The Stern Report of 2006 points out that 70% of the climate change in the world is caused by CO2 emissions which mainly come from fossil fuel burning. According to the Review, in order to stabilise the situation, there is the need to bring this emission down by 80%…
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The Stern report points out that it is necessary for the energy sector to cut down the use of fossil fuels by 60% to retain the atmospheric balance. So, in the energy sector, there is the threat of water pollution, air pollution, and depletion of fossil fuel that is non-replaceable (Stern Review final report, HM Treasury).
So, evidently, it is high time for businesses to look for alternative energy sources. Some other important environmental issues caused by businesses are the huge production of waste, water pollution, air pollution, and the loss of land and biodiversity. Probably because of this understanding, more and more consumers are going green. It is probably this realisation that made many companies to think about environmentally sustainable ways of operation. In other words, many companies presently think it is important to have an impressive range of environment protection measures as a part of their corporate social responsibility. A study by Hurst (2004) identified that a considerable proportion of leadership companies presently identify the value of taking care of environmental issues and the value of assessing their own performance on a regular basis.
Evidently, the first benefit associated with going green is the improvement in a company’s corporate reputation. It is seen that large high profile companies are effectively utilising an attractive CSR that helps the company enjoy a considerably greater reputation that it cannot normally achieve. A perfect example for this is the beauty and cosmetics giant The Body Shop (Values Report, 2009). The company, from its very inception, stood firm on certain ethical and environmental principles. For example, it is against animal testing, artificial ingredients, environmental degradation, and forced labour. The company claims itself to be carbon-free, and it advocates fair trade and fair price, along with the concept of community trade which ensures that the company procures its ingredients from marginalised producers (ibid). If someone thinks that all these cost the company a lot as this would make the company’s products expensive, the exact opposite is true. The company’s surveys show that 89% of its customers value the company’s ethical activities highly (ibid). Financial benefits According to USA Today reports, many companies have realised how to make money or save money through environmentally sustainable practices. For example, the Sun Microsystems saved hundreds of millions of dollars through the introduction of telecommuting (Sun’s open work energy measurement project, 2009). However, the industry that is benefiting the most from the green revolution is the hotel business. For example, the Holiday Inn on King in Toronto saved nearly $ 14,852 in a year by introducing low-flow
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The organizations utilize ethical processes in their management and strive to socially responsible in order to attain competitive advantage (Banal & Roth, 2000). Management involves striving to achieve organizational objectives in an effective and efficient manner through others in a dynamic global environment.
The environmental benefits of going green cannot be emphasized further, with most governments, institutions and individuals around the world practicing and encouraging strategies geared towards protecting the environment.
There has been many criticisms thrown left and right and ethics has been among the buzzwords that has gained strong prominence. As such, one leads to question the need for ethics to be revisited. Looking at the many scandals, it is easy to see a very important facet of management that has seemingly been neglected.
The Electric Light Company came up in the year 1878 under the guidance of Thomas Alva Edison. It was in the year 1892 that a merger between Thomson – Houston Electric Company and Edison General Electric Company lead the way to the birth of the Company. The company has been ranked as the 6th largest firm in the U.S.
The information and data offered by environmental accounts are resolved to be in association to the involvement of natural resources in economic progress, and costs incurred, as a result, of resource degradation or pollution. Over the years, there has been increasing significance of business ethics and ethical resolution making, due to demands placed on business administrators by creditors, stockholders and other stakeholders affected by operations and financial performance of these businesses (Farouk, Cherian & Jacob 2012, p.
Ethical products do good business with ethical packaging. Companies tend to follow ethics in packaging and have based their brand and mission on an ethical supply chain from the source to the consumer. Such a business approach includes business practices that are ethical and fair and are also harmless to the environment.
The relevant issue here is the integrity of the due diligence study that will be the in the prospectus of the client on their initial public offering in the Australian Stock Exchange.
One of the due diligence assurance objectives is an assessment of the internal control of the company for which the auditor prepares an audit program.
Oman Oil Company S.A.O.C. (OOC) has been selected in the study in order to investigate the impacts of the contemporary issues in management. It is a commercial petroleum producing company operated and owned by the Sultanate of Oman
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