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QUESTION 3 By [Name] Class Name Professor University State and City Date Introduction Sustainability in business refers to enterprises' influence on society or the environment. To address critical global challenges, a sustainable business plan aims to positively impact one or both of these domains (Calandra et al., 2023, p.1405). Modern firms prioritise sustainability as crucial for their success in the ever-evolving market. By implementing sustainable practices, organisations can enhance their reputation, foster innovation, boost profitability, and preserve the environment and wildlife (Yahdiyani et al., 2023, p.327). This paper will examine Tesla Inc. as a case study, analysing the elements that drive their efforts to establish a sustainable corporation and the hurdles they encounter. Tesla is an ideal example due to its production of environmentally clean and ecologically sustainable vehicles and active participation in the automotive and energy sectors. This essay will discuss a firm's hurdles when establishing sustainable operations. These obstacles include financial issues, organisational and cultural barriers, and technological limitations. This article aims to assess Tesla's sustainability policies and analyse several methods to measure their effectiveness by reviewing their approach. Theoretical Discussion Motivating Factors to Business Being Sustainable Economics There is a connection between reporting regulations for sustainability and the economic expansion of a business's originating country. Nations with thriving economies typically possess more advanced institutional and social structures that promote sustainability (Gavsi, 2023 p.24). Consequently, corporations in these countries may have a greater capacity to distribute resources towards sustainability and may also face heightened public demands to disclose sustainability-related issues. Adopting sustainable practices can reduce costs by reducing waste, conserving resources, and lowering energy use. Companies prioritising sustainability will gain a long-term advantage over their competitors and operate with lower costs (Al Darwish, 2023, p.18). Consequently, these companies will be more financially lucrative. In addition, businesses that effectively include sustainability initiatives can expand their networks of stakeholders, including employees, customers, suppliers, and local communities. In the present day, the measure of sustainability is confirmed by many means by those involved, and organisations that succeed in sustainability have an advantage due to attracting more loyal and dedicated clients (Smeets, 2022, p.11). Laws and Regulations The impact of regulations and legislation on environmental and business practices is significant (Ginesti et al., 2023, p.102149). Government policies and laws significantly impact the structure and strategies that firms choose to achieve their sustainability objectives. This action encompasses the favourable aspects of being a responsible environmental participant in society and corporate activities. However, it might be argued that a country's legal system, whether it follows common law or civil law, can significantly influence its impact (Ochirova et al., 2024, p.978). The primary authority to bind a firm to administration regulations in America is vested in the Environmental Protection Agency (EPA) and Presidential Executive Orders (2021). The EPA's actions prompted the emergence of non-governmental organisations like Greenpeace, the Natural Resources Defense Council, and the Environmental Defense Fund. These organisations sought to accomplish their goals by advocating for the enactment of regulations, including the Clean Water Act and Clean Air Act. While NGOs lack the authority to compel firms to accept their proposals, they can still influence corporate behaviour through lobbyists and customer support, thereby effecting change. Customer Behavior/Pressure Elkington, in 1998, brought attention to the concept of the "triple bottom line," emphasising the importance for firms to focus on three key areas: financial gains, social well-being, and environmental sustainability. Customers are inclined to choose items or services that align with their ideas since they are now better informed about how their actions affect the environment (Hegab et al., 2023, p.578). Businesses that effectively address these challenges have the potential to enhance their brand visibility and cultivate stronger consumer loyalty. According to a poll conducted by Deloitte, 60% of customers in the UK reduced their consumption of single-use plastic in order to embrace a more ecologically conscious lifestyle (Sheykhan et al., 2024, p.810). Brands with good sustainability credentials attracted 30% of UK customers. In order to remain pertinent in the future, any enterprise must incorporate sustainability into its corporate strategy, as the global demand for sustainability is projected to increase. Technology and Innovation Companies situated in countries with higher levels of technical innovation and knowledge creation have larger knowledge repositories and capabilities, which they can utilise to embrace and advocate for sustainable management techniques required to achieve the Sustainable Development Goals (SDGs). Prior research has shown a positive relationship between research and development (R&D) activities and corporate social responsibility (CSR) due to the need for investment in sustainable production systems and the development of new technologies that address sustainability issues (Tiwari et al., 2023, p.3289). Moreover, countries with greater innovation performance are expected to take the lead in the ongoing technological competition, which is increasingly focused on creating sustainable breakthroughs across many industries. Challenges to Being Sustainable Cost Financially-oriented firms often overshadow small and medium-sized e...