Programme Name:

Student’s ID
Student’s Name Kuziev Khudoyor Gafurovich
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Module name EBS
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Date of submission 05 Dec 2022
Submission deadline 05 Dec 2022
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INTRODUCTION

We must learn by doing rather than just thinking. This year's challenges were framed as
innovation design challenges—challenges with intended results. In the next years, NBS will
establish micro-communities of scholars and practitioners to address sustainability issues
such as those addressed in this paper. We welcome you to utilize this report as a beginning
point for internal discussion inside your business, and we hope you will join us on this
journey.
2016's Top 7 Sustainability Challenges

1. Climate Change and Public Policy

Climate change is the greatest serious threat to present and future generations. It has an
impact on every part of our economy, society, and environment. Canadian businesses must
play a larger role in decarbonizing the economy and increasing resilience to climate effects.
(Leaders, 2016)

Working Together for Sustainability

Most sustainability concerns need systemic change, and systemic change necessitates
stakeholder participation. To address sustainability issues, businesses must speak with one
voice with rivals and other stakeholders. (Leaders, 2016)

Aboriginal Rights Must Be Respected

Canadian enterprises, non-governmental organizations (NGOs), governments, and society

require collaborative methods and institutional frameworks to guarantee that Aboriginal
people in Canada are actively, freely, and thoroughly involved in managing natural resources
that influence their territories. (Leaders, 2016)

Sustainability Measuring and Reporting

Because of the development of sustainability rankings and reporting requirements, firms must
understand how to streamline reporting in order to decrease redundancy, fix anomalies, and
make a beneficial effect... (Leaders, 2016)

Sustaining Sustainability Initiatives

Despite the fact that many individuals refer to the Brundtland report for a definition of
sustainability, there remains an inadequate and uneven understanding of what sustainability
means in business. Sustainability must be an integral aspect of all corporate activity.
(Leaders, 2016)

Consumer Education

Sales of environmentally friendly, socially responsible products and services do not represent
the time and effort put into their creation. Businesses must learn how to assess, classify, and
advertise sustainable products and services in order to avoid greenwashing and instead
positively impact consumer behavior. (Leaders, 2016)

Developing a Long-Term Perspective

Long-term action is becoming increasingly difficult due to volatile financial markets,

uncertain consumer purchasing habits, shifting trade agreements, and contradictory state
policies. Businesses must find a method to balance short-term and long-term goals. (Leaders,
2016)

Corporates are experiencing pressure from society to reduce the environmental implications
of their operations. When one company declares that it will be carbon-neutral by 2040,
another declares that it will be carbon-negative by 2030, and so on.

However, all of these lofty declarations must be turned into concrete action plans. Country
directors, brand managers, and product leaders are already looking for ways to make progress
in the next year or two. Where do I begin? Production energy consumption? Reduced waste?
Is the product being redesigned?

While many people think that something can be done in the short term, the present global
economic crisis makes it plain to everyone that decisions must be taken. Time and resources
are both limited. (board of innovation, 2022)

Battlegrounds: improved packing and reduced energy use

Single-use packaging is a particular source of concern. Many areas are requiring businesses
to transition to more sustainable, eco-friendly alternatives: even if "sustainability" is not a
main element in a company's strategy, businesses must address this specific issue.

However, packaging redesigns may be a big growth opportunity for a company. The world
has changed. Products supplied and sold through new eCommerce platforms do not require
the same anti-theft and POS-branded packaging as in the past. Because the requirements for
these items are changing, now is an excellent time to take the leap and create a superior
solution. (Leaders, 2016)

Set and track key performance indicators for sustainability.

It helps to know where you are and where you want to go in order to make progress. Setting
practical KPIs for everyday operations, on the other hand, might be difficult. Measuring this
form of KPI is somewhat new for many managers. As a result, there is an obvious need for
direction and examples from other businesses in order to learn what works and what does not.

Scrapping other KPIs is also important in a strategic exercise like this: company is still driven
by people, and these people need clear aims to pursue. Adding new targets is never a
solution; you must determine which of the existing goals to deprioritize.

Portfolio assessment for sustainability

Over the recent decade, some major corporations have taken important efforts toward
sustainability. A number of initiatives have been started, and they have not always been as
consistent as they should be. As a result, several businesses have realized that in order to
improve their sustainability portfolio strategy, they must begin harmonizing their activities.

This can be part of a governance plan exercise (for example, who is responsible for what,
how to communicate, or how to make financial decisions). Sometimes, however, it is just a
question of aligning all sustainability-related activities and goals for each project and
individual. Initiatives that do not match these criteria will need to evolve or be abandoned.

Sustainability is also at the heart of major financial stimulus programs proposed by

governments to aid in the recovery of economies. For example, the European Commission's
€750 billion corona recovery package relates to major subjects of the European Green Deal
and expands on many of its policies encouraging carbon neutrality, circular economy, and
sustainable financing.

On a national level, several stimulus packages prioritize sustainability and climate protection.
The German government has announced a corona recovery package of €50 billion 2) to
develop innovations like as digitalization in conjunction with climate-friendly technologies
such as hydrogen and e-mobility infrastructure, as well as low-carbon buildings. The
American Recovery and Reinvestment Act, which includes $90 billion in sustainable
investment, demonstrates that sustainable measures and economic recovery do not have to be
mutually contradictory. In China, the "new infrastructure development plan" 3) encourages
massive investments in sustainable infrastructure addressing electric transportation and
renewable energy. These advances provide substantial impetus for long-term transformation,
forcing firms to assess the impact on their present and future growth.

Because of the current global economic scenario, the dynamism and complexity of change
are overwhelming. Companies must redefine their strategic viewpoints while also
establishing effective management structures and methods to simplify and channel corporate
sustainability commitment into clear KPIs, actual action, and quantitative results. Planetary
Boundaries concepts are important because they capture a more holistic picture of present
and future factors, as well as their interconnections and implications on a specific
organization. (Nadia Reckmann, 29 june 2022)

Companies must place sustainability at the core of their business model and examine its
future viability in order to capitalize on opportunities and successfully manage risks. This
appears to be widely recognized in the business sector, as evidenced by Ramboll's recent
research Managing Sustainability, in which 95% of the organizations polled agreed that
sustainability is an essential aspect in long-term company success. The important problem,
however, is to identify trends that will have a significant impact on present and future growth
and to establish a clear strategic direction.

It is apparent that each company's capacity for effecting sustainable transition differs and is
dependent on its own organizational capabilities and restrictions. (CONGRESS, 2020)

Facilitating corporate sustainability transition Companies must take specific action after the
risks and possibilities of long-term transformation have been identified via strategic
reframing. This procedure may be divided into four steps.

On an operational level, businesses may employ a variety of techniques to methodically

translate strategy into tangible action. However, various techniques in areas such as circular
economy, sustainable supply chains, and sustainability performance monitoring have evolved
in recent years. Furthermore, the digitization of management processes has resulted in the
development of new tools and apps, notably in the field of sustainability data collection and
administration. It is not always simple to select the appropriate instrument.

As a first step, a rising number of organizations mix financial and non-financial reporting (6).
A prerequisite for this is that decision-makers establish an awareness of the business case for
sustainability, which can then be used while moving forward on the transition road to
sustainability. (board of innovation, 2022)

Summary Businesses must see sustainability as a critical driver of fundamental societal and
economic development. However, in order to assure survival and growth in a more
competitive and responsible operating environment, a change from viewing it primarily as a
business risk to early identification of chances for innovation and development is required.
Many businesses currently have sustainability as a management role, and with effective
platforms for change and expertise readily available, they are well-prepared to face these
problems.
REFERENCES
CONGRESS, L. O., 2020. RESOURCE GUIDE , б.м.: б.н.

INTRODUCING TO BUSINESS, 2022. Corporation, б.м.: б.н.

Nadia Reckmann, 29 june 2022. Business News Daily Writer, б.м.: б.н.

Leaders, 2016. NETWORK FOR BUSINESS sustainability , б.м.: NBS.

board of innovation, 2022. board of innovation, italy: б.н.