MGMT 1000 Lecture 3: Week 3 Lecture The Importance of Sustainability.docx
8 Feb 2014
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Achieving fit between internal and environmental opportunities as a strategic planning approach evaluate strengths and weaknesses in relation to opportunities and threats. Examples: offering new products way ahead of competitors, enter a market late but successfully take on the existing competition through pricing strategies. Thrive on consumer loyalty by providing unique benefits. Captures the idea to promote positive economic, social and environmental performance: economic aspect, organizations need to be financially viable make enough money to pay employees, supplier, shareholders. Economic indicators of success: profit and loss statements, market share, shareholder value, price of shares: social aspect, embrace social responsibility as a core value and seek to integrate it with organizational policies and priorities, ex. Safety in the way they do business, human rights maintained, encouraging employees to be involved in community, recognizing efforts: environmental aspect. Implementing green policies to clean up and improve environment to benefit future generations: ex.
