Quitbit Case Study Help
Q.1 Assuming you are an entrepreneur who developed this innovative product, explain the conceptof sustainable performance. How can Quit bit potentially achieve sustainable performance based on the triple bottom line (3BL)?
Concept of sustainable performance:
Sustainability is primarily defined as the economic development of a product or organization that is aimed to meet the needs of today’s generation with no compromise on the capability and opportunity for future generations. The sustainable performance mainly include performance of customers, environment, social, learning and growth, and internal business process. (Ogendo, 2017)The emergenceof sustainability as a strategic approach and to make sustainability an integral part of the business strategy of an organization for obtaining the bottom-line benefits.(Sebhatu, 2009 ) The triple bottom line approach is known to add both environmental and social dimensions to the economic results for the measurement of organizational performance based on a sustainable perspective.Whereas social dimension is considered as complex and critical for the sustainability performance. (Flavio Hourneaux Jr, 2018)
Achieving Sustainable performance for Quitbit:
Based on the triple bottom line (3BL) concept, sustainable performance can be created by the application of sustainable principles. The triple bottom line approach is also referred to as three pillars i.e. profit, planet, and people. The business performance is, therefore, required to be based on triple bottom lineas it has the capability of summarizing how business operations should be conducted versus the current pattern of business operations chosen by the organization. (Montilla, 2013)
Considering the economic impact of Quitbit, the product is designed as the smart lighter that is aimed to help an individual to quit smoking. Reducing the prevalence of smoking in countries around the world tends to be associated with numerous benefits. Such benefits refer to the losses that can be avoided by the people resulting in cost saving. It has also been stated that smoking cessation interventions in association with the legislations and regulations are considered as the effective ways to bring reduction in the smoking prevalence.
Reduced smoking is related to bring reduction in the healthcare expenditures of a country i.e. about 15 percent in high-income states. For instance, 6 to 18 percent in the United States and 5 percent in the United Kingdom. Similarly, the economic burden in terms of GDP has significantly that smoking accounts for 0.7 percent of GDP in China as compared to 1 percent of the United States. (Brown, 2015)Thus, reduction in the adult smoking in known to pay more immediate dividends both regarding the cost savings and health improvements. (Glantz, 1997)
Due to this reason, the development and promotion of Quitbit provides the opportunity to collaborate with the government of the states such as China. As the product has been currently manufactured and tested for its effects in China. This would not only bring improvement in the economic growth but would promote the increased sales. This is primarily based on the fact that majority of the individual smokers are seeking out ways to manage their smoking habits and the manufacturing costs are lower in China.
More the sales of the lighter, more will be its contribution to the Chinese economy. A significant improvement in the management of life goals is also known to be mainly associated with high quality of life. On the other hand, the growth of the organization would result in creating employment opportunities in order to maintain a sustainable growth in the industry based on the use of green technological approachthrough reduction in smoking frequencies leading to high return on investment………………………………………….
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