Wednesday, May 6, 2020
Practice of CSR components in Melbourne Water students - Free Samples
Question: Discuss about the Practice of CSR components in Melbourne Water students. Answer: Introduction This study deals with explaining the theory of Corporate Social Responsibility that is practiced at Melbourne water (Melbournewater.com.au 2017). Melbourne water is one of the Australian companies that are listed as Australias top business leaders in the Corporate Social Responsibility. The company supplies water from 9 major reservoirs with a total capability of 1773000 million liters, 64 service reservoirs and 1030 kilometers of water distribution mains. The company operates 46 drainage, water pumping stations as well as sewage (Christensen, Mackey and Whetten 2014). Melbourne Water manages with the water supply catchments as well as removes and treats most of the sewage and manages further rivers and creeks that are present in the major drainage systems. The Sustainability Report of Melbourne Water explains how the company meets social as well as environmental responsibilities. Melbourne Water engages in looking at incorporating course from the Global Reporting Initiative. Here, G RI is one of the globally focused not-for-profit organization that developed a treatment structure for the purpose of sustainability exposure (Zentes, Morschett and Schramm-Klein 2017). Corporate Social Responsibility and its practice in Melbourne Water Sustainability development is the development that aims at meeting the needs of present without compromising the skill of outlook generations for meeting their own needs (Takkar 2015). Melbourne water is committed towards protecting as well as conserving water resources of the company. They believe in protecting as well as improving the environment that includes biodiversity. The company ensures responsible risk management. Melbourne water believes in sharing of information as well as fostering collaborative working relationships. The company aims at maintaining continuing monetary feasibility and contributing towards checking the health of the community as a whole. Melbourne water demonstrates corporate social responsibility and ensures intergenerational fairness by taking into account instant as well as long-term implications in all decision-making activities (Melbournewater.com.au 2017). Therefore, Melbourne water believes in providing surroundings where human resources are optimi stic for achieving their full prospective. Melbourne Water believes in identifying as well as meeting customer expectations. In addition, the company believes in developing enduring partnerships with retail water business, customers as well as developers through open and transparent communication (Christensen, Mackey and Whetten 2014). Melbourne Water aims at building cooperation with all the levels of government as well as regulators. The company develops programs for supporting corporate social responsibility. Furthermore, Melbourne Water fosters the exchange of knowledge that working with the community. The company aims at developing joint dealings with the suppliers in order to gain support for sustainability main beliefs (Tai and Chuang 2014). Components of CSR Social Reporting In order to achieve vision of a sustainable water future, Melbourne water need to incorporate sustainability philosophy in everything that is performed or planned (Melbournewater.com.au 2017). The company had engaged in implementing Preferred Culture Program that aims at measuring organizational culture as well as working towards implementing a preferred culture for all. Melbourne water maintains strong relationship with the stakeholders and put an effort to raise consciousness within the local society about water cycle that depend on how profitably the company can incorporate sustainability philosophy in daily operations (Zentes, Morschett and Schramm-Klein 2017). Melbourne water implemented corporate targets in regard to flood mitigation works. Melbourne water aims at working with key stakeholders on strategy for identifying options as well as providing suggestion for the better efficiency of flood administration for reducing future losses and impact on the society as a whole (Suli man, Al-Khatib and Thomas 2016). Environmental Reporting Melbourne water is working hard to diminish the impact on the natural surroundings as well as consider the impact in all the preparation process (Melbournewater.com.au 2017). The ecosystem consists of extensive terrestrial as well as marine habitats that support more than 1860 species of native plants and 600 species of native birds and animals. From these, 296 flora species as well as 128 fauna species are considered as threatened. Melbourne Water aims at improving environmental outcomes from all aspects of business activities. To that, Melbourne Water engages in improving river health as well as the marine environment as a whole. The company should bring improvement in the biodiversity as well as preserving and promoting cultural heritage in the most appropriate way (Zentes, Morschett and Schramm-Klein 2017). Melbourne Water fosters water culture that encourages sustainable behavior as well as underpins workplace policies and practices at the same time. The company even encourages as well as recognizes innovation and ideas for sustainable improvements for future analysis purpose (Servaes and Tamayo 2013). Impacts of social reporting to community Key achievements It is noted that future search conference took place in order to discover how Melbourne water can work well with the stakeholders for managing as well as protecting waterways and bays (Pedersen 2015). Developed a Preferred Culture Program for creating as well as facilitate the preferred work place environment (Melbournewater.com.au 2017) More than 12500 people come from multicultural society that visit Eastern and Western treatment plants for specified year Disappointments Melbourne water received more than 130 complaints regarding aesthetic quality of water supply (Melbournewater.com.au 2017) Increase in the number of lost time injuries for given year (McWilliams 2014) Challenges Melbourne water faces challenges because they have to maintain as well as continue to get better dealings with other retail water companies (Zentes, Morschett and Schramm-Klein 2017). Melbourne water needs to attract and retain adequately skilled labor force for meeting the trade demands of the near future (Melbournewater.com.au 2017). Melbourne water should make sure that there is a society of internal teamwork as well as information sharing within the company (Zentes, Morschett and Schramm-Klein 2017) Melbourne water should develop a culture of sustainable behavior in and across the company Impact of environmental reporting to community Key achievements Melbourne water reached a conformity on ecological flows for the Yarra river after discussion with the key stakeholders that aims at delivering extra 20 billion liters of flow of Yarra river (Korschun, Bhattacharya. and Swain 2014). Melbourne water supported achievement of the draft of Central Region Sustainable Water Strategy as well as Water Supply Demand Strategy for Melbourne. Melbourne water had revised Waterways operating Charter by way of establishing blueprint for managing rivers as well as drainage for a period of three year water Plan. Melbourne water had met renewable energy as well as greenhouse emission reduction targets (Melbournewater.com.au 2017) Melbourne water had reduced odor as well as nitrogen loads that resulted in upgrading to the Western Treatment Plant Melbourne water received recreational water categorization that was very good for all the sites that was constantly monitored at Boags Rocks and treated effluent that is discharged from the Eastern Treatment Plant (Zentes, Morschett and Schramm-Klein 2017). Melbourne water had achieved 100% EPA Victoria operational license compliance at both Eastern as well as Western treatment plants (Melbournewater.com.au 2017) Melbourne water had successfully completed multi-agency project that involve Harper At Drain that was located at three important point sources in polluting the Yarra river (Zentes, Morschett and Schramm-Klein 2017) Disappointments There was accidental discharge of aluminum sulphate into Sugarloaf Creek from Sugarloaf reservoir as well as fluoride leak into Cardinia Creek from Cardinia Reservoir. To this, it is understood that both the leaks were fixed as well as creeks that need to be regularly monitored by Melbourne water (Hopkins 2016) The amount of litter that continues for finding its way into rivers as well as creeks (Zentes, Morschett and Schramm-Klein 2017) Melbourne water fails to meet biosolids reuse targets (Cheng, Ioannou and Serafeim 2014) Challenges Melbourne water need to compete the environmental development behavior at the Eastern Treatment plant for reducing the impact of marine environment (Melbournewater.com.au 2017) Melbourne water need to constantly find practicable options for recycling the treated effluent from Eastern as well as Western treatment plants for reducing impacts on the marine setting as well as making better use of valuable resources (Christensen, Mackey and Whetten 2014) Melbourne water should aim at sustainably reusing biosolids from both of the treatment plants (Zentes, Morschett and Schramm-Klein 2017) Melbourne water should effectively manage, maintain as well as enhance in the areas of natural assets and biodiversity (Melbournewater.com.au 2017). Conclusion At the end of the study, it is concluded that Melbourne Water is one of the leader in the Corporate Social Responsibility. The study discusses how the components of corporate social responsibility are practiced in Melbourne Water. The components explained are social reporting and environmental reporting that are mainly practiced at Melbourne Water. The study even evaluated how the components impact the local community as a whole. The outcome is that Corporate Social Responsibility of Melbourne Water impact society in a large sector. The company had engaged in conducting many community research programs that help managers at the time of undertaking decision-making process. Melbourne Water provides safe as well as pleasurable work setting that brings out the best in people. The company needs to retain as well as attract diverse, experienced, skilled and motivated workforce. Reference Cheng, B., Ioannou, I. and Serafeim, G., 2014. Corporate social responsibility and access to finance.Strategic Management Journal,35(1), pp.1-23. Christensen, L.J., Mackey, A. and Whetten, D., 2014. Taking responsibility for corporate social responsibility: The role of leaders in creating, implementing, sustaining, or avoiding socially responsible firm behaviors.The Academy of Management Perspectives,28(2), pp.164-178. Hopkins, M., 2016.The planetary bargain: corporate social responsibility comes of age. Springer. Korschun, D., Bhattacharya, C.B. and Swain, S.D., 2014. Corporate social responsibility, customer orientation, and the job performance of frontline employees.Journal of Marketing,78(3), pp.20-37. McWilliams, A., 2014.Economics of Corporate Social Responsibility. Edward Elgar Publishing. Melbournewater.com.au. 2017.Melbourne Water. [online] Available at: https://www.melbournewater.com.au [Accessed 16 Sep. 2017]. Pedersen, E.R.G. ed., 2015.Corporate social responsibility. Sage. Servaes, H. and Tamayo, A., 2013. The impact of corporate social responsibility on firm value: The role of customer awareness.Management Science,59(5), pp.1045-1061. Suliman, A.M., Al-Khatib, H.T. and Thomas, S.E., 2016. Corporate Social Responsibility.Corporate Social Performance: Reflecting on the Past and Investing in the Future, p.15. Tai, F.M. and Chuang, S.H., 2014. Corporate social responsibility.Ibusiness,6(03), p.117. Takkar, K., 2015. Corporate social responsibility.International Journal of Research in Economics and Social Sciences,5(8), pp.297-302. Zentes, J., Morschett, D. and Schramm-Klein, H., 2017. Corporate social responsibility. InStrategic Retail Management(pp. 207-226). Springer Fachmedien Wiesbaden.