Responsible luxury business Research Paper Example | Topics and Well Written Essays - 2500 words

Responsible luxury business - Research Paper Example For holding their positions in the market the companies design their luxury businesses in sustainable way. This helps the firms to enhance the core values of their business. Sustainable business approaches of luxury businesses benefit the environment and their employees. As a result these companies are able to create strong position in market. This research paper deals with the luxury brand Gucci. Sustainability of this luxury business will be discussed in this paper. Various sustainable approaches of this company will be highlighted here. This research paper will focus on views of different authors regarding sustainability in luxury business. A business incorporates different standards for making its luxury business more sustainable. As per the authors, Crane and Matten, in the modern business environment sustainability has become an important factor for achieving growth and success. Sustainable business creates positive impact on employees, customers and society. With the help of sustainable approaches a company enhances its business activities. The authors state that in the changing business environment the luxury companies are focusing more on their responsibilities towards society, employees and environment. They are performing various activities which help them to portray their corporate social responsibilities. The products of the luxury brands are highly desired by people. These products are of high standards. For this reason the luxury companies maintain their standards by performing good social activities. Brand name or reputation of luxury business plays a vital role in selling their products. When this type of company performs various sustainable activities then its reputation gets enhanced and the po pularity of the brand increases. Therefore sustainable business processes of luxury business help the company to attract more customers (Crane and Matten, 2010). According to the authors, Moore and