Novo Nordisk Management Case Study

Novo Nordisk is one of the few firms in the world, which is recognized for its sustainable management practices. The firm’s operations in the industry are influenced by value-based management approaches. The firm has effective corporate governance policies, which influence the way it relates with its customers and other stakeholders.Advertising We will write a custom essay sample on Novo Nordisk Management: Case Study specifically for you for only $16.05 $11/page Learn More It has instituted integrated reporting systems, which make it easy for the public to assess its operations. This allows external auditing of the firm’s systems to determine whether they satisfy sustainable management practices, which the firm aspires to achieve. The firm has a solid reputation in the industry because it was the first business firm in Denmark to release a corporate environmental report. This has strengthened the firm’s credibility in the industry ( Eccles Krzus 2012, p. 2). Novo Nordisk has set goals it seeks to achieve by building effective partnerships with other stakeholders. Therefore, the firm understands its responsibility to its clients. This has made it institute effective sustainable practices. Novo Nordisk compiles financial, social and environmental aspects related to its performance in one report every year. These three values are equally important to the firm’s strategic focus in the industry. The firm opens up all information related to crucial areas of its operations to the public, which shows it is ready to be more transparent and accountable. Thus, the firm has added value to products it manufactures because consumers are able to scrutinize the quality of processes used to produce them. The firm makes it possible for consumers to identify key issues that have an impact on the quality of products released into the market. This affects the way they consume these products. Novo Nordisk’s reporting systems make customers aware of what it plans to do in the future and how it plans to do it (Eccles Krzus 2012, p. 4). Therefore, the firm’s consumers and other stakeholders greatly influence the way the firm operates. The company has managed to build trust in the industry because it has effective quality control systems, which enable interested parties to audit its processes. The firm provides more information related to crucial processes on its website, which shows clearly what the firm intends to do within a specified period of time.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Its approach to the market is influenced by the need to balance between social, financial and environmental issues, which have an impact on the way it operates in the market. Novo Nordisk has made business ethics, a core issue, which guides its internal and external practices. These ethical practices ar e captured in the way it reports on different issues, which have a direct bearing on its operations. The firm’s employees have to ensure that the way they perform their duties conforms to internal and external expectations. This makes them respect the firm’s value–based work systems (Eccles Krzus 2012, p. 8). Novo Nordisk’s management approach has strengthened the way the firm relates with its customers. The firm is able to report on different activities related to its operations and how they add value to its position in the market. The firm’s management is in a better position to evaluate the relationship between financial and non-financial issues and their impact on the firm’s reputation in the industry. Integrated reporting of crucial activities helps managers review the level of commitment the firm has to different areas of its operations. This makes them evaluate the firm’s total performance in different activities (Eccles Krzu s 2012, p. 11). The firm also encourages its employees to be more accountable to themselves and internal quality systems established. The firm has established strong internal controls, which guide employees on ethical practices they need to observe as they perform their duties. Therefore, this makes them more willing to improve various production processes in the firm. The firm has set for itself different goals it seeks to achieve in its operations. The firm has pledged to reduce the amount of carbon dioxide discharged from its production processes by 10%. This is an ethical objective, which is closely related to the firm’s social and environmental strategies. Novo Nordisk has implemented efficient production systems, which limit the discharge of harmful waste products from its production sites into the environment. The firm has been able to streamline internal production processes to make them conform to its long-term objectives.Advertising We will write a custom essay sample on Novo Nordisk Management: Case Study specifically for you for only $16.05 $11/page Learn More The firm has also changed the way energy consumption patterns in production. Its production processes are mainly powered by renewable energy sources, which have reduced quantities of harmful emissions it releases into the atmosphere (Novo Nordisk 2011, p. 12). This has made the firm to work towards achieving its long-term social and environmental goals. Novo Nordisk’s manufactures medicine and other health products to the market. The firm has integrated social, environmental and financial targets in its operations and these factors impact greatly on innovation. Employees strive to make their output conform to the firm’s overall objectives because they contribute to the value of its products in the market. The integrated reporting approaches implemented by the organization allow it to sustain value in its social and financial processes. These processes make it possible for the firm to build effective relationships with other stakeholders in the industry and help it achieve its long-term strategies. Novo Nordisk has managed to align Corporate Social Responsibility goals with its core operations, which have benefited more people (Novo Nordisk 2011, p. 14). The firm has managed to increase the value of its brand in the industry because more customers are aware of its commitment to sustainable development. The firm has designed integrated reporting systems, which focus on the quality of its operations. Novo Nordisk’s management has instituted measures that monitor how internal operations help achieve set goals. This allows the firm to audit its operations after different time intervals to determine improvements, which need to be made. The firm has provided a model of management, which can be emulated by other companies operating in different industries. The triple bottom line’s focus on social, financial and en vironmental issues has made the company to work towards influencing the industry positively. This has made the firm more competitive in its industry because its sustainable production practices have helped it sustain the value of its products in the market (Novo Nordisk 2011, p. 20). Novo Nordisk’s integrated reporting policies allow the firm to provide a clear assessment on how its operations add tangible and intangible benefits to the society.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More In conclusion, it is fair to state that Novo Nordisk has managed to improve the value it offers its customers. The firm has made its operations more efficient and transparent. This shows that the firm has a strong commitment to its customers and other stakeholders who are directly affected by its operations. References Eccles, RG Krzus, MP 2012, ‘Novo Nordisk: a commitment to sustainability’, Harvard Business School Case 9-412-053, pp. 1-18. Novo Nordisk 2011, Financial, social and environmental performance report, Novo Nordisk, Bagsvaerd. This essay on Novo Nordisk Management: Case Study was written and submitted by user Bennett Odom to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

The drug war essays

The drug war essays Everyday someone is thrown in state prison for anywhere from 3 years to life for the "illegal" use of the drug known as marijuana. It has come down to it that thousands of pounds of marijuana are smuggled over the border of Mexico and into the United States. Regardless of the fight or struggle of people to insure the so said safety of our younger generations from the use of these drugs more and more comes into the Unites States. The use of the herbal drug marijuana becomes increasingly wide-spread. It's esteemated that over half of the kindergarden class of 2001 will have used marijuana at least once by the age of 18. While the goverment becomes increasingly concerned with the escalating use of marijuana, it isn't the only thing escalating. The goverment spends well over 100,000 dollars on the "drug war" each year. While our nations funds decrease from the war against hippies the facts are dismissed. Although marijunan is considered highly bad it isn't in the least damaging. Marijuana is used as an aid in eating and was at one point issued to aids patients. With the complete banning of marijuana people with aids flood to Canada or die from choaking on their own vomit. Many people look at this controversial issue and wonder why. Why not legalize marijuana for the use of aids patients? Why not save another life? Frankly why not legalize for everyone. The sell alone would pay for the drug war. ...

Are there any political implications for David Cameron, in regards to Essay

Are there any political implications for David Cameron, in regards to the current welfare reform policy - Essay Example His contributions to the current welfare policies are evident in the linking of benefits to wages, which have helped to cut inflation. David Cameron might have influenced the welfare reform policy when he implemented the twenty thousand dollars a year cap to help in housing benefits. Suggestions made by Cameron concerning young people not being entitled to benefits until they pay their contributions, might have contributed to the current welfare reform policies. However, there were some individuals who were against the opinion (Blond, 2009). Some of the reasons as to why this research topic is worth studying are evident from some of the claims that were made by Cameron concerning the welfare reform policy. For example, one of the claims by Cameron is evident from his statements when he claimed that claimants were supposed to undertake work in return for the benefits they had obtained within six months of unemployment. In his attempt to implement the welfare policy, Cameron also argue d that individuals, who were on the sickness benefit, were supposed find ways of improving their health to cut on the government’s expenditure. However, such proposals lead to debates from the public. There are also suggestions that were made by Cameron regarding the welfare reform policy that are thought to have had political implications. ... When he suggested that housing benefits be removed for persons under the age of 25 years. He also suggested that the issue of regional benefits be examined to fit the cost of living. It is thought that some of these proposals that were made by Cameron might have been a representation of his political shift in the management of the coalition. This is because sources indicate that Cameron did acknowledge that some of the proposals he made could not be delivered in concert with the liberal democrats. Cameron also stated that some of the proposals that were made had to wait for a conservative majority of the government until the year 2015. Cameron might have had political implications because he stated that his intentions were to set out the country for the next election (Daguerre, 2005). Research suggests that Cameron might have had political implications, because of reactions that were obtained from other politicians like Danny Alexander. Who claimed that to ensure the welfare reform p olicy is implemented, focus should be placed on the introduction of universal credit. This research question is worth studying because it is evident that arguments have been arising concerning the implementation of the welfare reform policy. Cameron insists that other politicians should not use compassion to measure the size of the welfare cheque. Young people aged 25 years also think that Cameron was against their development when he advocated for a stop in their housing benefits. Other politicians also argued that implementing the welfare reform policy by cutting the tax credits was wrong (Davies, 2007). Academic research carried out on the topic reveals that there were political implications of the welfare reform policy. This is because some of the