Building and Sustainability Assignment

Added on - 21 Apr 2020

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Running head: BUILDING AND SUSTAINABILITYBuilding and SustainabilityName of the Student:Name of the University:Author Note:
2BUILDING AND SUSTAINABILITYTable of ContentsIntroduction......................................................................................................................................4Is Wesfarmers Limited ready to take risks in order to be successful?.............................................4Why is the idea of risk necessary to change, innovation and the marketplace achievement oforganizations?..................................................................................................................................4What is the organization’s approach toward failure, mistakes or lack of success at theorganizational level and the individual or entity level?...................................................................5How does this make employees feel with view to making suggestions, proposing new ideas orattempting to expand new products, services or markets?..............................................................6How far mistakes can be viewed if organization is to proactively maintain innovation andchange?............................................................................................................................................6How can frontline managers encourage and support employees so that they contribute new andinnovative ideas?.............................................................................................................................7What kinds of work conditions and procedures are in place or should be in place to supportinnovation?......................................................................................................................................7What barriers to innovation exist within the organization?.............................................................8How can managers lead by example when it comes to innovation?...............................................8What training or learning opportunities might be provided so that employees can developappropriate innovation skills?..........................................................................................................9
3BUILDING AND SUSTAINABILITYWhy should managers should frequently assess their own approaches for constancy with thewider organizational or project circumstance?................................................................................9How does the organization’s physical environment support innovation? How might it need to bechanged?........................................................................................................................................10Outlining any legislative framework that impacts on operations in the relevant workplace context.......................................................................................................................................................10Conclusion.....................................................................................................................................11Reference List................................................................................................................................12
4BUILDING AND SUSTAINABILITYIntroductionThe main purpose of the assignment is to conduct a study on a company named asWesfarmers Limited that is based in Australia and listed in Australian Stock Exchange(Wesfarmers.com.au. 2017). The present segment elucidates on understanding whetherWesfarmers Limited are prepared to take risks and prone to innovation and change managementin their business operations. The current segment properly explains about the concept of risk andhow it should be managed in an effective way in the business operations in the recentcompetitive world. The Management of Wesfarmers Limited has reported lines of authorizes andresponsibilities that takes into account guidelines as well as limits for getting approval for all theexpenditures that include capital expenditures, contractual commitments and investments at thesame time (Westland 2016).Is Wesfarmers Limited ready to take risks in order to be successful?Wesfarmers Limited is prepared to take risks for attainment of future goals andobjectives. The company is committed towards identifying, monitoring as well as managingmaterial business risk that links with the business activities. Wesfarmers Limited has adoptedmanagement framework as well as reporting systems that has wide range of risk managementcontrols (Sullivan and Gouldson 2017).
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