Business Sustainability Strategies - Research Proposal Example

3 Methodology 3 Introduction The purpose of the research is to evaluate the strategies that companies need to develop in order to maintain a long-term sustainable performance. The study precisely explores the characteristics of the three sample companies, in order to answer the research questions (Verhage, 2009). In this study, a specific research design has been followed in order to complete the study within a determined timeframe. The study comprised a series of activities, which were necessary for conducting the entire study in an effective and robust manner. The aim of the study is to deliver an “in-depth” understanding of the relevance and business utility of sustainability and its measuring indicators. Thus, qualitative approach was applied in the study. The qualitative approach was adopted, as it is believed that the use of this approach provide a rich understanding regarding the impact of ‘business sustainability strategies’. Both secondary and primary sources of data collection methods were applied to gather relevant information pertaining to the research issue (Kumar, 2010; Bergh & Ketchen, 2009). 3.2 Research Approach The research approach in any particular study primarily illustrates the process through which the relevant data and information are acquired relevant to the particular topic of research. The study can be conducted using various forms of research approach including qualitative, quantitative or as well as using the combination of the both also known as mixed approach. Quantitative method is suitable for deductive study in which variables are validated by hypothesis or principles. In quantitative research hypothesis are verified as well as statistical tools are applied to examine the data. The quantitative method is also suitable for descriptive research as the result obtained from the quantitative research is often quantifiable. Notwithstanding, it is claimed that quantitative research is often time consuming and encompass considerable effort (Borrego & et. al., 2009; Bryman, 2007). In this regard, it is stated that it is quite difficult to manage data using mixed research method. In contrast, it has been argued that qualitative method offers greater flexibility in conducting research as well as it facilitates the acquisition of a comprehensive understanding of the research issue or topic. Qualitative method is often characterized by gathering and evaluation of textual data. Thus, qualitative research method is being selected for this particular research study while the quantitative method is being disregarded. The primary reason behind the rejection of this method is that quantitative method is often very difficult to manage. Moreover, it is argued that the use of qualitative method provides an understanding that is relevant and informative at a wider scale but in a much comprehensive manner. Qualitative research provides richer explicatory data and enables in-depth examination of complex phenomena in a way that cannot be attained with the use of quantitative (Luton, 2010). 3.3 Sampling Procedure Sample and sampling procedure play an important role through which it can be possible to recognise the exact sample size. Apart from this, sampling framework will also assist to ascertain the target sample of the research (Johnson & Christensen, 2013). In this study non-probability sampling technique has been applied (Rubin & Babbie, 2009). The sampling method was selected in order to ensure that reliable data are obtained from the sample selected for the study. In order to conduct the research, the employees, from three companies, namely, Veolia, Suez and UBS were selected as a sample for the study. The three companies, namely Veolia, Suez and UBS were chosen for the study as these companies have implemented sustainable business strategies and they are listed in ranking indexes that enabled their comparative evaluation, which have enabled these firms to meet their clients’ needs efficiently. Contextually, Veolia Environmental Services is one of the leading UK based recycling and waste management company. It works in wide spectrum of environmental services in order to lower the rate of carbon footprints. Additionally, the customers of company take significant advantage of recycling and waste collection, disposal, recovery and treatment services of the company to remove the hazardous waste (Veolia Environmental Services, 2014). SUEZ Environment Company also provides innovative services to its customers, including people and corporations in the field of drinking water, waste management and wastewater treatment. In the present scenario, the company has entered the second stage of ‘Sustainable Development Road Map’ to create more sustainable growth through the effective management of various water resources and water cycle (SUEZ environment, 2014). On the other hand, UBS provides financial advices to clients in order to address societal concerns. UBS, from a long-time, is delivering its services to its clients to invest in environmentally responsible activities. The company aims to work with clients towards creating a better society by exhibiting proactive leadership to meet key societal issues of clients. Moreover, the company is expanding its capabilities in order to provide an integrated collection of sustainable and impressive investment products and services to its clients. In this regard, all the three aforesaid companies were engaged in providing product and services to maintain sustainability to their clients (UBS, 2014). Correspondingly, three employees from three different companies were selected to gather information pertaining to business sustainability strategies. The total sample size for the study entailed nine employees. In this study, face-to-face interviews with three employees of three different companies were arranged for collecting primary data relevant to the study. Accordingly, employees were chosen from each of the directorial, managerial and administrative categories to have a comprehensive outlook of all three companies’ sustainability strategies. 3.4 Data Collection Method Data collection is determined to be an essential element in any research. It is often argued that the validity of any research firmly relies on the reliability of the data obtained from various sources. In this context, for attaining the aims and objectives of the study, the emphasis was laid on the utilizing both primary and secondary sources for the collecting relevant data. Primary sources of data collection involve gathering data through questionnaire survey, interview, observation and focus group. In this study, face-to-face interviews with three employees of three different companies were arranged for collecting primary data relevant to the study. Employees were chosen from each of the directorial, managerial and administrative categories to have a comprehensive outlook of all three companies’ sustainability strategies. On the other hand, data were also collected from secondary sources. The secondary data were collected through "Annual and Sustainability" reports of the three companies along with the official websites of the companies were used to gather data for the study. The semi-structured interview was conducted with the selected interviewees. The semi-structured interview was designed to acquire rich understanding regarding the business sustainability strategies of the three selected sample organisations (Ritchie & et. al., 2013; Olsen, 2011). In order to conduct a sustainability assessment for the aforementioned three companies GRI indicators such as comparability, accuracy, and reliability have been applied. The GRI indicator of comparability has been applied in order to evaluate the performances of the companies as well as to compare their performances grounded on the past environment, social and economic performance. Similarly, accuracy has been applied to measure the accuracy of the information provided in the report of the three selected companies. Reliability has been selected to measure the authenticity of the information provided in the report (GRI, 2011). Criteria Definition Sources Comparability Comparability criteria require that issues and information are selected, gathered and reported regularly. Annual and Sustainability reports Accuracy This criteria requires that information are accurate and comprehensive for stakeholders to examine the reporting the performance of an organisation. Annual and Sustainability reports Reliability Reliability criteria seeks that reporting is performed on a periodic schedule and information is accessible in within a specified time for stakeholders in order to make well-versed decisions. Annual and Sustainability reports Table 1: Selected Criteria and their Definitions As far as the RepRisk indicators are concerned, three major indicators are being applied in this study, which include the current RepRisk Index (RRI), the peak RRI and the RRI change to assess the sustainability strategies of the three selected companies. In this regard, the current RRI has been applied to determine the current degree of criticisms regarding the three companies. In addition, the peak RRI has been implemented to the highest degree of criticism experienced by the three companies in the past two years with respect to the areas related to ‘environmental’, ‘reputational’, social, ‘investment’ and ‘risk’. The RRI change as an indicator for sustainability assessment has also been applied to measure the level, i.e. increase or decrease with respect to RRI in the last 30 days (RepRisk AG, 2014). 3.5 Limitations As, mention above, the study is based on a qualitative approach of research methodology. The major limitation of the method is associated with the generalizability of the results. Accordingly, the number of companies and interviewees selected for this study was relatively small, hence the conclusions made increase the complexities associated with the generalisation of the data (King & Horrocks, 2010; Munhall & Chenail, 2008). Since, the study was based on the extensive use of secondary data, any manipulation by previous authors may also have distorted the validity of the inferences (Stevens & et. al., 2012; Neelankavil, 2007). 3.6 Conclusion In order to ascertain the desired objective, we have adopted a qualitative approach. The research study comprises both primary and secondary data with the intention of determining appropriate findings. The primary data was collected through face to face interview with nine different employees from three different companies. In addition, GRI and RepRisk indicators were applied in this study to assess the sustainability of strategies of the three selected companies which included Veolia, Suez and UBS. The major drawback of this particular study is that the sample size for obtaining data or information was too small and extensive dependence on secondary data may have limited the validity and reliability of the study. References Bryman, A., 2007. Barriers to Integrating Quantitative and Qualitative Research. Journal of Mixed Methods Research Vol. 1, No.1, pp. 8-22. Borrego, M. & et. al., 2009. Quantitative, Qualitative, and Mixed Research Methods In Engineering Education. Journal of Engineering Education, pp. 53-66. Bergh, D. D. & Ketchen, Jr., D. J., 2009. Research Methodology in Strategy and Management, Volume 5. Emerald Group Publishing. GRI, 2011. Sustainability Reporting Guidelines. Part 1 – Reporting Principles and Guidance [Online] Available at: https://www.globalreporting.org/resourcelibrary/g3.1-guidelines-incl-technical-protocol.pdf [Accessed September 04, 2014]. Johnson, R. B. & Christensen, L., 2013. Educational Research: Quantitative, Qualitative, and Mixed Approaches. Saga Publications. Kumar, R., 2010. Research Methodology: A Step-By-Step Guide for Beginners. Saga Publications. King, N. & Horrocks, C., 2010. Interviews in Qualitative Research. Saga Publications. Luton, L. S., 2010. Qualitative Research Approaches for Public Administration. M.E. Sharpe Publications. Munhall, P. L. & Chenail, R. J., 2008. Qualitative Research Proposals and Reports: A Guide National League for Nursing Series. Jones & Bartlett Learning. Neelankavil, J. P., 2007. International Business Research. M.E. Sharpe Olsen, W., 2011. Data Collection: Key Debates and Methods in Social Research. Saga Publications. Rubin, A. & Babbie, E., 2009. Essential Research Methods for Social Work. Cengage Learning. Ritchie, J. & et. al., 2013. Qualitative Research Practice: A Guide for Social Science Students and Researchers. Saga Publications. RepRisk AG, 2014. RepRisk Index. RepRisk Methodology. [Online] Available at: http://www.reprisk.com/methodology/reprisk-index/ [Accessed September 04, 2014]. Stevens, R. E. & et. al., 2012. The Essentials of Marketing Research. Routledge. SUEZ Enviornment, 2014. From One Road Map To Another: New Commitments For The Next Four Years. Sustainable Development. [Online] Available at: http://www.suez-environnement.com/sustainable-development/policy/road-map-commitments-years/ [Accessed September 04, 2014] UBS, 2014. Sustainability at UBS. Our Approach. [Online] Available at: https://www.ubs.com/global/en/about_ubs/corporate_responsibility/commitment_strategy/sustainability.html [Accessed September 04, 2014] Veolia Environmental Services, 2014. Who We Are. About Us. [Online] Available at: http://www.veoliaenvironmentalservices.co.uk/Merseyside-and-Halton/About-us/Who-we-are/ [Accessed September 04, 2014] Verhage, L., 2009. Management Methodologies Voor de Implementatie Van Enterprise Systems. Eburon Uitgeverij B.V publication. Read More