Assignment On Governance Ethics And Sustainability

Governance,
Ethics, and
Sustainability
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S t u d e n t N a m e :
S t u d e n t U n i v e r s i t y :
Timberwell
Constructions

INTRODUCTION
Sustainability covers supporting economic, environmental and social demands where
business sustainability coordinate and manages these demands for looking over the on-going,
responsible and ethical success also named as corporate sustainability (Stacchezzini,
Melloni & Lai 2016). A traditional concept of sustainability includes triple bottom line to
consider evaluating efforts related to short-term effect on profits (Ehnert et al. 2016).
Business sustainability is important for focusing on the factors maintaining the equality
between company’s local impacts and its sustainable progress to make sure the positive affect
on key stakeholders (Khan, Serafeim & Yoon 2016). In the business, it is essential to
make sure the complying of sustainability policies to maintain the transparency of operations
effectively. GRI (Global Reporting Initiative) Reporting Standards are the global guidelines
which make company dependent on the actions and practices effectively ensuring effect on
stakeholders, customers and shareholders by the management to take care (Vigneau,
Humphreys & Moon 2015). The applicability of these guidelines globally for reporting
sustainability and featuring the structure of inter-relatedness and showing practices to report
at the world-wide level with different environmental, social and economic local impacts (del
Mar Alonso-Almeida et al. 2015). “Timberwell Constructions” case study is analysed
implementing the GRI Reporting Standards for preparing sustainability assessment report of
the company pointing at the local impact of shareholders, customers, shareholders and other
key stakeholders.
ECONOMIC SUSTAINABILITY
Economic sustainability is an essential part of sustainability for sustainability and securing
the human resources and material for long-term in the economy. Sustainability is measured
by recovery, recycling and optimal use for fulfilment of needs of the individual’s better future
(Zhong & Wu 2015). To earn returns and valuing investments for long-term requires the
use of natural resources in the global economy (Löf 2018). It is to ensure the ability of
supporting the economy in production and not to waste valuable resources to address the
problem of climate change and other (Mota et al. 2015). The engagement in the corrupt
activities pushes to take actions for avoiding and ensure about not harming the interest of the
shareholders, customers and stakeholders.
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The financial implications faced by “Timberwell Constructions” and climate change related
risks as per the changes made by local authorities. Further, execution of “Local
Environmental Plan (LEP)” by “Stanwell Council” to handle the challenges related to climate
change as implemented by the local authority for making sure about the company’s safety
protection from bushfire. It is expected from the companies to use fire-retardant materials
related to the new guidelines at the construction sites. The company was prone to bushfire as
mentioned in the fact for the changes by local authorities in the area for the development of
site. The steps are taken by the management to address the issue of the company after the
changes made within six weeks and working with local authority. It is important in the
planned organization to be sure about the process in the outside area to work efficiently with
reduction in costs with the four million dollars with fee payment of fifty thousand in the
working of the company to hire. It is recommended that the company should change its
location which complies with LEP guidelines and it should use fire-retardant materials.
As per the current investigation, “five employees and two external consultants” were engaged
in the corrupt activities in “council project offers” after the bribery. As proved by the local
authorities, the individuals were charged for the corruptions. Moreover, the steps were taken
for future regarding employees to avoid expected activities. Within this time, the company
disallowed the pay to the employees after the suspension. The management of the company
stepped towards taking the decision of not to work with the consultants find guilty. It is to
recommend that senior level management should strictly prohibit corrupt actions of
employees and they should formulate anti-corruption environment in the organization.
The series of complaints lodged against the company after the investigation started under
“Australian Competition and Consumer Commission (ACCC)”. After the investigation, it
claimed that the executives of the company worked to learn about the planning of builders
group to start the operations of their own with competition increment for the company.
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