MKT6045 One Planet Business BCU Assignment Sample Singapore
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As the Sustainability Manager within an organisation of your choice, you have been asked to deliver a presentation to the Senior Management Team that outlines the sustainability issues within the industry and proposes a new, sustainable product or service to address one or more of these issues.
2.2. Required tasks
You are required to deliver a business presentation in which you:
1) Present a Triple Bottom Line analysis that identifies the key sustainability issues that are currently facing, the industry in which your organisation operates.
In conducting a Triple Bottom Line analysis for the sustainability issues within the industry, it is crucial to assess the economic, environmental, and social aspects. This analysis helps identify key sustainability challenges and opportunities.
- Cost of Operations: Rising energy prices, resource scarcity, and increasing raw material costs can impact the industry’s profitability.
- Market Demand: Changes in consumer preferences and demand for sustainable products/services may pose challenges to organizations that do not adapt.
- Carbon Footprint: The industry’s operations may contribute to greenhouse gas emissions, climate change, and environmental degradation.
- Resource Depletion: Overexploitation of natural resources, such as water, timber, and minerals, can result in long-term environmental consequences.
- Labor Practices: Ensuring fair and ethical labor practices throughout the supply chain is vital.
- Community Engagement: Establishing positive relationships with local communities and addressing their concerns is crucial for sustainable growth.
2) Evaluate the organisation’s current approach to the identified sustainability issues in relation to at least two competitors.
To evaluate the organization’s current approach to sustainability issues, a comparison with two competitors is necessary. The evaluation should consider their sustainability strategies, initiatives, and achievements.
- Sustainability Strategy: Competitor 1 has implemented a comprehensive sustainability strategy that focuses on reducing carbon emissions, implementing circular economy principles, and engaging in community outreach programs.
- Achievements: They have achieved significant reductions in energy consumption and waste generation, and have received recognition for their sustainable practices.
- Comparative Advantage: Competitor 1 has established a strong reputation for sustainability, attracting environmentally conscious consumers and gaining a competitive edge.
- Sustainability Initiatives: Competitor 2 has taken initial steps toward sustainability, such as implementing recycling programs and energy-efficient practices.
- Room for Improvement: However, their sustainability initiatives are limited in scope and lack a comprehensive strategy. They have yet to address significant issues such as carbon emissions and supply chain transparency.
- Competitive Disadvantage: Competitor 2 may face challenges in attracting sustainability-minded customers and could be at a disadvantage compared to more proactive competitors.
3) Propose, with justification supported by academic theory and/or frameworks, a new product or service that addresses one or more of the identified sustainability issues, in which you:
a) Outline a Minimum Viable Product (MVP), including a customer value proposition
A sustainable product that addresses the identified sustainability issues is a smart home energy management system. This MVP would integrate renewable energy sources, energy-efficient appliances, and smart automation to optimize energy consumption and reduce costs.
Customer Value Proposition: Our smart home energy management system empowers users to monitor and control their energy usage, leading to cost savings and a reduced environmental footprint. With real-time data, personalized recommendations, and intuitive user interfaces, our product ensures a seamless transition to sustainable living.
b) Present a concept visualisation and/or customer storyboard that outlines the features and benefits of the product/service
The concept visualization showcases a user-friendly interface that allows customers to track their water consumption in real-time, set usage targets, and receive notifications in case of leaks or excessive usage. The system integrates with smart devices and fixtures to automate water control, such as adjusting irrigation schedules or turning off faucets when not in use.
The customer storyboard highlights the experience of a customer named Sarah, a homeowner who wants to reduce her water consumption. It demonstrates how Sarah installs the smart water management system and uses the mobile app to monitor her water usage. She receives personalized recommendations on water-saving practices and successfully reduces her monthly water bills. Sarah’s engagement with the system leads to improved environmental sustainability and financial savings.
By offering a comprehensive smart water management system, our organization aims to address the sustainability issue of water resource depletion and promote responsible water usage among customers.
4) Present a customer persona for a specific, non-sustainable target segment, outlining the key obstacles that are preventing them from adopting a more sustainable lifestyle.
Demographics: Male, 35 years old, urban dweller
Psychographics: Tech-savvy, career-focused, value convenience
Behaviors: High energy consumption, limited awareness of sustainable living practices, resistant to change
- Lack of Awareness: John is unaware of the environmental impact of his high energy consumption and the potential benefits of adopting sustainable practices.
- Perceived Inconvenience: John perceives sustainable living as inconvenient and time-consuming, which discourages him from making changes.
- Financial Concerns: John assumes that sustainable products/services are expensive and believes that the initial investment outweighs the long-term benefits.
5) Recommend, with justification supported by academic theory and/or frameworks, three distinct activities that your organisation can undertake to encourage the chosen target segment to adopt your new product/service.
- Education and Awareness Campaigns: Develop informative and engaging content through various channels (websites, social media, and workshops) to raise awareness about the benefits of sustainable living, emphasizing cost savings, convenience, and environmental impact.
- Financial Incentives: Offer incentives, such as rebates or discounts, to reduce the perceived financial burden associated with adopting sustainable products/services. Highlight the long-term cost savings and return on investment.
- Gamification and Rewards: Integrate gamification elements into the smart home energy management system to make sustainable practices enjoyable and encourage behavior change. Implement a rewards program that offers incentives for achieving energy-saving milestones.
By implementing these activities, the organization can effectively engage the non-sustainable target segment, overcome their obstacles, and encourage adoption of the new sustainable product/service.
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