Assignment Sample on Global Strategy and Sustainability
Introduction
Triple bottom line model is primarily an accounting framework that mainly incorporates dimensions of performance. Therefore, it consists of financial, environmental as well as social. For instance, this model helps in improving aggregate conditions in company’s target market.
Evaluation profit aspect in the “Triple Bottom Line Model”
- Profit aspects assist in empowering communities as well as sustaining the entire community.
- A company can significantly obtain a “positive economic impact” when it makes an effective contribution to the entire local economy (Fathollahi-Fard et al. 2021).
- On another hand, this also helps in encouraging tourism helps in improving aggregate conditions in company’s target market.
TBL is primarily an “accounting framework” that assists in incorporating several dimensions of performance such as financial, environmental as well as social.
Evaluating people aspect of “Triple Bottom Line Model”
- From people aspect, this model assists in measuring impact of business primarily concerning human capital.
- Zara using this model has sole responsibility to customers and vendors (Correia, 2019).
- Therefore, in this model, people mainly refer to all stakeholders.
This model consists of employees as well as shareholders of an organisation.
Evaluating “Planet aspect of Triple Bottom Line”
- The 3Ps of sustainability mainly consist of planet, people as well as profit.
- Sustainability functions towards maximising as well as protecting the benefits 3Ps.
- Zara can significantly obtain a “positive economic impact” when it makes an effective contribution to the entire local economy.
The planet primarily in this model stands for certain responsibility that orgaisation mainly takes concerning environment.
CEO of Zara regarding sustainable development
- CEO of Zara along with both internal and external stakeholders has a higher amount of interest in sustainability.
- Internal stakeholders are employees and external stakeholders are government, shareholders as well as investors.
- CEO and company executive chairman “Pablo Isla” state that its renewable sources will significantly generate 795 of energy consumed by “conglomerate’s distribution” (ZARA, 2023).
Therefore, with its CSR strategies, company aims in enhancing the well-being as well as health of communities.
Recommendations
- For gaining a competitive advantage, company is required to design its code of conduct mainly for its suppliers as well as a manufacturer.
- Therefore, company is required to improve workplace environment to provide better conditions for its labour.
“Triple Bottom Line Model” Zara can significantly obtain a “positive economic impact” when it makes an effective contribution to the entire local economy.
Conclusion
Zara effectively cuts its advertisement costs. Therefore, the competitive advantage of Zara is all about offering a considerable number of available products. Zara can adopt a competitive advantage due to its rapid fashion strategy.
Reference list
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