Environment issues in business subject Essay Example | Topics and Well Written Essays - 2000 words

Environment issues in business subject - Essay Example The responsibility of an organization for its activities that it has performed and decisions that has been taken which has an impact on society and its surroundings. The Social Corporate Responsibility ensures that the company must undertake sustainable development and should have care for the health and welfare of the society. It makes sure that the company should abide the applicable law and should adhere to the 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 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 in delivering the shareholders 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 in to 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 serious threat to the overall community (Australian Government 2012). The reporting of CSR activities is the new approach amongst different companies because it addresses issues for the 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 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 attraction of audience (Alfonso 2011). There are numerous social and environmental factors that results in the criticism of the