Assignment c (Aston Martin)
The concept of sustainability is associated with the social science concept, which is integrated with civic engineering processes and environmental sciences. These are important for successfully organising the business conduct, and in adopting the better technology that is required for handling the operational based requirements. Organisations adopt sustainability plan for protecting the environment, economical and human health of the people and integrating it with the innovative strategies and measures.
Corporate social responsibilities are an integral part of the sustainability plan that is developed and implemented by the management. CSR strategies are developed and accurately introduced so as to improve the internal work conditions and to provide maximum benefits to the internal and external stakeholders of the company (Javed et al., 2016).
Aston Martin has adopted the best strategies to introduce the CSR processes where the management has highly focused on protecting the environment and the people. These changes have impacted the financial performances, where a part of the profit or revenue is used for increasing the business conduct.
The financial performances of the company has been impacted due to the CSR process, however it has positively boosted the goodwill for the organization. A part of the profit is allocated towards the improvement of the community and the people and this attributes towards the growth of the company.
Aston Martin is one of the worlds leading engine manufacturing companies that highly operate in the UK. The company has highly valued the triple bottom line factor of economic, social, and environmental aspects that forms the most important part of the CSR strategies. In the social aspects, the company plans to generate employment for the people and returns a part of the earnings back to the community.
The objective is to benefit the social factors, which is the key aspect that is enquired for effectively conducting the operational works. Economic aspects are related with the adoption of the advanced technology for carrying out the operational works. They are needed for properly organising the business conduct and in overcoming the challenges that directly and indirectly impacts the operational works.
In the environmental aspect, the company adopts the better strategies for reducing the production based wastages and in increasing the quality of the tasks (MacKinnon et al., 2002).
Aston Martin is a leading engine manufacturing companies that sells the better valued services to the clients. In the corporate governance system, the company concentrates on taking care of the social, economic, and environmental factors that aims to benefit the company, people, and others associated with the organisation.
In the social aspects, the educational facilities for the poor people and in improving the community living are improved. Economic aspects are related with the establishment of a proper and strong relationship with the clients, suppliers, and others related with the company either directly or indirectly. A strategic product production planning process is adopted to reduce the wastages of the products and improve the quality of the machines that are manufactured for the clients.
The CSR policies are exclusively designed and it is implemented for the welfares of the company and the clients associated with the same. A part of the profit margin is allocated to the welfare of the community and to adopt the new technology as it would be useful in handling the requirements of the internal and external clients (Steiner, 2008).
The CSR objective for Aston Martin is to provide maximum benefits to the community and the people. For this, the benefits to be provided to the community and the people are exclusively designed and it is implemented by the management. The decisions are drafted to reduce the product based wastages that highly affects the business activities and the future goals that are decided by the management.
The CSR processes are outlined and it is discussed with the people, as this would be able to communicate the overall business based requirements and the strategies that would be needed for effectively conducting the tasks in the right manner. Here the strategic changes are properly introduced and the related issues are properly and accurately handled by the management.
The CSR strategies were properly and accurately included in the decision-making process as this helps in meeting the needs and preferences of the internal and external investors.
Business decisions about adapting the better means and processes for conducting the operational activities are exclusory included in the planning process this assists in adopting the better means and processes that would be used for increasing the value of the production process and in overcoming the challenges that directly affects the business conduct. Here the strategic management planning process and strategies are accurately adopted and it is implemented in getting the better results.
The decisions are made after considering the long and short term goals that are associated with the business improvement and in the task achievement (Xiong, et al., 2016).
For this, the management plans to properly and accurately use the available resources and allocate a part of the profit for maximising the profit margin. The decisions made for the accomplishment of the business goals are then discussed with the internal and external stakeholders that are quite important for the accomplishment of the business based goals and objectives.
The financial performances are examined as this would be useful in examining how the financial tasks are undertaken by the management, and the relevant changes are implemented. Sales for the company since 2017 had drastically increased, and this indicated that the production capacity of the company had improved.
In the year 2017 the total sales was 876, and this increased to 1096.50 and then decreased to 997.30 in 2018 and 2019 respectively. However the expenses for these years had also increased, thus relate that the management had increased on the debts and other expenses to positively conduct the operations. The operating profit reported was 124.50 in 2017 and this increased to 126.9 in 2018 and reduced to 24.40 in 2019.
This analysis stated that the income and the expenses for the company had highly fluctuated and this was due to the variations in the sales that were done by the management.
The balance sheet for the company stated that the total current assets for the company for 2017 was 1632.10, and this increased to 1970.2 in 2018 and then in 2019 it was 2231.10. Despite of the reduction of the income, the management had drastically increased the spending towards the asset value and this reflected that the company had focused on improving the production process and the performances.
With an increase in the total asset value, the performances of the company to successfully meet the operational goals and to successfully conduct the operations were planned and it was accurately implemented. Current liabilities for these three years had also increased, and this reflected that the company had properly planned for the asset procurement and had incurred the expenses that were presented in the form of liabilities.
The analysis stated that the overall performances of the company was planned and moderate, thus reflecting that the operational works were effectively conducted in an organise manner. The quick ratio for these years had also decreased that indicated that the company had favourably improved the performances, as the loans and other debts were politely and accurately paid off by the leaders.
This indicated that the management had successfully planned and expected the tasks where the loans were paid off and the assets were increased. This was an important part of the planning activity (Hull, Rothenberg, 2008).
The management had successfully retained the financial position in the market, and this reflected that the long and the short term business goals were positively planned and implemented. This enabled the leaders to pay off the debts and then maintain the financial position, which was the key need for improving the overall performances and in successfully maintaining the funds.
From the above analysis it could be stated that the management focused on retaining the market position and in controlling the fund flow. This was the important factor that highlights how the business plans for the task conduct and in getting the expected results. At the time of planning for the CSR process and policies, the fund allocation and its benefits to the company and the investors are determined.
This helps in increasing the goodwill and the performance ability of the organisation. A strategic change is designed and it is implemented by the management so that the best CSR processes could be drafted and introduced by the company.
The policies for CSR could be improved by allocating more funds to the CSR process, and this would improve the goodwill for the organisation. A planned approach is needed as this would be useful in provide the best value to the community and n using the resources in the right way.
It is recommended that a determined portion of the profit is allocated to the development of the CSR process that will increase the standing of the company in different markets.
The CSR strategies are quite important for the companies as it enables the leads to do the best. It is necessary for adopting the right procedure that would be useful in providing the right help to the commit and in retaining the clients and undertake the necessary steps and measures that would help in earning goodwill for the company.
There are different aspects that are supplied to be included at the time of planning for the CSR implicational and they are equally important and cannot be ignored. The tripe bottom factors are equally essential as it would be useful in planning the tasks to be done and in getting the expected outcome.
Hull, C.E.; Rothenberg, S. (208). Firm performance: The interactions of corporate social performance with innovation and industry differentiation. Strateg. Manag. J. 2008, 29, 781–789
Javed, M.; Rashid, M.A.; Hussain, G., (2016). When does it pays to be good—A contingency perspective on corporate social and financial performance: Would it work? J. Clean. Prod. 2016, 133, 1062–1073
MacKinnon, D.P.; Lockwood, C.M.; Hoffman, J.M.; West, S.G.;(2002) Sheets, V. A comparison of methods to test mediation and other intervening variable effects. Psychol. Methods 2002, 7, 83–104
Steiner, G., (2008). Supporting sustainable innovation through stakeholder management: A systems view. Int. J. Innov. Learn. 2008, 5, 595–616.
Xiong, B.; Lu, W.; Skitmore, M.; Chau, K.W.; Ye, M. , (2016). Virtuous nexus between corporate social performance: A study of construction enterprises in China. J. Clean. Prod. 2016, 129, 223–233