Evaluate what ways these policies might help the industry as a whole.

I need help on how would implementing these policies allow the company to be an industry leader?

I have to explain why becoming an industry leader is important.

My company I am analyzing is Stryker Corp.

Here is my paper:

When determining the state of an organization's health, it is necessary to consider all three components of the "triple bottom line"; people, profits, and the environment. This requires taking into consideration the ways in which the organization's policies and practices impact its workforce, their surrounding environment, and their bottom line. For an organization to be successful, it is necessary to be conscious of the impact that it has on all three of these areas.

III. Relationships

1. People: Having a strong Diversity, Equity, and Inclusion (DEI) program can significantly improve stakeholder relationships for any company. Improving stakeholder relationships through initiatives in diversity, equity, and inclusion can lead to many benefits in the future for the company by improving customer and employee satisfaction. Here are some recommendations for Stryker Corp to consider:
   1. Diversity: Encourage diversity in all levels of the organization by implementing policies to attract and retain qualified employees from different backgrounds. Stryker Corp. can promote diversity by offering inclusive recruitment practices, for example removing bias in the job descriptions, actively recruiting from diverse networks, and investing in employee resource groups to support diverse employees.
   2. Equity: Stryker Corp can promote equality by implementing policies that make sure all employees are treated fairly, regardless of their background. Some examples of this are equal pay for men and women, benefits, and promotion opportunities for everyone.
   3. Inclusion: Foster a welcoming and respectful culture for all employees. One-way employees can feel that their ideas or opinions are heard is to promote inclusive behaviors like active listening and communication and encouraging diverse points of views.

1. Planet:In the last several years, environmental policies have moved to the fore front of a company's business plan in order to minimize their environmental impact, creating a culture of corporate responsibility, and maintaining positive working relationships with stakeholders. Stryker Corp needs to work to establish and implement a strong environmental policy which reduces their environmental footprint and increase their sustainability efforts. One way to do this is to commit to reduce the amount of energy and resource consumption, reduce the waste used and take steps to reduce carbon emissions. Stryker Corp leadership should work with local stakeholders to ensure that their environmental policies are developed to meet the needs of the communities they live in. One way to do this is to involve local environmental groups and community members to ensure that their environmental policies are appropriate and beneficial for the community. Stryker should monitor and report on their progress of their environmental policies and look to see that they are reaching their goals. These environmental policies would also benefit Stryker Corp by demonstrating a commitment to corporate responsibility, which would enhance their relationships with company and local stakeholders. By reducing their environmental footprint, Stryker Corp would be helping to reduce air and water pollution, reduce waste, and reduce the consumption of natural resources. This would greatly improve the quality of like in local areas they have facilities in as well as providing economic benefits.

1. Profit:The benefit of profitability to a company's stakeholders is that it increases their return on investment andallows the company to reinvest more back into the company. To become profitable, Stryker Corp should consider a few adjustments. These could include streamlining processes, reducing overhead costs, and developing new products or services. Also, Stryker Corp could outsource certain processes or tasks to reduce costs and efficiency. One possibility could be to automate certain processes or delegate work who have the experience or skills. Their increase in profitability may also be in developing new or improved products. Investing in Research & Development in the present could reap significant benefits in the future. Engaging with the stakeholders of the company making sure their voices and opinions are heard should be a priority for the leaders of the company. Holding meetings with the various stakeholders to discuss issues that have come up and collaborate for acceptable solutions. Openness and transparency is important for all of the parties involved. Theis helps your organization show they are conducting business in a responsible manner, and it keeps the stakeholders informed as well as engaged.

IV. Implementation:

1. People: Stryker Corp should create a plan to build stakeholder relationships in the diversity, equality, and inclusion initiatives: combining the company's core values and goals by developing a task force made up of employees and stakeholders from all backgrounds. The company will benefit from this as it will be able to set realistic goals and develop a strategy for its DEI program. In order to know if the task force is working or where they need to focus their attention on, is to have an audit in six-month intervals to help pinpoint problem areas and develop a strategy to fix them. The senior leadership needs to have open lines of communication to guarantee that the employees understand the importance of an inclusive workplace. Providing DEI training and education to all employees is another way to build a culture of inclusion. Stryker Corp should develop quantifiable goals and metrics frequently assessing progress to guarantee the DEI projects are bringing the desired changes that are needed. The company will reassess and make necessary changes bases on what areas are needing improvement. By taking these measures, Stryker Corp will be able to build a more diverse and inclusive workplace where their workers feel appreciates and supported. This will then increase the company's connections with its stakeholders and its bottom line.
2. Planet:Stryker can take the following immediate steps: Establish a dedicated Environmental Sustainability Team that is responsible for creating and implementing environmental policies and ensuring compliance with relevant regulations. To improve Stryker Corp's environmental policies, the company should focus on reducing its environmental footprint, increasing sustainability efforts, and engaging with local stakeholders to ensure that its policies meet the needs of the communities they operate in. Conduct an environmental audit of all facilities to assess the current environmental impact of the company's operations and identify areas for improvement. Another recommendation is to develop a comprehensive environmental policy that outlines specific goals and targets for reducing energy use, waste, and carbon emissions. In terms of stakeholder relationships, Stryker Corp should prioritize the well-being of stakeholders, including employees, customers, suppliers, and the environment. The company should develop a comprehensive stakeholder engagement strategy that includes regular communication and collaboration with all relevant stakeholders. By doing so, Stryker Corp can build a strong reputation as a socially and environmentally responsible organization and attract and retain customers, investors, and employees who share these values.
3. Profit: To remain profitable, Stryker Corp should consider streamlining processes, reducing overhead costs, and developing new products or services. They could also outsource certain processes or tasks to reduce costs and improve efficiency. In order to lower the overall costs of the company, it is essential to cut any extra expenditures that are incurred by the company and are not directly related to main business activities. Some examples of this would be cutting travel costs, cutting back on workplace expenditures or even reorganization the whole organization. Another example of this would be to cut back on workplace space and allow some employees the opportunity to work from home. This will cut costs while keeping the same degree of effectiveness. Investing in Research & Development (R&D) now, could have significant benefits for the company in the future. It's possible that some of the suggested changes might incur increased costs right away, those adjustments might end up saving money in the long run. Stryker Corp could develop new services that would supplement the products they already offer. One example of this would be establishing an internet customer support system that would help consumers troubleshoot any problems they may have with their merchandise. The company can guarantee that it will continue to be successful if these measures are taken, while simultaneously fostering a mindset of responsible corporate behavior within the company. Because of these changes, the business will be able to save time and money as all of its employees and stakeholders will be informed and involved. In addition, Stryker Corp can develop cutting-edge products that are capable of catering to the requirements of clients and setting the up for sustained achievement.