Sustainable Corporate Strategy: Ryanair

Introduction

In competition there is motivation in every company to improve and develop their objectives. For an enterprise to succeed in global competition there is a continuous plan to develop new products with higher quality than its competitors. (1993) analyzes that new product and new business development must be highly effective and efficient, however that alone won't ensure its competitiveness. It must be supported with a suitable culture throughout the enterprise. It must have a group of body that supports, encourages, and promote innovation for the company to succeed in the end.

Corporate World is very classy and every move they made seems to make an impact on the life of the people. Every aspects of our everyday world have been influenced by modernization, consequences of countless business decisions. Business activity integrated into our way of life, and culture changes in accordance to the rapid growth of "business culture". In other words, people are one of the main reasons why corporations and different business establishments seek to develop different strategies that will make them stand out among their competitors so as to maintain and sustain their existence. They want to create an impression so that people will patronize their products and eventually lead them to financial success.

This paper discusses and analyzes the sustainable corporate strategies that Ryanair adopted in order to remain competitive and the subsequent benefits it contributed to the growth of the business.

Q.1) Outline contemporary views of the terms "sustainable' as it apply to large companies. On the basis of what is presented in the case, give your views as to whether Ryanair was a 'sustainable' company in early 2004?

Prior to the common use of the term sustainable industries, the terms sustainable economy and sustainable development were common. They coined the most broadly used definition of sustainable development as, development that meets the needs of the present without compromising the ability of future generations to meet their own needs (1996; 1997). Sustainable development demands that the search for ways of living, working and being that allow all people to guide vigorous, satisfying, and economically safe lives without destroying the environment and without endangering the potential interests others (1997). Sustainable development is an economic state where the demands placed upon the environment by people and commerce can be met without reducing the capacity of the environment to provide for future generations; is economic development that has a positive long-term social and/or environmental benefit; and meets the needs of the present without compromising the ability of future generations to meet their own needs (1994). People anxious about sustainable development recommend that meeting the needs of the future depends on how well we