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Sustainable Business Practice in a Dynamic Global Environment

Sustainable Business Practice in a Dynamic Global Environment
Porter and Kramer (2011) identify the opportunities to create shared value for business and society as a key source of competitive advantage. Increasingly stakeholders are pressuring business to adopt integrative thinking in its use of ‘capitals’ for creating value.
Read the case study provided to you, i.e. “Marks & Spencer: the Business Case for Plan A” (Spitzeck, H 2009, Cranfield University). Also access Marks &Spencers’ website (and especially their 2013 Plan A report http://corporate.marksandspencer.com/investors/reports_publications/2012_2). Note that Marks andSpencer (M&S) aim to become the world’s most sustainable international multi-channel retailer.
• What are the main features of the International Integrated Reporting Council’s business model framework? How might this framework help businesses become more sustainable? Explain and justify your response.
• Apply this framework together with other relevant frameworks, models or theories, in assessing how M&S has integrated its stewardship of ‘capitals’ in the business model underpinning Plan A.
• Evaluate the success of their approach and argue the case for improvements
As well as effectively responding to the task requirements and effective communication and presentation, there is a significant focus on scholarship & critical analysisas parts of the assessment criteria; so catering for these elements is absolutely essential!
In framing recommendations, ensure you have justified your advice in the body of the report with reference to relevant academic and other sources. Your recommendations must be workable, and capable of being implemented by the organization concerned if it so chose.
The appropriate useof visual illustrations i.e graphs and figures relevant to the case organization is highly desired.
Presentation Requirements
The report structure should include at a minimum
• An executive summary that succinctly presents the main arguments, conclusions and recommendations;
• An index or table of contents complete with page numbering;
• An introduction that covers the issues relevant to the question that you will be considering in the report and the scope of your inquiry;
• The report body including identification and rigorous analysis of the issues you have identified;
• A conclusion that reflects your overall assessment of the effectiveness of the organization’s approaches to decision making and risk management, and
• Recommendations for change as appropriate.
Sources:Anywhere between 12 to 20 (quality is more important than quantity!)
Main sources (Some attached!):
1. The case study provided to you, i.e. “Marks & Spencer: the Business Case for Plan A” (Spitzeck, H 2009, Cranfield University)
2. The Marks &Spencers’ website (and especially their 2013 Plan A report http://corporate.marksandspencer.com/investors/reports_publications/2012_2).
3. Burgelman, RA 2002, Chapter One in Strategy is destiny: how strategy-making shapes a company’s future, The Free Press, New York
4. Martin, RL 2010, ‘The Execution Trap’, Harvard Business Review, July/August, pp. 64-71
5. Mintzberg, H &Lampel, J 1999, ‘Reflecting on the Strategy Process’, Sloan Management Review, Spring
6. Porter, ME & Kramer, MR 2011, ‘Creating Shared Value’, Harvard Business Review, vol. 89, no. 1-2, pp. 62-77
7. Accenture, Marks & Spencer and Business in the Community, 2103,’Fortune Favours the Brave by Accenture, Marks & Spencer and Business in the Community’, http://www.accenture.com/gb-en/Pages/insight-fortune-favoursbrave.aspx?c=mc_prposts_10000045&n=otc_1013
8. Haanaes, K, Arthur, D, Balagopal, B, Kong, MT, Reeves, M, Velken, I, Hopkins, MS, &Kruschwitz, N 2011, Sustainability: The Embracers Seize the Advantage, MIT Sloan Management Review and Boston Consulting Group, http://www.bcg.com/documents/file71538.pdf
9. Porter, ME 2001, ‘Strategy and the Internet’, Harvard Business Review, March
10. Porter, ME & Kramer, MR 2006, ‘Strategy and Society: The Link Between Competitive Advantage and Corporate Social Responsibility’, Harvard Business Review, December
Secondary sources (In addition to the main sources only draw the rest of sources from the list below):
• WBCSD 2010, Executive Summary – Vision 2050: The new agenda for business, available at http://www.wbcsd.org/vision2050.aspx
• WEF 2011, Executive Summary, Outlook on the Global Agenda 2012, viewed 4 January 2012 http://www3.weforum.org/docs/GAC11/WEF_GAC11_OutlookGlobalAgenda.pdf
• Pages 10-32 of Samson, D & Daft, RL 2005, Fundamentals of Management: Pacific Rim. 2nd ed. Thomson, South Melbourne, Australia
• Taleb, NN 2008, Prologue – The Black Swan: The Impact of the Highly Improbable, Penguin Books, London
• Bolton, D 2014, ‘The managerial role and the growing importance of stakeholders’, PPT presentation
• Carroll, AB &Buchholtz, AK 2012, Chapter 3, ‘The stakeholder approach to business, society, and ethics’, in Business and Society: Ethics, Sustainability, and Stakeholder Management, 8e, South-Western Cengage Learning Mason US pp. 64-90
• Freeman, RE, Wicks, AC &Parmar, B 2004, ‘Stakeholder Theory and “The Corporate Objective Revisited”’, Organization Science, vol. 15, no. 3, pp. 364-369
• Prahalad, CK & Hamel, G 1990, ‘The Core Competence of the Corporation’, Harvard Business Review, May-June, pp. 79-91.
• Sirmon, DG, Hitt, MA & Ireland, RD 2007, ‘Managing firm resources in dynamic environments to create value: Looking inside the black box’, Academy of Management Review, vol. 32, no. 1, pp. 273-292
• Confino, J 2011, ‘Time for the West to get its act together on climate change’, The Guardian, http://www.guardian.co.uk/sustainable-business/business-climate-change-bjorn-stigson
• Elkington, J 2006, ‘Governance and Sustainability’ Corporate Governance, vol. 14, no. 6, pp. 522-529
• Nahapiet, J &Ghoshal, S 1998, ‘Social capital, intellectual capital, and the organizational advantage’, Academy of Management Review, vol. 23, pp. 242-266
• Nidumolu, R Prahalad, CK &Rangaswami, MR 2009, ‘Why sustainability is now the key driver of innovation, Harvard Business Review, September
• World Business Council for Sustainable Development 2010, Vision 2050: The new agenda for business, http://www.wbcsd.org/vision2050.aspx
• World Economic Forum 2013, Outlook on the Global Agenda 2014, http://www.weforum.org/reports/outlook-global-agenda-2014
• Hillson, D & Murray-Webster, R 2007, Chapter 2 – Understanding and Managing Risk Attitude, 2nd Edition, Gower, England
• Hubbard, DW 2009, Chapter 2 – The Failure of Risk Management: Why It’s Broken and How to Fix It, John Wiley & Sons, NJ
• Kaplan, RS, Mikes, A, Simons, R, Tufano, P, Hofmann, M 2009, ‘Managing Risk in the New World’, Harvard Business Review, October
• Bolton, D & Galloway, C 2014, ‘The holistic dilemma: Helping management studentsdeal with risk’, The International Journal of Management Education, vol. 12, no. 2, pp.55–67
• Brooks, LJ & Dunn, P 2010, Business & Professional Ethics for Directors, Executives & Accountants, 5th Edn, South-Western Cengage Learning, OH USA, Chapter 1
• Weiss JW 2006, “Ethical Principles, Quick tests, and Decision-making Guidelines”, in Business Ethics: A stakeholder and Issues Management Approach, 4th Ed, Thomson South Western, Chapter 3
• Sauser, WI 2005, ‘Ethics in Business: Answering the Call’, Journal of Business Ethics, vol. 58, pp.345-357
• Cato, M 2011, Selected reading from Environment and Economy, Routledge, London.
• Lawn, P 2013, ‘The Economics of Sustainable Development’ in Moscardo, G [et al.] 2013, Sustainability in Australian Business: principles and practice, John Wiley & Sons, Qld, Aust
• Costantini, V and Martini, C. 2006, ‘A Modified Environmental Kuznets Curve for Sustainable Development Assessment using Panel Data’
• Chapter Five (5) of Ison, S, Peake, S & Walls, S 2002, Environmental Issues and Policies, Pearson Education Limited, Glasgow
• Kahn JR 2005, Chapter 3 ‘Government Intervention in Market Failure’ in JR Kahn,
The Economic approach to Environmental and Natural Resources, Thomson South
Western K
• Baumgartner, R &Ebner, D 2010 ‘Corporate Sustainability Strategies: Sustainability Profiles and Maturity Levels’, Sustainable development, vol. 18, no. 2, pp. 76-89
• Sustainability Readings from Benn, S & Bolton, D 2011 Key Concepts in Corporate Social Responsibility, Sage, London, including ‘Business Case for CSR’, ‘Corporate Sustainability Strategies’, and ‘Risk Management’
• Brooks, A, Oliver, J, Vesty, G, Eldenberg, LG, Wolcott, S 2008, Chapter 16 -Contemporary Management Accounting, John Wiley & Sons, Australia
• Weber, M 2008, ‘The business case for corporate social responsibility: A company level measurement approach for CSR’, European Management Journal, vol. 26, pp.247-261
• Carroll, AB &Shabana, KM 2010, ‘The Business Case for Corporate Social Responsibility: A Review of Concepts, Research and Practice’, International Journal of Management Reviews, pp. 85-105
• Mitchell, RK, Agle, BA & Wood, DJ 1997, ‘Toward a Theory of Stakeholder Identification and Salience: Defining the Principle of Who and What Really Counts’, Academy of Management Review, vol. 22, no. 4, pp. 853-886
• Wood, D 2010, ‘Measuring Corporate Social Performance: A Review’, International Journal of Management Reviews, vol. 12, no. 1, pp. 50-84
• Birt, J, Chalmers, D, Byrne, S, Brooks, A, & Oliver, J 2010, Chapter 8 ‘Analysis and Interpretation of Financial Statements’, Accounting: Business Reporting for Decision Making, 3rd Edition, John Wiley & Sons
• Bolton, D. 2004, ‘Change, coping and context in the resilient organisation’, Mt Eliza Business Review, vol. 7, no. 1, pp. 57-66
• Macey, WH & Schneider, B 2008, ‘The Meaning Of Employee Engagement’, Industrial and Organizational Psychology, vol. 1, pp. 3-30
• Raelin, JA 2013, ‘The manager as facilitator of dialogue’, Organization, vol. 20, no. 6, pp. 818-839
• Ancona, D., Malone, T.W., Orlikowski, W.J. and Senge, P. 2007, ‘In Praise of the Incomplete Leader’, Harvard Business Review, February
• Boxall, P & Purcell, J 2011, ‘Strategic HRM and sustained competitive advantage’ in Strategy and Human Resource Management, Palgrave Macmillan, UK
• Hamel, G &Välikangas, L 2003, ‘The Quest for Resilience’, Harvard Business Review, September, pp. 52-63
• Pfeffer, J. 1995, 2005, ‘Producing sustainable competitive advantage through the effective management of people’, commentary by Hatano, T, Academy of Management Review, vol. 19, no. 4, pp. 95-106
• Ryan, RM &Deci, EL 2000, ‘Self-Determination Theory and the Facilitation of Intrinsic Motivation’, Social Development, and Well-Being’, American Psychologist, vol.55, no.1, pp. 68-78 Sikora, PB, Beaty, ED & Forward, J 2004, ‘Updating Theory on Organizational Stress:The Asynchronous Multiple Overlapping Change (AMOC) Model of Workplace Stress’, Human Resource Development Review, vol. 3, no. 1, pp. 3-35
• Weick, KE, Sutcliffe, KM &Obstfeld, D 2005, Organising and the Process of Sensemaking, Organization Science, vol.16, no. 4, pp. 409-421
• Belz, F-M 2006, ‘Marketing in the 21st Century’, Business Strategy and the Environment, vol. 15, no. 3, pp. 139-144
• International Integrated Reporting Council (IIRC), 2013, ‘Business Model’, http://www.theiirc.org/wp-content/uploads/2013/03/Business_Model.pdf
• Shafer, SM, Smith, HJ & Linder, JC 2005, ‘The power of business models’, Business Horizons, vol.48, no. 3, pp. 199-207
• Hoffman, E 2007, ‘Consumer Integration in Sustainable Product Development’ Business Strategy and Environment, vol. 16, no. 5, pp. 322-338
• Linder, JC & Cantrell, S 2001, ‘Business Models: Cautionary Tales’
• Mansfield, GM &Fourie, LCH 2004, ‘Strategy and business models – strange bedfellows? A case for convergence and its evolution into strategic architecture’, South African Journal of Business Management, vol. 35, no. 1 pp. 35-44
• Osterwalder, A, Pigneur, Y, &Tucci, CL 2005, ‘Clarifying Business Models: Origins, Present, And Future Of The Concept’, Communications of the Association for Information Systems, vol. 16, pp. 1-25
• Porter, ME 2001, ‘Strategy and the Internet’, Harvard Business Review, March
• Benn, S. and Dunphy, D. 2007. ‘New forms of governance: Changing relationships between corporates, government and the community’, in Benn, S. and Dunphy, D. (eds) Corporate Governance and Sustainability: Challenges For Theory and Practice, Routledge, London
• Elkington, J. 2006, ‘Governance for Sustainability’ Corporate Governance, vol. 14, no.6, pp. 522-529
• Meyer, C & Kirby, J 2010, ‘Leadership in the Age of Transparency’, Harvard Business Review, vol. 88, no. 4, April, pp. 38-46

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