Corporate Social Responsibility Report Trading Industry

Question: Describe about the Report for Corporate Social Responsibility Report of Trading Industry. Answer: Introduction Corporate Social Responsibility (CSR) has been defined by many scholars and organizations. Most scholars and people have given almost similar definitions and thus it has been adopted by millions of organizations and persons all over the years throughout different sets of decades. Majority of these elites have defined CSR as a business system that enables generation and distribution of wealth with purposes of betterment to the stakeholders. It was first introduced in the year 1920 but later on collapsed. Its crumple was caused by break out of World War II. [i]However, it rose again in the year 1950 in organized way. Its fruits are being observed up to date. Most companies are being called upon each and every day by stakeholders in order to help address issues affecting the country. These issues include economic development and environmental management. They are expected to address these problems unconditionally since they are in better position to do so rather than relying on the gove rnment and the donors to bring about aid to the community. Corporations can perform well in their administration of corporate social administration when they work in a conjoined form with the stakeholders. This is because these groups of persons are in a good position in understanding the needs of the society. Likewise, they have the knowledge, which is the mechanism of sorting out the issues affecting the society. The problems to be handled by the organization as their social responsibility to the community are supposed to be addressed on time. This enables the company to plan in advance and prevent it from being subjected into financial crisis in the company. Early notifications also help in the decision-making process concerning crucial matters affecting the company as they deliver their services to the society. Scope of engagement Communicator audit is a duty given to an individual to carry out the work of checking out whether the company adheres to the sustainability policy. This duty entails going through several documentation and the structures of the company in order to obtain the information. One ought to go through the financial reports and the sales daybooks among others showing the transactions of the company. During the course of communicating on the sustainability concept, one should also look into the files of the human resource manager to get the information on the criteria of employing workers in the organization. During my research at the BHPs companies, I realized that their corporate charter clearly emphasizes the centrality and significance of the corporate social responsibility. This company has substantial interest in the convention and unconventional oil and gas businesses in the world. They are classified among the best performing manufacturing in the European region. Due to its performanc e mechanism, handling these issues based on their credibility is of great magnitude. This is because it samples out the behavior of developed organizations in the world. They deal with the highly rated pollutants across the world. During my course of work, I realized that they are performing very well in the sustainability concept of the society. This company has put in place stringent measures to aid in the conservation of the environment. First, the dirty water, which is normally released into water bodies, are recycled and reused back into the industry. The excess is pumped into the nearby villages to be used in running day-to-day activities. This helps the community by reducing the burden of walking long distance to obtain water. Moreover, the cost is reduced since it is given free of charge unlike those ones of the municipality in which one is required to pay a certain amount of money in order to receive. Another method they use in the conservation of the environment is through burning of waste and indecomposable material in the incinerators. This helps in the reduction of the gases to the ozone layer. This prevents the depletion of the ozone layer and thus health of the surrounding community is preserved. This company has also invested in the society so richly by planting trees within and outside the vicinity. This helps in making the climate of the area favorable for human homage. This companys board of directors closely complies with the government through the payment of taxes[ii]. This revenue collected is used in the development of different vicinities, which are entitled to create a better society. These vicinities include hospitals and schools. I realized the employment chatter of this company states that the employment consideration is prioritized on the locals first. This group through community based programs work hand in hand with the company to support the neighborhood. Their salaries are paid with certain percentage being for the corporate re sponsibility of their people. In their sustainable approach documentation, it came into my attention that this company is defined by Group Level Documentation. This describes the mandatory requirement and the accountability of the company to its stakeholders. According to it, they are expected to comply with the international council on mining and metals sustainable development framework, which is a requirement stipulated by the United Nations. This certification requires them to deal with the pollutions caused by these minerals as soon as they realize in order to prevent the human life from dangers brought about by such. They are also entitled to set workplace standards to enforce applications through the operated assets. They are also entitled to identify and operate on their material risk. This provides a strong foundation for active and consistent risk-based approach for sustainability of the environment and people wellbeing[iii]. The implementation also touches on the assessment of risk and consideration on the potentiality to health, community, environment, and the safety of the employees and the stakeholders. The employees are insured so that in case of a fatality in the line of duty, their families will still survive from the savings of their beloved one. Reference of CSR according to academic literature and industrial stand Although corporate social responsibility has been introduced many decades ago, its implementation and definition remain a continuous debate among many scholars and organizations worldwide. According to findings, many feel the stakeholders have exploited them. This is because they view that they run business to get profits to sustain themselves and develop their more business. They view this charitable work as an encouragement of laziness to the society since they just wait to be facilitated by the companies running within their locality. In literary and industrial cumulative definition is that sustainability responsibility refers to a business system that enables production and distribution of wealthy from the industries or corporations with key to betterment of the stakeholders. This is done through integration of ethical system and sustainable management practices. It is usually coupled by system approach in the company. The concepts used by the academicians and the industrial stan dards helps in supporting terminologies, which are required in developing visions that enables corporations to success manage the CSR[iv]. Academicians and the industrial standards started to do thorough research on the sustainability concept of the society in the year 1979. This was propelled by evolution of the CSR in that particular year. One of the leading academicians called Peter Ducker was the first to debate on this issue. According to him, social responsibility is simply the enjoyment of the company output by the company itself. This scholar believed that one ought to treat oneself nicely after hard work. He never agreed on the fact that it should get back to the society unless through employment. The subsequent authors on this matter completely disagreed with him. Carol Cuso is also another academician who tried to explain what corporate social responsibility is to her readers. The companies while maximizing profits must apply sustainability responsibility. She added that, they should also follow rules and the regulations set by the government in running of the limited liability companies. Apart from that, she also suggested the business should also extend its responsibility in order to cater for the needs of the society whether directly or indirectly. She stressed more on the ethical perspective of the corporation in alignment with doing their business activities[v]. Through an intensive research carried out in the libraries and the archives, it came into our attention that over 37 independent scholars have tried to explain the model behind the definition of corporate social responsibility. Among the numerous elites, one finds that there is lack of balanced definition. This is attributed by the fact that none of them provides a guidance towards it. Organizations such as the International Satisfied Organization (ISO) have also tried to give out the definition of the sustainability concept of the company to its stakeholders[vi]. This company later on created the definition, which is used extensively worldwide to define corporate social responsibility in all works of the society. This definition was first adopted and used by the private and public companies before other relative business organizations decided to also use it. ISO stated that the understanding of CSR is all about human rights, organizational governance, labor practices, community invo lvement, consumer issues, the environment, and fair operating practices[vii]. Besides, its system is made up of production and the distribution of wealth, ethical system, stakeholders management and the sustainable business practices. The capitalists principles approach on the proposed definition of sustainability advance was characterized by conflicts from the Islamic states. Most companies around the world adhere to the principle advantage and goal of these measures. However, some of them view it as waste of the profits of the company. CSR claims embedded in BHP's vision and strategic documents BHPs Billiton Company has a very well developed and followed vision while addressing what is required of them by the society and the stakeholders at large. One of the embedded information found in the documents of this company is the responsibility to the government. BHPs Billiton runs its operation in line with regulations and the rules stated by the government. It ensures that the taxes and the services to the citizen that is the employees and the other stake holders needs are adhered to as required by the law of the land. This is done through the board of directors who oversee the requirement and guide the management into exercising this requirement. Additionally, the BHPs ensures that the society is protected while they administer their duties of manufacturing hard metals. This is done by ensuring that they dispose of the waste in a synchronized manner to avoid coming into contact with the human beings as they carry their day-to-day activities. The societys financial incapacitati on is also protected through offering of employment opportunities. Additionally, they are given opportunities to subscribe to the companys tenders to gain profits in the event of winning of the tenders. They also build social amenities such as hospitals and schools. This will lead to enhancing the knowledge ability and the health wise of this people. Corporate identity and ethics is also among the factors the company practices with aim of building its society. They work according to the norms, which governs the surrounding populace. This is because the tradition of the people is very important and thus the need to follow the prescribed code of behavior by the company is necessary. This will lead to its increment in the productivity[viii]. Moreover, the reputation received from the public is outstanding. This is because the society is a mirror and your actions will be rated according to your deeds. BHP is also expected to be accountable to its work. This means that whatever happens, whether they were aware or not and it is within their dimension, they should make sure it is well sorted out. Apart from that, they should account to different stakeholders in the business. For example, they should ensure that the employees are paid their remunerations are required and on time. They are also supposed to be accountable in waste management sector. They should ensure that all pollutants are disposed responsibility to avoid contamination of the environment. Another major thing they must do come what may is collaborating with the stakeholders. This group helps in giving out information concerning important issues and the strategies they should put in place in order to facilitate trading. The stakeholders also help in giving out the information about how the community leaves so that when planning for the sustainability, appropriate budget is on the table[ix]. BHPs claims measurement According to the communicator approach done, one realizes that the governance found in the document of this company is measurable in nature. This is seen by the observations that all the required as specified by different bodies licensing this company is adhered to. Further, certificates awarded to this company from different organizations for their complete submission in the assistance of the community is inevitable. The way in which they dump their waste and the large recycling process in progress in the compound of this company gives them a big and inclusive outstanding charitable organization in the area[x]. Discrepancies between communicated intentions and corporate practices Most companies normally enter into business with great views and compliance to the CSR requirement. However, as time moves by, they start to slag in the provision of the incentives to the public. These are caused by issues such as corruption among the officials in the company, conflicts resulting between the company and the community and the fluctuation caused by prices mechanisms. Recommendations For any company to succeed, it should have certain qualities, which lure the customers. This can be obtained through inspiration of the masses. This helps in marketing of the products indirectly and thus improvement of the CSR. Transparency should also be geared since it is one way of giving the community a reason to belief in your capability. One should also develop a rationale argument uplifting the case of the company.[xi] Conclusion CSR is one of the greatest achievements ever developed in the trading industry. The government should be very tough to the businesses in order to ensure that this is followed to the latter. This will help in the eradication of the poverty since those who do not have help can access it from the capable ones in the universe. Companies should learn to be transparency in aiding the community since in one way or another they are the market of the produce in pipeline. Top of Form Bottom of Form Bibliography Asbury, S., Ball, R. The practical guide to corporate social responsibility: Do the right thing. New York: 2016. Bhaduri, S. 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