MBA402 Governance, Ethics and Sustainability Report 3 Sample
Your Task
Your assignment consists of two parts:
• Part A: You are also required to identify the risks stated in the CEO’s letter and classify these identified risks into the four categories covered in Week 10.
• Part B: You are required to prepare a sustainability assessment report for Tactical Gro
up. Refer to the marking rubric at the end of this document for the marks allocated to each part.
You are required to watch the following YouTube clips:
1. The GRI Sustainability Reporting Standards: The Future of Reporting
https://www.youtube.com/watch?v=AGqE4OO0_7g&t=3s
2. Introducing the GRI Standards
https://www.youtube.com/watch?v=RDe8Kkh1BrU&t=2s
3. How to use a Risk assessment matrix:
https://www.youtube.com/watch?v=-E-jfcoR2W0
You must also read the Message from David Partridge, the CEO of fictional company Tactical Group.
Assessment Instructions
Part A: Risk assessment
For each area discussed by the CEO in the letter,
• identify the risk being addressed by the action being taken by the company and
• classify and justify each action according to the four major categories of risk:
o Avoidance (eliminate, withdraw from)
o Reduction (optimise – mitigate)
o Sharing (transfer – outsource or insure)
o Retention (accept and budget)"
Part B: Sustainability Report
You must prepare a sustainability assessment report for Tactical Group.referring to the Consolidated Set of GRI Sustainability Reporting Standards 2016 that specifically addresses:
A. Economic sustainability
i) Disclosure 201-4 Financial assistance received from the government
ii) Disclosure 203-1 Infrastructure Investments and services supported
iii) Disclosure 204-1 Proportion of spending on local suppliers
B. Environmental sustainability
i) Disclosure 301-1 Materials used by weight or volume
ii) Disclosure 301-2 Recycled input materials used
iii) Disclosure 306-3 Significant spills
C. Social sustainability
i) Disclosure 408-1 Operations and suppliers at significant risk for incidents of child labour
ii) Disclosure 412-2 Employee training on human rights policies or procedures
iii) Disclosure 417-3 Incidents of non-compliance concerning marketing communications
You will be required to include a minimum of 5 references in your Sustainability Assessment Report which must come from academic journals or textbooks. Answers to both Part A and Part B should be included in the same word document and uploaded on turnitin.
Solution
Part A: Risk Assessment
Risk Assessment Matrix
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Part B: Sustainability report
Introduction
Every business organisation has to face risks and unforeseen uncertainties that can have major impacts on the sustainability of the business in the short and long term. Uni Assignment Help, A sustainability report’s purpose is to make sure that the organisation considers their potential impacts and effects on issues of sustainability (Why Sustainability Reporting is Important for Business | InCorp Global, 2021). It enhances the organisation's transparency about the risks and various opportunities that come their way. Mentioned below is the sustainability report of Tactical Group.
Background
Sustainability reporting is one of the most essential elements in today's business environment. It reflects economic, social, and environmental effects that occur due to every day's task of a business organisation. Through the help of sustainability reporting business organisations can estimate, understand, and convey their performance related to governance, social, economic, and environmental (Yáñez et al., 2019). It also helps effectively change, manage, and establish business objectives. In the modern business world, customers or stakeholders would believe the claims made by the business organisations regarding their level of sustainability. To gain the trust of the stakeholders it is important to establish a sustainability report.
Methodology
The GRI reporting standards develop a common language for business organisations irrespective of their type and size. It has been developed for reporting their sustainability effects in a credible as well as consistent manner. The GRI reporting standards improve comparability across the globe. It also helps business organisations to remain accountable and transparent. The standards are developed and designed in a way that every business organisation can easily use them. According to the subject matter of the company, the standards are then chosen (Gallego-Álvarez et al., 2018). The standards of GRI ensures to provide a clear picture of the subject matter of the company along with their effects and actions.
A. Economic Sustainability
Economic sustainability refers to the strategies that help in promoting the optimum utilisation of resources, especially socio economic ones so that they can be put to their best use (Sadriddinov et al., 2020). An economic sustainable model suggests an equal distribution and structured allocation of the resources and financial aids so that long term benefits can be reaped and profitability of the business can be established.
The various economic sustainability challenges that contemporary businesses have to face these days are advancing circular economy, government actions, holistic thinking and action, consequences and effects of actions on SDGs, etc.
B. Environmental sustainability
Environment sustainability refers to the responsible interaction of businesses with the planet in order to maintain the quality and quantity of natural resources and not jeopardize the next generation’s ability to meet their future requirements and needs (Sobti et al., 2018). In other words it is the power and capacity to enhance and improve the present as well as future generation’s quality of life along with maintaining the complex relationship with the earth's ecosystems.
C. Social sustainability
Social sustainability is related to the company's responsibility towards its employees, community, and product. Along with economic and environmental sustainability, social sustainability is also important for business organisations. Business organisations must identify the issues in their operation in respect of customers and the employees (Ahmadi et al., 2017). For addressing social issues, business organisations must be able to prioritise awareness. The common issues under this heading are employees being treated unwell, ineffective labour practices, high level of diversity, employee’s health and safety issues, and several others. Ensuring equality and maintaining human rights at the workplace are the common issues faced by the majority of business organisations (Schönborn et al., 2019). Through effectively managing social sustainability the business organisation can gain in terms of brand recognition, sales, profit, customer loyalty, growth, effective and efficient staff, and capital availability.
Conclusion
The sustainability report of Tactical Group has helped the organisation as a useful and significant risk management tool that will help the company make better decisions in the present and future. This will eventually increase profitability of the organisation, generate savings and increase the loyalty and trust of stakeholders.
Reference list
Ahmadi, H.B., Kusi-Sarpong, S. &Rezaei, J., 2017, 'Assessing the social sustainability of supply chains using Best Worst Method', Resources, Conservation and Recycling, vol. 126, pp.99-106, retrieved 10 June 2021 <https://www.researchgate.net/publication/318494297_Assessing_the_social_sustainability_of_supply_chains_using_Best_Worst_Method>
Araz, O.M., Choi, T.M., Olson, D. & Salman, F.S., 2020, ‘Data analytics for operational risk management’, Decision Sciences, 51(6), pp.1316-1319, retrieved 10 June 2021 <https://www.researchgate.net/publication/339938737_Data_Analytics_for_Operational_Risk_Management>
Gallego-Álvarez, I., Lozano, M.B. & Rodríguez-Rosa, M., 2018, ‘An analysis of the environmental information in international companies according to the new GRI standards’, Journal of cleaner production, 182, pp.57-66, retrieved 10 June 2021 <https://www.sciencedirect.com/science/article/abs/pii/S0959652618302713>
InCorp Global. 2021, ‘Why Sustainability Reporting is Important for Business | InCorp Global’ [online] Available at: <https://www.incorp.asia/singapore/learn/why-sustainability-reporting-is-important-for-businesses-in-singapore/> [Accessed 11 June 2021].
Nguyen, P.T. & Nguyen, P.C., 2020, ‘Risk Management in Engineering and Construction’, Engineering, Technology & Applied Science Research, 10(1), pp.5237-5241, retrieved 10 June 2021 <http://docsdrive.com/pdfs/medwelljournals/jeasci/2017/5347-5352.pdf>
Samimi, A., 2020, ‘Risk Management in Oil and Gas Refineries’, Progress in Chemical and Biochemical Research, 3(2), pp.140-146, retrieved 10 June 2021 <https://www.researchgate.net/publication/341503316_Risk_Management_in_Oil_and_Gas_Refineries>
Schönborn, G., Berlin, C., Pinzone, M., Hanisch, C., Georgoulias, K. &Lanz, M., 2019, ‘Why social sustainability counts: The impact of corporate social sustainability culture on financial success’, Sustainable Production and Consumption, 17, pp.1-10, retrieved 10 June 2021 <https://www.sciencedirect.com/science/article/abs/pii/S2352550918301465>
Sobti, R.C., Arora, N.K. & Kothari, R. eds., 2018, ‘Environmental biotechnology: for sustainable future’,Springer, retrieved 10 June 2021 <https://booksite.elsevier.com/samplechapters/9780123750891/9780123750891.pdf>
Willumsen, P., Oehmen, J., Stingl, V. &Geraldi, J., 2019, ‘Value creation through project risk management’, International Journal of Project Management, 37(5), pp.731-749, retrieved 10 June 2021 < https://fardapaper.ir/mohavaha/uploads/2019/06/Fardapaper-Value-creation-through-project-risk-management.pdf>
Yáñez, S., Uruburu, Á., Moreno, A. &Lumbreras, J., 2019, ‘The sustainability report as an essential tool for the holistic and strategic vision of higher education institutions’, Journal of Cleaner Production, 207, pp.57-66, retrieved 10 June 2021 <https://www.sciencedirect.com/science/article/abs/pii/S0959652618329007>
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