Analysis Of The Warehouse Group
In this essay I will include a detail research in the development of corporate social responsibility and how it has been absorbed into integrated reporting in the last 25 years. In this essay I will be using The Warehouse Group LTD 2016 annual report as an example to present my information. The Warehouse Group (WGL) was funded by Stephen Tindall In 1982 and is the largest retail group operating in New Zealand (Warehouse Group, 2016).
Social Corporate Responsibility Definition Corporate social responsibility (CSR), is defined as a corporations initiatives to assess and take responsibility for the company effects on environment and social wellbeing. This definition has many key aspects to it which is expected by the society …show more content…
Sustainability is value and support public policies and clear understanding of the environmental rick that may be cause by the organizations actions and decision (Alex Perera, 2013)
Legal Responsibilities Organization should obey all legal responsibilities that are required by the law. There is an increasing issue where company try to avoid legal responsibilities such as environmental law. Company should have strong understanding of the legal responsibilities that is required by the organization and the society (M.Sally, 2016)
Ethical responsibilities Ethical responsibilities is an aspect that a company choose to undertake because they believe it’s the right thing to do because they have an obligation to follow the ethical standards. Ethical responsibilities is the duty to follow a morally correct path which involves a fair conduct with all stakeholders in the organization, may involve paying employees fair wages and can include being environmentally friendly (M.Sally, 2016).
Philanthropic responsibilities Philanthropic responsibilities involves been a good corporate citizen, supporting the community and making corporate contribution which the society and stakeholders can benefit from (Howard Davery, …show more content…
A.A. Berle and Prof. C.G. Means at Harvard University, USA, blamed the organisation lack of irresponsibility shown by the organizations. They believe if the company contributed to the society and had ethical standards in place than the great depression could have had a less impact. In the 1960`s and 70`s CSR started to spread throughout the world where organization started to introduce Triple bottom line business model. Triple bottom line reporting is defined as an accounting framework which has 3 main aspects to it, Social, environment and financial. Organization adapted triple bottom line reporting to evaluate their performance in a broader perspective to create great business value (IBR Indian business review, 2008). In the 1960`s organization for Economic Corporation and Development convention was developed to advocate the policies that aimed at achieving sustainable economic growth and employment and elevate the living standards in the member nation while maintaining financial stability at the same time (Myassignmenthelp, 2014). In 1980`s and 90`s international Union for Conversation of Nature published a word conservation strategy. The strategy was development to improve the overall economy and recover from the great depression and create a stable economy. It will contribute to increase the world growth and perish world equalities and work on the worst impacts of poverty. Therefore the