Week 10

Reflection

This week in our lecture the topic we focused on was sustainability which a guest lecturer came in to talk us through the presentation. We filled in a quiz about sustainability which had questions such as 'How many kilometres are driven each year to deliver goods to stores, service stations & homes in the UK?' and 'London has committed to reduce its carbon emissions by what percentage by 2025?' When the answers were revealed I was shocked at the answers. I learnt that by 2025 London has committed to reduce its carbon emissions by 60% which I thought was a high percentage as study shows that the City of London were responsible for emitting 15.5 tonnes of carbon dioxide a year. (Carbon Brief, 2013)

We then went into the UN Sustainable Development Goals which are made up of 17 important factors that make a sustainable environment. Some examples of these may be health and well-being, no poverty, clean water and sanitation and responsible consumption and production. These factors concern the needs of both more and less economically developed countries. Paris Conference was the first to commit to the Sustainable Development Goals in December 2015. The lecturer then went on to explain how air, water and food are the main key systems that help to sustain the human race. Without these factors there would be no sustainability at all.

Lastly we discussed how sustainability is important for businesses and how it could prompt a risk towards a business. From my own research I found out that businesses are making strategic decisions around the type and extent of their corporate sustainability policies. Enforcing environmental sustainability within business practices can have a number of significant benefits. Sustainable businesses are often the most innovative as they are constantly reviewing processes to find new solutions and ways that they can use alternative ways to produce products or services. Businesses that have a mission of environmental sustainability can build a reputation with consumers who are eco-friendly which means they have a platform for a specific type of customer while also offering a product and service for people who may not care about the environment.

Going greener actually makes some business more money due to less expenses on production, materials and tax. Companies such as Tesla, Nike and Unilever make over one billion dollars from being a greener company. This also gives them a competitive advantage over similar businesses within their industry.

There are many ways for businesses to help the sustainability around the world. For example: Tom's, the shoe manufacturer has a project running which gives a pair of shoes or eyewear to children in less developed countries or every shoe bought. They are also helping to provide water for these children in less developed countries.


References
Carbon Brief (2013) City of London tops UK carbon footprint list. Available from: https://www.carbonbrief.org/city-of-london-tops-uk-carbon-footprint-list

Teamwork

This week within my team it was the last week before the coursework had to be handed in. We worked on the presentation to try get it finished to the highest of standards. We had to make sure each slide was okay to present, so checking its presentation, if the audience can read it, if it looks professional and that it has all of the information we need on it. We filmed our presentation today and it ran very smoothly and the team was happy with the final product. 

I am very happy with my teammates efforts throughout this project as they were always on time for meetings, always helping each other and communication was constant throughout the whole 10 weeks. There was a few times when members of the team couldn't make it to meetings but it was fine due to the communication of the team. Overall, I am very pleased with our final product and our efforts as a team.

Week 9

Reflection

This week we were off for easter break, therefore I looked back at all lecture and seminar notes from the past 9 weeks. I also made sure to read the requirements for the reflective writing piece for coursework 2. I am excited to do the reflective writing skills as I feel I have the knowledge and skills to write a good reflection about the past 10 weeks. 

Teamwork

This week as we were off for easter break, we kept in contact through social media and decided to meet up to discuss the problems within Japan Tobacco International as we didn't feel that we could get everything we were saying across within a text. We came up with more solutions with the problems our business was facing by going to the library and doing a lot of research with similar companies. One of the problems our company had was that the market was becoming smaller, more restricted and more competitive, especially within the tobacco industry. We decided as a team that companies need to find new and more effective ways to penetrate the market whether that is keeping up with trends such as 'vaping' and electronic cigarettes. Also, they could fix this by using IS such as creating databases for their existing and loyal customers which helps keep the customers up to date with anything new happening that involves the business, any discounted products, any new launches or even about loyalty privileges . This could expand the companies market and give them a competitive advantage as none of the competitors offer this service.

Another very serious problem the company faced was annual tax increases on their products. As smoking is frowned upon and people are addicted, the government do not care about raising the tax on tobacco products which could possibly damage the net profit as people may stop buying them or move to a cheaper brand of tobacco. We came up with the solution of the company calculating an estimate of the tax increase and then maybe cutting the costs of production or to their overall budget. This could possibly make up for the loss of profit and also help them focus on where their money will go when drawing up the budget for the following year. There are many tool that help make these predictions and that help to cut the costs of the business where necessary.