Reference no: EM133226961 , Length: word count:3000
Sustainable Business Practices
A/616/2738
Level 6
LO 1: Understand the global sustainability agenda.
1.1 Evaluate the global sustainability agenda and how it relates to national practice.
1.2 Analyse the forces for change in the sustainable business environment.
1.3 Evaluate the impact of current sustainability issues on businesses.
LO 2: Understand the concept of the sustainable business organisation.
2.1 Determine the scope of the sustainable business organisation.
2.2 Evaluate the impact on business structure and objectives of becoming a sustainable business organisation.
LO 3: Be able to review sustainable strategic business planning.
3.1 Analyse the concept of the triple bottom line and review how it is implemented in business organisations.
3.2 Determine change required within business organisations to meet a sustainability agenda.
3.3 Review the process of sustainable strategic business planning.
Scenario
Primark Case study
Introduction
Primark is a subsidiary company of the ABF (Associated British Foods) Group. The company was launched in 1969 in Ireland trading as Penny's. By 2000, there were over 100 stores across Britain and Ireland. By 2012 Primark had 238 branches across the UK, Ireland and Europe. Primark has become distinctive for offering unbeatable value while never losing its innovative, fashion-driven edge.
Like many retail fashion businesses, Primark does not manufacture goods itself. Its expertise lies in understanding its customers and working with its suppliers to produce goods to Primark's specification. It then gets the right goods to the right places at the right prices. Its profitability depends on sheer volume of sales. Primark's value-for-money prices rely on low costs. These are achieved in part through economies of scale and efficient distribution.
Primark's products are mainly sourced from suppliers in Europe and Asia. Its key sourcing countries are China, India, Bangladesh and Turkey. Putting the manufacturing of garments into these countries creates jobs. These are often at better rates of pay than other types of work on offer, improving overall standards of living.
Primark has initiated a programme of activities which supports its corporate social responsibility (CSR) stance and ensures that its trading meets the company's values and ethical standards. Underpinning its programme of activities is Primark's Code of Conduct which ensures that all workers making its products are treated decently, paid a fair wage and work in good working conditions.