Governance, Ethics and Sustainbility
Its The base subject of every organization as without the same the existence of an organization is at risk. It brings together the science of the process, planning & execution in a given organization without having any inclination towards the size of the corporate. Management as a whole has various characteristics: Its universal, goal-oriented, continuous process, multidimensional, involves group activity & dynamic function, which are coordinated for optimum usage.
Management is the summation of men, machine, material, money and methods, which contributes as an encyclopedia for the employees working in the organization while maintaining a coordinated approach towards achieving the vision of the company.
Every company operating in the business system is currently facing the issue of sustainability, where a company is expected to address the efficient utilization of resources. There are majorly three pillars, which are crucial and are identified for addressing by every organization so that they can ensure that their ultimate goals can be met. The three components are economical, social and environmental sustainability. In the given case, the company XYZ is a company that indulges in residential development that comes across many issues of sustainability. A sustainability report is crafted to highlight the difficulties encountered in the lifecycle of an organization and the resolution to address the same.
A. Economic sustainability:
There has been a constant improvement approach being undertaken by the company XYZ in managing and supporting its financial durability. Companies have conducted the procedure for integration, and achieving its economic sustainability in framing strategies with the primary focus on the creation of long-term value for its stakeholders. It will help in enhancing the financial performance along with establishing faith of the shareholders on the company, thereby increasing the inflow of capital. The fact that enhances utmost significance is the identification of the business strategy with the issues of sustainability in both the aspects by the development of the position of the business. The conduct of environmental evaluation by the company is to align its economic sustainability with the business policies and ensuring the real impact of its activity and reduction in the adverse effects on the environment.
Further, it can be examined that the company is making full utilization of its policies and procedures to continuously develop and improve its business process with the motive of achieving its goal of economic sustainability. A system needs to be configured that focuses on policies of discrimination, theories on the circumstances, policies on ethics and the code of conduct so that the compliance laws are met. An organization like XYZ focuses on utilization and implementation of its policies and systems that are well established to have an improvement in its process of business and to gain sustainability. The organization conducts necessary review processes for implementing policies, procedures and economic sustainability maintenance. The company focuses on planning and implementation of the systems for the utilization of its sources effectively.
i) financial associations and other risks and opportunities due to climate change:
The company XYZ faces risks of economic sustainability along with its environmental sustainability and assessment. The organization faces implication in terms of its economy since it has to comply with the Stanwell Council in the amendment suggested by the company as per the local environmental plan. Councils have recognized areas which are identified and assessed to meet the warning outcomes of change in the climate and the risks of fires in the bush. The Stanwell District have come up with various standards to meet the high standards of safety from bushfires. Some of them are having a considerable distance in between the buildings and boundaries of land, usage of materials for fire retardant building. They have a site in the district of Stanwell in an area which is rezoned as a bushfire prone. Companies with the council of Stanwell pursue consultations complying provisions which are set up in the LEP.
Incase the organization XYZ faces the economic fallout, the implementation of the policies will have a cost of $ 4 million. To protect the environment and for ensuring the financial sustainability needs to set aside all the resources, including financing for the sake of protecting its environment. The company has planned to incur $50,000 as cost towards external town planning which has its focus on minimizing the expenses for the requirement of LEP.
You are required to select an ethical issue which has been reported in the news media in the past 12 months