Will Canadian firms learn from these Austrian principles of sustainability, or is our natural course to be following the states.
- McKenna and Hind
Wednesday, May 1, 2019
Blog 2 - McKenna and Hind
Fritz Wieninger talked very passionately about his vineyard and how he does his best to help the environment as much as he can. Corporate social responsibility is evident in the works of the vineyard by the biodynamic process that they use. The biodynamic process is a form of organic agriculture that revitalizes the soil to give the wine an incredible taste and the soil a longer lifespan. The process is not necessary in Austria but Mr. Wieninger believes he has a duty to protect and enrich what he can. He also has installed solar panels on his property and is planning to invest in renewable energy. He believes that in the near future the winery will become almost completely sustainable. CSR is important to the internationalization of firms because modern consumers are becoming more and more concerned with products that are sustainable. Consumers are willing to spend the extra money on products that are ethical, sustainable and that give back to the community. A business that is ethical and supports the environment gives back to society by investing in society which ultimately has a beneficial return on everyone else. The winery is a perfect example of how being socially responsible pays off and creates success, as how wine is very popular and sources ethically and sustainably.
Will Canadian firms learn from these Austrian principles of sustainability, or is our natural course to be following the states.
- McKenna and Hind
Will Canadian firms learn from these Austrian principles of sustainability, or is our natural course to be following the states.
- McKenna and Hind
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Consumer trends seem to drive the economy these days and the movement towards organic and biodynamic products has been continually increasing. In addition, consumers prefer products that contribute towards corporate social responsibility, which essentially means going above and beyond the minimum standards outlined by public policies and the social expectations demanded by consumers. Fritz Wieninger has developed an organizational image that incorporates biodynamic farming practices into the production process. Essentially, biodynamic processes are the quintessential benchmark when considering expressions of corporate social responsibility within the agricultural industry. During professor Hafners lecture the overall tolerance for Genetically Modified Organisms (GMO) within Austria and the entire European Union (EU) was discussed and the overall acceptance of GMO products within the European Union is quite low. Therefore, maintaining neutrality with respect to GMO products would be key to the EU market.
ReplyDeleteThe underlying philosophy behind biodynamic practices was developed over one-hundred years ago, and adoption into the farming industry has been relatively slow. However, responsible farmers like Fritz Weininger truly inspire others to promote sustainable products throughout the marketplace. In addition, the process of globalization has created opportunities for sustainable and biodynamic products to reach consumers throughout the global market including North America and the European Union. Considering the recent trends in consumer behaviour, producers and manufacturers who create universal products targeted towards global consumers will certainly experience success. Personally speaking, we believe that Canada should continue to develop safe and healthy products for consumers in all markets regardless of the practices utilized by Austria or the United States. Basically, Canada should blaze the trail in this unique market segment, not follow the current industry leaders.
John and Cassidy