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Puma sustainable competitive advantage
Human resource management
Employee motivation and retention
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Recommended: Puma sustainable competitive advantage
Introduction:
Sustainable development is often considered in terms of three main inter-linked dimensions: environmental, social, and economic. Nowadays, the quest for profit can never be the only objective of business. Combining multiple goals together three-dimensionally is a efficient way to business success (Follett. M, 2013). According to Puma’s target, it has made targets to become the most sustainable Sport Lifestyle company in the word (Puma annual report, 2012, p110). It has been pursuing its goals and shown its initiatives on sustainability in terms of social, environmental, economic during its business since 1993. Increasingly awareness on sustainability during customers is driving many companies to put sustainability on the center
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In the following part, strategies made to enhance Puma’s social capital and human capital will be evaluated.
Article wrote by Quelch and Jocz (2009) claims that with shared norms of mutual obligations and responsibilities, understanding of behaviors, and high levels of trust, social capital is generated when there is a strong social organization where people are connected through networks and webs of associations. The organization build by Puma includes all its stakeholders. Puma develops code of ethics to make sure its business partners who are Puma’s stakeholders and affiliated brands to comply with all the ethical standards, to become responsible and ethical individuals and to prescribe corporate behavior.
One of the stakeholder relationships that Puma cultivate with great care is that with its employees who are working for Puma worldwide. Companies have to ensure build a strong , fair and healthy society thought promoting personal well-being, meeting the various needs of all people in existing and future communities, and creating equal opportunity (Sustainable Development Commission). To ensure communities to thrive, employees have to be paid fairly and treated decently (Scott, B. 2011) . Puma states on its website that its code of conduct aims to make sure its employees who are working for its supply chain partners and all its directly contracted partner factories work in a
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Economists regard spending on training, education, healthy care as the most important investments in human capital (Becker, G). The raising capability on human capital is helpful for companies to increasing productivity, which is needed for a flourishing economy (Forum for the future). Puma offers a lot of programs such performance management for all employees, international leadership program for managers, Puma University-retail training program to encourage employees to fully realize their potential and strengthen the knowledge, skills, abilities and behavior (Puma Annual Report, 2013, p64). All these things can contribute to productive
To fully understand why social, economic, and cultural capital could lead to success or failure, it is essential to know the difference between the three. Social capital is defined by the Organization for Economic Co-Operation and Development as “the links, shared values, and understandings in society that enable individuals and groups to trust each other and to work together” (OECD, 2015). Social capital can be multiple things including family members, colleagues, and strangers who have the
Yvon Chouinard is an environmentalist, entrepreneur, and philanthropist, legendary climber, and surfer. He is also a writer, writing essays on outdoor climbing issues and ethics, and more recently publishing a book about mixing environmentalism and sound business practice in corporate policies (Green Economy Initiative, 2011). Chouinard is most noted for his clothing and gear company, Patagonia, Inc., where he has constructed a culture that strives to create an ideal working environment where employees thrive and become more productive at the same time. Patagonia’s environmental ethic is outstanding, having founded 1% For the Planet, an alliance of businesses that contribute at least 1 percent of their net annual sales to approved environmental organizations, and is working to revolutionize supply chain transparency in their company. Sustainable business practices have been at the core of the company since it was founded in the late 1950s – long before sustainability and being “green” became buzzwords. Yvon Chouinard is not only a successful business person, but a leader with discipline, vision, and influence.
Howard, J. & Gereluk, W. (2002) Core Labour Standards and Human Rights in the Workplace. International Institute for Environment and Development.
This paper critically analyzes Nike company sustainability strategy. Every investor or a group of investors wishes to see the business profitable at the current time as well as having good prospects for future (Werbach, 2009). For this reason, business sustainability strategy is very important. A strategy is a plan that guides the company or a business firm towards a certain direction or set goals. Thus, sustainability strategy is an action plan that a company set in order to maintain the plan toward the achievement of company’s goals in future. Sustainability strategy puts into consideration aspects such as the source of raw materials, competition, human resource development, and sustainability, and the general business environment. Thus, in evaluating a business’ sustainability, it is important to consider the business planning in this direction (Heslin and Ochoa 2008)
Is Puma Inc. an Ethical Company? Business ethics can simply be defined as the application of business values in the business practice of a company (Seawell 2010, p. 2). For a multinational company, business ethics is one of the critical aspects that need to be taken into account in business decision-making processes. Failure to pay attention to ethics may have consequences on a company’s reputation (Meyer & Jebe 2010, p. 159). The company is expected not only to pursue its own profits but also to contribute to the environmental and social welfare of the community where it operates (Svensson & Wood 2008, p. 308).
As mentioned above, senseless growth and corporate profit are not among Patagonia’s primary goals. Actually, Yvon Chouinard even considers it as “really bad”. He is comfortable with a 3-5% annual growth, a range that would make the company earn sufficient profit to continue its environmental actions. They, as a company, are aware that their business activity represents an environmental harm since it creates pollution. For this reason, they work steadily to reduce those harms trying to find solutions to this environmental crisis. Patagonia even partners with other corporations to reduce environmental issues. The company aims to create the circumstances under which humans and nature can occur in a productive harmony. For this reason, the primary objective of Patagonia can be identified in the desire to make the whole business sustainable by creating an elastic and free working environment, increasing employee’ satisfaction, having a good influence on the planet and, last but not least, making the best quality product for their customer. Quality is a keyword in their mission and describes a whole way of doing business. Quality is not only correlated with products but it also linked to customer satisfaction, workplace and stakeholders’ relationship. All this without being of harm for the
The company’s strongest impact and contribution to sustainability lies in the critical parts of their business which leads to the success and diversity of our associates (customers), food safety, health and nutrition, strong supply chain, environmental factors, and community/stakeholder engagement and impact of the people along with the CSR initiatives.
There is a link between corporate social responsibility and the key principles of the stakeholders, which a company should follow to be responsible to its stakeholders. The first stakeholder is environment and the key principle used for it is not damage the environment for example, recycling, dealing correctly with their wastes and emissions. The second stakeholder is the employees. The key principle for the employees is companies providing safe and health working conditions for their staff. Moreover, the employees earn an appropriate salary for ...
|1959: |Rudolf Dassler's wife and two sons become part owners of the Puma Sportschuhfabriken Rudolf Dassler KG. |
The aim of this report is to apply the theoretical and practical ideas of corporate reputation and corporate social responsibility presented in this course to the organizations in the same industry.
Sustainable operation management is a management approach that involves planning, implementation and control of business operations that translate available resources into the required product or service. It is the management of business practices, traditions and operations to promote the highest level of efficiency, smooth workflow, and increased productivity in an organization. This management strategy ensures that the available labour force and materials are changed into products or services in a cost effective way to increase the company’s returns (Corbett, 2009). It also involves production waste management, food waste reduction, creating new opportunities, environment protection, and improving customer health. Sustainable operation management in the retail industry around the world has gained momentum in the recent years, in the face of customer pressure and media interest. It is particularly linked to the concepts of corporate social responsibility and global warming (Morrison, 2013).
Sustainability is a concept with a diverse array of meanings and definitions – a widely used glamorous, ambiguous, ambivalent and vague concept that is used by different stakeholder groups in various ways. Presumably to avoid noodling over a terminology or to avoid the confrontation with a definition, most widely the concept is broken down a planning process (c.f. e.g. Döring & Muraca, 2010). That is why most common sustainability is understood as sustainable development.1
The Coca-Cola Company franchise is deeply committed to its brands’ advancement therefore, they have committed themselves to be leaders in corporate responsibility and they have expressed their ambition to be one of the world’s most respected and recognized companies in the world. I talked to my friend, Tasfiya Islam’s, father, who has been working with the company for 7 years to get some insight on the company’s activity and culture. He first told me when I asked about what makes the company tick that, in order to acquire respect, they have consistently maintained excellent standards for dignified and fair treatment for individuals that work in the company. For instance, Coca-Cola top management
The organisation should also display ethical behaviour towards its stakeholders which is important for building long-term relationships with its customers.
Sustainability simply defined to me as balancing act between the development of sustainability is necessary for both planet Earth and humans to survive. This is reinforced in the World Commission on Environment and Development report (1987) that sustainable development must meet the needs of the present without compromising the well-being of future generations”. The Earth Charter Organization widened the idea of sustainability to respect for a culture of peace, universal human rights, nature, and economic justice (What is sustainability?, n.d.).