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Introduction

Business refers as engine behind development of society and growth of economy. Today, businessmen have a great influence on society, employment, governmental policies and politics as well. They conduct a business in order to improve living standard of people and maximize value for society (Muratovski, 2015). This report is based on analysis the approaches and challenges that companies should take for conducting business in ethical manner. This would help in giving more contribution towards sustainability of society. In this regard, Apple Inc. is taken to make a justification if this company is socially responsible or not. This American multinational technology- design, develop and sells electronic product, software, hardware and online services to customers. The present assignment is going to highlight weaknesses, approaches and challenges that may impact on future growth of this company. To hold this argument, some relevant models, internal and external examples etc. is being discussed in further part also.

1. Analysis

According to Garlord Nelson, “ The test of man's conscience reflect that his willingness to sacrifice something in present will aid to fulfill need of future generation”. In context with business organizations, in order to win competition from marketplace and and enhance growth of business, they offer products on low cost by sacrificing their profitability. It aids them to enhance base line of customers and get retention for long term sustainability.

From a view of 20thcentury, it has evaluated that today, main purpose of business organization is to maximize value for society and shareholders. For this purpose, enterprises produce high innovative products in order to satisfy desires of customers by concerning what they actually want. In emerging market of worldwide, thousand of companies are working with common motive i.e. to lift millions of human beings out of poverty. Therefore, they transform their business for upliftment of society and make investment for development as well rather than to increase sales volume. This type of transition is actually being driven by market-based activism and responsibility of companies in place of government regulation.

According to opinion of Oakley (2016), Apple Inc. which is one of the largest corporations, has made a large contribution in CSR (Corporate Social Responsibility). It includes promoting education, gender equality, women empowerment, healthcare and ensuring environmental sustainability. Under applicable items as per CSR requirement in Schedule VII, this multinational company provide disaster relief and financial assistance to reputable NGOs (Non-Governmental Organization). For example: Education to children of low income communities, this CSR activity has launched in beginning of May 2015. Under this program, Apple Inc. make collaboration with NGOs and through funding and proper resources, conduct these activities in appropriate manner (Rosenberg, 2015). It includes delivery of high quality education to poor children, addressing environmental issues and problems in local communities, enhance co-curriculum activities and more. For conducting these programs in ethical manner, this corporation is going to spend 2% of annually average net profit (Apple Corporate Social Responsibility (CSR),2018). Along with this, it also takes some major steps to ensure that any type of surpluses which are arise out from CSR activities will be set aside for further purpose. For monitoring such type of project and programs, Apple Inc. give responsibility a separately designated CSR committee which consists two board of directors. They oversee the whole process and under direction of them, other members associated with CSR programs prepare report. Further this report provides detail to relevant stakeholders so that they can review policies on periodic basis as well as update the same if necessary.

Role of Apple Inc. in society development

Illustration 1: Role of Apple Inc. in society development

(Role of Apple Inc. in society development, 2017)

Therefore, these type of activities reflect that in today's business environment, Apple Inc. performs its major responsibilities towards development of society. It has made a large investment in order to resolve issues at local communities and uplift standard of living of local people by installing electrification devices in rural areas.

2. Business approach of Apple Inc. in respect to sustainability

Sustainability approach refers to a development process which meets the present need of organization without compromising the future demand (Audretsch, 2014). In terms of business, it can be defined as managing three aspects of company that are- a process to manage social, environmental and financial risk; opportunities and obligations. Sustainability assist a firm to adhere business laws and policies with principles of sustainable development. Along with this, for industrial development to be sustainable, it is necessary for enterprises to address major issues like economical efficiency (prosperity, productivity and innovation), environmental accountability (biodiversity, climatic change, usage of resources) and social equity (human rights, poverty, community).

Today in modern world, more than 90% owners of companies state that sustainability is essential for success of business. To attain this success, they develop effective sustainable strategies, products and services as well as publish sustainability reports for stakeholders and public. For changing the way of conducting business, it is essential for a company to address the challenges related to environmental degradation. Market is considered as the most powerful institution on earth and business as an entity within it. Therefore, sustainability in business represents a market shift. Any changes in code of conducting a business will affect society and environment surround them (Veblen, 2017). So, it seems that sustainability is like business threat in which changes in market expectations and technological advancement, will arise opportunity for one company and challenges for others. For example: When a company apply sustainability pressure on business then it becomes an issue for risk management. Similarly, when financial institution apply the same then sustainability arise problems for capital acquisition.

In context with Apple Inc., it strive to serve products which are best from other telecom and software companies. The current business approach of this firm is its continual progress towards priorities of environment. For example- Powering all facilities of Apple with 100% renewable energy. It includes offices, data centres and retail stores etc. are all powered by clean and green energy. This company focuses more on reducing emission of greenhouse gases like Nitrous Oxide, Chlorofluorocarbons (CFCs), Hydrofluorocarbons and more, which contribute to exert pressure on climatic condition. Along with this, Apple Inc. making great progress in measuring and minimising carbon footprint in manufacturing process. For all these processes, this corporation makes investment on developing own solar, wind, water and biogas fuel projects. As per survey, from 2011 to till, this company has gained success to reduce emission of carbon gases and prevent earth from such harmful gases which consists near about 2.1 million metric tonnes of CO2. Moreover, in 2017 it also analysed that due to continual progression, this firm has got success in reducing approximate 590,000 metric tonnes of CO2 gas (Producing renewable energy to meet our own needs. 2018).

To create sustainability in business with development of environment and society, Apple Inc. design products of each generation as energy efficient as possible. As energy is used more in process of turning raw materials into finished products (Berry and Wilcox, 2018). It uses lower-carbon materials in manufacturing process and build a partnership with suppliers to help them in reducing amount of energy they use. Corporation of this company with its suppliers, help in transforming manufacturing process into dramatically reduce emissions of harmful gases. It includes process of finding ways to minimise consumption of energy like replacing inefficient cooling, heating and lightening system, recovering waste heat and recovering compressed air leaks. Along with this, to spur the procurement and development of renewable energy, efforts of Apple Inc. go beyond energy efficiencies. It invest in other projects also which are related to renewable energy for addressing upstream emissions. For this purpose, recently Apple has installed 485 Megawatt of solar and wind projects to help suppliers to develop their own project model. It helps in reducing consumption of energy and minimise carbon footprint from industries.

Reduction in Co2 gases

Illustration 2: Reduction in Co2 gases

(Source:Reduction in Co2 gases, 2018)

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