Analysis of BHP's Sustainable Resource Management Report - BUSN2024

This report analyzes BHP's approach to sustainable resource management. It identifies BHP's stakeholders, categorizing them into real stakeholders, stake watchers, and stake keepers, and discusses how they are related to sustainability. The report explores BHP's use of the triple bottom line framework (social, environmental, and financial) and how it enhances their reputation and contributes to sustainable development. It examines BHP's alignment with the UNSDG goals, including financial assistance and training programs, and their focus on eco-friendly production methods. The report also touches upon the limitations of the GRI report in indicating economic indicators and the potential impact on the company's economic development.

RUNNING HEAD: SUSTAINABLE RESOURCE MANAGEMENT
Sustainability of BHP
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SUSTAINABLE RESOURCE MANAGEMENT
1. In general, people from group who have any kind of interest in an organisation and can affect
or are affected by the business is known as the stakeholders. Though this is a broad
categorisation of the term stakeholder, according to the functions of stakeholders and according
to their relation with the business, they can be defined separately:
1. stakeholders- the stakeholders who have a normative and direct claim on the firm and have
influence on the firm and at the same time can directly influence the firm are called the real
stakeholders.
2. Stake Watchers- those stakeholders whose legitimacy are indirect and have no responsibility
towards the firm are called the stake watchers. These people have power over the firm; however,
the firm cannot exert any influence over them.
3. Stake keepers- the independent regulators having no stake in the firm are the stake keepers.
However, they can impose constraints as well as regulation on the firm.
2. In BHP, the stakeholders are BHP’s Forum on Corporate Responsibility, the business partners
and the employees and the contractors, shareholders and the organizations who are investing.
The stake watchers in BHP are community-based organisations, the labour unions etc. In BHP,
the stake keepers are government, NGO, media etc. these stakeholders are related to
sustainability since the actions of BHP are linked with the economy and environment of the area.
The employees and the business partners who are working directly at the firm are related with
the sustainability since the decisions affect their business and profit margin as well as the
reputation. The indirect stakeholders are affected since the sustainability actions affected
economically and environmentally.

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SUSTAINABLE RESOURCE MANAGEMENT
3. The triple bottom line is an accounting framework that has three parts associated with it. The
three pats include social, environmental and financial stages. This triple bottom line is a
reporting framework that takes an account of how the firm is sustainably performing in three
aspects. BHP in maintaing the 3BL, has extended its means of profit by enhancing their
reputation in looking after the social and ecological balance. With the usage of the environmental
friendly resources and looking after the social responsibility, the firm actually contributes to the
sustainable development.
4. The firm resorts to the UNSDG goals by offering financial assistance and compensation to the
backward class. it also provides adequate training programs to develop the learning goals. In the
sustainable research and community development, the company is aiming at producing more eco
friendly ways of production.
5. The GRI report is not indicating towards the economic indicators. The economic development
of the company may have suffered due to their much focus on sustainability and UNSDG goals.