Business Communications Skills Assessment 1: Summary Assignment

This assignment, completed for a Business Communications course, provides a summary of three key business-related topics. The first section discusses a major fraud case involving Australian superannuation funds, where over $10 million was stolen. The second section summarizes the Reserve Bank's confirmation of economic growth and the budget's return to balance, highlighting the potential impact on households and retail sales. The final section defines and analyzes the concept of green washing, where companies make misleading environmental claims, and its negative impact on brand image and customer trust, emphasizing the need for companies to adopt genuine environmentally friendly practices. The assignment follows specific formatting guidelines, including word count, font, and spacing, as outlined in the assignment brief.

Running head: MANAGEMENT
Management
Name of the Student
Name of the University
Author note

1MANAGEMENT
A)
Australians were advised to check super balances after detection of fraud by Jasmine
Vella-Arpaci of 10 million dollars, which included REST Super and HESTA and CommSec,
biggest retail share broker.
B)
Reserve Bank has confirmed boost in growth of economy and budget will be back in
balance for the very first time in decade, which will deliver boost to the different households
who are cash-strapped. However, on one end, it will benefit low and middle income grouped
customers, on other end, sales of retail becomes weak and value of sales decline.
C)
Green washing is defined as the practice of making misleading kind of claims regarding
the different environmental benefits of the products or services or different practices of the
company. The green washing makes the company more sustainable than it is in real which can
misguide the customers and it is the major way of cheating the customers who trust the
companies. In the United States of America, it can be seen that there are different new
organizations which are making the greenness in the different advertisements which are being
showcased by them for attaining more customers and cheat customers. Many of the companies
lay vague as well as dubious kind of claim to the environmental type of stewardship which is
known as green washing and it affects the brand image of the company negatively as well.
It is not considered to be the recent phenomenon as there are various companies that are
utilizing the same concept for becoming more environmentally friendly and cheat customers. It is

2MANAGEMENT
becoming the way of convincing the various customers in market regarding the products which
are sold by them are healthy and boost their public image. However, there have been various
incidents which have been seen that they are bluffing the customers and it affects the trust of the
customers from such companies (Dahl 2010). In addition, the unsubstantiated or deceptive
claims which are being made by the companies are disadvantageous for the companies as for a
certain period of time, the public image can be improved, however, in the long-run, it will be
impacting the brand image and the profitability of the company negatively.
They try to create distrust as well as reduction in the confidence among the customers in
legitimate the different environmental benefits and disadvantage for the ethical traders which are
being present in the economy as the customers will be in dilemma to trust the companies and it
affects the growth of the companies negatively (Dahl 2010). The green washing has become a
social problem which has affected the profitability and revenue generation aspects of the
company negatively and it has affected the claims which are made by the company in a negative
manner. Lastly, it can be concluded that the companies need to stop applying the green washing
concepts and become environmentally sound as it will be making them grow bigger in the long-
run and provide better services than competitors present as truly green type of products will back
up their claims with facts (Dahl 2010).

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References
Dahl, R., 2010. Green washing: do you know what you’re buying?.