Discussion of Banyan Tree Green Homes Program
Banyan Tree Green Homes Program 3
Introduction 3
Concepts and Theories of Sustainability 3
Analysis of Banyan Tree Green Homes Program 5
Sustainability Motivations 6
Sustainable Business Practices 7
Benefits of Adopting Sustainable Business Practices 8
Challenges Facing Sustainable Business Practices 9
Recommendations 10
Conclusion 10
References 12
Banyan Tree Green Homes Program
Introduction
The hospitality industry is an important part of social, economic and environmental development given its role in leisure services and tourism throughout the world. Given the rapid changes observed in the industry, it is important to understand the potential threats that the various activities undertaken in hospitality industry have on the environmental sustainability. Banyan Tress Holdings Ltd is one of the hospitality brands that is has been revolutionizing its business activities towards sustainable development. Sustainable development means utilizing environmental resources in meeting human needs such that the needs and development of the future generations are not compromised. Industries and businesses are incorporating sustainability practices in their development activities based on the environmental concerns by consumers, industry standards and other stakeholders with a view to creating an environment where development for the future generations is not compromised. Butler (2008, p.234) asserts that sustainable or green development is a new norm now in hospitality industry and this norm is something that is enduring. It is worth noting that the government, business ethical responsibility, consumers, and competition in the industry are vital components that motivate businesses to embrace positive change towards the environment. As such, the hospitality industry must focus on meeting the prevailing environmental regulations, respond to the eco-friendly demands made by their clients and establish practices that contribute to sustainable development for them to remain competitive.
Concepts and Theories of Sustainability
Environmental sustainability is an important concept whose primary goal is to establish and maintain conditions favorable for coexistence between nature and people such that development takes place in productive harmony, and at the same time meeting social, economic and other stipulations that are meant to safeguard the wellbeing of both the present and future generations. Prud’homme and Raymond (2013, p. 120) state that emulating environmental sustainability model is quite important as it ensures interconnectedness and balance between environmental needs and human society. Notably, several business organizations including those in hospitality industry seem to adopt development practices that reduce damage on the environment as the whole world moves towards sustainable revolution. Living within the environmental limits is one of the central principles of sustainable development and failure to do so results in the implication of climate change. However, there are some businesses whose development projects are mainly driven by profit motive such that they do not assess the negative impacts such projects may have on the environment. This is what makes it essential for the management teams of various organizations to consider the broader impacts development projects may have on the environment. Other than the environment, sustainable environment seeks to meet the diverse needs of both the present and future generations by promoting cohesion, social inclusion, personal wellbeing, and creating equal opportunities for both the existing and future communities.
Proponents of neoclassical theory argue that sustainable development is development that maximizes wealth by providing equal opportunities to all people. Further, these proponents state that economic improvements that are not realized within the limits of sustainable development may put the survival of future generations at risk. Incorporating sustainable development in the neoclassical theory of economic growth is paramount in improving the general welfare of both the present and future generations. This way, businesses are able to take into account the environmental capacities and needs of both the present and future generations such that any rise in economic growth is not as a result of comprising the social welfare of either of the generations. Securing the survival of the present and future communities is one of the central reasons that made researchers in early nineties to approach the subject of sustainable development from a background of economics (Dodds & Joppe, 2005, p.248). This involved pricing the environment through the framework of incentives and fiscal controls. Assigning an economic value on the natural environment in terms of human health, pollution and depletion of resources is one way of protecting the survival and development of future generations.
Analysis of Banyan Tree Green Homes Program
Banyan Tree Holdings Ltd is a hospitality brand that operate internationally through developing and managing spas, hotels and resorts in different parts of the world. The group created Banyan Tree Global Foundation in 2009 to serve the group’s social responsibility by enhancing social, economic and environmental wellbeing (Sloan, Legrand & Chen, 2013, p.47) Seedlings and Green Communities are some of the projects that are under the foundation. Banyan tree defines success environmentally and socially as opposed to many other businesses that define success only financially. Some of the core values of the group include exercising caution with regard to environmental impacts, enabling long term prosperity of the society and generating returns from investments in a sustainable manner for all stakeholders. Green Communities was launched in early 2007 by Banyan Tree in order to raise awareness about climate change. The group aimed at planting 2000 trees annually under this program, which would help in absorbing the atmospheric carbon dioxide that is responsible for causing climate change. The primary objective of this program is to engage communities and the group’s guests and associates in sharing the various causes of climate change and devise measures and actions that can be taken to reduce the escalating levels of atmospheric carbon emissions. In 2010, the group further enhanced Greening Communities program by starting to implement the EarthCheck program across all its resorts. EarthCheck program serves an important role in the tourism and travel industry. It is the leading benchmarking, environmental management and certification program that is quite vital in the conservation of natural resources.
Sustainability Motivations
Motivations refer to the internal and external factors that affect the actions and measures adopted in addressing a given concern. Consumers’ environmental concerns, hoteliers’ attitudes and stakeholders’ environmental concerns are some of the factors that influence how businesses respond to their sustainability policies. Greening Communities program is motivated by the group’s core values that are embedded in each and every step of the development process of the projects undertaken. In addition, guest experience, corporate brand image and economic incentives by government have greatly inspired how Banyan Tree group has been responding to environmental concerns. This is because the group understands that investing in environmental conservation can have positive impact on its reputation, which subsequently improves guests’ experience. Banyan Tree is one of the companies in hospitality industry that has a track record in sustainable development.
Sustainable Business Practices
A sustainable business refers to a venture that operates in the interest of both the present and future generations in a way that the long-term survival of the venture and its associated social, economic and environmental systems are not compromised. Ventures that focus on only alleviating negative impacts on the environment are known as green businesses while businesses that focus on the three dimensions of sustainability are described as triple bottom line (Kolk & Tulder, 2010, p.121). Banyan Tree is a good example of a triple bottom line business because it considers socio-cultural, economic and environmental dimensions of sustainability. Greening Communities program is an environmental initiative launched by Banyan Tree Holdings that has increased the number of trees planted in different parts of the world tremendously. Trees are land-based means that absorb, store and process carbon dioxide, a greenhouse gas that has been identified as one of the factors causing climate change. In this way, Banyan Tree has contributed greatly in natural resource conservation by adopting and implementing measures that reduce carbon emissions. According to Walker (2012, p.56), the four-step model of sustainable development outlines environmental initiatives as the first step towards sustainability. In this regard, Banyan Tree has been noted as a business organization whose investment projects are implemented in a manner that ensures sustainability of all stakeholders. Before the company was launched in 1992, it started by converting a toxic tin mine site, an undertaking that was awarded by the American Express and International Hotel Association.
Benefits of Adopting Sustainable Business Practices
Sustainable Practices can only be implemented effectively by understanding the holistic principle of sustainability. Integrating sustainability practices into the strategic plan of the business helps in addressing the various socio-cultural, economic and environmental concerns raised by various stakeholders (Houdré, 2008). It is essential to incorporate sustainability practices in the strategic plan of the business given the effect this has in the achievement of the long-term goals of the business. Banyan Tree Group has been offering free presentation in its different locations with an aim of creating awareness about the local ecosystem. Under the Greening Communities program, a total number of 427346 trees were planted between 2007 and 2015. There are various benefits that Banyan Tree enjoys due to its sustainability policy that is integrated in its strategic plan.
Public relations- improved company image due to sustainable business practices can result in several benefits. Henderson (2011, p.247) asserts that the company gains competitive advantages and new opportunities in the market as a result of these benefits. Findings indicate that sustainable business practices influence how the local community and shareholders view the company. Banyan Tree has benefited greatly from its contribution in environmental conservation, particularly through the Greening Communities program. Indeed, Banyan Tree is one of the largest companies in the hospitality industry globally. This growth and expansion is attributed to its role in the society that has improved its reputation to a greater deal. Secondly, sustainable business practices raise awareness to all other members of the society other than the company guests and stakeholders. Greening Communities program by Banyan Tree Ltd has influenced other investors across the world to integrate sustainability policies in their strategic plans in order to secure the survival of their businesses and at the same time carrying out production activities without compromising the survival of the future generations.
Challenges Facing Sustainable Business Practices
Implementing sustainable business practices can be challenging due to the external factors such as negative attitudes by company stakeholders and the local community, tough government policies and lack of interest by key shareholders of the company (Upadhyay, Vadam, & Mohan, 2014). It is also important to note that internal factors within the company can impede implementation of sustainable business practices. Some of the challenges experienced in the implementation of sustainable business practices such as Greening Communities initiative include lack of important information, costs, complexities of the program, and lack of support from key stakeholders of the company. Notably, the different resorts within Banyan Tree Group are under different management and they are situated in various locations across the world. Sometimes, not all these management teams are in consensus in matters pertaining the implementation of sustainable business practices. Mobilizing the Greening Communities program requires financial support and this constrains the company budget to some extent (Richards & Hall, 2003). If there is adequate financial support for this program, then the impact of this program could have been felt even more greatly in the regions where Banyan Trees resorts are located. On a different note, the limited definition of sustainable business practices makes it complex for the team to fully understand areas to work on more specifically in order to make the Greening Communities program effective. In addition, the information disseminated by the governments of different nations concerning environmental concerns is inadequate to raise awareness about the potential threats of various production activities undertaken by investors. This makes public support minimal, especially when mobilizing communities to assist in planting trees within their areas of residence.
Recommendations
Although Banyan Tree Group has done a great job in raising awareness about environmental conservation, it is imperative for the company to adopt new actions and measures that will inform the global community of the impending dangers of climate change. Based on the facts mentioned in this report, Banyan tree should do the following: partner with other investors in order to overcome the costs involved in the implementation of sustainable business practices because partnership can raise considerable financial support that can support an initiative such as Greening Communities and create awareness about the various environmental concerns across the world, work closely with the governments of the countries where its resorts are located in order to improve communication concerning environmental concerns that emanate from within the individual countries as this improves public support towards the group’s initiatives and offer incentives to the local communities participating in the Greening Communities program in order to make the initiative more sustainable and effective in different parts of the world. Giving incentives to management teams of different resorts could also improve their desire and commitment towards implementing the initiative in their regions more effectively. Additionally, the company should come up with a special team of experts that looks into the complexities of the program and give immediate measures that can guarantee smooth running of the program.
Conclusion
Based on the aforementioned facts in this report, it evident that sustainability is an important issue in the hospitality industry. Banyan Tree Ltd has been revolutionizing its activities towards sustainable development. The company has been quite effective in its efforts towards raising awareness about environmental concerns such as climate change. The group through its subsidiaries has been running the Greening Communities, a program that has increased the total number of trees planted annually across the world. These trees play an important role in the absorption, storage and processing of atmospheric carbon dioxide, which responsible for causing global warming. Despite the challenges of costs, government policies and internal factors, the company has made notable progress in its campaign of conserving the environment. Other than the environmental dimension of the company’s sustainability policy, empowering people through the seedling program and resource conservation under EarthCheck program have been other areas in which the company has contributed greatly in building a strong and healthy society. The EarthCheck program was silver certified in 2010 and gold certified in 2015. The activities of the group towards the society are in line with neoclassical theory of economic growth that defines sustainable development as development that maximizes the general welfare of the society. In essence, Banyan Tree Green Homes program is an initiative of its kind that has raised awareness about climate change across societies in the world. This effort should be emulated by other investors and governments in order to secure the survival of both the present and future generations.
References
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Sloan, P., Legrand, W. and Chen, J.S., 2013. Sustainability in the Hospitality Industry 2nd Ed: Principles of Sustainable Operations. Routledge.
Sedgwick, R. 2015. Sustainability and diversity. Banyan Tree Holdings Ltd Sustainability Report 2015. Retrieved from
https://Documents/Banyan-Tree-Sustainability-Report-2015-En.pdf
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