Responsible Business Essay Example | Topics and Well Written Essays - 4000 words

Responsible Business - Essay Example Various industries, including the fashion retailing industry has been significantly focused on effective waste management strategies as one of the pivotal concerns of its Corporate Social Responsibility (CSR) initiatives. Emphasising on this particular issue, the essay will focus on identifying the waste management strategies applied by NEXT applying various theoretical frameworks, governmental intervention policies and industrial aspects. Discussion A Theoretical Description Concentrating on Desjardins’ environmental perspectives, it can be argued that organizations should take necessary initiatives towards sustainable development rendering due consideration towards the various environmental aspects such as landfills and emission rates among others by performing ethically sound and responsible supply chain activities (Herman & et. al., 1990). As described by Desjardins, ‘dematerialization’ is primarily referred to the comprehensive or relative minimization in the quantity of materials or resources which are needed to produce goods or to maintain the economic position of a nation. It can be viewed in this regard that that there are limited amount of resources available from the surrounding environment whereas the activities which are developed in this eco-system needs unlimited consumption of resources in an unsustainable manner owing to which companies should emphasise on effective waste management strategies (Herman & et. al., 1990; Metro Vancouver, 2011). Based on a similar concern, Braungart & et. al. (2006) described that transformation of human industry through intelligent designing is necessary for ecological system implications. Contextually, eco-efficiency as well as zero emission is primarily concentrated towards minimizing the accidental negative consequences of manufacturing procedures often applied by industries (Braungart & et. al., 2006). With a similar viewpoint, Gibbs & et. al. (2012) described that industrial ecology and re gional development should be considered as a cluster policy when developing sustainability strategies, especially those concerning waste management. In this regard, organisations have often been suggested to concentrate upon applying industrial ecology standards with the objective to minimize or remove the negative consequences of economic development (Gibbs & et. al., 2012). Based on a similar context, Hawken & et. al. (1999) developed the theory of ‘Natural Capitalism’ which is considered as an evaluation framework of conventional ‘Industrial Capitalism’. This system also neglects the values of human capital in terms of living system, natural resources, socials and cultural system. Hence, it can be implied that ‘Natural Capitalism’ identifies the interdependence of human capital on the preservation of the natural capital (Birkin, 2001). Applying Theoretical Frameworks Waste Management Hierarchy In relation to waste management hierarchy, the o verall operation of NEXT within the UK and Ireland has primarily focused on how to minimize its environmental impact by