Non-Market Issue Encountered by a Business, an Organization, or Industry
The second paper offers an opportunity to apply these concepts and tools, to investigate the nonmarket environment, and to develop political strategies.
Your submission should address a nonmarket issue encountered (in the past, present, or near future) by a business, industry, or other organization (e.g., non-profit, advocacy group, etc.) of your choice, applying concepts and tools covered in the course.
The nonmarket issue you choose will likely be a public policy: a provision in a law, a regulation, or a court decision. However, it does not have to be. As we will see in the class session on private politics, there are nonmarket institutions and strategies that do not involve government directly: e.g., self-regulation by a private industry association, public interest activism aimed at changing the practices of a business.
Your thesis should argue in favor of or against a business, industry, or organization adopting a nonmarket strategy with a particular objective. Explain how the organization will benefit from this objective and why the strategy will likely succeed.
Here are some sources of the articles we have read in the past few weeks in class:
If you need more I can provide more. You don't have to use these. You can find better sources to fit the paper.
https://www(dot)researchgate(dot)net/publication/265202255_What_Every_CEO_Needs_to_Know_About_Nonmarket_Strategy
https://www(dot)washingtonpost(dot)com/politics/2022/07/26/manchin-climate-biden-democrats/
https://www(dot)reuters(dot)com/legal/legalindustry/supreme-court-willingness-reshape-law-creates-opportunities-challenges-2022-07-20/
https://www(dot)wsj(dot)com/articles/ftc-may-test-the-courts-limits-meta-lina-khan-roberts-nondelegation-major-questions-enforcement-authority-humphreys-executor-administrative-law-noncompete-11659979935
Non Market Issue Encountered by a Business, an Organization, or Industry
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Introduction
In business, strategies that may appear viable could fail if there is minimal understanding of the forces that govern the nonmarket environment. Nonmarket strategy significance is rising with consumers' attention to issues that affect them as entities face unpredictable, uncertain business environments (Linnenluecke et al., 2011). For example, Google has committed to using 100% renewable energy for its operations and has invested in renewable energy projects worldwide. It has also implemented energy efficiency measures such as LED lighting and intelligent building technologies. Last but not least, it has invested in carbon capture and storage projects and is working to reduce emissions from its supply chain (Google Data Centers, 2022). Since climatic policies that would regulate organizations' stances in the market are not fully implemented, firms must develop a carbon emission reduction strategy to achieve a competitive advantage. Therefore, this work argues in favor of Google's non-marketing carbon emission reduction strategy by showing how it will benefit and how the initiative is likely to succeed.
How Google will Benefit from Carbon Emission Reduction Strategy
Scientific studies associate global warming with emissions of harmful gases that result from human activities, specifically those attributed to carbon released from burned fossil fuels (Batten, 2018). Therefore, by acting on its values of sustainability, Google can show that it promotes climatic change efforts and is committed to decreasing its environmental impact.
There are various benefits that Google is likely to experience by adopting a carbon emission reduction strategy (GDC, 2022). These benefits include commanding public reputation and favorable government policy and regulation. Regarding public reputation, by adopting a carbon emission reduction strategy, Google will portray an image of a responsible and sustainable entity committed to reducing its environmental impact (SINGH, 2022). This will help improve the company's reputation among consumers, investors, and other stakeholders. Consumers are increasingly looking for companies taking steps to reduce their environmental footprint, and this strategy could help Google stand out from its competitors (Kong et al., 2002). Additionally, the strategy could help Google build trust with its stakeholders, as they will see the company as a responsible and ethical business.
Therefore, by acting on its values of sustainability, Google can show that it promotes climatic change efforts and is committed to decreasing its environmental impact. Concerning government policy and regulation, Google will be able to gain more favorable treatment from authorities and regulators worldwide by taking action on climate change (Pinkse & Kolk, 2010). Moreover, governments are increasingly taking action to reduce carbon emissions. By demonstrating its commitment to reducing its emissions, Google can show that it is committed to these emerging policy initiatives. Additionally, the company can influence policymaking and access government subsidies quickly. This could give Google a competitive advantage in the market, as it will be able to capitalize on the incentives that governments provide to businesses taking action on climate change.
Why the Strategy Will Succeed
The potential environmental benefits of Google's carbon emission reduction strategy include reduced air pollution, improved air quality, decreased greenhouse gas emissions, and improved global climate. Additionally, it could lead to reduced water pollution, improved water quality, decreased land degradation, and increased biodiversity. Other benefits entail increased renewable energy use, reduced dependence on fossil fuels, and increased energy efficiency. The carbon emission reduction strategy could lead to reduced health risks associated with climate change and decreased economic losses due to extreme weather events. Moreover, it is good for the company to know its actions' value (Greenwood, 2007). Therefore the company public must be transparent and open about its plans and progress. The firm should clearly outline its goals and objectives and provide regular updates on its progress. Besides, it should engage in meaningful dialogue with stakeholders, such as environmental advocacy groups and other businesses, to answer questions, provide feedback, and build relationships. Google also has several assets to help with its activities related to its nonmarket strategy of reducing carbon emissions. Firstly, due to its size and influence, Google can reach a large audience and use its platform to spread awareness and advocate for change. Secondly, Google has access to a range of resources, such as data, analytics, and computing power, which it can use to develop and implement new strategies and technologies. Finally, Google also has significant financial resources, which it can use to fund research and development and support initiatives related to reducing carbon emissions.
Similarly, the nonmarket strategy of reducing carbon emissions will likely succeed for several reasons. Firstly, the climate is an issue of great concern to many citizens, governments, and businesses. Therefore, there is a great deal of public support for any initiatives to reduce carbon emissions. (Song et al., 2015). In addition, by promoting sustainable development, Google will employ clean technologies with less carbon print for a better and clean environment. In most cases, government regulations tend to address the existing harms that might act as barriers to creativity and innovation following the establishment of norms that govern current practices (Budzinski et al., 2018).
Secondly, there is an ...