Literature Review of Development Assessment Answers

Subject Name : Literature Review

Assessment Literature Review
Introduction
Sustainable development refers to the development mechanism to meet the needs of current generation without compromising the resources of future generation (Global Sustainable Development Report, 2016). The sustainable development highlights the issues related to the resource scarcity, conflicts, loss of biodiversity and the climate change (Global Sustainable Development Report, 2016). According to the latest sustainable development report, the new agenda of the development have been discussed in the international conference in order to strengthen the sustainability in the society (Global Sustainable Development Report, 2016). The report gives an overview of the complex perspectives in order to attain sustainable development goals (Global Sustainable Development Report, 2016).
For a long time, sustainability performs a significant role in the hotel industry by augmenting attention in hospitality and tourism projects (Klarin, 2018). There are various challenges and trends in the hotel industry that might influence the industry globally (Global Sustainable Development Report, 2016). According to the World Tourism Organization, sustainability in the hospitality industry successfully adheres to the present needs of the customers and tourists (Global Sustainable Development Report, 2016). Sustainability in the hospitality industry has gained competence management, environmental efficiency, innovations, improved product performance as well as sustainable management (Global Sustainable Development Report, 2016).
The literature review provides an outline of the description related to sustainable development and the business strategies that can be used in the same. The review also discusses the industry-specific sustainable development along with the overview of sustainable development and the hotel industry.
Sustainable development
Sustainable development holds to the principles for sustaining the natural arrangement in order to preserve the ecosystem and natural resources of the society (Global Sustainable Development Report, 2016).
Klarin has identified the related concepts of sustainable development (Klarin, 2018). In the published report of the UN, sustainability development is described as the activity that focuses on the degradation of the global environment (Klarin, 2018). In the words of UNEP conference, the slogan of only one earth has been promoted in order to create an action plan for the conservation of the environment (Klarin, 2018). The international conference of the human environment has also stressed on sustainability development (Klarin, 2018). The United Nation conference describes sustainable development as an established framework for the betterment of the future (Klarin, 2018). The sustainable development summit held in 2015 promoted the achievement of the millennium development goal of 2030 (Klarin, 2018).
On the other hand, Bumgarter criticized sustainable development and illustrate the other perspective of the same by describing that only one critical issue cannot address all the problem of the current generation (Bumgarter, 2011). Bumgarter describes three important aspects of sustainable development namely the science of sustainability, the economic problems and the contribution of the business corporation in sustainable development (Bumgarter, 2011). The paper ascertains that sustainable development is a dynamic and complex procedure that include four complex terms namely rigor, normative aspects, relevance and the dynamic environment of sustainable development (Bumgarter, 2011). The researcher stressed on the point that the main goal of corporate businesses should be the proper understanding of the sustainability problem and finding the solution for the same (Bumgarter, 2011).
Sustainable business strategies
According to Giannoni sustainable business strategies ascertain the competitive strategies of the business (Giannoni, 2017). The research of the paper has identified the importance of sustainability in the business strategies and the implementation of the same in the business (Giannoni, 2017). With this study, it has been found that the companies that implement the sustainability strategies are able to earn the higher profit and the lack of sustainability strategies can hamper the vision of the company and restrict the competitive advantage (Giannoni, 2017). Therefore, the researcher recommended taking the necessary steps in order to support sustainability for a long time (Giannoni, 2017). In support to the Giannoni, Klarin (2018) ascertains that the sustainability implementation in the business strategies plays an important role and the business companies are working collaboratively to implement the strategies in the areas of business principles and objectives (Klarin, 2018). The researcher has also identified the importance of participation of various departments in the implementation procedure (Klarin, 2018). According to the researcher, there are two main concepts associated with the strategies of the business namely development and the sustainability (Klarin, 2018).
According to Trivedi, sustainable strategies and inevitable in the twenty-first century (Trivedi, 2018). The companies started making efforts in support of the sustainability business strategies and the consumers have also expected that the sustainability approach should be used by the companies in order to bridge the gap between the consumer expectations and the achievement of the sustainability (Trivedi, 2018). Travedi proposed a framework for the companies to meet consumer expectation by achieving sustainability (Trivedi, 2018). Trivedi has concluded in the paper that sustainability can be achieved by achieving the combination of modern and ethical business practices (Trivedi, 2018).
Industry-specific business strategies for sustainable development
According to Giannoni (2018), the construction industry is required to formulate the sustainability in the business strategies of the construction firm in order to achieve the sustainability in the business model of the given industry (Giannoni et al., 2017). But Froster defined the importance of sustainability practices in the food industry by defining the industry as a source of natural products (Froster, 2013). The researcher finds out that the food industry should respond to the triple bottom line with the sustainability perspective (Froster, 2013). The researcher has identified eight food industries that are practicing sustainable strategies in the business and gratefully achieving business success (Froster, 2013). Sarkar and Parvez (2015) ascertain the importance of sustainability in the banking industry. The banking industry is working on achieving sustainability in the areas of corporate social responsibility, financial inclusion as well as green banking (Sarkar amp Parvez, 2015). The paper finds out that the policymakers and the practitioners are taking an initiative towards achieving sustainability in the current banking practices and status (Sarkar amp Parvez, 2015).
Devakumar has identified the relevance of sustainability in the competitive environment of the business (Devakumar et al., 2017). The researcher adopted green marketing practices in order to achieve sustainability in business operations (Devakumar et al., 2017). The paper identified a new organic path to ascertain new business practices by the use of sustainability in business operations (Devakumar et al., 2017). Green marketing is an environmentally safe practice that is complementing the sustainability in business operations (Devakumar et al., 2017). The researched has recommended the use of green products, green rice, green place, green packaging as well as green promotion (Devakumar et al., 2017). In the words of Gomes, The application of sustainable technological innovation is one of the main challenges in the current time (Gomes et al., 2013). The achievement of sustainable development in the innovation industry has ascertained the technological development and enlargement of the production (Gomes et al., 2013).
Sustainable development and the hotel industry
Bader (2005), explain the increasing trend of sustainable business strategies in the business. The researcher finds out that the hotel owners and manager adopted the sustainability in operations in order to attract more investors and to satisfy the demand of the customers (Bader, 2005). The researcher identifies some major problems that include the cost of energy, rising resources, an economic problem in the hotel (Bader, 2005). The compensation of the problem can be ascertained by the use of sustainable development in business practices (Bader, 2005).
According to Houdre (2008), sustainable development is a holistic concept based on simple principles. Most of the successful hotels follow sustainability in business operations (Houdre, 2008). The Taj Hotel has a strong CSR and sustainability history that is considered as the source of its business success (Houdre, 2008). The three important considerations of the Taj hotel are corporate governance, environmental considerations and the effective employees relation (Houdre, 2008).
Prudhomme (2016), describes the understanding of how the management of the hotel adopts sustainability in the business processes. The study shows orientation and the implementation of sustainable development in hotel management. The study further demonstrates that sustainability can be an effective strategy in the success of the hotel management.
Nwokorie and Obior (2018), ascertain the sustainable development practices carried by fifteen hotels in order to host the community and achieving the high level of sustainability in the hotel management (Nwokorie and Obior, 2018). The researcher has recommended the enforcement of sustainable development practices in the hotels with the help of a systematic approach (Nwokorie and Obior, 2018). The researcher has also ascertained the synergy between the effect of sustainability in hotel management and the positive community view (Nwokorie and Obior, 2018).
Lawson (2018), there are several ways from which sustainability in the hotel can be achieved effectively (Lawson, 2018). Lawsen has identified six changing sustainable ways that could affect the hotel industry (Lawson, 2018). The cost efficiency is an important aspect of the sustainability development that ascertain the balance between the reduced cost and improved efficiency (Lawson, 2018). The achievement of the sustainability can positively impact the guest experience of the hotel industry (Lawson, 2018). The corporate brand image is also define as an important aspect of the sustainability that helps in embracing the business culture in order to attract and retain the large number of customers (Lawson, 2018). The improved corporate brand image would increase the profitability of the company (Lawson, 2018). The sustainability has also take into consideration the the economic incentives provide by the government authorities in order to promote the sustainability in the hotel industry (Lawson, 2018). The regulatory bodies ensure the sustainability achievement and plays a significant role in the business strategies of the hotel industry (Lawson, 2018). The regulatory bodies take into consideration the critical measures of the society that would include the safety from the hazardous substances as well as the improvement in the standards in order to achieve the sustainability development (Lawson, 2018).
Conclusion
The literature review concludes the sustainable development as an activity that focuses on the degradation of the global environment. The literature review highlighted the significance of achieving sustainability in the business strategies for industry-specific as well as hotel business operations. The literature review has also criticized the sustainable development in the business strategies by defining the other major reason for the current generation. The literature explains sustainable business strategies as a major source of winning competitive advantage. The researcher has also recommended taking the necessary steps in order to support sustainability for a long time.
The literature review describes Industry-specific business strategies for sustainable development. The construction industry concluded the requirement of formulating sustainability strategies. The food industry successfully highlighted the significance of ascertaining the triple bottom line in order to win the sustainability in the food industry. The baking industry reports sustainability as the fulfillment and achievement of green banking and corporate social responsibility. The baking industry has also highlighted the importance of sustainability for the policymakers. The review has also named sustainability as a new organic path to ascertain new business practices.
The literature review illustrates the point of view of four researchers related to sustainability in the hotel management. The review confers orientation and the implementation of the sustainable development in the hotel management along with the strong CSR and sustainability history of the Taj Hotel. The review explains three important reflections of the Taj Hotel to achieve sustainable development. The literature review ascertains the sustainable development practices implemented by fifteen hotels and the booming trend of the sustainable business strategies in the business.
The literature has also identify the major components that are critical in the success of the hotel industry. Lawsen outlines the cost efficiency, better guest experience, improvement in the corporate brand image, economic incentives provided by the government, environmental regulatory affairs as well as brand image that could impact the hotel industry.
In the end, the literature review highlights some major predicaments and compensation for the same associated with sustainable development in hotel management.
References
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Baumgartner, R. J. (2011). Critical perspectives of sustainable development research and practice. Journal of Cleaner Production, 19(8), 783-786. Retrieved from
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Devakumar et al. (2017). An Empirical Study on Green Marketing Strategies for Market Sustainability with Respect to Organic
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HYPERLINK quothttp//www.msruas.ac.in/pdf_files/Publications/MCJournals/August2017/Paper7.pdfquot h http//www.msruas.ac.in/pdf_files/Publications/MCJournals/August2017/Paper7.pdf
Forster, A. (2013). Sustainability Best practices in the food industry. Journal of Undergraduate Research, 16, 1-9. Retrieved from
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Maffini Gomes, C., Kruglianskas, I., Scherer, F. L., Neto, R. D. L., amp Marques Kneippe, J. (2013). Strategies for sustainable business and performance in Brazilian industrial companies. Journal of technology management amp innovation, 8, 23-23. Retrieved from
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Sarker, S., amp Parvez, S. (2015). Sustainability in Banking Industry Which way to move. ASA University Review, 9(2). Retrieved from
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