Develop Workplace Policy & Procedures for Sustainability

Added on - 21 Feb 2021

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Develop workplace policy andprocedures for sustainability
Table of ContentsINTRODUCTION...........................................................................................................................3MAIN BODY...................................................................................................................................3Section 1...........................................................................................................................................3a) Determine the scope and direction of the sustainability policy..............................................3b) Define the scope of the policy................................................................................................3c) Gathering information from a range of sources to plan and develop the policy....................4e) Conduct a cost–benefit analysis..............................................................................................4f) Outline time frames for implementing the policy...................................................................5g) Develop a sustainability policy for Commonwealth Bank of Australia.................................5h) Implement resource efficiency, minimising resource use, and reducing toxic etc.................5I) Employ life cycle management approaches and continuous improvement............................6Section 2...........................................................................................................................................6k) Promote the policy and outline the expected outcomes..........................................................6l) Outline the procedures required to implement the policy.......................................................7m) Assign responsibilities for implementing the policy to track continuous improvements......7n) Develop communication procedures to help implement sustainability policy.......................7o) Present the information using language appropriate to the audience.....................................7Section C:.........................................................................................................................................8q)................................................................................................................................................81) Investigate and document the outcomes, including successes by reviewing/ researching thecurrent CBA sustainability performance....................................................................................82) Trends and areas that require remedial action for continuous improvement of performance8CONCLUSION...............................................................................................................................9REFERENCES..............................................................................................................................10
INTRODUCTIONIn the workplace, where sustainability based performance is important or necessary to beundertaken to make goals or targets to be completed with defined strategy. Sustainable regulationin the business operation has results into the development of business growth or protection ofany legal kind of regulation (Ghosh, 2015). In contrast, this report will be carry on thecommonwealth bank which is leading multinational bank located in the Australia. This businessfirm is engaged in the funds transfer, investment portfolio, any financial assistance etc. Thisreport will be consist of the suitable practices which was planned by the commonwealth bank ata major scale of an operations.MAIN BODYSection 1a) Determine the scope and direction of the sustainability policySustainability policy are those which are made or initiates to led conduction of businessprocess or functioning to development both business and social aspects. Commonwealth bank isa structure which has recently comes up with sustainability of an environmental protection,social protection & saving resources which are mainly responsible to emit carbon into the natureor the cultures (Farooq, 2014). Policies also helps to identifies bank's environmental and socialfocus area and general principles on which CW bank sustainability initiatives will be designed orimplemented. In this this sustainability policies, direction CW bank policies are responsible toconduct day to day operations & business transaction in a protective manner, be accountable toall of the stakeholder (internal and external) and also establishes the working environment thataids in an effective culture or environment.
b) Define the scope of the policyThe scope of common wealth policies such as environmental, social & governance policyis to support efforts the efforts which this leading bank makes to accomplish the positive impactthe way, this leading bank is used to do business functioning on a greater side or status. Scope ofthis policy is long lasting, as it will assist business entities to save excess cost on spending tobusiness operation or resources which are majorly harmful to environmental factors. Hence,commonwealth bank is necessary to implement strategies or action plan which are necessary toled effective regulation & protection of a sustainable environmental regulations.c) Gathering information from a range of sources to plan and develop the policyIn context of a commonwealth bank, sources such as business websites, colleagues, scopeof an industry, consultants, regulators etc., will be useful to gather information to plan and alsodevelop how environmental, social and governance policies (Pot and et. al., 2016). In this, visionand mission of this leading will be undertaken which says what is the vision behind developingsustainability policy such as protection of an environment, saving excess cost for this bank andgenerating longer profit to gain business proficiency and also how would achieve this in long runand potential scale of business durabilities. An information that will be comes from givensources are true in nature & legal is procured.d) Make recommendations for policy optionsAfter the complete analysis of policies formation, in context of the commonwealth bank,it is recommendable that options such as environmental, social and governance are needs to betaken care in which an effective regulation or business growth will be measured to stop carbonemission, development of a social morale and also increasing in corporate social responsibilitiesat a major concern. These are need to be cost saving, technological empowerment along withrevenue growth empowerment (Markey and et. al., 2016). All three option of a policies are needto identified with SWOT analysis, in which strength such as cost protection, scope fordevelopmental changes, weaknesses such as lack of the strategic planning & controlling aremajor weaknesses to be overcome, opportunities such as legal recruitments, statutory approvalswhich are some scope for CW bank and threats such as loss of a business image, ethicsdeferment and rising conflict among the business regulations.
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