MBA402 Sustainability Assessment Report for Tramalway Industries Assessment 3 Answer
Sustainability is regarded as procedure and state which is used for maintaining specific level of sustainable development by applying in present without make any issues in future aspects (Anggiyani and Yanto, 2016). This is essential for enterprise to maintain level of sustainability to achieve positive results. Presented assignment is based on Tramalway industries that has came across different issues such as social, economic and environmental. For each sustainability level, there has been made disclosure to attain best results. This is essential for business to follow all compliance as well as adopt risk management approach for strengthening activities and operations of organisation.
A. Economic Sustainability
It is referred as practices that mainly concern about long term success and growth which does not create impact on any social, community, culture and environmental aspects (Doktoralina, Anggraini and Safira, 2018). This is known as growth practices which focus towards those people living below minimum standard at society and community. In case of Tramalway, it is essential to have economic development of business for better gains. The disclosure in terms of economic sustainability has made which are described below:
i) Disclosure 201-4
It is regarded as disclosure of financial help that has received from government. In case of Tramalway industries, it is essential for making reporting of different aspects which has provided by government as helps such as relief from taxes, subsidiaries, holidays on royalties, incentives, financial helps and many more. This discloses about all types of benefits as well as contribution that are made by government to business running at marketplace. Respective organisation has faced problems to get benefits in terms of economic. With the making of disclosure of 201-4, it is possible for business to gain some benefits as well as assistance from government. The management approach assist in reduction of risk for running operations in best way.
ii) Disclosure 203-1
It is the disclosure of investment made for infrastructure as well as supported service. This is important to make disclosure for all types of infrastructure investments. In order to make disclosure about reporting, it is essential to fulfil some criteria for doing development at services as well as infrastructure which is impacting all local communities, societies along with creating different activities, operations related with pro bono engagement. In order to get support from government, it is significant for Tramalway companies to make full disclosure about their investment made for infrastructure and get benefits in effective manner. It is possible for organisation to make proper disclosure of all important development to gain suitable outcomes. In case of performing any awful act regarding development of infrastructure then disclosure is required to be made for avoidance of future risk and conduct activities in best way. All aspect should be disclosed in advance for best outcomes.
iii) Disclosure 204-1
It is the disclosure of proportion that has spends on local suppliers (Ehnert and et. al., 2016). With the reporting of following disclosure, it is possible for organisation to get some benefits in terms of proportion basis with help of local suppliers. Tramalway industries have to make report about all information connected with percentage which should focus on invoices and commitments made during given period of time. With such disclosure, business can be run in sustainable manner. There are large numbers of suppliers which are interconnected with organisation. In this context, it is significant to make proper disclosures for preparation of report of sustainability in best way. While carrying out operation, it is obvious that business has to face risk and issues and should be managed through different tools and techniques in best way. In case of Tramalway Industries, it has supplier named as Golden Good Ltd for buying of materials which was found that using illegal activities in terms of child labour to perform work. Therefore, they have wind up relationship of business as well as contact with them to maintain sustainability. After that they have started using all local suppliers to procure budget.
B. Environmental Sustainability
It is referred as renewable resource rating in terms of creating pollution, harvest along with depleting all types of non renewable sources that is easy to identify as well as indefinite on regular basis (Gamage and Sciulli, 2017). In lack of identification, it is regarded as non-sustainable. This is the responsibility of business to carry out work in appropriate way without making any harm or create negative aspects such as construction on sustainable manner, using of biofuel and reduction of waste management. The disclosure in terms of environmental sustainability has made which are described below:
i) Disclosure 301-1
It is disclosure made for materials that are used through volume or weight. This disclosure is required to be made as per sustainability standard made by GRI (Herremans, Nazari and Mahmoudian, 2016). Tramalway Industries need to make proper report regarding disclosure of using both renewable and non-renewable in most effective manner. In this regard, it is essential for doing packing as well as producing all types of primary goods and service to make reports to gain best outcomes. Moreover, in case of above organisation, it is taking assistance from all fresh suppliers which focus on providing both renewable and recyclable resources. Here, all non renewable resources have total weight of 55 tonnes that has decline whereas renewable resources possess weight of 45 tonnes that has risen. On other hand, recycled materials possess weight by 25 tonnes. All correct information should be provided by business for getting all accurate sources of non renewable and renewable.
ii) Disclosure 301-2
It is the disclosure of recycled inputs materials which has been used by business. This consists of total volume or weight that uses all types of materials (Landrum and Ohsowski, 2018). There is use of formula where total material that is recycled should be used and divided by overall used of materials and multiplying by 100. Tramalway Industries has to maintain sustainability of environment where they have aggregate weight for renewable, non-renewable and recycle of materials in terms of 45, 55 and 25 tonnes respectively. With help of reduction of risk, it is possible to provide all correct data and information regarding volume or weight. Recycling should be done for all resources to gain best outcomes.
iii) Disclosure 306-3
It is the disclosure made for significant spills which is regarded as important reporting in terms of environment sustainability that focuses on aggregate number and volume of spills (Panjaitan, 2017). With this disclosure, it is possible to identify volume, location, types of materials used for it. Tramalway industries have to make disclosure regarding use of all types of spills along with making reporting of their weight, volume and location. With this disclosure, it is possible for above organisation to carry out all activities and operations in effective manner and gain best outcomes. Spill can be in terms of materials, fuel, wastes, chemicals and others.
C. Social Sustainability
It is defined as sustainability which is formed or occurred in two ways named as formal and informal process, systems, relationship and structure for supporting capacity in short and long term generation to create healthy, new, fresh, liveable societies, communities, environments and so on (Puspitandari and Septiani, 2017). This is essential for all types of business to make their living place to be sustainable in order to meet all need and demand of people. With these activities and operations, cost issues would not be arises and creates any problems. This is the responsibility of Tramalway organisation to manage as well as maintain sustainability in terms of social along with following all guidelines of GRI standards and reporting accordingly to gain best results. The disclosure in terms of social sustainability has made which are described below:
i) Disclosure 408-1
It is the disclosure of operations as well as suppliers which are made at important risks in terms of incident cause for child labours (Richardson and Kachler, 2017). This is essential for business to focus on providing all types of safety to children working in organisation as well as prohibition should be done regarding child labour. Tramalway Industries has made disclosure regarding child labour followed by their suppliers as it is risky for business to follow all such activities in organisation. This is essential to decline incidents that has caused due to child labour so in this context, it is important to follow safety and security. Golden Good supplier has followed child labour practices due to which above business has terminated contract with it.
ii) Disclosure 412-2
It is the disclosure made for training of employees which is regarded as human rights procedures or policies (Stacchezzini, Melloni and Lai, 2016). This is essential for business to provide training to working force to enhance their skills and knowledge. Tramalway Industries has to provide training to their all existing as well as new employees. In case of above organisation, they have made training in which they have already finished 100 hours to carryout operations and activities. On other hand, 35% of workforce have provided with training to follow human right principles to respect, follow gender equality and so on. With this social sustainability is created at business as well as organisation for maximum outcomes.
iii) Disclosure 417-3
It is the disclosure of incidents of non compliance which focus on communication of marketing (Wagner, 2017). As per standard of GRI, it is essential to follow as well as make disclosure of marketing communication for sustainability. According to investigation done by Australia Competitive and Consumer Commission, they perform communication of marketing. By conducting of research, it was found that if any organisation or business makes any misleading and issues any type of notice related with infringements then they are liable to pay penalty of $12,600. Tramalway Industries has to pay fine and updated their policies of marketing to make better decisions and disclosure (Wulanda, Hasan and Ilham, 2017). This has solved through dividing of risk into non compliance that mainly focus on communication of marketing. It is important to apply all suitable channels of business to make disclosure to people and audience in terms of operations as well as activities in proper way. With such disclosure it is possible to make communication marketing and attain high results to create awareness among people in terms of goods and services.
The report concluded that sustainability is very important for organisation to carry out activities and operations in proper way. With goal and objectives of sustainability, it is possible to carry out all types of work in organisation and accomplish set outcomes. This is important for business to make disclosure in terms of social, economic and environmental sustainability so that best outcomes are attained in provided time period. Organisation has made to follow sustainable practices to survive in market for longer period of time. With the adoption of approaches, it is easy to carry out risk and gain best results.