Business Society and the Planet Assignment
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Added on 2020-10-22
Business Society and the Planet Assignment
Added on 2020-10-22
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BUSINESS, SOCIETYAND PLANET
Table of ContentsINTRODUCTION...........................................................................................................................1Q1. Detail about selected organisations ................................................................................1Q2. Differences evident between the companies in terms of the range of issues dealt with inreport and depth of coverage..................................................................................................2Q3. Sustainable Development Goals for companies .............................................................3Q4. Sustainability Phases.......................................................................................................4Q5. Extent to which Social Reports Reflect on Values..........................................................6Q6. Reflection on Group’s Discussion...................................................................................7CONCLUSION................................................................................................................................8REFERENCES................................................................................................................................9
INTRODUCTIONCorporate Social responsibility and Sustainability practices are crucial for an organisationto consider performing business activities effectively and achieving competitive advantage. Theinvolvement of organisation within CSR practices supports a company to get acceptance withinthe society by its contribution toward the development of ecological and human beings (Stead &Stead, 2017). This report is based on sustainability report of Commonwealth Bank which offerfinancial services and Woolworth Group Limited that work toward retailing of Liquor as well asleisure related services throughout Australia. In this report there is a detail introduction of boththe companies along with the differences between the CSR report of them in term of issueshandle and depth of its coverage. It further includes relevant Sustainable Development Goals forboth of them. It also includes analysis of company’s’ sustainability phase and reflection overstated values. Q1. Detail about selected organisations Under this report a detail research has been performed over two companies named asCommonwealth bank and Woolworth company both belongs to Australia but deals in differentsectors. The detail of both the organisations are explained below:Commonwealth bank: - It is a multinational bank, headquartered within Australia andperform operation within several countries like New Zealand, US, Asia and UK. It belongs tobanking or financial service industry. The finance industry contains group of banks as well asfinancial institutions that offer services regarding the management of finance, investment, loan,capital market and many more. Commonwealth Bank is a greatest financial service providerwhich offer services such as retail banking, institutional banking, investment, fundsmanagement, superannuation, insurance and broking services etc. throughout the world.Commonwealth Bank maintain approx. 800000 shareholders and around 52000 employees(Commonwealth Bank: 2017 Corporate Social Responsibility Report. 2018). It is active inperforming sustainability practices and deal with issues like eduction, bringing innovation,balancing stakeholder need and development of future workforce.Woolworth group limited: - It is a second largest Australian retail company in term ofrevenue which operates its business throughout Australia and New Zealand by maintaining retailstore. Retailing is consider as one of the biggest industry which deal in manufacturing andmarketing of product or services that are related with the daily routine essentials of human1
beings. Woolworth Company belongs to retailing and is consider as biggest takeaway liquorretailer, largest hotel as well as gaming poker machine operator within Australia. This companyperforms main operations such as operating supermarkets, liquor retailing and maintaining hotelsas well as pubs under the Australian Leisure and Hospitality Group umbrella and discountdepartment stores under the name of Big W within Australia (Dyllick and Muff, 2016). Companyis active in its corporate social responsibility by addressing issues related with recycling,reducing carbon emission, reducing gender discrimination etc.Q2. Differences evident between the companies in terms of the range of issues dealt with inreport and depth of coverageBoth the organisations i.e. Commonwealth Bank as well as Woolworth are involve in CSRpractices and contribute toward the welfare of society by involving sustainability practices. Themain difference between the report presented by companies is that Woolworth put moreemphasis toward ecological sustainability as well as human sustainability and on the other handCommonwealth Bank focuses toward working only over human sustainability. As the reportpresented by Woolworth it has been identified that it involves business stakeholders in theirpractices to perform sustainability activities much effectively toward the welfare of all thepartners. This is because company is working over the issues related with employment biasness,energy wastage, increase in carbon footprint etc. By performing CSR practices, it become able toreduce carbon emission by 13%, include around 50% board members as women.The theme of report is based over the environmental safety and stakeholder welfare aswell as safety. In addition to this report presented all the information regarding each activityperformed by Woolworth in the direction of corporate social responsibility practices. Thisinformation is presented in concise but meaningful manner which creates a point of attraction forviewer that in turn help in creating positive brand image. Hence it can be said that presentation ismore appropriate and attractive with proper formatting which present information insystematically manner. On the other side the theme of report present by Commonwealth Bank isabout the welfare and development of society by contributing toward improving educational asfinancial access to people. Major issues over which Commonwealth bank focuses by performingCSR activities are workforce wellbeing, responsible lending, diversity, customer experience anddigital innovation. These issues get covered up to a great extend through CSR practices as it2
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