Analysis of Sustainability in Practice - Essay Example

 Case Study Analysis of Sustainability in Practice Contents ABOUT SIEMENS 2 SUSTAINABILITY AND CSR 2 SUSTAINABILITY ASSESSMENT OF SIEMENS 4 FOR ENVIRONMENTAL SUSTAINABILITY 4 FOR SOCIETAL SUSTAINABILITY 6 CONCLUSION 8 BIBLIOGRAPHY 8 Siemens HealthCare. (2009). Siemens Healthcare To Provide Al Razi Healthcare, With State-Of-The-Art Diagnostic Facilities. Retrieved April 23, 2012 from http://www.medicexchange.com/Siemens-Healthcare/siemens-healthcare-to-provide-al-razi-healthcare--with-state-of-the-art-diagnostic-facilities.html 10 Siemens (2011). Project . Retrieved April 25, 2012 from http://www.siemens.com.pk/Siemens-Project%20.html 11 Stanat, M. (2011). Corporate Sustainability Strategies: A Siemens Case Study. Retrieved April 25, 2012 from http://www.greenbook.org/marketing-research.cfm/corporate-sustainability-strategies 11 Werther, W. B.and Chandler, D. B. (2010). Strategic Corporate Social Responsibility: Stakeholders in a Global Environment. Second Edition. Sage Publications, Inc. 11 ABOUT SIEMENS Siemens Engineering Company Limited offers innovative solutions in the areas of energy, logistics, infrastructure and healthcare. The company follows the vision to be pioneer in engineering and electronics technology by generating long term value for customers, maximizing returns on investment, enhancing innovativeness and creativity among workforce and contributing responsibly towards the society and environment (Siemens 2012). As a technology company, Siemens worldwide aims to capture opportunities for sustainable advancement of customers and the organization. Corporate social responsibility generates sustained value for the betterment of society. Siemens is a future oriented company which believes in sustainable development and responsibilities towards the society and has undergone out of the way to fulfill its commitment for the welfare of people, earth and the business. SUSTAINABILITY AND CSR Sustainable development is beautifully explained as “Meeting present needs without compromising the ability of future generations to meet their own needs” (Grayson et. al 2012). Sustainability is seen as the eco-development approach for the preservation of resources. Moreover, social responsibility is an obligation to assume corporate duties for the welfare of society (Ebner & Baumgartner 2006). Seeking economic benefits stays as the mission for existence of any business. However, CSR provides societal development which indirectly supports the motive of the business. By long term value creation for the society, businesses fulfill their duty as a member and contribute to growth of the firm. Proponents of sustainable development suggest that resources are scarce so sustainable use is crucial for growth otherwise quality of life will worsen (Blewitt 2008). For instance, if a tree is slashed without planting another one, this will eventually turn a forest into a desert. The issue of sustainability has become even more challenging with the massive growth in population because it will raise the consumption and demand for resources. Sustainability involves a firm commitment towards needs of the poor along with economic and social improvement and also realizing the limited nature of resources. Corporate Social Responsibility is an ethical obligation to the community at large (Werther et al 2012). It contributes largely to the aims of sustainable development. Any business which is high on ethical behavior and social commitment will have a promising long term growth potential and corporate sustainability (Khalkho 2007). SUSTAINABILITY ASSESSMENT OF SIEMENS In order to generate valuable profits for any business, sustainability remains the key driving force of the strategy (DJSI 2012). To ensure long term success, societal, environmental and economic sustainability are of paramount importance (Savitz 2009). Four megatrends of Globalization, Urbanization, Climate and Demographical dimensions are taking a challenging face in molding the world. Siemens stands with an innovative spirit in providing sustainable solutions to ensure development in all these dimensions. Sustainability remains the core company philosophy which is attained by striking a balance of long term value creation for the people, the planet and the company itself. The ultimate goal of the business is growth accomplishment and value creation seems to be the path to the achievement (Stanat 2011). The core values of Siemens are responsibility, excellence and innovation which are closely linked to sustainability (Sanford 2011). To achieve excellence, to become pioneers in generating innovative solutions for the world and to own the leadership, Siemens has firmly held on to its vision and values to the fullest. Corporate Social Responsibility is an integral element of sustainability (Hawkins 2006) which stays exceptionally in the commitment portfolio of Siemens. FOR ENVIRONMENTAL SUSTAINABILITY In Middle East, a new city known as Masdar is in the process of development which will be called as free carbon city as it will use locally produced less amount of energy. Carbon di oxide from fossil fuel and other related sources are captured by the CCS technology and emissions are prevented to harm the atmosphere (Sustainability Report 2011). The technology is extremely efficient in meeting the growing power demand with environment friendly power. Siemens will contribute to this innovative approach by providing renewable energy sources and advanced infrastructure technologies which will add to the Green Zone. Siemens is developing solar panels to resist sand and dust which will be less costly for cleaning. To provide sense of commitment, Siemens plans to locate its headquarters in Masdar to generate an outstanding global presence (Halper 2012). By leveraging its technology, Siemens will support the transition of the city towards sustainability. To ensure transparency and growth, a responsible approach will be undertaken for the consumption of natural resources and investments in technologies. Another example is of Fujairah Water transformation system. Siemens automation systems operate the pipeline after water is pumped from the mountains of Fujairah. Efficiency optimization and leak detection is achieved with the systems. This water serves various villages for consumption and irrigation purposes. Besides energy efficiency and environment friendly product designs, Siemens holds an environmental portfolio that comprises of solutions for the protection of climate and societal advancement. In , Siemens collaborated to construct Benazir Bhutto International Airport which uses state of the art Low Energy LED based lighting instead of lamps. The green technology not only lowers the energy consumption but also reduces maintenance costs, increases security and increased availability of Airfield. Al-Razi Healthcare medical center is another witness to the Siemens green products. The facility is located in Lahore and is equipped with Siemens design devices to ensure low radiations to patients, particularly females (Siemens HealthCare 2009). By using energy efficient technology and recyclable apparatus, the center promises comfort, quality and low costs to the customers. FOR SOCIETAL SUSTAINABILITY Siemens strives hard to assist its employees and people at large belonging to diverse communities to provide active contribution to the society. The values followed by the company have the similar agenda. Siemens, being an ethical business, ensures compliance with the legislations and procedures of the targeted country. The preservation of integrity of the selected place is at the heart of business operations which has enabled the company to reap sustainable development and a promising future. For societal development, Siemens initiated Project to encourage the initiative of fostering education and to enhance the quality of facilities in educational institutions by latest technology especially in the field of energy (Siemens 2011). For the purpose, state of the art technological equipment was installed in various engineering institutes of and training sessions were held to instigate knowledge on the functioning and handling. This sustainable project has benefitted numerous students and has acted as a bridge for talented students to gain exemplary knowledge about the technological advancements in fields like energy efficiency and process control which will help them in generating solutions and benefit the country at large. Cities are considered as the engines of progress around the world. For a better standard of living, cities are growth drivers of sustainable development (Joan 2010). However, the reality is far more challenging. Cities contribute more than 70% of the global energy consumption and greenhouse gas emissions (Sustainability Report 2011). A joint study was conducted by Siemens and EIU (Economist Intelligence Unit) known as Green city Index to analyze the environmental sustainability of urban centers by considering the parameters of energy, carbon di oxide emissions, infrastructure, logistics, healthcare, waste management and governance. The thorough analysis of various cities in different continents by the Index highlighted key loopholes which in turn provided food for thought for development. Siemens also welcomes study tours and visits for people across different arenas ranging from students to industry professionals. The tours initiate with a comprehensive guided visit to the facilities followed by presentations and demonstrations. Query sessions are entertained whole heartedly to provide visitors with insights about the operations and technicalities of the equipment. This initiative by the company is a source of motivation for aspiring candidates who want to pursue their careers in the engineering industry. Along with an idea about Siemens capabilities, these tours stir the knowledge and interest among the potential engineers. Siemens has contributed fruitfully towards the society other than educational grounds. ’s disastrous floods in 2010 and 2011 took away many lives. Siemens family raised funds from Siemens worldwide for flood relief and carried over certain projects to rehabilitate the flood affected individuals. Investment in education of the flood affected children, installation of water filtration plants and mobile hospitals for healthcare were some of the landmarks of Siemens towards the humanity. In 2011, Siemens received top ranking in Dow Jones Sustainability Index which proves the fact that sustainability acts as the comparative advantage for Siemens (Sustainability Report 2011). Besides this, Siemens is successfully included in the Global 500 Carbon Disclosure Leadership Index (CDLI) by CDP due to transparency in greenhouse gas emissions and climate protection strategies. Keeping in view the recent challenges, Siemens has developed a motto to expand its environmental portfolio with green technologies along with a rigorous approach towards social and economic dimensions. CONCLUSION Societal, environmental and economic sustainability are the drivers of value creation for the people, the planet and the company in today’s challenging scenario. BIBLIOGRAPHY Blewitt, J. (2008). Understanding Sustainable Development. Routledge. DJSI. (2012). Dow Jones Sustainability Indexes. Retrieved April 25, 2012 from http://www.sustainability-index.com/07_htmle/sustainability/corpsustainability.html. Ebner, D. and Baumgartner, R. J. (2006). Retrieved April 24, 2012 from http://www.crrconference.org/downloads/2006ebnerbaumgartner.pdf. Grayson, D., Jin, Z., Lemon, M., Angel, M., Slaughter, S. and Ta, S. (2012). Retrieved April 25, 2012 from http://newsroom.cisco.com/dlls/2008/ekits/g7_A_New_Mindset_for_Corporate_Responsibility_030308.pdf?POSITION=LINK&COUNTRY_SITE=us&CAMPAIGN=NewsAtCiscoGreen2008&CREATIVE=A+New+Mindset+for+Corporate+Responsibility&REFERRING_SITE=NewsatCiscoPressKit Halper, M. (2012). Sand-resistant solar panels for Middle East from Siemens, Masdar | SmartPlanet. Retrieved April 25, 2012 from http://www.smartplanet.com/blog/intelligent-energy/sand-resistant-solar-panels-for-middle-east-from-siemens-masdar/12180. Hawkins, D. E. (2006). Corporate Social Responsibility: Balancing Tomorrow's Sustainability and Today's Profitability. Palgrave Macmillan Joan Fitzgerald, (2010). Emerald Cities: Urban Sustainability and Economic Development. Oxford University Press, USA. Khalkho, K. (2007). Sustainable Development and Corporate Social Responsibility. Retrieved April 25, 2012 from http://www.prlog.org/10018774-sustainable-development-corporate-social-responsibility.html Sanford, C. (2011). The Responsible Business: Reimagining Sustainability and Success. 1st Edition. Jossey-Bass Savitz, A. W. (2006). The Triple Bottom Line: How Today's Best-Run Companies Are Achieving Economic, Social and Environmental Success -- and How You Can Too. 1st Edition. Jossey-Bass. Siemens Global Website. (2012). Press Releases - Siemens Global Website. Retrieved April 24, 2012 from http://www.siemens.com/press/en/pressrelease/?press=/en/pressrelease/2011/corporate_communication/axx20110982.htm. Siemens HealthCare. (2009). Siemens Healthcare To Provide Al Razi Healthcare, With State-Of-The-Art Diagnostic Facilities. Retrieved April 23, 2012 from http://www.medicexchange.com/Siemens-Healthcare/siemens-healthcare-to-provide-al-razi-healthcare--with-state-of-the-art-diagnostic-facilities.html Siemens Engineering Co. Ltd. (2012). Siemens at a glance. Retrieved April 24, 2012 from http://www.siemens.com/annual/11/_pdf/siemens_ar2011_at-a-glance.pdf. Siemens Engineering Co. Ltd. (2012). Siemens Engineering Co. Ltd.. Retrieved April 24, 2012 from http://www.siemens.com.pk/index.html Siemens (2011). Project . Retrieved April 25, 2012 from http://www.siemens.com.pk/Siemens-Project%20.html Siemens. (2011).Sustainability Report 2011. Retrieved April 24, 2012 from http://www.siemens.com.pk/Pdf/CSR11.pdf Stanat, M. (2011). Corporate Sustainability Strategies: A Siemens Case Study. Retrieved April 25, 2012 from http://www.greenbook.org/marketing-research.cfm/corporate-sustainability-strategies Werther, W. B.and Chandler, D. B. (2010). Strategic Corporate Social Responsibility: Stakeholders in a Global Environment. Second Edition. Sage Publications, Inc. Read More