Sustainability and Innovation in Business Essay Example | Topics and Well Written Essays - 500 words

Sustainability and Innovation in Business - Essay Example In order to lead in the competition, the company needs to keep on innovating through sustainability (Nidumolu & Et. Al., â€Å"Why Sustainability Is Now The Key Driver Of Innovation†). Firstly, the company should comply with the specifications of the industry by abiding the governmental rules as well as regulations. The company needs to take heed of the emissions in their manufacturing plants and the usage of water. They should invest in new and advanced technological equipments in order to reduce the effect of their manufacturing activities on the environment. Ford needs to adopt measures to trim down the carbon emissions as well as cut down on the usage of water in order to conserve it with the introduction of advanced technological facilities. The company also needs to take care of its value chains in order to make them sustainable. Abiding by the regulations would assist the company to be environmentally conscious which would therefore make them take a notice on their resource consumption activities. They should take steps in order to trim down wastages and consumptions in their internal operations and in their workplace surroundings. After this a proper look should be provided in their arrangement of supply chain so that efficiency is escalated with the help of every individual association that forms a part of their supply chain. This would help the company to get familiar with advanced and new technologies which would pave the way for further innovation in terms of fresh product designs as well as in their business. This step would surely help them to attain sustainability (Ford, â€Å"Sustainability†; Nidumolu & Et. Al., â€Å"Why Sustainability Is Now The Key Driver Of Innovation†). The amplified emphasis on competence and freshly attained familiarity with technologies and expertise would help them to consider redesigning their offered products and take advantage of the increasing