Governance, Ethics and Sustainability Assignment

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Governance, Ethics and
Sustainability
Student Name:
Student University:

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INTRODUCTION
In business, maintaining sustainability is necessary for the company to
gain competitive advantage that generates future success. It is an
approach used by the company to create value for long-term all over the
world based on operations also termed as corporate sustainability (Dyllick
& Muff 2016). There are three pillars of sustainability consisting social,
environmental and economic factors as a traditional concept that also
impacts the key stakeholders, shareholders and customers (Svensson et
al. 2016). These factors are used to earn profits when attaining business
in long-term along with the company’s development to nurture growth
(Rezaee 2016). It includes transparency and responsibility increment that
enhances through the “Global Reporting Initiative (GRI)” Reporting
Standards. Here, these standards are used as global guidelines when the
operations are performed effectively concerning sustainability (Topple et
al. 2017). The company enables to get information through these
guidelines in relation to the impacts on society, environment and
economy where it is helpful to make better decisions and contributing in
“United Nations Sustainable Development Goals (UN SDGs)” (Schönherr,
Findler & Martinuzzi 2017). In this report, case study of the company
“Finnegan Constructions” is analysed by implementing global guidelines
that is required to prepare the “Sustainability Assessment Report”. Also,
this report is concerned about the local impacts on shareholders,
customers and other key stakeholders.
ECONOMIC SUSTAINABILITY
In recent times, companies are trying to attain sustainable development
by avoiding bankruptcies, less poverty and full employment issues for
maintaining economic sustainability to keep the business sustainable.
Economic sustainability includes investment, interest rates, productivity,
labour market and employment statistics along with the management of
company’s financial performance and economy impact widely along with
managing intangible assets as well (Ding, Jiang & Zheng 2017). In an

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economy, it is essential for the company to operate in a sustainable
manner consistently for achieving success in business and making it
green along with social protection and environmental elements. Across
the globe, it is important in business to ensure no wastage of resources
that are valuable while using them in an optimal way within economic
sustainability (Cadil et al. 2018). This concern is related to the issues
companies are facing in terms of sustainability where it is necessary to
take action against the company involving in corruption activities for
avoiding such measures and not harming the key stakeholders’ interests
(Hammer & Pivo 2017).
As per local authorities, there were changes the company was forced to
make due to climate change facing financial implications. This is the
reason of executing “Local Environmental Plan (LEP)” by the “Stanwell
Council” as a local authority for handling the climate changes related
challenges. It was to make sure about protecting the company from
bushfire basically on the construction sites as per the new guidelines.
There is an expectation by the company of using fire-retardant material
where mentioning the fact of making changes by local authorities is about
organisation prone to bushfire in the region development at site. After six
weeks of making the changes the management took the steps in the
company addressing the issue while working with local authority. In the
company, the management planned to work efficiently within the process
considering the outside area as well dealing with reduction in costs by
making fifty thousand as fee payment and investment of four million
dollars while hiring the employees. Since climate change is a major risk
that is faced by the corporation, it is important that necessary steps are
taken to address this challenge. The first thing that the company should
do is prepare a budget to tackle this problem. As per this budget, it can
consider different options for climate change such as use of renewable

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operation procedures, change in the location of its operations or hiring
other organisations to resolve this problem.
Employees were engaged in corrupt activities as found at the time of
investigation consisting “five employees and two external consultants” to
be guilty within the company involved in “council project offers” after the
bribery. It was proved by the local authorities where there was change on
the employees as per the steps taken in the company to avoid such
expected activities for future. They disallowed pay after the suspension to
employees after decision made by the management along with not
permitting consultants to work together after they found guilty. Since
employees of the company are failed to show appropriate standards to
avoid corruption, necessary policies should be formulated to create an
anti-corruption environment, this will reduce corruption and trust will be
built.
There were several complaints against the company showed after
investigation under “Australian Competition and Consumer Commission
(ACCC)”. The executives of the company started to learn the builders’
group plan claiming for introducing the operations with the increase in
competition of the company. The claim of such similar activities
engagement was to not receive the needed business that takes care of
threats present currently under the executives. On this case after four
months of the judgement showed the involvement pending within the
management of the company for not taking action against the executives.
The behaviour of employees determines whether the company will
engage in practices relating to anti-trust or anti-competition; therefore, it
is significant that training should be a key part of the organisation which
would avoid legal threats.