Letter to Executive of Local Network - Research Proposal Example

These two principles are: Undertaking initiatives that lead towards promotion of a high level of responsibility towards the environment. Encouragement of adopting, developing and diffusing technology that is friendly to the environment. This submission will review and present a selection of business practices and/or approaches from Chevron, as well as other companies in the similar industry, which may be applicable in the effort to achieve the compliance to both of the mentioned principles of the Global Compact.

Additionally, it will discuss lessons learnt from these approaches. It will, as well, develop business practice recommendations that will lead to an improvement in complying with the Global Compact principles. Finally it will provide discussions of the advantages, disadvantages and implications for key stakeholders, in case implementation of these recommendations is successful. Business practices and approaches that may be used Chevron is a multinational energy corporation that bases its principles on promoting high levels environmental responsibility.

At Chevron, we are committed to satisfying the world’s energy requirements while at the same time, taking appropriate measures to protect the environment. It is our belief that protecting the environment is the right thing to do especially in a world which needs a clean, healthy, and safe environment with regards to energy sources. As a consequence of this, we opted to make the task of reducing pollution and waste, conserving natural resources, and minimizing potentially negative environmental effects of our operations and tasks, our priority (Jakobeit 2008).

The first practices we incorporate to ensure compliance to the two principles of the Global Compact is protecting the environment by making sure we use safe, reliable, healthy, efficient, and environmental friendly processes. We also respect and conserve biodiversity because we know about the significance of the complexity of nature. In addition, we are keen on preserving fresh water resources because we are familiar with the importance of fresh water as a primary social, economic, and environmental resource.

Finally, we have invested in the production of alternative energy sources that have no environmental effects such as solar, bio-fuel, and wind, and other renewable energy ventures (Johnson 2101). Positive and negative lessons learnt from these business practice and approaches The practices we have in play have a crucial role in helping us comply with the two principles of the Global Compact. The use of safe, reliable, healthy, efficient, and environmental friendly processes in protecting the environment has significantly improved our ability to identify and establish conservation areas (Rashce and Kell 2010).

On the other hand, respecting biodiversity has helped us to protect habitats, by preventing the introduction of insidious mammal species and spread of weeds, as well as protecting endangered species. Preservation of fresh water resources has enabled us partner with local communities where we have plants for the benefit of those people as well as our business. In doing so, we developed a working strategy that ensures water resources have the first priority in our operations (Rashce and Kell 2010).

When it comes to the use of alternative energy sources, we have realized a significant reduction in cost of production meaning that it is cheap to use renewable and natural energy sources. Of all the positive lessons learn