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Sustainable Business Strengths & Weaknesses

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Question:

Discuss about the Sustainable Business Strengths and Weaknesses.
 
 

Answer:

Strengths

  • High mineral resources
  • Skilled resource
  • Sustainability
  • Global policy
  • Efficient operation
  • Cost saving
  • Essential for economy
  • Large quantity
  • Rich source of economy
  • Growing industry

Weaknesses

  • Lack of advanced technology
  • Old equipments
  • Poor infrastructure
  • High risk
  • Unsafe
  • Non-environment friendly
  • Dependent on other countries
  • Labour issue
  • Low pay
  • Business interruption

Opportunities

  • Innovation
  • Technological development
  • Joint ventures
  • Merger and acquisition
  • New opportunities
  • Mining in shallow depth
  • Government interventions
  • Export opportunities
  • Setting up new units
  • New mining sites

Threats

  • Energy usage
  • Water usage
  • Commodity volatility
  • Logistic issues
  • Local politics
  • New companies
  • Unstable economy
  • Natural disaster
  • Limited resources
  • Import of minerals
 

Sustainability strategy 

The sustainable strategies include the incorporation of the modern technologies, in the mining industry. This will ensure that the mining industry is sustainable. Moreover, the incorporation of the modern technology will be useful in the mining industry. Efficient operation and cost saving strategies needs to be taken up, such that the mining industry is retrieved and ensures sustainability. Innovation and innovative techniques in mining has to be incorporated, such that the mining industry of Australia is sustainable. Since labour is a major problem, hence manual labour needs to be reduced and replaced by automation. However, the water usage and the energy usage have to be reduced, such that the environmental sustainability is ensured.  

OR

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[Accessed 03 June 2020].

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