Business Society and the Planet - Assignment
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Added on 2021-06-17
Business Society and the Planet - Assignment
Added on 2021-06-17
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Running head: BUSINESS SOCIETY AND THE PLANETBusiness Society and the PlanetName of studentName of UniversityAuthor note
1BUSINESS SOCIETY AND THE PLANETTable of ContentsPart A- Business values assessment report......................................................................................3Identification of the two companies and core business activities....................................................3Differences between two companies relating to the issues in social reports...................................4Sustainable development goals........................................................................................................5Quality of social accounting approach............................................................................................7Organizational values of the two companies.................................................................................10Reflection on group discussions....................................................................................................11References......................................................................................................................................13
2BUSINESS SOCIETY AND THE PLANETPart A- Business values assessment reportIdentification of the two companies and core business activities The two companies selected here, as the case study are ANZ and Telstra bank. TheAustralia and New Zealand Banking Group Limited or ANZ is one of the largest banks in termsof market capitalization in Australia, just after the Commonwealth bank and Westpac BankingCorporation. The company provides specialized financial services and dominates the commercialand retail banking sector. Not only does the company operates in Australia and New Zealand, butalso operates in over 34 nations all over the world. It was also named as one of the mostsustainable banks in Australia and has revenue of more than A$ 21.071 billion with over 50,152employees. The major people associated with the bank are Shayne Elliott, who is the CEO of thebank and the chairperson named David Gonski (anz.com.au, 2018). ANZ bank operates withinthe banking industry whereas Telstra operates within the telecommunications industry inAustralia. Telstra Corporation Ltd., also referred to as Telstra is one of the majortelecommunications and Media Company that manages delivery of telecommunicationsnetworks, internet accessibility, mobiles, pay televisions and other entertainment services. It iscurrently the largest telecommunications company in Australia that is managed by Andy Penn(CEO) and John Mullen (chairperson). It has a revenue of more than A$27.1 billion and morethan 36, 165 employees working in the subsidiaries of the company too. It operates in countrieslike Australia, New Zealand, Singapore, etc (telstra.com.au, 2018).
3BUSINESS SOCIETY AND THE PLANETBoth the two companies are from different industries; still they hold a good positionwithin the competitive business environment. The Australian division of ANZ Bank includes theretail and corporate & commercial banking business units. The institutional division providesservices for the global institutions and the customers across the various sets of products includingthe transaction banking, loans and specialized finance and markets. ANZ bank manages variousapproaches to support the strategic priorities and manages the external issues and relationshipsby involving the civil society, regulators, Governmental bodies and NGOs. Being one of thelargest markets of ANZ Bank, the company has served both Retail and commercial customers bymanaging networks across 686 branches, 28 business centers, 2337 ATMs and also the onlineand mobile banking applications. Telstra manages digitization and made investments to deliverthe best quality services to ensure coverage, better speed, reliability and security (Carroll &Buchholtz, 2014). The strategic investments of more than $3 billion facilitated the digitization ofsystems and processes and developed a 2020 architecture to enhance the priority capacities anddrove the cultural shifts for providing better customers’ services. Differences between two companies relating to the issues in social reports Both the companies ANZ Bank and Telstra consider the various policies and principlesthat are documented to outline the values, cultures and ways of dealing with issues in asustainable manner and maintaining the corporate social responsibilities. The CSR reportspresent the social responsibilities and principles of business operations associated with it. Therewas a major technical fault due to which, the customers of ANZ failed to checkout properly andthere were issues related to the withdrawal of money and process payrolls. It preventing bankingtransactions made by the customers during internet banking and prevented the customers to takecash at EFTPOS by clicking on the credit option. It was a technical disaster for ANZ Bank
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