Answer To: Corporate Sustainability subject.3000 words Assignment. please choose a known ORGANISATION....
David answered on Dec 26 2021
Running Head: CORPORATE SUSTAINABILITY 1
Corporate Sustainability
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Executive Summary
For an organization, the meaning of corporate sustainability is to fulfill the rules and
regulations related to the business, address the social concerns related to the business and comply
with the industry norms to avoid business risk factors and run the business activities in the target
market for long-time (Schermerhorn, 2011). The phenomenon of corporate sustainability is
growing everyday because of the natural resource consumptions by the organizations that are not
only creating the issues related to the scarcity of the resources to the public but also creating the
issue for the future generation because of the growth in the pollution, emission of the CO2,
carbon foot prints etc (Idowu & Filho, 2008). Due to this, the entire business scenario has
changes from the last decade that has increased the need to address the obligations related to
society and environmental (Frynas, 2005). This paper will explore the issues faced by the
business that can affect its survival in the market. It will also discuss about the corporate
sustainability that can be achieved by the organization through the help of three pillar analysis to
get competitive advantages.
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Introduction
For an organization, the meaning of corporate sustainability is to fulfill the rules and
regulations related to the business, address the social concerns related to the business and comply
with the industry norms to avoid business risk factors and run the business activities in the target
market for long-time (Schermerhorn, 2011). The phenomenon of corporate sustainability is
growing everyday because of the natural resource consumptions by the organizations that are not
only creating the issues related to the scarcity of the resources to the public but also creating the
issue for the future generation because of the growth in the pollution, emission of the CO2,
carbon foot prints etc (Idowu & Filho, 2008). Due to this, the entire business scenario has
changes from the last decade that has increased the need to address the obligations related to
society and environmental (Frynas, 2005). Hence, the concept of the corporate sustainability
work as a tool for the organizations to address the issues and concerns related to the business in
the legal and ethical and social manner that ensure the long-term survival of the business (Hove,
Menestrel & Bettignies, 2002). Nowadays, corporate sustainability is growing phenomenon not
only in the local business environment but also in the international business environment because
of its benefits to the societies. In this concern, this paper will explain the principles of
sustainability in the global business environment and issues of a future sustainability in a
corporate environment. Further this paper will discuss about the issues related to the regulatory
and market towards the sustainability along with the voluntary reporting. This paper will also
analyze the sustainability strategy of an organization with the help of a case organization to
define its role in the getting competitive advantages.
For accomplishing this paper, Shell is selected as a case organization because of the
nature of its business that increases the risks to its survival. On the other hand, the business
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strategies of the selected case organization do not only help to meet the rules and regulations
related to its business and industry but also helps to secure the benefits of the societies.
Overview of Case Organization
Shell is a producer of oil and gas and it supplies its products in all over the world to fulfill
the energy needs of the community people. But its business activities also impose several
adverse impacts over the health and ecology of the society members (Shell.com, 2016). To
address the adverse impacts on business on the community, corporate sustainability adopted by
company helps the organization in addressing each concern of its direct and indirect stakeholders
such as investors, government, customers, and environmental activities (Shell.com, 2016). As
per the mission and visions of the selected organization it can be stated this organization wants to
earn growth in business through the help of societies, which cannot be feasible without their
engagement and timely supports. So, Shell uses the corporate sustainability to address their
concerns and get their support for its growth & development.
Principles of Sustainability in Global Business Environment
The term of sustainability varies from business to business. Because of this, the principles
of sustainability for Shell can be differing from the other organization. But overall the principles
of sustainability for Shell are given below:
Protection of Biosphere
The entire business practices of an organization or organizations will reduce or eliminate
the discharge of such substance, which can damage the environment in the context of water, air,
or earth or the communities’ inhabitants (Hove, Menestrel & Bettignies, 2002).
Sustainable Use of Resources
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The availability of natural resources is limited. Due to this, it is a responsibility of the
organizations to ensure the sustainable use of available resources for their maximum utilization.
Disposal of Industry Wastes
Each business produces certain amounts of the waste in daily business activity, which
includes the chemical, and other harmful elements that do not only affect the ecology but also
affect the living areas of the societies by increasing pollution level (Giles, 2015). Hence, it is a
responsibility of the organization to ensure the maximum utilization of the resources and
effective disposal of industrial wastes before being a part of the environment.
Energy Conservation
As per the global industry norms, it is also a responsibility of the organization to use the
sustainable and environmentally safe energy sources to conduct the internal operations during the
production of the products and services.
Reduction in risk:
The main responsibility of business organizations is to minimize the safety, health and
environmental risks to employees along with the associated communities with the help of safety
facilities, technologies and procedures of production (Giles, 2015). The organization should also
be ready to address the emergencies related to business to secure safety of environment and
people.
Safe Products and Services
It is also a responsibility of the companies to reduce and eliminate such operational
practices that could not produce safer products or the services to the community people. In this
context, the companies have information to customers about the products and their impacts on
their health and environment (Giles, 2015).
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Environmental Restoration
The organizations will be ready to redress the injuries, which have taken place due to the
business operations directly or indirectly to ensure the restoration of the environment.
Regular information to Public
It is also a responsibility of the organization of information about its business practices
and their impacts on the entire business operations and their impacts on the safety, health or
environment (Fox & Fox, 2004). The organization will not take any actions against those
employees who will report dangerous conditions or incidents to management or government
authorities.
Audits and Reports
The organizations should have to conduct the internal audit to evaluate the progress...