Sustainable Business Planning & Strategy

Question: Discuss about the Sustainable Business Planning Strategy. Answer: Introduction The study focuses on the evaluation of the different features of the monitoring systems and their criteria regarding effective efficient indicators. The indicators of the effective monitoring system in the sustainability dimension are explained in the assignment. The paper will focus on the dunphy phase where they can elevate themselves to a certain extent. The company chosen for the study is Sizzler restaurant of Australia. It can be said that the major characteristics of the effective monitoring systems are essential for Sizzler while implementing those in the process of maintaining effective process of sustainability. It will help Sizzler restaurant to prevent unavoidable circumstances that may lead to adverse consequences. However, in order to receive a success in the using the effective monitoring system, the organization must have to maintain a track record of the sustainable approaches as well as the each activities that are assigned against the different activities of the monitoring systems and sustainable measures of dimensions (Higgins-Desbiolles, Moskwa Gifford, 2014). There are four types monitoring systems that will be described along with its specific characteristics. It will help Sizzler restaurant of Australia for implementation of the appropriate forms of monitoring systems. The particular roles of the monitoring systems are discussed in the form of tables. Types of monitoring system Characteristics Process Monitoring This process recognizes the specific factors that accounts for the development of the specific activities that are designed for measuring the proper forms of output in the production. Financial and physical monitoring These processes of monitoring usually make measurements regarding the progress rate of various activities of a specific project against the predefined schemes of success and indicators (Hall Gossling Scott, 2015). Project in sustainability monitoring This type of monitoring is assigned while monitoring the required models of different corporate social responsibilities. Impact monitoring Impact monitoring is used by organizations while measuring different reactions and actions related to the activities of the projects while initializing the short term effects of the different patterns of dimensions (Sacks et al., 2015). Several significances of the monitoring system have to be kept in mind while implementing them in the practical scenario. The significances are reduction of different risk factors in the projects, development of a management system that is professional and systematic in nature, and analysing the implementation of the processes. The efficient indicators have different sets of characteristics that can be categorized into few segments such as simple, aligned, relevant, achievable, measurable, and visible. They are described in the following. Simple- The indicators must be simple in nature when they are using the different types of activities in a particular project. Relevant- Effective indicator must maintain their relevance while the designed activities and the tools of management are used without any problem (Rauscher Momtaz, 2015). Aligned- The existing literature of an effective indicator suggests that there must be an alignment of the different types of indicators with the projects. Visible- The effectiveness of the monitors must be visible clearly. Measurable- Measurement of the effectiveness of the project is an important aspect for the usage of it in the organization. Achievable- An indicator can be called as effective when the goals related to it are achievable by the managers associated with it. Timely- Indicators must illustrate their result in a timely manner so that the management of the organization use it effectively (Osmond, Chen Pearce, 2015). Enterprise Sizzler is a popular restaurant of Australia that is famous for introduction of the Pasta, salad, soup, dessert bar and fresh fruit concept since from the year of 1958. The company is famous for its innovative menus that are considered as mouth watering to the Aussies. Hence, the company has witnessed rapid expansion in the seventies due to its popularity. The restaurant has innovated a new concept of service provided to the customers. From the concept of self serve it has changed to sizzler service that consists of best services from service to the customer and self service. The restaurant has total 21 restaurant chains not only in Australia but also across different parts of Australian countries (Montalbo, 2015). Sizzler supports Australian business as much as possible. The goal of the company is to utilize Australian products in a cost effective manner so that they can purchase almost 95% of the products from the country itself. The suppliers of the company belong from the Australian subcontinent such as Kallis Brothers supply sea foods to Sizzlers. Wacol supply the preparations for sauces and soups. The main distributor of Sizzlers is Americold Logistics. Apart from that, the company is involved into many sustainable approaches while supporting charities of Australia (Turcu, 2013). The company is focused into different types of approaches for sustainable development of the strategies of the company so that it can help in creating a positive brand image in the target market among the minds of the consumers not only in Australia but also in the Asian countries. Sustainability Dimension Sustainability approaches are the processes that are adopted by different companies across the world. The sustainability goal of Sizzler Restaurant of Australia is to reduce the amount of negative environmental impact by reduction in carbon emission and waste from the manufacturing sites. There are three dimensions of sustainability, which Sizzler Restaurant of Australia will follow while formulating strategies towards the community and the formulation of organizational values. The three dimensions of sustainability approaches are environmental, economic and socio-cultural aspects (Rinne et al., 2013). Every company has a particular aim while developing strategies that are sustainable in nature. Based on these aspects, Sizzler restaurant of Australia will also follow these dimensions. Socio-cultural dimension- In terms of social dimension, Sizzler restaurants must focus on the taste and preference of the customers present in the target market. The element of socio culture is related to the demographic aspects of the country. Socio cultural dimension of sustainability must include customers and community in the strategies. The existing literatures have illustrated the fact that inclusion of external stakeholders results in formulation of improved strategies that attains sustainability in a different perspective (Waas et al., 2014). Sizzler Restaurant of Australia always innovate their menus as per the taste preferences of the Asian and Australian customers along with offering amazing deals and offers. It also includes the cultural competence of the employees in the organizational context. Economic dimension- Different research about economic aspect of dimension illustrated the fact that the economic aspect of the operating country and the company both should be kept in mind so that the sustainable approaches must be fruitful in terms of results. The company must be cost effective in the long run while maintaining economies of scale and lower cost in the production (Breakey et al., 2014). To maintain the cost of production, Sizzler recruits people from Australia itself. There are some goals that Sizzler must focus, such as green opportunities, green marketing strategies, green packaging, etc (Midilli Kucuk, 2014). Investment in the field of innovative sustainable approaches such as in eco-smart development is considered as an important aspect in the sustainable approaches of the company. Environmental dimension- Environmental dimension is one of the most important dimensions on formulating sustainable strategies in every operation of the businesses. Sizzler Restaurant of Australia is trying to reduce their carbon emission by implementing procedures of carbon footprint. The different types of approaches of using non-renewable sources of energy in the process of operations especially in the manufacturing units are considered as sustainable approaches. Considering the aspects of different types of environmental degradation, strategies will be formulated by Sizzler Restaurant so that customers can get a clear idea about the different types of activities done by the company for the community development (Cheng et al., 2014). List and Assessment of Indicators for monitoring The sustainability dimensions of Sizzler Restaurant of Australia are described in the above. There list of assessment of indicators for monitoring the sustainable approaches of the company are described in the following based on the three dimensions of sustainability described above. Social Sustainability Indicators Name of Indicators Definition Measurement Process Limitations Satisfied customers A vital indicator that will help Sizzler Restaurant of Australia in formulating customer centric strategies. It can be measured with the different loyalty programs, customer satisfaction survey, etc. All preferences of customers cannot be included in the sustainable approaches of the restaurant (Pissourios, 2013). Community engagement activities Community is engaged as a whole so that strategies are successful. Effectiveness of the total number of outcomes will imply the success of the strategies. Lesser number of indicators represents the weakness of the indicator (Kumar Katoch, 2014). Environmental Sustainability Name of Indicators Definition Measurement Process Limitations Carbon emission It is the vital aspect of environmental sustainability that will lead to diminish the level of carbon content. The amount of carbon emitted by the company can be measured by using scientific devices. Rate of high carbon emission will violate the environmental protection acts (Strezov, Evans Evans, 2013). Loss of waste materials Energy and other wastes pollutes the environment. It must be controlled. Different types of instruments are available that can measure the amount of industrial wastes. There is no such limitations (Marques et al., 2013). Economic Sustainability Name of Indicators Definition Measurement Process Limitations Efficiency of business The indicator that is used in the financial stability of the company. It implies how much the company will be successful in implementing new strategies for sustainable development (Marzo-Navarro, Pedraja-Iglesias Vinzn, 2015). An efficiency of a business can be measured by various financial indicators. Limitations are there related to the investment of the company in the formation of strategies of sustainability. Financial implications The financial indicators and other risk indicators are identified along with other aspects of sustainability. The GRI Risk indicators are used in different parts of sustainability. Policy practices and other infrastructure investments are related to the financial implications. The limitations of the financial indicators are limited on the opportunities provided by the government. Development Plan The developmental plan will be formulated on the basis of the assessment indicators to the above mentioned sustainability dimensions. A developmental plan is necessary for monitoring the progress of the sustainable approaches of Sizzler Restaurant of Australia. The plan is described in the following. Formulating a decision making section Actions- The names of the significant authorities are enlisted for the decision making process of the company. Time- The action will be accomplished within three months of time. Involved person- Senior management of the company are involved in the above mentioned activities (Lodhia Martin, 2014). Developing team for monitoring energy consumption Actions- Hiring new individuals for the formulation of specific objectives in the sustainable strategies for using renewable sources of energy. Time- Within two months of time, the particular task will be accomplished. Involved authority- Particularly, the individuals of human resource department and the strategic management department (Dale et al., 2015). Developing team doing market research about sustainable approaches Actions- Hiring market research experts for conducting a particular research about formulation of new strategies related to sustainability. Time- Six months will be required for conducting a research on particular sustainable strategies. Involved Persons- Individuals from strategic management department of the company will be done along with other external persons (Mori Yamashita, 2015). Conclusion The study focuses on the sustainable approaches adopted by the Sizzler Restaurant of Australia. It is mentioned in the study that there are many sustainable approaches that the company must put emphasis in order to evaluate their performances. Performance indicators along with its effectiveness are also described in details along with the characteristics of each indicator. Apart from that, the sustainable dimensions used by the company are described in details so that they can implement the proper forms of strategies. The list of assessment indicators are mentioned so that Sizzler Restaurants of Australia can effectively use the sustainable strategies proposed by the operational department of the company. Sustainability is a concept that is popular among all the companies of the world in order to create a positive brand image in the market. The approaches of sustainability are also used as marketing strategies in order to create a good perception of the brand in the target markets. B y considering the following requirements, a developmental plan for Sizzler Restaurant Australia helps in accomplishing the organizational goals and objectives of the company regarding global sustainability. 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