Sustainability in Global Business Assignment Example | Topics and Well Written Essays - 1750 words

Sustainability in Global Business - Assignment Example In global context a business should strive efficiently in order to meet triple bottom line. Sustainability can be achieved by global business if sustainability principles are incorporated in business decision making, environmental friendly goods are supplied by firms, traditional competition is managed more efficiently and business is highly committed towards environmental principles. This study shall focus on major challenges that would be faced by firm in nearby future. It would even encompass a sustainable innovation strategy which will help in providing competitive advantage and value in 2050 business scenario. Globalization has provided immense opportunities to many large organizations. Growing interconnectedness resulted from globalization that was highly reflected on flow of technology, information, services, people, goods and capital across the globe. Certain aspects of globalization will be altered in the coming years but revolution of information technology shall remain unaltered. The mega trend is expected to shape substantiality of a firm. Around the world developing and developed countries would benefit from world economy gains (Andersen, 2006). Fastest growing consumer markets would initiate growth of world class multinationals. Western countries are focusing on international economic dynamism. Adaptability and accessibility of advanced technology would increase by 2050. Vision for 2050 is to develop such business environment that can lessen the impact on environment (Bennett, 2006). Figure1 represents the population growth by 2050. Macroeconomic scenario encompasses numerical GD P projections, sectorial activity, population and household income. There are 22 sectors within EU member states. These sectors comprise of 10 energy intensive industries, 3 service sectors, 6 non intensive energy firms and energy supply and agriculture sector. Figure1 states the projection of