Assignment Sample on MMW226465 International Management, Governance and Sustainability
Introduction
Due to the industrial revolution around the world, the business environment of every industry has significantly transformed the traditional ways of operating business practices. It has reinforced organizations around the world to strengthen their governance and sustainability practices to stay aligned with the emerging criteria of the market. Within this context, the current study has aimed to reflect on organizational sustainability and corporate governance over the UN global compact. Hence, the study has proposed Tesco Plc. in order shed much-needed light on the challenges that the international management environment experiences while doing business operations.
The thesis statement is “to evaluate the importance of the corporate governance and the sustainability practices of the firm to improve the organizational performance”.
Tesco Plc. is acknowledged as one of the leading and largest retail titans of consumers good from food and beverages to fashion in the world. It is a services-oriented business organization, which prioritizes the consumers and its people over profitability. Furthermore, it operates its business in several countries around the world with over 40, 0000 employees from different regions. Hence, the company has taken several initiatives aiming the serve the community in a sustainable and ethical manner.
Challenges in the international management environment
At the company level, ethical, sustainable, and corporate governance plays a central role in terms of staying aligned with the emerging criteria of the external environment of the business organization. Within this context, as suggested by RajeshandRajendran, (2020)http://MMW226465 International Management the process of ethical beliefs and morale that drives the individual and organizational behaviors are acknowledged to be business ethics. The following are some of the most important obstacles from the external environment, which potentially disintegrate the operational decisions of the international management environment.
Political factors
As suggested by Batistaand Francisco, (2018) http://MMW226465 International Managementinternational management includes the development of effective strategy, and initiatives by restructuring organizational design in order to manage the organizational human capital in cross-cultural management. Through these overall activities, the international management environment comes across various political barriers. In addition to this, the unique political considerations of the countries around the world either facilitate or hinder the international management environment of Tesco plc and other organizations. Here in this regard, the UN global compact is essential which deals with aligning the corporate strategies of the organizations around the world (Anazonwu et al. 2018).http://MMW226465 International Management As laws and orders vary in different countries across the world, therefore, the UN global compact is crucial to set the benchmark for the standards rules and regulations. For instance, Unilever has recently faced changes due to its illegal selling of ice cream in the Israel franchise. The company has, therefore, reflected on the policies to look into this matter. In addition to this, a Jewish-only license plate in order to mitigate the challenges, hence, the company like Tesco also needs to reflect on the policies and licensing of the different countries to mitigate issues. However, most organizations including Tesco Plc face challenges regarding Anti-corruption rules, Child labor, and many others.
Social factors
To this end, linguistic barriers are one of the leading barriers in the international management environment, which significantly interrupt the communication process with the employees, employers, consumers, and business partners (FransenandLeBaron, 2019).http://MMW226465 International Management On the contrary, cultural differences influence habits, behaviors, and many others within the global business environment.
Economic factors
As suggested by Naeemet al. (2022)http://MMW226465 International Management there are numerous factors associated with the economic development of international management. The factors associated with economic development include but are not limited to the unemployment rate, currency exchange, interest and inflation rate, trade policies, and many others. In addition to this, the allocation of the government budget is another issue that is profound in the international management environment and potentially interferes with the global operational decisions of the business enterprise.
Environmental factors
The external environmental factors in the global management environment are acknowledged as crucial in terms of attaining the sustainability and corporate governance practices of the organization. In recent times, the growing awareness of environmental issues has reinforced organizational corporate governance to reflect on sustainable practices (Awan et al. 2018).http://MMW226465 International Management Here in this regard, the continuous changes in the environmental issues have become one of the strong barriers to the global business management of Tesco plc.
The following are the environmental issues, which have reinforced the organizational leaders to reflect on environmental sustainability through corporate governance. The factors like temperature, weather, and climate change due to environmental pollution implicate the demand patterns of goods and services by global consumers (D’Souza et al. 2022 )http://MMW226465 International ManagementIn recent times, it has been estimated that the demand curve of goods and services is shifting towards more environment-friendly goods and services.
Ethical dilemmas in the global business
While talking about the global business environment, business organizations must reflect on ethical practices and legal issues in order to mitigate issues in the external and interbank business environment. In addition to this, in order to make the internationalization of the business concern a success, ethical dilemmas need to be taken into account (Berkowitz, 2018). http://MMW226465 International ManagementWithin this context, some of the growing ethical issues in the global management environment include working standards, outsourcing, child labor, and many others.
Here in this regard, at Tesco plc cultural consideration is one of the key driving forces, which has reinforced the organization to reflect on qualified professional who has in-depth market knowledge. It is to maintain that the theory of administrative management is performed in the organizational growth as the importance to plan and the procedure is to develop in accordance with the same fact. However, as suggested by Atan et al. (2018) http://MMW226465 International Management cultural barriers including, race, beliefs, and ethics have the potential to implicate the organizational culture.
Most of the time, gender issues become profound in organizations where women are not considered equal to men. However, within the organization, Tesco plc has integrated a vibrant work culture to mitigate gender biases in the workplace. Therefore, in order to sustain the emerging criteria of global business, organizations must comply with state safety and federal regulations. Administrative management theory is maintainable in the organization that helps to combat the situation at the end of the business activities. In addition to this, fiscal policies, environmental laws, and civil rights laws need to be taken into account to experience exponential success.
Different complex problems and contested issues
Tesco Plc. is a company that maintains sustainability as per its ability and this may continue to place them in a position that increases its potential (Tesco.com, 2022).http://MMW226465 International Management It is important to mention that the important part to increase the spreading of this sustainability practice may be determined in a manner to evaluate in a more strengthen way (Randles et al. 2022).http://MMW226465 International ManagementIt is argued that the UN global compact always helps organizations to increase their potentialities in accordance with the effect that performs in the maintenance of sustainable practices within the organization. It is mentioned that the problems with the sustainable practice for Tesco can be described in the following:
Zero-waste
It is to note that without a zero-waste sustainable policy, it is not possible to maintain the same in accordance with the effect that continues in the global context. However, it is important to note that zero-waste facilities are compulsory for each organization, especially for manufacturers (Chkanikova and Sroufe, 2021). http://MMW226465 International ManagementThe Systems management theory must be applied in accordance with the fact that controls the imagination of the management of the organization. The zero-waste can be controlled only after the systems management within the organization. It is argued that the UN global compact helps organizations determine the facilities to practice sustainably. However, it is also not possible for Tesco to decrease its carbon emission within a few years but the company ensures to maintain the sustainable practice by 2050.http://MMW226465 International Management,
Regenerative nature
The material threat of the society claims to improve the facilities by regenerating nature, which arises due to the loss of natural capital. As per the view of Carpenter (2020),http://MMW226465 International Management it is known that the ecosystem is regenerative and this maintains the importance to maintain the same by evaluating the balance of bio-diversity. Tesco maintains the same in accordance with the specific conditions that detects in the same and thus the UN standard is not according to perform the conditions.
Unilever has experienced challenges regarding middle rating in palm oil policy, which has been criticized for the environmental impacts as well. Here in this regard, the organization has taken several initiatives and sponsorship programs to mitigate these challenges. Additionally, the organizations have reflected on their supply chain management as well. Hence, Tesco also can take lessons from this organization to mitigate issues regarding environmental impacts.
Dematerialization
It is mentioned that the transition of the service-based economy from the product incentive maintains improved sustainable practices. The organization is to be maintained in the way that performs the evaluation of the same and this evaluates the interest of the organization (Rees et al. 2019) http://MMW226465 International Management. However, it is mentioned that the UN global compact argued the way to maintain the ownership interest of the organizations and Tesco determines to become more disrupted and widespread transport.
Recommendations to mitigate the challenges
The importance to identify the challenges is determined in a manner that helps in determining the effects to evaluate the strategies. Therefore, it is important to know the issues that are creating problems in the sustainable practice within the organization.
The challenges can be dealt with in accordance with the fact that helps in increasing the practices. Tesco maintains the same by identifying the above-mentioned challenges and in accordance with the regulations of the UN global compact, it is recommended to follow the alternatives that are mentioned below.
Net-zero Targets
In accordance with the regulations of the UN global compact, Tesco is determined to improve the facilities of the supermarkets, and the policies within the organization are evaluated. The company maintains sustainable practice by incorporating certain policies that help them to reduce the use of carbon emissions and net-zero practice is therefore incorporated within the organization (Unglobalcompact.org, 2021).http://MMW226465 International Management Systems management theory is applied in terms to mitigate the issue of zero-waste and controls the same in accordance with the organizational details. Cutting off the usage of plastics, renewable energy use, and a more sustainable diet are evaluated in the manner that the company may mitigate the zero-waste challenge within 2035.http://MMW226465 International Management,
Restoring nature
Tesco introduces sustainable farms that help the farmers to maintain their jobs as well the foods are more sustainable in the supermarkets. The importance to maintain the same is derived in accordance with the facts to evaluate the strategies and to restore nature in accordance with the effect to evaluate the natural resources (Wwf.org.uk, 2020).http://MMW226465 International Management It helps British farmers as well as the company to maintain sustainability. The company maintains the same in order to follow the regulations of the UN global compact and this continues to sustain the global market to a large extent.
Digitalisation effect
Digitalization is the affected shares that need to be evaluated in a manner to increase the possibilities and this may continue to be affected in accordance with the global impact. The world is evolving always and this may affect the sustainable process largely. As per the view of Carnerudet al. (2020),http://MMW226465 International Managementthe significance of the same is derived in the manner that excludes the possibilities within the organization to maintain the systems that the modern world is demanding.
Therefore, the UN global compact maintains the regulations that help in determining the process to reduce dematerialization. The importance to maintain the same is followed by Tesco and this helps in determining the facilities of reducing the effects of digitization within the organization.
Conclusion
Based on the above discussion, it is to determine that the sustainable practice within the organization is effective in accordance with the concept to evaluate the same. This study aims to reflect the same in accordance with the powers that maintain the sustainable process of evaluation.
It is to follow that Tesco Company maintains a sustainable practice in accordance with the regulations of the UN global compact. It maintains sustainable practices within the organizations and helps to evaluate the strategies. The part of the study concludes with the challenges and the alternatives by the learner in order to maintain sustainable practice in a more ethnicity. Therefore,
it is to state that the important part to evaluate the strategies is derived in a manner that incorporates the matters of sustainable practices. Hence, it can be estimated that the thesis statement of the study “the corporate governance and the sustainability practices of the firm to improve the organizational performance” has been critically evaluated.
Reference List
Anazonwu, H.O., Egbunike, F.C. and Gunardi, A., 2018. Corporate board diversity and sustainability reporting: A study of selected listed manufacturing firms in Nigeria. Indonesian Journal of Sustainability Accounting and Management, 2(1), pp.65-78.
Atan, R., Alam, M.M., Said, J. and Zamri, M., 2018. The impacts of environmental, social, and governance factors on firm performance: A panel study of Malaysian companies. Management of Environmental Quality: An International Journal.
Awan, U., Kraslawski, A. and Huiskonen, J., 2018. Governing interfirm relationships for social sustainability: the relationship between governance mechanisms, sustainable collaboration, and cultural intelligence. Sustainability, 10(12), p.4473.
Batista, A.A.D.S. and Francisco, A.C.D., 2018. Organizational sustainability practices: A study of the firms listed by the Corporate Sustainability Index. Sustainability, 10(1), p.226.
Berkowitz, H., 2018. Meta-organizing firms’ capabilities for sustainable innovation: A conceptual framework. Journal of Cleaner Production, 175, pp.420-430.
Carnerud, D., Mårtensson, A., Ahlin, K. and Slumpi, T.P., 2020. On the inclusion of sustainability and digitalization in quality management–an overview from past to present. Total Quality Management & Business Excellence, pp.1-23.
Carpenter, J., 2020.Decision‐making in regeneration practice.Architectural Regeneration, pp.47-60.
Chkanikova, O. and Sroufe, R., 2021. Third-party sustainability certifications in food retailing: Certification design from a sustainable supply chain management perspective. Journal of Cleaner Production, 282, p.124344.
D’Souza, C., McCormack, S., Taghian, M., Chu, M.T., Mort, G.S. and Ahmed, T., 2020.An empirical examination of sustainability for multinational firms in China: Implications for cleaner production. Journal of cleaner production, 242, p.118446.
Fransen, L. and LeBaron, G., 2019. Big audit firms as regulatory intermediaries in transnational labor governance. Regulation & Governance, 13(2), pp.260-279.
Naeem, M.A., Karim, S., Nor, S.M. and Ismail, R., 2022. Sustainable corporate governance and gender diversity on corporate boards: evidence from COVID-19. Economic Research-EkonomskaIstraživanja, pp.1-19.
Rajesh, R. and Rajendran, C., 2020. Relating environmental, social, and governance scores and sustainability performances of firms: An empirical analysis. Business Strategy and the Environment, 29(3), pp.1247-1267.
Randles, S., Dewick, P., Hannan, E., Nicholson, D.T., Rietbergen, M., Taylor, C., Vargas, V.R., Wadham, H. and Keeler, L.W., 2022. Applying inquiry and problem-baseduni learning to mission-oriented innovation policy: from policy to pedagogy to teaching and learning practice. Journal of International Education in Business.
Rees, W., Tremma, O. and Manning, L., 2019. Sustainability cues on packaging: The influence of recognition on purchasing behavior. Journal of Cleaner Production, 235, pp.841-853.
Websites
Tesco.com, 2022, About Us, Available at: https://www.tesco.com/ [Accessed on: 27th April 2022]
Unglobalcompact.org, 2021, Social Sustainability, Available at: https://www.unglobalcompact.org/what-is-gc/our-work/social [Accessed on: 27th April 2022]
Wwf.org.uk, 2020, THREE WAYS WE’RE FIGHTING FOR YOUR WORLD WITH TESCO, Available at: https://www.wwf.org.uk/updates/three-ways-were-fighting-your-world-tesco [Accessed on: 27th April 2022]
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