...SUSTAINABILITY AT TELSTRA Bigger Picture 2014 Sustainability Report Sustainability at Telstra Contents CONTENTS About us Chairman and CEO message Sustainability scorecard Sustainability highlights Our approach Strategy infographic 03 04 05 06 07 08 Stakeholder engagement Key issues 09 10 11 Click on page links Transparency and accountability Bigger Picture 2014 Sustainability Report 2 Sustainability at Telstra About us ABOUT US Our business Telstra is Australia’s leading telecommunications and information services company, offering a full range of communications services and competing in all telecommunications markets. We employ close to 32,000 people directly, facilitate access to more than 1,900 points of presence across the globe and have one of Australia’s largest shareholder bases, with 1.4 million shareholders. We have a diverse range of customers, including consumers, small business, large enterprises and government organisations, and we strive to put them at the centre of everything we do. In Australia, our services are offered through 362 Telstrabranded retail stores, 90 Telstra Business Centres, 127 Telstra business and enterprise partners and are distributed by over 15,000 retail points of presence managed by our partners. In Australia we provide 16 million mobile services, 7.5 million fixed voice services and 3.7 million fixed data services. Telstra’s international businesses...
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...Implementing a Sustainability Balanced Scorecard „Dashboard‟ Approach to Assess Organisational Legitimacy. Kevin Huang, University of Wollongong, Wollongong, New South Wale Matthew Pepper, University of Wollongong, Wollongong, New South Wale Graham Bowrey, University of Wollongong, Wollongong, New South Wales gbowrey@uow.edu.au Abstract Purpose: The purpose of this paper is to identify and determine the contributing factors which influence the contents of a firm‟s sustainability reporting through combined social and environmental accounting and management perspectives. Design/methodology/approach: This paper analyzes the disclosed sustainability indicators of a major Australian financial institution, Westpac, through the application of the research method content analysis. The theoretical framework will be shaped by the consideration of legitimacy theory and the Balanced Scorecard approach. Findings: The results indicate that the four perspectives of a traditional Balanced Scorecard are related to the main sources of influential inputs to Westpac‟s sustainability reporting – existing frameworks, stakeholder engagement mechanism, employee involvement and traditional shareholders‟ financial information needs. It also reinforced the argument that the focus of organisational legitimacy is a key resource of organisation survival. Originality/value: This research contributes to the literature on social and environmental disclosures including the research of Do, Tilt and Tilling...
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...global challenges that industries are facing and more companies are pressured to embrace sustainability as business conditions change. However, only recently corporations started integrating sustainability as the part of their business strategy as they came to recognize that it is an essential part in growing and establishing themselves as the leader in the competing environment. A well-executed sustainability strategy can enhance the company’s value and reinforce competitive advantage in the market while protecting the capital base. The balance of power has shifted between corporations and it is important to balance economic prosperity along with environmental and social dimensions. Sustainable business strategy represents a marked shift in traditional business practices and companies who do not adapt to the changes in these practices in order to achieve sustainable profitability will be more likely to face the brand value decline or even extinction in the future. For instance, the change represents the need to understand how all three dimensions affect each other and companies ought to consciously create new consumer preferences. However, a lot of companies still are missing guidelines to implementing a marketing strategy of sustainability as an essential part, which is at the core of ensuring organizational, social, economic and environment growth while managing overconsumption issues (White, 2011). Current researches tend to focus on developing a more sustainable approach...
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...The Co-operative Group Sustainability Report 2010 Executive summary 11 Social responsibility Ecological sustainability Delivering value Assurance SuSTainabiliTy manaGEmEnT background Sustainability management and reporting is aligned with the three principles of the AA1000 AccountAbility Principles Standard (2008) 1 : materiality, inclusivity and responsiveness. Members are firmly embedded in governance (both in general, and in sustainability governance specifically) and policy formulation (pages 13 and 14). As such, whilst engagement with wider stakeholders is central, there is an additional focus on how democratic structures are used to ensure that strategies, policies and performance respond to stakeholder concerns. This level of responsiveness is almost certainly unique among large businesses in the UK. materiality and strategy In 2010, following consultation with different stakeholders, the Group Board agreed a new vision: ‘to build a better society by excelling at everything we do’. In pursuit of this, six aims are identified: to be a commercially successful business; to meet the needs of the customers and communities served; to respond to members and to share profits; to be an ethical leader; to be an exemplary employer; and to inspire others through co-operation. The key performance indicators underpinning strategy, together with progress, are presented within the Annual Report and Accounts 2 . The Sustainable Development...
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...Business and Sustainability Write an essay on the following topic: Based on your personal definition of sustainability, how committed are organisations to sustainability practices? What changes in corporate strategy and policy are necessary in the journey to sustainable business? Illustrate your answer with examples. Introduction Conducting business in the global economy, enterprises are under more communities’ scrutiny on their operations (Dey & Sircar, 2012). Moreover, sustainability is considered as the focal point of enterprises in creating shareholder value, performing management practices (Epstein, 2008), instrumental to survival in an increased competitive environment (Eweje, 2011), and achieving competitive advantages (Galbreath, 2011). As a result, this issue draws much attention from a broad base of stakeholders, comprising of customers, communities, employees, governments, and shareholders (Hess & Warren, 2008; Eweje, 2011). However, how to employ sustainability has remained a challenge for business leaders (Epstein & Buhovac, 2010). Accordingly, sustainability is commonly executed “more coincidentally than with a clear strategy” (Baumgartner & Ebner, 2010, p. 77). To obtain a deeper understanding of the topic, this essay begins with exploring the definition of sustainability. Followed by which is the investigation of how committed organisations are. Thereafter, the way to incorporate sustainability in companies is examined. Finally...
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...Task 13: Sustainability and the potential impact of related issues on the company’s innovation, production and / or logistics functions You should analyse the sustainability based opportunities that might develop for a newly internationalised company, like Elecdyne over the next 10 years and evaluate the potential impact of these on the company’s innovation, production and / or logistics functions. 1) Sustainability based opportunities for Elecdyne over the 10 years 2) Potential impact on innovation, production and/or logistics functions 3) Identify the economic, social and/or environmental aspects of sustainability Task 15: Using the relevant framework (e.g. identify the economic, social and / or environmental aspects of the issues chosen), what objectives / strategies an internationalised company might therefore set, and how it would measure success in meeting these objectives / of these strategies. You should critically discuss the problems that international companies may face, when they have multiple objectives (considering economic, social and / or environmental aspects) and the use of the balanced scorecard approach for making strategic decisions. 1) What objectives/strategies can be set 2) How it would measure success in meeting these objectives/strategies Introduction Introduction of the company+ introducing sustainability and why is important, why we chose it. (10 lines) The Japanese company Elecdyne produces a range of electronic...
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...factors for companies to publish sustainability reports 2 3. Key features of effective sustainability reports 3 3.1 General standard disclosures 3 3.2 Specific standard disclosures 3 3.3 Sector specific disclosures 4 4. The evaluation of Westpac’s sustainability report 4 4.1 General standard disclosures 4 4.2 Specific standard disclosures 5 4.3 Sector specific disclosures 5 5. Conclusion 5 6. Reference 6 Executive Summary This article is going to explain the reason for companies to present their sustainability behaviors and highlight the key feature of an effective sustainability report. Sustainability reports refer to disclose companies’ social and environmental performance. It is essential for the financial service industry to convey their sustainability profile and integrate this to their financial report. This article also makes an evaluation about Westpac’s sustainability report. Westpac’s sustainable reporting has used the table and bar chart to illustrate their sustainability performance accurate and transparent. Therefore, this report has a good quality. 1. Introduction Since the environmental and social problems have become the focus...
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...INTRODUCTION Among all stakeholders, recognition is focusing increasingly on the need for sustainable corporate practices, given pressing economic, social, and environmental problems on a global scale. By conducting business in ways that promote ecological health and human welfare, corporations increase value over the long term for consumers, shareholders and others for both current and future generations. Business students need to be familiar with, and committed to, principles and practices of corporate sustainability. This short essay outlines several sources in the literature on corporate sustainability provided by the following organizations: International Organization for Standardization (ISO); Price Waterhouse Coopers (PWC); Federal Reserve Bank of St. Louis; International Federation of Accountants (IFAC); Ernst & Young; and Association of Certified Public Accountants (AICPA). An annotated bibliography follows the discussion, highlighting articles of interest in corporate sustainability literature. Finally, figures provided in an appendix illustrate key concepts from the discussion. ISO 26000:2010 International Organization for Standardization * Headquartered in Geneva, Switzerland. A global consortium of experts in multiple aspects of quality-related standardization representing industry, nonprofits, government, healthcare, and academia. * Formulated by technical committees, standards are released after extensive review and a minimum 75%...
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...Sustainability and System Change Wal-Mart’s Pioneering Strategy Frank Dixon (Published on CSRwire.com, April 18, 2006) On October 24th, 2005, Lee Scott, CEO of Wal-Mart, gave one of the most important business speeches ever. In it, he committed the largest company in the world to making zero waste, using 100% renewable energy and selling sustainable products. The implications are huge. These goals cannot be achieved without broad systemic changes in areas including supply chain, regulatory and consumer awareness. To achieve its goals, Wal-Mart is integrating system change efforts into its sustainability strategy. By doing so, it is pioneering what may be the first sustainability strategy that actually has the potential to achieve sustainability (sustainability relates to ensuring society survives and prospers over the long-term). This article discusses the need to better address systemic issues that essentially compel all firms to negatively impact society. It also describes why sustainability will be the competitive advantage strategy of the 21st century and how Wal-Mart is capitalizing on this opportunity. System-Watch All companies produce negative environmental and social impacts. As companies impact the closed Earth system, pushback from the system is inevitable. This pushback can take the form of activist campaigns. As the largest company in the world, Wal-Mart has high environmental and social impacts. Several activist efforts have arisen in response to...
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...1 1. Introduction 2. Definition of sustainability report 3. Motivation of sustainability report 3.1 External driver 3.2 Brand value 3.3 Governance 4. Key features 4.1 Materiality 4.2 Transparency 4.3 Assurance 5. Evaluation 5.1 Materiality 5.2 Transparency 5.3 Assurance 6. Conclusion 7.References Executive Summary Sustainability report aims to describe companies’ environmental, economic and social representation and connect with impact on the world around it. It is always written by professors or leaders who are working in international companies and published by professional and known organizations. The information is collected from internet and Lend Lease’s sustainability report. The Sustainability report affect widely, especially in economy and environment and also essential to people’s outlook. The cause of publishing sustainability report identify main factors motivating publish sustainability report such as external and internal drivers, governance, and investors. The key features of sustainability report are materiality, transparence and assure. Introduction Due to the population has a great increase, our resource expend in a high speed; however, a number of people want to have high quality lifestyle, our environment faces serious situation. These kinds of behaviors are negative for our environment, and the unsustainable vista has already became a significant issue in business. As a result of negative outlook, companies...
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...new framework for implementing corporate sustainability Key points: ▪ Sustainability performance is the effect of corporate activity on the social, environmental, and economic fabric of society. ▪ A balance between economic progress, social responsibility, and environmental protection, sometimes referred to as the triple bottom line, can lead to competitive advantage. ▪ The evaluation of social, economic, and environmental impacts of organizational actions is necessary to make effective operational and capital investment decisions that positively impact organizational objectives and satisfy the objectives of multiple stakeholders. ▪ The financial payoff of a proactive sustainability strategy can be substantial. ▪ To become a leader in sustainability, one needs to articulate what sustainability is, develop processes to promote sustainability throughout the corporation, measure performance on sustainability, and ultimately link this measurement to corporate financial performance. ▪ Corporate citizenship is an important driver for building trust, attracting and retaining employees, and obtaining a “license to operate” within a community. ▪ Corporate citizenship is much more than charitable donations and public relations—it’s the way the company integrates sustainability principles with everyday business operations and policies and then translates all of this into bottom-line results. ▪ For sustainability to be long lasting and useful, it must...
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...new framework for implementing corporate sustainability Key points: ▪ Sustainability performance is the effect of corporate activity on the social, environmental, and economic fabric of society. ▪ A balance between economic progress, social responsibility, and environmental protection, sometimes referred to as the triple bottom line, can lead to competitive advantage. ▪ The evaluation of social, economic, and environmental impacts of organizational actions is necessary to make effective operational and capital investment decisions that positively impact organizational objectives and satisfy the objectives of multiple stakeholders. ▪ The financial payoff of a proactive sustainability strategy can be substantial. ▪ To become a leader in sustainability, one needs to articulate what sustainability is, develop processes to promote sustainability throughout the corporation, measure performance on sustainability, and ultimately link this measurement to corporate financial performance. ▪ Corporate citizenship is an important driver for building trust, attracting and retaining employees, and obtaining a “license to operate” within a community. ▪ Corporate citizenship is much more than charitable donations and public relations—it’s the way the company integrates sustainability principles with everyday business operations and policies and then translates all of this into bottom-line results. ▪ For sustainability to be long lasting and useful, it must...
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...Enhancing Sustainability in Management Education: Initiatives and challenges Aasha Sharma Purpose: The Corporate has infused sustainability into its core strategy. The extant of initiatives to engage employees in Corporate Social Responsibility (CSR) and Sustainability issues reflects the value driven leadership and the benefits derived thereof from these engagements. Social linkages, community development projects and strategic CSR leading to inclusive growth have become the trend. This stresses the need of our future managers to be equally sensitive to the sustainability issues. The paper explores status and initiatives taken by select premier institutes to engage students in the area of sustainable development/Responsible business practices. It attempts to analyze pedagogies used by them to sensitize students to take up responsible business practices. Design/Methodology: The websites of select premiere Business schools is studied to collect information and analyze the thrust given to sustainability issues and the efforts taken to enhance sensibility amongst students. The parameters were focus area/centers of excellence/course module/part of curriculum/part of extra-curricular activity/objectives. Research Implication: Though a lot of activities are undertaken by business schools under CSR and contribution to social development, incorporating it as part of credit course and sensitizing business school students to sustainability is taken up by a select few institutions...
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...have led to the need for new sources of competitive advantages. It continues to result in new management and marketing concept. Social responsibilities of companies are amongst recent challenges and it has become the subject of increasing debate. Different opinions are there regarding companies which follow their individual business interest and believe that social responsibility has no real meaning for them. People also trust the progressive improvement of the behaviour of companies who are in favour of social interest. It also focuses on another broader direction as whether the social sensibility of companies to develop themselves under legal and social pressure, influenced by requirements of sustainable development, or companies are increasingly recognizing competitive advantage of respecting social interest in their business activities(Vagasi Maria,2014). The management literature suggests that sustainability requirements play an important role regarding business operations in the 21st century. It interprets social expectations in determining economic, environmental and social well-being, altogether. An increasing number of publications reveal that the...
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...The Consequences of Mandatory Corporate Sustainability Reporting Ioannis Ioannou London Business School George Serafeim Harvard Business School Abstract We examine the effect of mandatory sustainability reporting on several measures of socially responsible management practices. Using data for 58 countries, we show that after the adoption of mandatory sustainability reporting laws and regulations, the social responsibility of business leaders increases. We also document that both sustainable development and employee training become a higher priority for companies, and that corporate governance improves. Furthermore, we find that companies implement more ethical practices, reduce bribery and corruption, and that managerial credibility increases. These effects are larger for countries with stronger law enforcement and more widespread assurance of sustainability reports. We conclude with thoughts about mandatory sustainability and integrated reporting. Keywords: sustainability reporting, mandatory reporting, corporate social responsibility, integrated reporting Assistant Professor of Strategic and International Management, London Business School, Regent’s Park, NW1 4SA, London, United Kingdom. Email: iioannou@london.edu, Ph: +44 20 7000 8748, Fx: +44 20 7000 7001. Assistant Professor of Business Administration, Harvard Business School, Soldiers’ Field Road, Morgan Hall 381, 02163 Boston, MA, USA. Email:gserafeim@hbs.edu, Ph: +1 617 495 6548, Fx: +1 617 496 7387 (contact...
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