Meeting the Challenge of Sustainable Business Essay

Meeting the Challenge of Sustainable Business - Essay Exampletly, the paper recommends that the NIOC would respond through prioritized strategies increased environmental preservation programs, building technological capabilities, expanding programs for socioeconomic concerns, monitoring Irans geopolitical status as well as adjusting operations to cope in a stringent legal environment. This approach would ensure sustainability by minimizing unfavourable uncertainties.The world(prenominal) business environment is very dynamic and render trends that could lead to the failure of the business. compend of the recent trends could give insight on future trends in the business environment and enable planners develop long-term sustainable strategies for their company. This is important to ensure the businesses do not experience undesired difficulties that may lead to failure or decreased profits. The current business scenario for the oil industry could provide rich breeding on the anticipa ted scenario in the long future and enable oil firms such as the National Iranian Oil Company (NIOC) develop powerful sustainable strategies. The present oil business environment experience changes in geopolitical, technological, socioeconomic, legal and environmental factors useful in developing sustainable response strategies for a firm. Current trends include increased environmental concerns due to pollution of oil products and practices of cutting costs to increase competitiveness. There are global politics on Irans oil supplies associated with involvement in the manufacture of nuclear weapons as well as support for terrorism. This paper will discuss about the present oil business scenario for NIOC to project the scenario in 2055 and develop sustainable response strategies for the companys future scenario.The global oil industry experience immense concerns over the negative impacts of oil on the environment. Oil is the main source of pollution through emissions of carbon dioxi de gas, which the main contributing factor in global warming