Over the first three weeks of this course, students are required to consider the sustainability-related issues and themes explored in the course and REFLECT on how these issues intersect with the...

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Over the first three weeks of this course, students are required to consider the sustainability-related issues and themes explored in the course and REFLECT on how these issues intersect with the world of business. These reflections are to be presented in a reflective journal, NOT a research assignment or description or summary of these themes.

These themes (including issues, challenges, concepts and approaches) MUST be discussed in terms of their relevance and/or implications for business and MUST be drawn from those raised in class presentations, discussions and activities, resources provided on the course Moodle page and/or prescribed readings. Suitable themes for reflection may include:

· Sustainability, the Triple Bottom Line & business;

· The Six Forms of Capital used by businesses;

· The six phases of business approaches to sustainability (Dunphy, Griffiths & Benn, 2003);

· Examples of businesses successfully engaging in sustainable business.

In this assessment task, students are required to demonstrate not only their understandings of the themes but also their consideration of the implications for the business sector and/or the student’s current/future role in business. Students should provide their thoughts, feelings, responses, reactions, opinions and ideas on the material explored. Critical thinking should be demonstrated in these reflections.

While this task is not a research task, sources referred to in your reflections still need to be referenced using the APA referencing style. For information on the style of writing required, please refer to the samples and guides provided on the course Moodle page.

Answered Same DayMar 30, 2021BUGEN5930

Solution

Soumi answered on Apr 02 2021
53 Votes
Running Head: SUSTAINABLE BUSINESS    1
SUSTAINABLE BUSINESS        6
BUSINESS ETHICS
BUGEN 5930— BUSINESS, SOCIETY & THE PLANET
SUSTAINABLE BUSINESS
ASSESSMENT 1 – REFLECTIVE JOURNAL
My Understanding of Sustainability, Triple Bottom Line and Business
The aim of any business should be to add value to the society rather than merely earning economic profits. Triple bottom line is one of the best markers to assess the sustainability of the business and assessing its real profitability. As stated by Nicolescu (2018), a sustainable business aims at attaining one or more goals for sustainable development. Being a manager of Woolworths, I observed that that in spite of an increase in the volume of business, the job-growth was low. It was observed that excessive pressure was being created on existing employees in order to reduce the cost.
This was reflected in low job growth in the area. Steps were taken to ensure zero poverty in the region. Youth was imparted basic training to make them employable. Basic skills includes basic information technology skills, technical skills and others. Woolworths aims towards contributing heavily towards the society through its initiatives for development of the society. I have been an active part of the corporate social responsibility initiatives of the company, which includes plantation drives, spreading awareness for drug abuse, traffic awareness and others. I ensured that the suppliers source the materials ethically rather than underpaying the labours.     Comment by Sumit: Other examples than CSR please??? How has CRS impacted life of people
Such initiatives has led to reduction in drug abuse among the youth. In addition to that, the traffic awareness has reduced the number occident due to rash driving and other such issues. I had used my knowledge to ensure that the initiative have a real impact on the society. Many companies undertake societal initiatives just to improve their image rather than making some real contribution. However, I ensure that all the CSR activities undertaken by Woolworths have a real positive impact on the lives of the people.
My Understanding of Six Forms of Capital in Businesses
As noted by Nerini et al. (2018), internal economic capital, external economic capital, nature capital, human capita, social and relationship capital and constructed capital are the six types of capital used by a business. In the modern times, human capital and relationship capital are the most important for any business. In case of Woolworths, human capital is given...
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