SUSTAINABILITY AND BUSINESS Research Paper Example | Topics and Well Written Essays - 2250 words

SUSTAINABILITY AND BUSINESS - Research Paper Example This results in degradation of land, accumulation of waste, and depletion of water, oil, fuel, forests, fishing, minerals, and other natural resources. Hence conservation of natural resources is vital. Uncontrolled production of waste has to be reduced, and recycling of used products undertaken. Corporate social responsibility that advocates sustainable business practices is increasingly required. In the information-based environment business and government practices are becoming more transparent. The Triple Bottom Line of economical, social and environmental regeneration underscores corporate operations. Together with creating a more sustainable world, ethical behavior and sustainable business operations provide organizations with a competitive advantage, resulting in increased customer loyalty, greater productivity and profitability. Introduction Sustainability is defined as â€Å"meeting the economic, social, and environmental needs of the present without compromising the similar needs of the future generations†1. It is an ongoing process and includes the regeneration and equitable distribution of resources, awareness of the mutual inter-relationships between the economy, the society and the environment, prevention and control of environmental degradation, waste reduction, and the sparing use of non-renewable and renewable resources. Sustainable businesses replace nationally and internationally produced goods with products created locally and regionally; are responsible for the effects they have on the natural world; grow and develop without the need for exotic sources of capital; and use production processes that take into account the dignity and human rights of individuals and communities. Additionally, sustainable business practices result in durable and harmless products which have long-term use; and they convert consumers to customers by educating them on product purchasing2. Thesis Statement: The pupose of this report is to investigate the impor tance of sustainable business practices and to highlight the sustainable strategies used by contemporary global organizations to tackle the issue. Recommendations will be presented on how global businesses can improve their advocacy of sustainability. CSR Aids Economic, Social, Environmental & Business Sustainability Corporate Social Responsibility (CSR) is business’ contribution to sustainable development. Organizations in a global environment often play an important role beyond the creation of employment and wealth, to include responsibility for societal and ecological issues3. Sustainability of the environment and the natural resources of the earth is one of the most vital concerns underscoring corporate social responsibility. Another important force that drives corporate social responsibility is the practice of business ethics with transparency of information, and corporate accountability for actions taken4. To promote ethical business processes, new regional and bilatera l trade treaties are focusing on human rights issues such as labor rights and fair trade5. Other major trends that drive corporate social responsibility include the greater access to information by consumers on ethical and sustainability issues. Additionally, the rise of globalization creates powerful capitalist development which calls for the harmonizing of corporate interests with the larger public interests. Moreover, the failure of the public sector necessitates the private sector to resolve sustainability issues6. Corporate social initiatives are major activities undertaken to support causes and to fulfill commitments to corporate social responsibility. Six important social initiatives are: cause promotions, cause-related marketing, corporate social marketing, corpor

Mobile Banking Factors why consumers are resisitng the new technology Essay

Mobile Banking Factors why consumers are resisitng the new technology - Essay Example Hence, better technology will lead to quicker and more enjoyable mobile transactions. This report focuses on the customer response to mobile banking in California, US. Through one-on-one interviews with 100 young consumers (ages ranging from 15 to 25 years old) the nature of consumer resistance to mobile banking is explored and explained. This strategic report also offers a hopeful examination of the future prospects of mobile phone banking applications in California. Mobile banking represents a daring and emerging innovation with currently relatively low usage rates among American consumers. However, this segment is expected to have a high usage rates in the future with the implementation of improved features by the service providers. The first applications of mobile banking were implemented in the mid-nineties which enabled bank customers to make payments and request account balances via mobile phone as an SMS service. However, compared to Internet banking in developed countries, mobile banking adoption rates in developed and developing countries have been rather low and slow. When mobile phone banking was first launched in the US market in mid-2002, the US consumers had a lukewarm response to the new technology during that time. Only a few percentage of the customers were open to mobile phone banking. ... 9.2.1. Mobile Banking Questions 14 List of Tables 1. Introduction Mobile banking represents a daring and emerging innovation with currently relatively low usage rates among American consumers. However, this segment is expected to have a high usage rates in the future with the implementation of improved features by the service providers. The first applications of mobile banking were implemented in the mid-nineties which enabled bank customers to make payments and request account balances via mobile phone as an SMS service. However, compared to Internet banking in developed countries, mobile banking adoption rates in developed and developing countries have been rather low and slow. When mobile phone banking was first launched in the US market in mid-2002, the US consumers had a lukewarm response to the new technology during that time. Only a few percentage of the customers were open to mobile phone banking. Approximately, only 4% of US online consumers with a mobile phone use a feature of mobile banking. Another 5% of the consumers were interested, however, the remaining 72% of the customers were not interested at all. (Meyer, Thomas, 2007) 1.1. Background of the StudyMobile phone banking did not have a great beginning in the US banking market. For instance, the Wells Fargo shut down its mobile phone banking offering in 2002 give a skeptic response from the bank customers. In addition, Forrester Research found out that only 10% of American consumers indicated that they would consider mobile banking, versus the 35% or so who already bank online. The customer resistance for mobile phone banking has been persistent. A common reason for this is that the bank customers are conservative and security conscious with respect to their money. These