Problem:
In response to your peers, evaluate their suggestions and comment on what you think will work most effectively.
Respond to the two statements below with the information above.
First statement:
When referring to the Triple Bottom Line (TBL) we view it as people, planet, and profit. To run a successful sustainable supply chain, it must be fully integrated in areas such as ethical and environmental. There is zero half doing on this. The difficult parts of running a sustainable supply chain could be lack of resources, lack of knowledge, and lack of managing standard environmental practices. Without proper direct resources , how can you as a company maneuver? A company must develop strategic plans to gather the resources they need just incase the main source run out. Educating the staff. Weekly meetings should become regular in terms of educating the staff on sustainability. New hires are hired often and need to be bought up to speed on sustainability. Practicing how to stay green! Coming up with the innovational ideas on ways to keep the people and environment totally safe!
How can I compromise with overcoming the environment. Dealing with the environment can become rather expensive. Although, having a balanced triple bottom line, I would place more infuses on the environment. What ways can the company lower emission? Lower shipping cost to cut down on emission turns into a win . Coming up with innovational changes can make things a little greener. Resistance from management to change that may affect the financial sustainability. Having a strong financial team in the company will cover the basis of this matter. The current state of sustain ability and the triple bottom line of the company I chose is phenomenally great (Siemens LTE). Siemens is one of the top in innovation on keeping the triple bottom line in a balanced position.
Second statement:
I would focus on becoming environmentally sustainable. Taking the financial hit and making the large investment to change over the companies ways. By doing so, it opens up a new market that they could work into. It will take time but making the investment would pay off in the long run. The Triple bottom line will always be affected, but careful planning and thought would help reduce that to a minimum. Hitting some resistance will be expected, but the delay of change will result in more money lost. Time is money, the ability to make change happen should be quick to reduce risks.
The company that I used for my final project was Apple inc. This company has made it a goal to be 100% carbon neutral within the next decade. Changing their ways to become environmentally sustainable while keeping the triple bottom line balanced. Financially the company is profiting while reinvesting money back into the company to make change happen. They are also able to help smaller companies become environmentally sustainable while still improving their companies.
The key element that will keep a company successful is being open to change. Change is alway happening and it's up to the company to be able to keep up with that change. Becoming stagnant and stuck in a routine for too long could have negative affects in the long run. Somethings may have to change due to regulations and rules, but others will have to in order to keep the appeal of the consumers.