Report on Sustainable Enterprise
Added on 2020-05-28
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RUNNING HEAD: Sustainable EnterpriseSustainable Enterprise
Sustainable Enterprise 1ContentsIntroduction......................................................................................................................................2The Enterprise- Bank Australia.......................................................................................................2SWOT Analysis...............................................................................................................................3PESTLE Analysis............................................................................................................................4Dimensions in Dunphy Phase..........................................................................................................5EGSEE: Impact and Indicators........................................................................................................6Sustainability Dimensions...............................................................................................................8Socio- cultural Dimension as the specific Sustainability Area........................................................9List and Assessment of Indicators for Monitoring..........................................................................9Time Frame and Monitoring System.............................................................................................11Conclusion.....................................................................................................................................12References......................................................................................................................................13
Sustainable Enterprise 2IntroductionA sustainable enterprise can be defined as a business which takes into account such processes that creates minimal negative impact on the local or global environment, society, community or economy. In other words, a sustainable business is the one that strives to meet the triple bottom line The maintenance of a monitoring system is done by the high level managers of the organization who possess special skills for maintaining it. The different dimensions of an organization are represented in the various aspects of the monitoring system namely socio- cultural, economic andenvironmental dimension which can be measured by effective indicators.This report focuses on the three dimensions of sustainability namely socio- cultural, economic and environmental of an enterprise which is a bank in Australia named ‘Bank Australia’ along with the detailed description of the enterprise, application of these sustainability indicators to the enterprise and the list of indicators which can assist in the monitoring of the specified dimension.The Enterprise- Bank AustraliaBank Australia, formerly known as bankmecu and earlier to that, the Members and Education Credit Union (mecu), is a Kew, Victoria based Australian financial co- operative. Bank Australiais recognized to be a customer owned responsible bank which operates in a business for the purpose of creating mutual prosperity for the communities they operate in, their customers and the planet (Bank Australia, 2018). The profits made by the bank are invested back for the purpose of providing various benefits to their own customers in the form of fairer fees and better interest rates. The customers have been banking with Bank Australia since 1957 and therefore Bank Australia has a rich history of 60 years.The customers of Bank Australia prefer it over other banks due to its personal service and competitive prices. Moreover, Bank Australia is renowned due to its progressiveness and genuineness in terms of mirroring their values while playing an important role in building a fair, strong nation and a healthy planet. Now Bank Australia has become a bank which all Australianscan call their own.
Sustainable Enterprise 3Bank Australia has various branches located all around Australia and provides the facility of banking online and over the phone. There are more than 3,000 rediATMs of Bank Australia all across the country. It has now become the choice of nearly 1,24,000 customers and community sector organizations for their banking needs across Australia. Banking services are offered to hundreds of charitable funds, NGOs and community groups by Bank Australia. In addition to providing products and services of great value, investment of 4% of its after tax profits are made into the Bank Australia Impact Fund which provides funding to the projects having quantifiable impact on planet, people and prosperity. Their present areas of priority include gender equality, non- profit/ social enterprise, environmental sustainability, disability, reconciliation and educational disadvantage.Moreover, Bank Australia also makes investment in partnerships in order to support those fund projects which address educational disadvantage along with the professional development of education professionals. It has also established partnership with CSIRO with the view to support the access of science education by indigenous students along with the provision of scientific calculators to the disadvantaged students by their State Schools Relief funding SWOT AnalysisThe strengths, weaknesses, opportunities and threats faced by Bank Australia are presented below-StrengthsThe strength of Bank Australia lies in the responsible banking performed by it. It is preferred by the customers due to its personal service and competitive prices. Along with banking activities, italso takes steps for creating a healthier planet. It leads the banking industry as a carbon neutral bank and takes steps to reduce the environmental impact by offsetting the carbon emissions associated with car loan of every customer.WeaknessBank Australia is still not popular among the people residing in Australia even after 60 years of its operations. The earlier name bankmecu was also confusing and did not appeal to people. It is
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