Global Principle for Wesfarmers - Sinopec and Amazon- myassignmenthelp

Question: Write about the Global Principle for Wesfarmers, Sinopec and Amazon. Answer: Introduction There are a number of global principles that apply to the way businesses operate with the regard to the environment and society that surrounds them. In our paperwork, we shall be discussing only two principles including Principle 1 and 9 that quote that every business should support and respect the protection of the internationally proclaimed human rights and that they should also encourage the development and implementation of technologies that are environmentally friendly respectively. We shall be looking at a number of businesses including the likes of Samsung, Wesfarmers, Sinopec, and Amazon. For instance, the Amazon company, which a giant online shopping mall globally respects both the Global Principle 1 and 9 as it has partnered with indigenous as well as other environmental organizations that protect both the human rights and the environment.[1] Business practices in regards to the Global Principles 1 and 9 Different companies perform various or diverse actions in their day to day life in the name of running their systems. Looking at a company such as Samsung, it is limiting its actions in such a way that it does not go beyond the line of respecting both the environment and human rights[2]. In regards to principle 1, the company respects the human rights through fair labor practices, keen on safety and health of its workers, and engaging all stakeholders. The company, Samsung, also respects the principle 9 through a number of strategies such as eco-management, eco-design, chemical limitation, and the production of energy-efficient products. It also incorporates the use of sustainable materials and responsible recycling of its waste products.[3] Another company such as the Wesfarmers utilizes its actions towards the fulfillment of these two principles including the protection of the human rights and the environment too. In protecting the human rights, the company has fixed the rates of extractives, medical equipment, and agricultural products in the line that it does not manipulate diverse interests of different persons. This topic was the hottest one ever reported at its annual general meeting that took place on the 7th October 2017. The company also respects the other principle through the manufacture and implementation of the use of environmentally friendly agricultural products.[4] Lessons learned from the businesses approaches A number of lessons can be learned from the approaches taken by the above companies. The first lesson is that every business that is set up with an aim of making from must also be ready to conserve the environment as it is where the people live in. It should contribute to various beneficial activities such as recycling of its waste products, produce less polluting products, and participate in activities that help in the wellbeing of our mother earth. In addition, the companies must also not exploit its employees but rather serve them according to the globally implemented human rights. These actions can be done through the well [i]inclusion of the employees in their daily operations as well as caring for their health and working conditions. Innovative business practices recommendations Every business regardless of its industry must perform a number of activities that bring the best in them every day in the business face. These activities include the likes of using technology for the purpose of developing the business, including innovation as a leadership development competency, funding outdoes activities such as the environmental campaign programs, and recruiting people with creative talents. To add up, they should reward the employees who perform innovative work in their firms. There are other actions that businesses can take such as training people to be creative, develop an idea-finding program for its employees, including innovation in its leadership training programs, and create a review procedure for the newly developed programs.[5] Benefits, challenges, and risks for key stakeholders through the implementation of these recommendations There are a number of challenges that the stakeholders will face as new systems come with a change in the mode of daily operations. The employees, for example, will have to face the challenge of adapting to the new form of working after the recommendations have been put in place. However, these recommendations will have diverse benefits such as education to its members and increase in sales as clients will be happy with the new mode of operation. The risks that can be encountered include the likes of losing an employee who has been equipped with the new operating techniques. In addition, the recommendations may fail to work if the employees find them difficult to understand.[6] Bibliography 10 Practices from the Most Innovative Organizations." The Creativity Post. Last modified 2017. https://www.creativitypost.com/business/10_practices_from_the_most_innovative_organ izations. AMAZON WATCH About Us. Amazon Watch. Accessed October19,2017. Retrieved fromhttps://amazonwatch.org/about. Benchmark Report Examines Human Rights Performance of Australian Listed Companies Ahead of Annual General Meeting Season | Business Human Rights Resource Centre." Homepage | Business Human Rights Resource Centre. Accessed October19,2017. https://business-humanrights.org/en/benchmark-report-examines-human-rights performance-of-Australian-listed-companies-ahead-of-annual-general-meeting season#c163682. Environment | Corporate Citizenship | Samsung Electronics | About Us | Samsung | Samsung UK." Samsung Uk. Last modified 2017. https://www.samsung.com/uk/aboutsamsung/samsungelectronics/corporatecitizenship/env environment/. Pinson, Pierre, and Henrik Madsen. "Benefits and challenges of electrical demand response: A critical review."Renewable and Sustainable Energy Reviews39 (2014): 686-699. Witjes, Sjors, W. J. V. Vermeulen, and J. M. Cramer. "Understanding corporate sustainability integration into business activities: proposing a holistic, integrative and longitudinal framework." 2015.