Sustainability Assessment of Indian Oil and ITC

Running Head: MANAGEMENT
0
Business, Society and Planet
5/7/2019

Management
1
Contents
Introduction............................................................................................................... 2
Qi Company overview and Industry and performance issues...................................................2
INDIAN OIL CORPORATION...................................................................................2
ITC Limited........................................................................................................... 2
Q ii Social, environmental and Economic issues of ITC and Indian Oil......................................3
Q iii Sustainable development Goals (SDGs) of ITC and Indian Oil..........................................4
Q iv Sustainability Phase/s (Dunphy, Griffiths & Benn)......................................................4
Q v. Vision, Mission, and values of the companies...............................................................6
Q.vi Reflection on the group in context to the work.............................................................7
Conclusion................................................................................................................ 7
References................................................................................................................ 9

Management
2
Introduction
The report brings about the discussion on the assessment of the sustainability of a
business organisation, and the approach to social responsibility and social performances. For
understanding the concept of the business sustainability two companies has been taken i.e.
Indian Oil and ITC. The concept of sustainability is defined as the management of the triple
bottle line within organisation. It refers to the process of managing three aspects, i.e.
financial, social, and environmental risks and obligations. The analysis of the social
responsibility or sustainability of the business, several other aspects will be mentioned in the
assignment. These consist of the core business activities, vision, & mission, values, of the
company. In the process of discussion of sustainability of businesses, the phase of the
sustainability will also be mentioned. In the later part, the report will discuss sustainable
goals of both the companies that are found relevant within industry.
Qi Company overview and Industry and performance issues
INDIAN OIL CORPORATION
Indian Oil Corporation Limited (IOCL), or Indian Oil established in the year 1959, is
an oil and gas company owned and governed by Indian state. The company is headquartered
in New Delhi, and recognised as the largest commercial oil company in the country. Indian
Oil operates within oil Industry, and the key products in which the company deals include
Petroleum, and Natural gas (Shin et al., 2015).
The aspect of social reporting and sustainability are vital to every business
organisation irrespective of their trade of operations. Social reporting states the reporting on
some domain activities of the business that leads to impact on the society. For an example,
the issue of carbon emission in Indian Oil has been a major social issue that contributes to the
climate change causing harm to the environment, and humans. Carbon emission increases
the global temperature by absorbing the solar energy in the atmosphere. Therefore, social
reporting states the issues affecting the performance of the company (Dyllick & Muff, 2016).

Management
3
ITC Limited
ITC (Imperial Tobacco Company of India) Limited is the Indian Multinational
Company established in Kolkata, West Bengal. The company operates as within the
conglomerate industry and deals in consumer goods, such as cigarettes, apparels, education,
hotels, resorts and others.
Social reporting or the key performance issues of ITC consist of the problems that
affect the individuals working in the organisation, i.e. community at large. Labour practices,
and occupational health and safety. ITC puts special emphasis on occupational health and
safety aspect of the employees working in the organisation. The safety management system is
tuned to ensure training and other communications are used properly to reduce the risks of
accidents at workplace. Ineffectiveness in these aspects may lead to performance related
issues of the organisation (ITC, 2018).
Q ii Social, environmental and Economic issues of ITC and Indian Oil
The socio-economic issues in context to the conglomerate businesses mainly include
the issues that arise due to the human action, and it therefore affects the employment and
inequality. Moreover, the environmental risks or issues consist of the weather events,
biodiversity loss, failure of the climate change mitigation and others. Furthermore, to ensure
positive environmental impact, ITC is focused towards adopting the low carbon growth
strategy. This focuses on the enhanced use of renewable energy and assures proper
management of the energy and water consumption. Three-prolonged approach is used by ITC
to overcome the negative impact of these issues affecting performance in the environment.
This represents the strength of the approach through a proper system to first identify the issue
and then taking measures to control. Triple-bottom line approach is used by the company,
which contributed to the effective of CSR (Manu & Indira, 2018).
Discussing socio-economic and environmental impact of the company Indian Oil,
stated a difference from the conglomerate businesses. As both, the businesses vary in their
operations; therefore, issues affect their performance on basis of different factors (Xiao et al.,
2017). Air Emissions leads to the potential risk of respiration irritation, discomfort, or illness
to workers affect the individuals, i.e. society. Due to influx of workers during the phase of
construction can create the pressure on the infrastructure such as water, healthcare, and
electricity. This is the economic impact observed within Indian Oil. Water management and