Hand in Page – Tutorial 2, Week 3

Your Name:


 


Student No.:


 


Tutor’s Name:


 


Tutorial Day & Time:


 


 


Complete answers to the following question and submit it to your tutor, in class, in Week 5. 


 


1. Consider the concept of peak oil and comment on the potential it has to affect the Australian economy. Briefly outline some strategies for dealing with this new threat from the perspective of a small business owner, in a small business of your choice.


Peak oil is a condition wherein the demand for oil outpaces its production. Peak


oil signifies the point in time which worldwide oil production is at its greatest.


After the peak is reached oil production declines. The significance of the peak is


for the first time. Worldwide supply will be unable to meet the growing demand


for oil. Australia and the world have operated in an environment of increasing


oil supply where we have always been able to meet oil demand growth created


by increases in population and technology. Reaching the peak in oil production


marks a new era where the world will be operating in an environment of


constant energy scarcity.


This condition will cause severe economic difficulties as the price of oil will


significantly increase. Oil dependent countries such as Australia will crumble


and countries will engage in resource wars in order to halt economic downturn.


peak oil can shatter the economy of an oil dependent country like Australia. The  


combination of declining oil production, increasingly more expensive oil


production, and increasing world-wide demand for oil will generate enormous


price increases in gasoline, diesel, heating oil, transportation, construction,


manufactured goods, food, and all products that use oil for their production and


transportation. Gasoline and diesel provide 95 per cent of the energy for


transportation, Rising inflation, high unemployment, and instability in financial


markets will persist and deepen over time. Economic, social, and political chaos


will result from the inability to address expanding problems. A small business


can deal with the threat of peek oil by supporting the national and local


governments policies and strategies to reduce oil consumption. The small


business can also explore oil alternatives and make sure that the business’ oil


consumption is reduced.


 



 

 


Hand in Page – Tutorial 1, Week 2

Your Name:


 


Student No.:


 


Tutor’s Name:


 


Tutorial Day & Time:


 


 


Complete answers to the following three questions and submit them to your tutor, in class, in Week 3. 


 


1.     Explain in your own words what you think ‘corporate sustainability’ means.


Corporate sustainability is the ability of an organization to grow and to increase


long-term shareholder value through the integration of economic environmental


and social factors into business strategies. Commitment to corporate


sustainability leads and organization to invest in product and service


innovations that focus on technologies and systems, which use economic,


natural and social resources in an efficient, effective and economic manner. An


organization that seeks corporate sustainability implements the highest


standards of corporate governance, including management quality and


responsibility, organizational capabilities and corporate culture. An organization


that values corporate sustainability meet the demands of shareholders for


sound financial returns, long-term economic growth, long-term productivity


increases, sharpened global competitiveness, superior intellectual capital and


reputation. The overall aim of corporate sustainability is to achieved growth and


success for the company while satisfying the different stakeholders.


 


 


 


 


2. Consider the organisation within which you work (or use QUT). Do you think it is ‘sustainable’? Briefly explain your analysis.


I believe that General Electric is sustainable because it is successful and


considered as one of the largest companies in the world. It is sustainable


because it recognizes that it has obligations to its stakeholders and


shareholders and at the same time to the society and the environment. The


company satisfies the demands of its stakeholders and it seeks to do so in a


manner that does not endanger the environment and the communities in which


it operates in. The company is also committed to fulfilling its social


responsibilities. It incorporates environmental issues in its strategies. I can say


that the company is sustainable because it is able to achieve growth and


financial success while at the same time satisfying environmental and


social demands. It also provides products and services that improves the


lives of its customers.


 


 


3. In the tutorial reading, Friedman argues that, “the social responsibility of business is to increase its profits”. Do you feel he is justified in saying this, why / why not?


 


I think that Friedman in justified in saying that the social responsibility


Of business is to increase its profits. The organization has different obligations


to society. Corporate social responsibility is an organization’s obligation to


engage in activities that protect and contribute to the welfare of society. One


of the most important social responsibility of an organization is to make a profit


in order to survive. The organization is obliged to its shareholders to maximize


earnings, and operate efficiency. This forms the foundation on which all else is


built. Before the organization fulfils its other social responsibility it has to


increase its profits first. The organization needs to earn because it needs


financial capabilities to fulfil its social responsibilities. An organization cannot


satisfy the expectations, demands, and needs of the stakeholders if it has no


financial means. The economic view of corporate social responsibility also looks


at the organization as an economic unit that has a fundamental obligation to the


society of which it is a part and has an obligation, other than to the


shareholders, to the consumer.


 


 



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