MBA Management course -'Business in Society' Essay

MBA Management course -'Business in Society' - Essay Example eading corporations of the world are now expanding their sustainability initiatives to focus on accountability and minimize risks by increasing "baseline expectations of investors" and ensuring their strategies are in line with the investment communitys objectives. This would demonstrate corporate commitment towards the investors and shareholders who ultimately will support the companys scalable sustainability endeavors.1 At IKEA, we have always believed in integrating sustainability strategies to support our work environment through materiality and operations-based initiatives. We have been ahead of our competitors in sustainability initiatives. Some of our notable projects during 2006 had been making home furnishing products safe for environmental effects; support for responsible forestry based on set up requirements for wood suppliers; support for sustainable cotton production; and acceptable working conditions. In 2007 we have introduced IWAY (IKEA Way on Purchasing Home Furnishing Products) which encourage consumers to help us achieve sustainability goals. Our current initiatives include working towards reduction of child labor, contribution towards climate impact; and going towards renewable energy by supporting sustainable transport; and working with communities towards sustainability.2 These aspects demonstrate that though, a highly environmentally conscious company, IKEA’s strategies in the past has been focused on material and operations exclusively. For the future, we need to develop more stringent strategies which Tomorrows Value report indicates as, investors perspectives of sustainability. At IKEA, we have only been able to achieve this through dialogues with unions, suppliers, companies and related organizations. So far IKEA has been able to develop a process for sustainability and mechanisms for monitoring it.3 We need to tailor our sustainability strategies to align with tomorrow’s values and sustainability to increase market opportunities.