diff_months: 11

Ethical Business Strategies and Innovation in a Globalised Economy BUS4032

Download Solution Now
Added on: 2024-10-28 09:56:28
Order Code: CLT331138
Question Task Id: 0
  • Subject Code :

    BUS4032

1.Introduction

Screenshot_761-1730107039.jpg

Figure 1: 5 years financial per
(Australian Security Exchanges 2023)


Screenshot_762-1730107141.jpg

Figure 2: Kelsian Share Price performance
(Source: Australian Security Exchanges 2023)

This report uses business decision-making, CSR, diversity and inclusion, and AI perspectives for the analysis of Kelsian Group Ltd, the key Australian transport and tourism company listed on the ASX. As the operations of companies are becoming regulated in order to integrate them into sustainable development goals (SDGs) ethical decision making and technological innovation, this practice is going to be an important case study for understanding Kelsian's strategies. The company, Kelsian Group Ltd, faces stiff competition from companies such as Transdev and SeaLink Travel Group-both operating within public transport and tourism. The companies primarily operate within Australia, Singapore, and the UK. Figu 1 and 2 Shows financial performance of Kelsian in last 5 yesrs. The general short-term strategies are on maximizing the operational efficiency of the services and delivery by scaling the services while long-term strategies concentrate on sustainability, digital transformation, and winning international public transportcontracts.
The report shall analyse and discuss how Kelsian addresses its responsibility to the ecological, social, and economic systems, evaluate its commitment towards diversity and inclusion in the globalised workforce, and assess the role of AI in the enhancement of business efficiency. Using critical analysis, the report shall identify major opportunities for Kelsian to strengthen itscompetitive advantage, followed by aligned recommendations with emerging trends. As the analysis culminates, it clarifies how business organisations can grow in the age of high expectations regarding sustainability, technological involvement, and cultural sensitivity.

2.Corporate Social Responsibility
Critical Analysis and Evaluation

Screenshot_763-1730107307.jpg

Figure 3: Kelsian Group Ltd Logo
(Source: Kelsian Australian Cyber Collaboration Centre, 2022)

To sustain the competition, Kelsian has to continuously assess internally and externally what goes on in the business (Kelsian, 2019). Kelsian is in a marketplace whose tastes change randomly, regulations change, and technology is constantly in flux. Evaluating how it takes advantage of these factors (Kelsian Australian Cyber Collaboration Centre, 2022) becomes pertinent. Evaluating further still, however, points to the investment in renewable energy as something it must develop much more strongly if it will reduce its carbon footprint (Day et al., 2021). Furthermore, Kelsian relies on government contracts and partnerships.

Analytical Thinking (AoL 3a Analysis and Problem Solving)

Analytical thinking will become a critical component of business decisions by Kelsian, and the company will need to constantly rely on data to treat its operational challenges and opportunities. Kelsian has moved toward modernising its fleet and introducing sustainability initiatives, but analytical approaches need to be applied beyond upgrading the fleet to include market analysis, technology adoption, and risk management (Kelsian, 2024). The low-carbon economy is an area of concern for Kelsian (Kelsian-group-limited, 2022). . From the available evidence, transport and tourism fall among the sectors that significantly pollute the atmosphere, and they are, therefore, some of the concerns that need to be addressed.

CSR (AoL 2a Ethical Reasoning and SDGs)

Screenshot_764-1730108056.jpg

Figure 4: The Model of CSR drivers
(Source: Shayan et al., 2022)

Kelsian CSR - Drives business choices as rooted in ethical thinking and the UN's SDGs. As one of Australia's major operators for transport and tourism, Kelsian has a rather huge ecological footprint. CSR though is also beyond mere ecological sustainability; it also addresses social and economic responsibility aspects. The commitment of Kelsian to sustainability in transport aligns with SDG 11 (Sustainable Cities and Communities) and SDG 13 (Climate Action) (Greenland et al., 2023). With the investment in electric buses and low-emission ferries, Kelsian is contributing to reducing urban air pollution and combating climate change. Yet, being socially responsible goes beyond mere environmental impact.

Ethical Reasoning and Sustainable Development Goals (SDGs)

Screenshot_765-1730108287.jpg

Figure 5. Incompatibility of economic and social SDGs with environmental goals
(Source: Greenland et al., 2023)

The business practices of Kelsian expose it to awareness of diverse responsibilities, including ecological sustainability and ethical labor practices (Albitar et al., 2023). From a moral point of view, the move by Kelsian to reduce its ecological footprint through electric buses and green ferries is in line with the achievement of SDG 7: Affordable and Clean Energy and SDG 13: Climate Action. This helps in validating the understanding of environmental duties connected with all corporate practices and exemplifies theeffective application of the principle of minimising harm from an ethical perspective (Greenland et al., 2023). Ethics analysis of the operations undertaken by Kelsian would similarly conclude those areas that could be bettered over time.

3. Diversity and Inclusion (AoL 1b Diversity and Inclusion)

Screenshot_766-1730108729.jpg

Figure 6: Inclusive Framework
(Source: King et al., 2023)

D&I is one of the hottest issues in modern business, and Kelsian has, at least on paper, demonstrated to be highly aware of these same concepts within its workforce and operations. Yet more intensive reflection brings into focus areas where Kelsian should delve deeper into commitment in these areas, most specifically at the leadership level and within decision-making (Marshall et al., 2022). The industry Kelsian operates within directly engages with diverse communities. Thus, it is only proper that it reflects the multicultural society it operates. While the firm has been able to promote gender diversity and inclusiveness, deeper analysis would show that its upper management levels are not yet well diversified in terms of culture (King et al., 2023). Acceptance of diverse leadership may then give Kelsian more diverse perspectives that will aid them in making more business decisions culturally sensitised.

More than that, one approach in building D&I for Kelsian is the use of mentorship, leadership development, and recruitment efforts aimed at how they can advance diversity. Anything short of these practices would deny underrepresented employees the chance of career opportunities and growth in the organisation (Marshall et al., 2022). The company will have to learn and respect the norms of different cultures while managing business in other regions. By developing a cultural sensitivity program for its employees and employing inclusion in the marketing of products, Kelsian will establish a closer connection with customers and partners around the world.

To consolidate its competitive advantage, Kelsian Group Ltd should focus on three strategic steps. Firstly, it should invest in solar-powered transport infrastructure and carbon offset programs to expand renewable energy initiatives (Kelsian, 2019). The expanded diverse leadership will bring in more diverse views and cultural sensitivity into the decisions as well as innovation. Third, fully deploy AI across all operations while ensuring to use ethical safeguards such as running frequent bias audits and strong data protection systems (Petar Radanliev et al., 2024). Thus, through the changes in the global transport and tourism industries, taking such proactive steps will make it possible to let Kelsian be one of the industry frontrunners in sustainability, innovation, and inclusivity.

4. Artificial Intelligence (AI) and Its Impact (AoL 5b Digital Expression)

Kelsian also has AI significantly integrated in today's business. The firm started using AI technologies so that it could gain a better interface with the customers, operate at a higher efficiency level, and make better decisions. However, from a critical evaluation, this paper illustrates both opportunities and challenges arising from the application of AI in the firm's operations of Kelsian. AI helps Kelsian streamline operations, mainly on the use of predictive maintenance, customer service, and route optimisations (Petar Radanliev et al., 2024). Using AI algorithms can forecast when vehicles need maintenance that otherwise entails downtime and try to make them more efficient in total fleets (Sinha & Lee, 2024). With the advantages that AI has adopted, it still has its key challenges. Number one is the potential whereby AI can expose bias. Bias may be differential treatment on customer or employee grounds. For instance, if an AI system fails to get calibrated, it could merely uphold existing biases in hiring persons or dealings with customers (Sinha & Lee, 2024). Kelsian must ensure that all its AI systems are audited regularly so that it identifies and eliminates any bias so that it can deploy technology in ethical and inclusive ways. Kelsian's reliance on AI raises a question regarding data privacy (Kelsian-group-limited, 2022). As AI systems collect hundreds of pieces of information about the customer's preferences and behaviour, The critical analysis done on the role of AI in its operations helps Kelsian use this technology in streamlining innovation with all due ethical considerations considered. In addition, from a moral perspective, Kelsian should not allow its quest for AI innovation to exacerbate inequality (Kelsian, 2019). The ethics surrounding AI adoption decision-making must, therefore, avoid biased algorithms, guarantee the user's data protection, and see that technological adaptation advantages all and sundry. Analytical thinking can also help Kelsian open out ways of cost-cutting, such as optimised routes and routes facilitated by AI and data analytics, reduced fuel consumption, and predictive maintenance requirements (Radzi et al., 2018). Political or economic revamps may weaken Kelsian's reliance on government contracts (Kelsian-group-limited, 2022). It will experience an opportunity to analyse its diversification of the customer base by entering into new markets, broadening digital services, and closing alliances with local businesses (Kelsian, 2024). Such strategies would make Kelsian immune to unforeseen economies of scale while giving scope for expansion. Embracing AI and big data technology would mitigate all the operational problems the company could be facing.

5. Self-reflection and Professional Identity

These last six months have been very eye-opening when it comes to changing my professional identity and perspective regarding current business practices. To be honest, from the get-go, I was highly interested in how the course merged the formal base with some emerging trends, like artificial intelligence, corporate social responsibility, and diversity and inclusion. Throughout the lectures, assignments, and discussion forums, I have learned not only how these concepts affect business decisions but also how they affect a greater societal challenge: sustainability and ethical leadership. I believe one of the most significant shifts in my perception was in the discussion regarding how AI and technology changed industries. I thought, before this course, that AI represented a capability to make operations better. However, a couple of weeks later I realized that AI is a lot more complicated and reaches very intriguing ethical questions, such as bias in decision-making, data privacy, and even potential inequality reinforcement. For example, Kelsian Group Ltd's analysis demonstrated how AI can be a great means of operational optimization at the same time raising the moral issue regarding customer and employee treatment.

I was equally inspired and challenged by the topic of CSR. I thought, initially at least, CSR was a secondary consideration of business; a means of keeping the public and all other stakeholders happy more than anything else and little more than a "feel good factor.". This came about, particularly when discussing the United Nations' Sustainable Development Goals (SDGs), where CSR began to be included in long-term company strategy. For instance, while Kelsian Group invests in electric buses and low-emission ferries, such investments show that businesses do contribute to direct climate action with the capability not to forgo profitability. This has transformed my view for sure because I have started thinking that doing just the least damage is not a responsible business but creating value for society.

Diversity and inclusion were another such area of importance that transformed my thinking on the subject. While I have always appreciated the importance of D&I, I had never really thought very deeply about how it could be a powerful driver of innovation and better business decision-making. From the various discussions on Kelsian about leadership diversity, I came to learn how a lack of cultural and gender diversity at the upper management level could strictly limit the company in terms of reaching a wider audience and making culturally informed decisions.

The hard part was when profit came in the way of social impact. Sometimes it was hard to take in the notion that profit and its moral obligations can be balanced. With several case studies and peer discussions, I started to believe that such balance is possible through strategic thinking and long-term planning. It keeps reminding me that business decisions must be taken from an ethical perspective, where profitability cannot be unjust to social or environmental components.
As such, I am even more committed to researching how companies can embrace responsible AI and D&I as a means of innovation. In addition, I would be interested in exploring further the intersection of ethics, technology, and sustainability in my future work. Overall, this semester has really posed a reflection in my thinking on issues and has sparked me to venture into challenging any of the traditional paradigms used in business by bringing in new perspectives, based on which I will approach my future career with a great deal more responsibility.

6. Conclusion

In summary, Kelsian Group Ltd iscommitted to CSR, diversity, and inclusion, while using AI for operational efficiency. However, upon closer scrutiny, it exhibits several areas that require improvement. If Kelsian develops its renewable energy programs, increases the leadership diversity stream, and takes responsible AI adoption practices, then it can secure the sustainability and competitiveness of this group. Such an action will keep bringing the company closer in harmony with Sustainable Development Goals (SDGs) while, at the same time, driving innovation and inclusivity. Given the fast-changing nature of the industry, strategic steps such as this one will help Kelsian absorb changes by maintaining long-term success and resilience in markets both domestically and internationally.

Are you struggling to keep up with the demands of your academic journey? Don't worry, we've got your back!
Exam Question Bank is your trusted partner in achieving academic excellence for all kind of technical and non-technical subjects. Our comprehensive range of academic services is designed to cater to students at every level. Whether you're a high school student, a college undergraduate, or pursuing advanced studies, we have the expertise and resources to support you.

To connect with expert and ask your query click here Exam Question Bank

  • Uploaded By : Nivesh
  • Posted on : October 28th, 2024
  • Downloads : 0
  • Views : 155

Download Solution Now

Can't find what you're looking for?

Whatsapp Tap to ChatGet instant assistance

Choose a Plan

Premium

80 USD
  • All in Gold, plus:
  • 30-minute live one-to-one session with an expert
    • Understanding Marking Rubric
    • Understanding task requirements
    • Structuring & Formatting
    • Referencing & Citing
Most
Popular

Gold

30 50 USD
  • Get the Full Used Solution
    (Solution is already submitted and 100% plagiarised.
    Can only be used for reference purposes)
Save 33%

Silver

20 USD
  • Journals
  • Peer-Reviewed Articles
  • Books
  • Various other Data Sources – ProQuest, Informit, Scopus, Academic Search Complete, EBSCO, Exerpta Medica Database, and more