CSR and Corporate Governance Case Study of Myer Australia

CSR and Corporate Governance
Case Study of Myer Australia

Introduction
The importance of the corporate governance and CSR cannot be denied in the progressive
business environment. It is important to note that most of the organisations in the modern
business environment focus on analysing the importance of corporate Governance and CSR due
to the immense power to drive the overall growth and development of the organisation with the
help of societal development. With so much importance given on the efficient and ethical
business practice CSR has become one of the major issues that organisations face. The corporate
governance has become one of the key aspects of the business it has the ability to ensure that
organisations are able to manage the consistent growth and development with significant
contribution towards the society as well1. The inner activities of the corporate governance might
differ but the sole focus of corporate governance might differ but the sole focus of corporate
governance should be to understand the needs and wants of the stakeholders that would help to
manage them effectively. Myer is one of the leading organisations in the Australia that sells
homeware, fashion items that has helped the organisation to meet the needs and demands of the
consumers2. The organisation concentrates largely on the effective implementation of corporate
governance and CSR. The corporate governance of Myer is focused on the key aspects like:
 The performance of the organisation and the performance of the board.
 The relationship between the board and the executive members.
 The relationship between the stakeholders.
 Emphasis on financial reporting.
 Communication with the shareholders3.
1 Young, Suzanne, and Vijaya Thyil. "Corporate social responsibility and corporate governance: Role of context in international
settings." Journal of Business Ethics 122, no. 1 (2014): 1-24.
2 Grayson, David, and Adrian Hodges. Corporate social opportunity!: Seven steps to make corporate social responsibility work for your
business. Routledge, 2017.
3 Wang, Zhihong, Tien‐Shih Hsieh, and Joseph Sarkis. "CSR Performance and the Readability of CSR Reports: Too Good to be
True?." Corporate Social Responsibility and Environmental Management 25, no. 1 (2018): 66-79.

It cannot be denied that the organisation highly emphasises upon analysing the role of the
different stakeholders in the organisation. The main question that the portfolio asks is what the
role of CSR for an organisation is4.
Literature Review
Contemporary corporate governance is defined as the system or the set of rules, practices and
processes by which an organisation drives the process to control the overall set of stakeholders
important to the organisation. CSR and corporate governance are complementary to each other as
both of them help an organisation to improve the overall social strategy to sustain in the market
for a longer period of time5 (Kitzmueller and Shimshack, 2012). The case study organisation
Myer is particularly focused on the development of a strong strategy which would help the
organisation to manage the social responsibility and corporate governance6 (Khojastehpour and
Johns, 2014). The organisation Myer have clearly announced that they want to focus on being
green and reduce the use of plastic and paper in their operations that contributes to the
improvement of the environment. The concern for social issues has been one of the major aspects
which Myer have emphasised upon. The organisation wants a better performance overall and this
could be done bringing and involving the society in its operations. The organisation has started a
new group 800Thrive to analyse the social concerns effectively. This group has emphasised upon
social and fundamental rights of the employees and consumers effectively7 (Ruggie, 2017).
4 Ruggie, John Gerard. "The theory and practice of learning networks: Corporate social responsibility and the Global Compact." In Learning To
Talk, pp. 32-42. Routledge, 2017.
5 Andrews, Nathan. "Challenges of corporate social responsibility (CSR) in domestic settings: An exploration of mining regulation vis-à-vis CSR
in Ghana." Resources Policy47 (2016): 9-17.
6 Khojastehpour, Morteza, and Raechel Johns. "The effect of environmental CSR issues on corporate/brand reputation and corporate
profitability." European Business Review 26, no. 4 (2014): 330-339.