Respond to 100 or more words onthe following 3 forums on(Examine how standards can help with balancing strategic priorities and incorporating sustainability). Responses should be a minimum of 100 words and include direct questions.
1. Standards are important because they create a routine. In any organization, a standard is important because it gets employees used to delivering a good or service that enables a company to be profitable for the future. Standards can also give managers a gauge on what they should implement. What this looks like is an analysis of training needs, marketing strategies, targeted sector penetration, future returns on investment, and delivery systems etc. These questions can have a lasting impact on the viability of the company and determine the levels of success an organization can have in any sector. One of the most important strategic priorities a company has to consider to increase profit is reducing its operational cost. Companies can save a fortune by analyzing their operation cost. These costs can seem like they are fixed in a many of ways, but the variety of price could be altered based on researching alternative methods of energy, transportation, storage, or disposal. This research could produce an overall saving for any organization. Standards could also play a huge role in the discovery of innovative resources that make the company more profitable through financial savings or the addition of a new good or service. Innovation is a move toward future gains and strategic positioning. A company could leverage innovation to position itself to gain market share or even create a niche market which entices additional consumers to participate in the market. Another strategic priority which ties directly to sustainability is the increase of brand recognition. An example of positive brand recognition is the Coke Company. Even in my travels overseas, I see foreign Coke product sales, as a result of the famous commercials and the distinctive red can packaging. The Coke company is a global brand as a result of its strategic positioning for several decades. In saying that, I feel like it is important to align the companys strategy with its overall goal of sustaining profitable market share for the future.
2. In any business, it is essential to have balance in all areas of emphases; otherwise, there will be an area that receives more attention due to the issues that are not being expected/appropriately projected. One thing is for sure every mistake, no matter how small, costs the logistic industry money; that?s why it is essential to have contingency plans in place and regulations to help guide necessary decisions. Standards are the guidelines that are established to aid the industry in getting to the desired outcome as well as the blueprint for all other regulatory influences. What I mean by that is there may be entities that have stipulations that need to be followed even though they do not directly influence the process. A business may be primarily focused on the mission, finance, customer care, internal and operational operation, and the employees. However, they still need to have in mind the safety regulations, local laws, education/ skill requirements, etc.. This is why sustainability feeds into every aspect of a business. No one can ever actually pursue the goal of a sustainable business without integrating sustainability into the fabric of the organization?s strategic direction. Sustainability is recognized as being more than an initiative, a program, or an activity; it is known as a new worldview or mindset regarding how a business operates, ensuring the establishment of social, environmental, and economic gains. Sustainability promotes reliability, which is essential when establishing standards of and requirements for future success. It is not every day that a business is successful for being inconsiderate and unstructured; these traits are unattractive to other companies as well as consumers.
3. In each and every institution be it based on the public sector or the corporate sector, standards are a crucial factor which is applied in most cases to ensure that the best out of every situation is achieved. Standards can be described as a level of a particular quality expected. It can also be defined as a measure of attainment, an idea used as a model especially when carrying out a comparative evaluation. In the use of standards, benefits can be derived not only in achieving performance but also in incorporating sustainability and balancing strategic priorities.
Sustainability can be defined as the ability to be supported or confirmed. In the business context, it is a reference to the ability of business institutions to manage their obligations and opportunities about the existing financial, social and environmental risks (Times, 2016). Standard was particularly important in incorporating sustainability. Sustainability standards are voluntary models which are used by corporate entities to show the performance of their specific products in certain specific areas. They are about food safety, environmental and financial issues. In this way, use of the standards helps all involved to be aware of what is to be expected from the companies involved (bsi,2016). Failure to meet a standard can result in loss of sustainability about the particular company.
In balancing strategic priorities, standards play a very crucial role. They determine which strategic action the company should pursue first with regards to the level of precedence. This can be measured against the standards in that the company can continue a course of action that ensures the company meets set standards in any given area first before pursuing other strategic objectives so as to safeguard the interests of the enterprise.
