Discussion Forum Assignment Help On Environmental Social Governance

Discussion Forum Assignment Help On Environmental Social Governance

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Discussion Forum Assignment Help On Environmental Social Governance

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Introduction ;

An in-depth discussion forum on the subject of environmental social governance was presented in the assignment.

The issue of business firms’ social and environmental performance has received a lot of attention lately.\

The purpose of the environmental social governance (ESG) reporting initiative is to monitor business firms’ activities and their effects on society and the environment.

The current work provides a comprehensive analysis and discussion of the subject at hand.

The company’s social responsibility is a legitimate issue that is gaining worldwide recognition.

In light of the law, ethical standards, and international norms, the concept of social responsibility has emerged.

In more specific terms, businesses acquire resources for business operations and activities, such as workforce, physical resources, infrastructure, fuel, and so on.

According to Kerr (1996), there is a relationship of mutual exchange between the business enterprise and society.

The society provides the business with input, which the business turns into finished goods and distributes to society.

This relationship of mutual exchange extends beyond the current input-output phenomenon.

This indicates that business firms receive inputs from society and produce output for society (olowu, 2007).

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However, the idea has expanded recently, and now businesses have a moral obligation to take actions and initiatives for the benefit of society and its welfare.

The business firm is not only concerned with transforming input into the final product and distributing it to society.

Instead, businesses are expected to initiate and carry out initiatives that improve society and individuals.
In this regard, some theoretical perspectives that symbolize the social responsibility of businesses are discussed.

Scholars and proponents of the idea of environmental social performance are highlighted by these theoretical perspectives. Carroll’s theory, Hall’s theory, and stakeholder theory are the three named theories.
Carroll’s theory This theory proposed a three-dimensional conceptual model for determining the various moral obligations that businesses have to society.

It is possible to comprehend that a business enterprise is expected to fulfill numerous obligations in accordance with high corporate performance.
(Source: Kimani, 2010) A business organization’s systematic fulfillment of the preceding obligations results in a favorable public image and reputation.

As a result, individuals in society choose the particular business as their first choice when purchasing goods and services, resulting in higher profits and returns.

According to the model, fulfilling economic obligations means providing society members with employment in a business and the opportunity to earn a living and lead sustainable lives (Kimani, 2010).
essay-writing-help Second, the company is expected to follow taxation and other framework-related legal guidelines.

The government receives a fair share of the profits as a result of the business operations that take place within the regulated boundaries, which also reduce the likelihood of legal action. Thirdly, a company must act in accordance with principles of fairness, openness, honesty, and integrity in order to fulfill an ethical set of business obligations.

Last but not least, according to Reinhardt & Stavins (2010), a discretionary set of obligations requires businesses to contribute a portion of their profits and earnings to a variety of social and philanthropic endeavors, including employment programs, poverty alleviation initiatives, environmental and natural species conservation, and others.
The Hall theory states that business activities should be driven by positive environmental and social impacts.

This theory is a refined and improved version of the one that was discussed earlier.

Since every action should have a positive impact on society and the environment, these two should be the primary focus of business operations.

According to Aguilera & Williams (2006), on this basis, the performance of the business is evaluated.

A business that is able to foster improvement in social and environmental conditions is regarded as powerful and influential, and vice versa.
The resource-based theory, which asserts that businesses obtain resources from society, has been outlined by supporters of this theory.

It is not permitted for the business to acquire these resources at no cost. Instead of acquiring resources, businesses are expected to contribute positively to society and the environment.
dissertation-help-by-students-assignment-help(2) Stakeholder theory states that every company has a moral responsibility to maximize the interests and well-being of its stakeholders. Employees, suppliers, the government, and even localities are all considered to be stakeholders in this broader sense.

According to Prakash & Potoski (2006), the business firm is under pressure to strike a balance between the competing claims of various stakeholders because all of these constituencies form an implicit contract with the business firm. Employees are concerned about profit margins, while investors are concerned about the growth rate, so the goals of the stakeholders are at odds.

In light of the stakeholder fiduciary principle and the legitimacy of the company, it is expected of the business to keep the conflicting interests in check.

This indicates that a company’s growth as well as the interests and benefits of stakeholders must be taken into consideration (Winchester, 2009).

Conclusions The aforementioned theories demonstrate that, in addition to providing a product or service, businesses are obligated to “give something back to the community.

” The business is obligated to safeguard society and the environment, and Roger Kerr’s position seems appropriate.

It is also possible to comprehend that ignoring or failing to comply with societal and environmental interests can also pose a threat to businesses.

According to nicolaescu (2012), consumers are demonstrating a higher level of understanding regarding business issues and aspects and are becoming increasingly aware of business practices.
Customers’ and other stakeholders’ growing awareness requires businesses to plan, organize, carry out, and control their operations in light of social and environmental concerns.

In extreme cases, it has also discovered that businesses run the risk of being prosecuted for not considering environmental and social concerns.

Various legal frameworks and regulations have been enacted in this context to require businesses to prioritize environmental and social good over financial returns and profits.

According to amokaye (2012), the adoption of ISO 14000, ISO 9000, and a plethora of other standards demonstrated the necessity and stringency with which businesses are currently confronted when it comes to environmental and social issues.