsFnc6qVa2lv-08kC8MvqglWzdf74>
• Triple Bottom Line, 2024. Online. Available through https://online.hbs.edu/blog/post/what-is-the-triple-bottom-line