Governance, Ethics and Sustainability | Project Report

Governance, Ethics and Sustainability
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Introduction
In business, sustainability covers the management and coordination of environmental,
economic and social demands to support to look over the ethical, on-going, and responsible
success termed as corporate sustainability as well (Klumpp 2018). The sustainable policies
are essential to comply with making sure about maintaining operations transparency in
business. There are global guidelines mentioned as “Global Reporting Initiative (GRI)
Reporting Standards” making company dependent on the practices and actions for looking
towards the effect on shareholders, stakeholders and customers effectively taken care by the
management (Sethi, Rovenpor & Demir 2017). These guidelines are applicable to report
sustainability and featuring structure globally (Lewellyn & Logsdon 2017). The case study of
“Finnegan Constructions” is analysed through the “GRI Reporting Standards”
implementation to prepare the company’s report of sustainability assessment pointing
towards the customers, shareholders and other key stakeholders’ local impact.
Economic Sustainability
In sustainability, economic sustainability is a crucial part to secure material and human
resources in the economy for long-term (Illankoon, Tam & Le 2017). In the global economy,
there is the requirement of valuing investments and earning returns for long-term by using
natural resources.
“Finnegan Constructions” faced risks and financial implications linked to climate change
based on local authorities took steps to make changes. Additionally, “Local Environmental
Plan (LEP)” was implemented for handling challenges by “Stanwell Council” taking into the
concern of climate change as local authority execution to ensure the safety protection of the
company from “bushfire”. The fire-retardant materials were used by the companies as
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expected based on the sited of construction as per the introducing of new guidelines. Though,
based on the fact mentioned, company was lying to bushfire for changes to be made by the
local authorities for the development of site area. Here, management of the company took
steps for addressing the issue after making changes working with local authority and within
six weeks. In an organization, planning is essential to ensure the process in the area outside
for working efficiently with costs reduction of fifty thousand fee payment and four million
dollars in the company’s working to hire. There is a recommendation for the company to
change the location complying with LEP guidelines and to use materials that are fire-
retardant.
There were two external consultants and five employees engaged in activities related to
corruption as per the investigation based on the current situation after the bribery under
“council project offers”. Moreover, local authorities proving individuals to charge in case of
corruptions and want employees to not involve in such activities again which requires to take
steps in future that are expected. Along with this time period, payment disallowance was
done by the company after suspension in case of employees. The step was taken by the
company’s management while taking decision of not working with consultants that are found
to be guilty. Here, the recommendation is for strictly prohibit the actions taken by senior level
management of employees in relation to corruption. Also, the management should formulate
the environment of anti-corruption in the company.
Against the company, various complaints were lodged after the investigation introduced
under “ACCC (Australian Competition and Consumer Commission)” where it was claimed
that the company’s executives worked on learning about the builders group planning in terms
of starting their own operations with increase in competition for an organisation. There was a
claim by Finnegan of not receiving any business as the reason was similar activities by
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executive engaging to ensure the threats. In current time, the on-going judgement and case is
pending by the next four months as involved when the management is not taking actions for
executives. It will be easy to eliminate practices related to anti-competitive by the company
after providing training along with guidelines formulation for punishing individuals similarly
to engage in activities.
Environmental Sustainability
In business, relating to the issues of environmental sustainability consisting ecosystems,
economic decisions made with the possibility of implications, restricting non-renewable
resources consumption and use of renewable resources in the company concerning health for
long-term (Viglia et al. 2018). In environmental sustainability, it is essential for ecological
structure and diverse specie protection concentrating on social welfare. This requires to tale
correct actions taken by the company to decrease energy consumption to protect human-kind
interest by the companies complying with government’s legal guidelines (Johnson &
Villumsen 2018).
In this case study, suggestion was given to the company using tools from the science and
industry department to report the non-renewable sources use considering “1.0 Gigajoule” that
is high. The key energy contributor in the company is electricity as well that is “2.0
Gigajoule” but implementation of policies is not adequate for contribution of renewable
resource in energy that is only “0.5 Gigajoule”. So, the low renewable energy sources use is
the primary issue where management proposed for the future three years to address the
problem by committing the increase use of overall energy consumption by “fifty per cent”. It
is to recommend that there should be change in operations of the company to promote
renewable energy options use along with investment in the sources of renewable energy for
future sustainability.
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“Environmental Impact Assessment” was given by the company to learn the relation of local
impact facing dares and environment settlement with better performance of operations
because of the biodiversity reason. In the Otford Park, the company requires to occupy the
wallum sedge frogs development as found in the study is rare and creates pollution. In this
assessment, frogs cover the site area of 60 per cent along with actions of the company
harming their population. As per mentioned in the case study, there is functioning of
operations continuously in the company shows these frogs extinction. This is to be the major
issue in the process of the company side by side with Stanwell Council and environmental
groups to ensure about the frogs species safety to avoid the severe effect with the measures
engagement of the company. It is considered that change in location to do operations by the
management is for the company to ensure the species protection. There should be biodiversity
protection related policies for the company to form along with taking precautionary measures
in protecting flora and fauna in feature in future beside its operation sites.
It was founded that there were filing of complaints by the department of the company in
relation to environment and energy problems at the time of operations as per mentioned in the
case study. Around “0.45 hectares” of the area that is ecologically endangered need to be
cleared by the company covering coastal grasslands as the “flora and fauna” aspects with
regulations that are violating due to the measures. There are legal duties need to be fulfilled
concerned with the requirement of $200,000 fine paid costing as authority mentioned.
Moreover, to fail was due to depending on policies and ensuring the context of legal duties
fulfilment condition. As per the need, it is essential to implement plan that company requires
related to the rehabilitation for making sure not to rely on similar issue in future and not to
cost less than $440,000. In the company, the order was given for audit program extension to
make sure about the monitoring and regulations including the contractors’ actions. So, there
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should be a creation of separate committee for monitoring the company’s actions to ensure
complying with environmental laws along with investment in rehabilitation plans expansion.
Social Sustainability
Social sustainability in the company’s business is managing and identifying both positive and
negative impact on individuals locally where analysing relationships quality is difficult along
with engaging of stakeholders, customers and shareholders (Lee & Jung 2019). In business,
social sustainability helps in making sure related improvements in the lives of individuals
with the job opportunities contribution along with meeting common requirements by value
chain completeness and providing services (Younis & Chaudhary 2019).
As per the report, there were 58 employees hired in the company to handle the operations
consisting construction and management of trade by experts for performing regular
operations. In the company, “12 new trainees” appointed for expanding its operations where
“17 employees” left the company to join the competitors along with starting business of their
own. The company’s major concern as per the case study was its current hiring rate that is
“20.6 per cent” based on the given data where leaving of employees is at the rate of “29.3 per
cent”. In the report, the action was taken by the management for addressing employees’
problem in case of leaving company with salary packages increment and implementation
system for innovation in roster. It is related to the day-off by ensuring the increase of
employees holding rate. Thus, there should be creation of positive working culture overall as
a focus point of the company for employee turnover reduction and providing attractive
packages to hold employees.
As per the case study, the complaint was filed under FWC (Fair Work Commission) by the
company’s past employee of workplace harassment in the company as a major issue.
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Moreover, employees within the “range of 30 and 50” in the company was reported by the
past employee has an age of “above 50 years”. To leave the company because of other
employees making fun of the age factor is the reason where it was duty of the company to
take some action but they did not to remove this behaviour. So, the commission found the
company guilty competing as per the past employee and told them to pay “$4,400” that led to
the company making changes for anti-discrimination policy implementation in future to avoid
likely activities. The orders were followed by the management as given for workplace
discrimination and harassment reduction by the commission. This is to recommend that
implementation and formation of anti-discrimination policy strictly along with employees’
discriminatory practices engagement for avoid creating negative working environment.
As per case study, media releases issue forced the company to increase interactions for
providing details by local groups related to effects due to actions such as biodiversity
protection. Under the conduct of “Environment Impact Assessment”, the information was
based on company to ensure about the no rare species “extinction of frogs” by taking actions
in the area. In the company, management did not take any actions to provide development of
local groups. The recommendation for the company was to make media releases high related
to initiatives along with investment of senior level management for local communities in
programs development.
Conclusion
To conclude, “Finnegan Constructions” case study reports about the company in various
regions to take actions with operational insufficiency as underlined. In business, the company
resulted with policies failure including to avoid workplace discrimination and other conducts
by the management. The issue requires to be addressed concerning renewable energy sources
usage, taking proactive measures, protecting biodiversity, and employees holding rate
increment. It is essential to identify the impact on stakeholders, customers and shareholders.
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References
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