Saturday, May 23, 2015

Sustainable Business Strategy

Over the last few decades the concept behind the opening and running a business has undergone numerous changes. Today, owning a business or a company comes along with several responsibilities such as environmental conservation, sustainable exploitation of energy and social responsibility. Sustainable business development has attained substantial recognition in Quebec and other neighboring regions. Even so, if sustainable development is to achieve its potential, business owners must integrate it with planning and adoption of strategies that meet the needs of the enterprise and its stakeholders. The following essay focuses on the sustainable development strategy in Quebec.

The enactment of the sustainable development act

Quebec City has been on the front line in establishing initiatives to encourage organizations to pursue sustainable practices in running their operations. The initiatives are aimed at integrating environmental economic and social concerns in the operation of a business regardless of its size. The passage of the sustainable development act was a major milestone towards achieving sustainable business development in Quebec. According to the government’s vision, Quebec intends to produce responsible, innovative society that is based on harmony between economic vitality, environmental quality, social equity and whose quality of life is and remains a reality. According to the sustainability act enacted in 2012, every government department, agency and enterprise must publicize its contribution to the 2011-2016 sustainability strategy.

Energy efficiency initiatives

Among other energy efficiency initiatives, hydro-Quebec is aiming at saving energy of up to 11 TW/h by 2015. This will be achieved through the establishment of a voltage regulation and reactive power control project to reduce power losses. Saving on electric power is one of the strategies that Quebec leadership has adopted as part of their sustainable development program.
Reducing emission of green house gasses

Quebec has adopted an environmental program aimed at reducing green house gasses emanating from vehicles and industries. The program of green house gas reduction is in line with Quebec energy strategy, climate change action plan and Quebec policy for eco-responsible government initiated in 2006 and 2013. Under this program the government targets the incorporation of fuel efficient, electric and hybrid vehicles along with community education on environmentally friendly driving habits. This will reduce the amount of green house gasses emitted into the atmosphere by a great extent.

Preserving and enhancing biodiversity in transmission and distribution

In the attempt to ensure continuity of service, vegetation in transmission and distribution line rights-of-way must be controlled. In response to this, various companies have joined in the initiative to promote bio-diversity in regions that are affected by the presence of transmission and distribution lines. Some of the initiatives put in place to increase biodiversity include protection of streams, onsite management of wood debris and preservation of wetlands.

 Implementation of Quebec’s policy for eco-responsible government

Policy for eco-responsible government targets the involvement of the government in various programs aimed at improving the environment. The government is involved in the collection of hazardous waste materials, metal recycling and reconditioning of power lines. In addition to these initiatives, the government has also implemented a project of analyzing products before purchase. Analysts test the safety of a certain product and give eco-responsibility specifications before purchase or importation of a product.

Question 2

There are a number of companies that have responded positively to the initiation of suitable business strategy in Quebec. Hydro-Quebec is one of the companies that have been on the fore front in the implementation of this project. During its existence the company has incorporated several principles of sustainable development in its business practices. Through the leadership of Thierry Vandal hydro-Quebec has not only achieved great success in its business operations, but has also seen the implementation of several projects under sustainable business strategy.

Question 3

There are a number of highly ranked sustainability practices that are practically evident in Canada. These practices are not an exclusive responsibility for the government or a few companies which are well endowed.  Instead, the practices have been adopted by all citizens of Canada regardless of their position in business or leadership.

Government involvement in the sustainability program is a remarkable achievement that Canada has made ahead of other regions. This is the main factor behind the success of the sustainability program since its implementation. The government leads its people by setting an example in implementing and taking part in the program.

Adoption of energy efficient systems is also a notable development that Canada has made in adopting sustainable development. These energy efficient programs have been adopted in companies as well as households in Canada. Canada has managed to save a considerable amount of energy and is still targeting and an increase in power efficiency.

Another significant sustainability practice is the enhancement of bio-diversity and protection of natural environment. This helps in preserving rare plant species and wild animals. Reducing the green house gases also plays a major role in protecting the environment. Conserving the environment is taken as a collective responsibility for every citizen living in Canada. This creates a safe environment for human beings animals and plants.

Reference list
Orlitzky,M.& Frank, L. S.& Sara L.(2003). Corporate Social and Financial Performance: A Meta-Analysis. Organizational Studies, 24(3): 403-441.
 Adam M.& Sabine, S. (2010) Doing good buffers against feeling bad: Prosocial impact compensates for negative task and self-evaluations. Organizational Behavior and Human Decision Processes, 111 pp.13-22.
Harrison& Robert A.P. (2010). Managing for stakeholders, stakeholder utility functions, and competitive advantage. Strategic Management Journal, 31:58-74.
Vinod, R.& Singhal& Ravi, S. (2010) An empirical investigation of environmental performance and the market value of the firm. Journal of Operations Management, 28: 430-441.
Clarke, A.(2012). Passing Go: Moving Beyond the Plan. Ottawa, ON: Federation of Canadian Municipalities 
MacDonald, A. (2012). Community collaboration for sustainability in Canada: Incentives and disincentives for partner organization engagement in collaborative community sustainability strategies (Unpublished Master’s Thesis). Waterloo, ON: University of Waterloo.

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