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Corporate Governance and Sustainability Campaigns of BHP

   

Added on  2021-05-31

12 Pages3708 Words351 Views
COMMUNICATION

1EXECUTIVE SUMMARYThis report revolves around the BHP sustainability and corporate governance campaigns.This also includes their CSR and issue management and how they are important in themodern day firms. This report also highlights the issues that BHP is facing and the way inwhich they have managed this with their operations. It also underlines the theories regardingCSR and issue management. It also depicts the role of the CSR and Issue management atBHP. In the last section of the report consistency in their corporate messaging has been listedas well as the impact it has on the stakeholders. It also evaluates the communication at BHP.

2ContentsINTRODUCTION.................................................................................................................................1Integrating CSR and Issue management................................................................................................1CSR and its associated theories.........................................................................................................1Issue management and its associated theories....................................................................................2Role of CSR within BHP.......................................................................................................................3Role of CSR issue management for BHP..............................................................................................4Consistency of company corporate communication message...............................................................5Communication at BHP.........................................................................................................................6CONCLUSION.....................................................................................................................................7REFERENCES......................................................................................................................................8INTRODUCTIONIn the modern day business, corporate social responsibility has become one of the mostimportant aspect. It has become an opportunity for the firm to partner with customers,employees, government, communities, and stakeholders, shareholders to pursue and giveunmatchable outcomes (Fernando & Lawrence, 2014). It gives positive difference for theindividuals, society and the community. It not only helps in improving the image of the firmbut also ensures long term sustainability of the company. BHP (Broken Hill ProprietaryCompany) is a one of the biggest mining and resource firm. It is having approximate globalrevenue of US$38 Billion. It is headquartered in Australia and was established back in theyear 1885. It is having 60000 workers as well as contractors worldwide. This reportshowcases the Issue management and CSR that is practiced in BHP. It also providesinformation regarding the theories integrating issue management as well as CSR. It alsoillustrates the role of CSR and Issue management in BHP. Consistency regarding company’scorporate communication message has been discussed.

3Integrating CSR and Issue managementCSR and its associated theoriesIt is probably difficult to give exact definition of the CSR. But the general understanding ofCSR is that it is the act of the organisation that emphasize on both responsibility to interactethically with the surrounding as well as responsibility to make money. It is also sometimesknown as the responsibility of the organisation to share its profits with players that aresomehow affected by the business of the firm (Rodríguez Bolívar, Garde Sánchez & LópezHernández, 2015). Effective CSR is described as a firm proactively showing respect for theinterest of the community. In this, organisation tends to expand their focus beyond what iscalled financial profit and consider the broader impact of firm on community.There are several theories that surround CSR. First is the CSR itself; Using this theoryorganisation interacts with bigger world as well as surrounding community. This theoryrevolves around four obligations. They are economic, legal, ethical and philanthropicresponsibility. Second is “The Triple Bottom Line”. This is the theory that believes informing CSR dictating corporate leaders to tabulate bottom-line results not only in theeconomic ways but also in the ways a firm affects in social realm as well as w.r.t theenvironment (Louche & Idowu, 2017). This theory revolves around three aspects namelyeconomic, social and environmental. Third and most important theory is stakeholder theorywhich was given by Edward Freeman. This theory states that those whose lives are affectedby the organisation has a right as well as obligation to participate in directing it.Issue management and its associated theoriesIssue management is an organisational communications process by which a firm finds the keyissues and hence prepare possible appropriate responses to these issues in advance (Epstein &Buhovac, 2014). This is very essential in the modern day business environment where thenumber of issues surrounding the company is large in numbers. This is done by theorganisation to limit the damage that an issue can make since all the preparations are donebefore hand. There are three stage processes for IM that begins with finding latent andemerging issues, secondly finding the impact of the issues and finally reacting to the issue.For early detection of the issues an effective stakeholder research needs to be carried out.This can help to potentially transform issue into an opportunity. It is understood to be long-term process and often have influence formation to minimise the potential negative impact ofissues. It can be amplified using the normal suite of promotional marketing tools involving

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