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Corporate Social Responsibility in Australian Mining Industries - Term Paper Example

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This paper discusses various criticisms and discusses those criticisms pointed out by the people of Australia with their justification. The paper analyzes global standards of corporate social responsibility which has been set a guideline for mining industries to prevent environmental destruction…
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Corporate Social Responsibility in Australian Mining Industries
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Download file to see previous pages The responsibility of an organization for its activities that it has performed and decisions that have been taken which has an impact on society and its surroundings. Social Corporate Responsibility ensures that the company must undertake sustainable development and should have cared for the health and welfare of society. It makes sure that the company should abide by the applicable law and should adhere to international norms and behavior (Australian Government 2012).

The aim to create global standards is to minimize the impact of an organization’s decisions and activities on society and the environment. It is the commitment of the industry to manage the health and safety of its workers while pertaining to care for environmental and economic issues and to publicly report the progress of the industry. It also focuses on delivering the shareholder's value and to cover the expectation of their shareholders. These norms have been defined by the principal industry body known as the Minerals Council of Australia (MCA) which is responsible to look into the matter of Mineral industries and monitor their operations. However, if industries do not adhere to the principles outlined by the global body then companies might pose a serious threat to the overall community (Australian Government 2012).

The reporting of CSR activities is a new approach amongst different companies because it addresses issues for society’s well-being. It can have an impact on the performance and the goodwill of the company which is a greater concern for its stakeholders. It outlines the priorities of the company and its stakeholders. It is considered to be an accountability practice for firms that are willing to improve their performance and profitability. In new ways, it is considered to be a marketing strategy to grab the attraction of the audience (Alfonso 2011). ...Download file to see next pages Read More
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