Executive Summary This report investigates our corporate motivations for the voluntary reporting of MacMillan printing company’s social and environmental reporting. Also it indicates as to why we need to do social and environmental report? The greater recognition and benefits we can achieve through our report against our competitors. Our report is the forum for efficiently sharing, both, internally and externally the success of MacMillan, as well as MacMillan’s understandings of the environment, through social and environmental reporting. Also the form our report should take to do this report for our relevant users. Introduction For the past three decades matters pertaining to the organization and its interaction with its physical environment, have been widely accepted. Any business in its operations affects its immediate physical environment both directly and indirectly. It is, therefore, important for a business organizational to assess the degree with which it affects its environment and subsequently stands accountable, not only for economic benefits, but also for the future well being of the society (Henderson et al., 2006). There is concrete evidence to believe that success in business is derived, in part at least, from the society and the natural environment. Business, the society and nature maintain a symbiotic relationship that guarantees mutual benefits for all the parties. A business acquires factors of production and market for its final goods from the society and the natural environment. Contextually, our company acquires its raw materials (tree) directly from the environment. This has a direct impact to the society and the environment in terms of deforestation and the subsequent consequences of deforestation to the ... ... middle of paper ... ...nvironment. It gives the different users like, shareholders, government and environmental protectors information regarding our activities and our scope. We believe we should do a social and environmental report as it is very beneficial for the company in the long run. As, our main objective should not just be procuring permanent customers but a healthy community to operate in. the step by step form of our report will help us achieve it so. References Adams, C. A., Owen, D., & Gray, R. (2003). Accounting and accountability: Changes and challenges in corporate social and environmental reporting. Henderson, S., Peirson, G., & Herbohn, K. F. (2006). Issues in financial accounting. Pearson Prentice-Hall. Adams, C. A. (2004). The ethical, social and environmental reporting-performance portrayal gap. Accounting, Auditing & Accountability Journal,17(5), 731-757.
Reimers, Jane L. (2003). Financial Accounting A Business Process Application. Upper Saddle River, New Jersey, Prentice Hall.
With forward movement in society, it is important to consider not just what will propel most toward success, but also what will help to sustain the environment along the way. What may have been considered appropriate decades ago, may no longer be socially acceptable due to the changes observed in both the business world and the environment (Fiske, 2010). Therefore, it is important for organizations thriving in today?s economy to consider how they may capitalize most effectively from their product or service of choice while minimizing or eliminating any damages along the way (Knoke, 2012).
The problem with pollution prevention is that it requires people to understand more than the intimate details of the production process; they must also understand the technical possibilities. Many corporations have environmental managers, which are generally responsible for helping corporations comply with the law. According to the case study, the work of environmental managers often expose them to many pollution prevention solutions, but they often have trouble getting access to production areas. Production often sees Environmental Managers as "the compliance police".
This letter of advice provides the evaluation of both the strengths and weakness of the sustainability and CSR reporting of Tabcorp Holdings Limited (Tabcorp). And triple bottom line reporting is the main criteria of evaluation. The reporting of Tabcorp is analysed in economic, social and environmental performance according to the Annual Report 2016 of Tabcorp. The study finds the company has good reporting in economic and social performance but has bad reporting in environmental performance of the company.
Gibson, C. H. (2011). Financial reporting & analysis: Using financial accounting information. (12th ed.). Mason, OH: South-Western Cengage Learning.
The next part of Audit process is to understand the business environmental aspects of the company. As part of the marketing audit project the author is going to analyze and provide detailed information on the following key environmental aspects
PwC also offers services on sustainability reporting. They will asses any existing process/ procedures and reporting mechanisms of an organization, then give guidance in achieving more effective reporting on internal and external sustainability issues. They believe that effective reporting to stakeholder is crucial. Reports are created to show environmental, social, ethical and economic performances of the organization. PwC also provides a service of independent assurance on the quality of these reports.
Sethi, S 1979, A Conceptual Framework for Environmental Analysis of Social Issues and Evaluation of Business Response Patterns, Academy of Management Review, vol. 4, no. 1, pp. 63-74.
Bowie, Norman, 1991, ‘New directions in corporate social responsibility – moral pluralism and reciprocity’, Business Horizonz, July-August.
Schroeder, Richard G., Myrtle Clark, and Jack M. Cathey. Financial Accounting Theory and Analysis: Text and Cases. 10th ed. Hoboken, NJ: John Wiley & Sons, 2009. 97. Print.
The United States government has generally had a hands off approach regarding business environmental corporate ethics. Up until the year 1970, the government rarely accounted for the amount of pollution and the effect it had on the American population. This year, 1970, the movement enacted the largest Environmental Protection Agency otherwise known as EPA. The Environmental Protection Agency has several branches across the United States to help enforce and institute laws and regulations, regarding the government (EPA). The reason “EPA” was established was to police these code infract...
It has been shown that there are many different areas in which a company may choose to focus its corporate social responsibility. The top area of focus in corporate social responsibility is on environment. Other areas that should be considered in the development of corporate social responsibility programs are education, health, nutrition and employment. “Social responsibility investment combines investors’ financial goals with their obligation and dedication to factors that ensure the well being of society such as environmental friendly practices, economic growth and justice in society” (Anderson 9). These elements not only epic corporate social responsibility, but also represent ethical standards of a company. It is unethical for some individuals to own so much and earn so much, at the expense of other suffering members of society. It is also unethical for companies to damage environmentally that result in illnesses and loss of life. It can be concluded that Social corporate responsibility and the maintenance of high ethical standards is not an option but an obligation for all
Non-financial costs come from increased pressure to meet goals or criticism from stakeholders. Also, commitments to stakeholders (such as investors, employees) and environmental protection should not be viewed simply as costs (Kolk, 2004). Instead, they help insure survival in the long run. In practice, most medium and small size companies still chose not to produce the sustainability or CSR reports because there was no mandated regulation and they needed to hire new staff or train current accounting staff to learn and understand the preparation procedures. They think these additional costs may not outweigh the future benefits in short
Now-a-days it is considered that CSR is one of the major concerns of organization’s business ethics. Companies increasingly increase their corporate social responsibility (CSR) and ethical management accepting the positive impact on the bottom line. The vast bulk of Standard & Poor’s 500 companies publish sustainability reports unfolding their program challenges and achievements. These pre-emptive efforts can pr...