Assignment | Governance, Ethics, and Sustainability

[GOVERNANCE, ETHICS, AND
SUSTAINABILITY]
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Student Name:
Student University:

Introduction
The three supports of sustainability are economic, social and environmental demands
(Schaltegger & Wagner, 2017). Business sustainability is where coordination and
management of these three supports are concerned to make sure the success is on-going,
responsible and ethical which is also be named as corporate sustainability (Alhaddi, 2015).
The sustainability consists of triple bottom line as a traditional concept considering
evaluation of efforts regarding short-term effect on profits (Rouse, 2013). In today’s time,
business sustainability plays a vital role by focusing on the factors to maintain the balance
between corporations’ local impacts and their sustainable progress by ensuring the positive
affect on varied range of stakeholders (Vigneau, et al., 2015). The policies of sustainability
are complied with the business to report effectively important for the companies to ensure
that they are maintaining the operations transparency. The global guidelines of “Global
Reporting Initiative (GRI) Reporting Standards” make companies dependent for ensuring the
report effectiveness in actions and practices affecting stakeholders, shareholders and
customers taken care by the management (Posner, 2014). These standards are globally
applicable for sustainability reporting and feature an inter-related framework and also show
the practices to report at the global level with various social, economic and environmental
local impacts. The case study of “Timberwell Constructions” will be analysed while
implementing the “GRI Reporting Standards” in order to prepare sustainability valuation
report of the organization looking at the local impact of customers, stakeholders, shareholders
and others.
Economic Sustainability
In the economy, the maintenance of resources and the concept is used for explaining and
defining the resources which are valued in the future. Economic sustainability is an important
part of the sustainability used for sustaining and safeguarding the material and human
resources for creating long-term sustainability valued by recovery, optimal use and recycling
for fulfilling the needs of the individuals in future (Löf, 2018). The natural resources are used
for long-term to earn returns and value for investments and the global economy. It is
important to make sure the ability to support the economy for production and not wasting the
valuable resources for addressing the issues like climate change (Starik, et al., 2016). The
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actions are taken for engaging in the corrupt practices avoidance and make sure to not to
harm the interest of the stakeholders, customers and shareholders (Rigamonti, et al., 2016).
Timberwell Constructions faced financial consequences and risks related to climate change
due to the changes made by local authorities. For instance, “Stanwell Council” implemented
“LEP (Local Environmental Plan)” for handling the climate change related challenges
executed by the local authority to ensure the protection of bushfire safety in the companies.
Companies are expected to use fire-retardant materials on the construction sites linked to the
new guidelines. As per mentioned in the fact, the company were prone to bushfire for
changes in the area done by local authorities for the development of the site. This issue was
addressed by steps taken by the management of the company after the changes made within
six weeks and to work with local authority. To ensure the process around the planned
organization in the outside area for making the process efficiently and reduction in costs in
the company of around four million dollars with fee payment of fifty thousand to hiring in
this working.
Recommendations:
1. Compliance with LEP guidelines to fulfil the obligation of increasing the space of the
boundary between land and building.
2. Changing the location of its operations
The “five employees and two external consultants” were engaged in the corrupt activities as
per the current investigation after the bribery in “council project offers”. The individuals are
charged for the corruptions by the local authorities as proved. For instance, management took
the steps regarding employees for avoiding likely activities in the future. In this time-period,
the organization disallowed the pay to the employees after the suspension. The organization’s
management took the decision of no more working with the consultants were to be found
guilty.
Recommendations:
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1. Training program for employees to avoid corrupt activities
2. Strict penalties for the individuals breaching the anti-corruption policy
Under ACCC, the series of complaints in contradictory to company lodged after which the
investigation was started where ACCC derives “Australian Competition and Consumer
Commission”. The claims after the investigation, the executives of the company work to
learn about a builders group planning to start the operations of their own for increasing the
competition for the company. In order to not to receive any business from Timberwell by
calming the engagement of similar activities in business for ensuring about threatened by the
executives. In recent times, within the on-going case and its judgement by the next four
months to be pending while the management not taking any action for the executives
involved in this case.
Recommendations:
1. Spreading awareness in the company to avoid anti-competitive behaviour, anti-trust,
and monopoly practices by implementing strict policies
2. Working with local authorities to avoid violation of anti-competitive provisions
Environmental Sustainability
The protection and maintenance of environmental resources are ones environmental
sustainability is concerned about for the future individuals. The issues under the
environmental sustainability are related to the health of the ecosystems for the long-term,
consequences at the time of long-term to make decisions related to economic, the company to
use renewable resources and restricting the consumption of non-renewable resources (Evans,
et al., 2017). The prevention of implications linked to excess pollution causing damage in the
environment and health aspects, protecting varied species and ecological framework, and
concentrating on social welfare (Pettinger, 2018). Further, it conveys restricting individual’s
ability in future to make sure about the fulfilment of requirements relied on these resources.
The organizations actions destruct the biodiversity for the protection of the human-kind
interest (Gliedt, et al., 2018). Hence, accurate actions need to be made by the companies for
reduction in energy consumption by sources which are non-renewable and complied with
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