The Australian Mining Company Glencore Discharged Essay

The technique for improving the credibility of the information comprised in CSR reports is to confirm that data adheres to established standards. There are an extensive number of standards available such as those from the Global Reporting Initiative (GRI), World Business Council for Sustainable Development (WBCSD) and the Business in the Community (BITC). Qantas should choose to follow the GRI framework as 80% of reporting organisations follow their Sustainability Reporting Guidelines. The guidelines are created to be flexible and applicable across organisation type, region and sector. General transparency of the CSR report can also be increased thanks to GRI. Qantas must fully disclose all relevant GRI indicators to make a more comprehensible and credible CSR report. The stakeholders can also value the comparability of the report as GRI allows the data to be objectively compared to the sustainability performance of other

This report examines the new world of sustainability reporting, and the complex web of stakeholders. It focuses particularly on the demands for new kinds of transparency which serve the interests of the environment and society.

Many firms are learning that being environmentally friendly and sustainable has numerous benefits. (O.C Ferrell, Fraedrich, Ferrell, 2015). This could enable them to increase goodwill from various stakeholders and also save money in the long term. This will mean that they are being more efficient and less wasteful of resources, which will enable them to be more competitive by satisfying stakeholders. The CEO of

After bashing the old idea of managerial capitalism, Freeman starts explaining why his reconceptualized stakeholder concept is much more logical. Freeman modestly articulates a stakeholder theory using the “narrow definition” of a stakeholder, which includes those who are vital to the success and survival of a corporation. Specifically, these stakeholders include owners, management, suppliers, employees, customers, and the local community. As well as being directly connected with the corporation, Freeman argues that the stakeholders are also interconnected with each other as well, and that each stakeholder is vital to the survival of the corporation, and vice versa. Employees rely on the business to give them a paycheck; the business provides their livelihood. Employees return the favor because they run the business on a day to day basis. Suppliers are vital to the firm’s success because the quality of the raw materials purchased will determine the quality and price of the final good produced by the firm. As a result, the firm is a customer of their supplier, and is therefore vital to their supplier’s success. The next stakeholder, customers,

6. (TCO 6) Imagine a world that is populated by 9 billion people. In order to maintain our current quality of life, such a world would require 2.3 planets’ worth of resources. In order to sustain the U.S. way of life, businesses and the government must plan for 30% more people living across the globe. Most of those people will be in developing countries, and the demand will be great for energy, food, and healthcare. Your concern is that you and your production team have been asked by your leadership to create a scorecard to measure your firm’s efforts in sustainability. Your team’s scorecard should necessarily include which? (Select all that apply.)

Moreover, Canada should know their environmental responsibilities as companies need space for land and lots of water for dumping waste. This increases risks for injuries to occur as employees enter harsh environments. Workers end up exposed to coal dust and silica for long periods which causes serious health problems. In areas of mining companies exists pollution at an increased rate that makes the soil and water enriched with heavy metals and livestock. Globally, businesses corporate social responsibilities that are essential as they consist of four strategies: the shareholder strategy, the alustric strategy, the reciprocal strategy, and the citizen strategy. The shareholder strategy is where the corporate social responsibility is looking for an overall profit and the same to reach threshold. Secondly, the alustric strategy is where the company declares themselves unaccountable for society and allows for responsibility to fall towards the person leading the firm - the manager. Next, the reciprocal strategy has an individual who looks for the flaws in both economic and social perspectives. Lastly, the citizen strategy is where there is a business analysis that includes individuals who have different expectations and interests for continuing the company’s goals. NGOs also pressure companies to fix remedies to help the victims of the violations.

Daft (2012) defines stakeholders as “any group within or outside the organization that has a stake in the organizations performance.” Stakeholders within the organization include the owners, managers and employees while external stakeholders includes the organizations customers, suppliers, community, workers unions, creditors as well as the government. Due the variety as well as different nature of the stakeholders, each stakeholder has a different expectation from the organization as concerns their stake. It is from this characteristic and expectation that each stakeholder will be affected differently by actions and decisions as well as policies and practices implemented by the business from those of another stakeholder (Carroll & Buchholtz, 2014). This also means that the different stakeholders will act or make decisions that affect the business in a way best situated for them. Carroll & Buchholtz (2014) discuss the relationship between the business and stakeholders as one that has a two-way interaction; businesses will affect stakeholders as well as stakeholders affect the business, that is an interchange of influence. The complexity of the stakeholder-business relationship calls for

It is often said that a structure is only as strong as its foundation. This same principle can be applied to a business. In this case, the foundation is the stakeholders and the company’s corporate social responsibility strategies, both of which play a crucial role in the long-term success (or strength) of the company. Bombardier is a Canadian aerospace and transportation company which was founded in 1942 in Valcourt, Quebec as a snowmobile company. As its success grew, Bombardier expanded into one of the world’s leading transportation manufacturers; a multinational company, and evidently a highly successful one. The focus of this report, however, will not be on the overall success of the company, but on the company’s disposition

Canada is home to some of the largest mining corporations in the world. In fact, seventy-five percent of the world’s mining companies are based in Canada (Dean, 2013). These companies are involved in the extraction of numerous resources, including silver, petroleum, bitumen and coal. Canadian mining operations also have a particular focus in gold, as twenty-one of the country’s top forty mining companies are involved in gold extraction. With billion dollar annual revenues and interests in almost every continent, these multinational companies are making a large impact around the globe (Canadian Mining Journal, 2014). However, these impacts are not necessarily positive. Canadian mining corporations have failed to implement CSR policies and

These statements address topics like the stance of the company towards tax avoidance and the goal of tax transparency, statements regarding Human Rights issues, Climate change, the support of development in third world countries and on industrial relations. These statements directly address issues where Glencore has earned criticism in the recent past. They show that Glencore has recognized the scrutiny by the public.

Subsquently after writing the values, next on the agenda was building coalitions and obtaining support with upper management to spread the message about corporate and social responsibility concerning sustainability. We would achieve this through adding the concept of “ triple-bottom-line reporting” with a time-line of 12 months to complete after the values are established (Jick

Stakeholders are people or groups with interest in an organization that can affect or be affected by the organization itself, its objectives, or its policies (BusinessDictionary, 2015). Each stakeholder brings their own perspective to the table based on their relationship with the organization (e.g. internal or external role), their level of experience, and their area of expertise about the subject matter they are involved with. At a high level, the list of stakeholders for any organization could include people or groups such as: customers, employees, government agencies, suppliers, unions, community resources, shareholders, and business owners. For the purpose of this assignment, I will discuss and review stakeholders relative to the

Over the past few decades, sustainable business practices have become more prevalent and required in corporations. Australian organisations are required to be responsible for being sustainable socially, economically and environmentally, here we focus on the environmental factors. Australia’s government is constantly coming up

Freeman has indicated principal groups of stakeholders (owners, suppliers, customers and employees) (Carroll, 1989). Modern corporate social responsibility, starting from those in the year 2000, is much more specific in what regards its activity becoming part of management strategies. A Report of the European Commission says: “the rise of CSR can be seen as a response to scandals over the past two decades, involving mainly American corporations, as well as a direct response from within and outside the business community to engage directly in meeting challenges such as climate change, social

Intro: This report will aim to define responsible business, in relation to the vast range of topics such as Corporate social Responsibility/Corporate Citizenship, sustainability, whilst comparing these through academia and their different meanings relating to Responsible Business. Furthermore, this report will also aim to critically analyse climate change and its effect in relation to making Business more responsible as well as the drawbacks/opportunities this holds for business. Finally, this report will exploit the relation between government and Business; identify possible barriers for businesses through government via academic views and evidential impacts on businesses and how government supports business to create a more sustainable world, through incentives such as the climate change Act 2008.