Business Strategy and Sustainability

Question: Discuss about the Business Strategy and Sustainability. Answer: Introduction The assignment will cover all the important aspect of the selected organization BHP. The ultimate point of the assignment is to cover all the critical areas, which includes an integral part of the company operations. The objective of the study is to conduct a CSR Report, which will conclude about the internal proceedings as well as about the corporate social responsibility of the organization (Reviews, 2013). The notion of the corporate social responsibility is one of the most crucial part as well as one of essential elements in every business operations. There are some standard rules and regulations, which a different organization follows towards maintaining a proper CSR in the business proceedings (Robinson, 2012). The idea of an internal audit is an independent, object assurance activity, which mainly designed towards adding value and improves an organizational operation. The process of monitoring the overall functioning of the organizational plans and procedures, which includes business structure, employee behaviors, and information system, is known as the idea of the internal audit (Weirich, Churyk, Pearson, 2012). With the help of organizing a proper auditing process, the organization will be very active towards maintaining all the business ethics in an efficient manner. Background of the company BHP Billiton is an Anglo-Australian mining company which, which mainly deals metals and petroleum, with its headquarters in Melbourne. Sustainability, integrity, and accountability are the key attributes of the enterprise. It is one of the largest producers of the majority commodities including iron ore, metallurgical coal, copper, and uranium. It is one of the oldest mining companies in the world and Australia (BHP Billiton, 2016). The company is always in a learning process and makes a proper advancement with the modern technology. The long-term nature of the company is to develop a sustainable as well as a good relationship with the host commodities where the organization BHP Billiton work to make a positive contribution both the business as well as in the society (BHP Billiton, 2016). The objective of the assignment is to cover all the important aspects, which will focus on what are the different kinds of factors, which this particular organization has done in the process of deve loping a proper corporate social responsibility. The business strategy of the organization based towards on operating assets, which will focus on commodity, geography, and market (Coombs Holladay, 2012). To achieve these three factors, the overall objective of the organization is to maintain a proper flow of work, which will simultaneously look for the diversity of the work and the organizational prospect (Gond Moon, 2012). Analysis of the study The purpose of the study is to highlight what are the different kinds of measures, which this particular organization has developed to build a proper corporate social responsibility. The notion of the corporate social responsibility will highlight the operations of the business in an appropriate manner, which will focus towards followings different ethics (Gonzalez-Perez Leonard, 2013). There are certain dimensions of corporate social responsibility. Some of the critical aspects, which this organization follows in the overall business operations, are highlighted in the following part of the study (Abramowicz, 2013). Ecological concerns, human rights, market relations, sustainability and corporate domination are some of the key dimensions of the corporate social responsibility. However, there are some advantages, which needs to emphasis in the overall process of maintaining a proper CSR model in the organization (AhÃÅ'Â £mad Crowther, 2013). Some of the main advantages of the corp orate social responsibility include employee loyalty and employee retention. It also helped the organization to increase reputation and brand image in the business operations. It acts as a mode of advertisement and promotion, which different groups develops irrespective of nature as well as the objective of the business proceedings (Haynes, Murray, Dillard, 2012). The strategy of the organization is to own as well as operate large, long-life, an expandable commodity in the market. The plans for the organization remained unchanged in the overall business operations. The overall concept of the CSR relates primarily towards achieving the outcome from the managerial decisions for concerning different kinds of specific problems as well as different kinds of specific issues (Amaeshi, Nnodim, Osuji, 2013). The impact of a companys action for the betterment of the society is very much crucial for the business. The study will cover all the important aspect of how this particular organization contributes as well as develops the overall CSR model in the business process (Haynes, Murray, Dillard, 2013). Previously, in the corporate world, the financial bottom line and the shareholder's return on investment have been the main drivers for the company towards measuring accomplishment (Boubaker Nguyen, 2012). The organization in the study maintains a high aspect in the overall decision-making policy for the society. This part of the study will cover the different advantages as well as aspects, which BHB Billiton is benefited while applying a high CSR model. Keeping social responsibility in front of the mind encourages the business to get morally and to consider the social and environmental impact of the firm (Coombs Holladay, 2012). In different cases, the organization will find ways towards changing the service or value chain, which will deliver benefits for the community. Scope of Engagement of CSR This part of the study will complete an overall audit process, which will conclude how BHP Billiton performs in the corporate social responsibility. There are six steps, which will complete an efficient as well as continuous audit process, which will concentrate on the key areas of the corporate social responsibility of the organization (Idowu, Capaldi, Zu, Das Gupta, 2013). Establishing priority areas and determining the process frequency are the major step, which different managers need to take into consideration before making the switch into a continuous auditing process. There are different kinds of organizational areas, which different auditors irrespective of the nature of the nature of the business integrate (Gattiker, 2013). By analyzing all the important factors, the activity of choosing the organizational is one of the key objectives of the auditors (Millichamp Taylor, 2012). The auditor is very much concerned about what are the key areas that the company focuses on while contributing towards the betterment of the society. The account has decided to implement six continuous processes towards determining the contribution of the CSR in the overall business model. The first step is to analyze the key priority areas, which are required by the organization to focus on the significant aspects of the corporate social responsibility. Then the auditor needs to identify proper monitoring and continuous audit rules. Determining the process of the review standards and the process of frequency is another significant which majority of the auditors performs in the overall auditing process (Gond Moon, 2012). There are different kinds of auditing parameters which different auditors irrespective of the nature of the performance adopts in the overall auditing process. The most crucial part of the verification process is to develop a proper following up process. With the help of the appropriate monitoring process, the auditor in the overall business process will be able to match the actual performance of the organization with the planned performance (Gonzalez-Perez Leonard, 2013). Communication the results will incorporate the both the positive impact as well as the negative consequences of the proceedings of the business. Results might be positive or negative. Positive results will boost the morale of the employees, and the managers need to perform as overall analyze the negative results in the overall organizational procedures (Haynes, Murray, Dillard, 2012). Analyzing the current Understanding of Corporate Social Responsibility As discussed in the previous section of the study, establishing the priority areas of the auditing plans and procedures is one of the key accountability of the auditing plans and procedures. The business process, which is identified in the operations, is the application of the CSR (Haynes, Murray, Dillard, 2013). Understanding the availability of the continuous audit process will bring different kinds of benefits in the proceedings. Different organization irrespective of the nature of the business follows different rules and regulations towards completing the notion of Corporate Social Responsibilities. Presently, it has become one of the compulsory in the firm towards contributing a part of the profit for the betterment of the society. BHPs Commitment to corporate social responsibility Based on the ministry of corporate affairs there are certain rules and regulations which majority of the companies in Australia follows in the operations of the business are highlighted in the following part of the analysis procedure (Idowu, Capaldi, Zu, Das Gupta, 2013). The organization follows all the rules and regulations developed by the governance body in an efficient manner. The following are the key areas, which this particular group in the study BHP Billiton focuses on while performing Corporate Social Responsibility. The company focuses on eradicating hunger, poverty, promoting preventive health care and making available for safe drinking water. Improving education in the economic background section of the country is one of the basic aims. It includes individual education and service enhancing vocation skills mainly among the children and in livelihood improvement projects. The application of the CSR is not restricted only towards benefiting students. The company also spends many funds towards developing old age homes and additional facilities to the senior citizens of the country. The company has done a brilliant job towards ensuring ecological sustainability, an biological balance that includes safety of flora and fauna, animal benefit, protection of natural resources and maintaining the excellence of soil, air, and water. Every country based on the demographical backgrounds has some cultural aspects. BHP Billiton enables the overall protection of the natural heritage of the country, which includes restoration of buildings, and sites historical importances are some of the key areas. Development of different kinds of traditional arts and handicrafts is another additional feature, which this particular organization focuses in the process of developing a proper as well as an active CSR. The company also believes towards promoting different kinds of sports events. Considering the increasingly vast as well as complex business environment, the move of different enterprises in the process of contributing to the betterment of the society is remarkable. The Australian ministry of corporate affairs developed certain rules and regulations to incorporate a proper CSR Models (Weirich, Churyk, Pearson, 2012). Recommendations for CSR for BHP Billiton Achieving increased level of cooperation between the different departs of the organization and regarding CSR that relates towards achieving CSR aims and objectives. The company needs to focus on the in the strategic use of the social investment budget. On the other hand, introducing the CSR aspect of the business in the initial stage of the project will integrate into the long-term aims and objectives of the organization. However, the most important points which BHP firmly believes in the process of development of long-term goals and objectives. Specifying the aims and objectives of the stakeholders includes the identification and engagement as a continuous process. Ensuring the existence of the CSR skill in all the employees of the organization is another key factor that needs to be incorporated in the overall proceedings of the CSR policies. Implementing an effective audit in the review system towards improving the quality of the CSR is another point, which the management of the or ganization needs to incorporate in the proceedings towards developing a proper CSR program in the analysis of BHP Billiton These are some of the important points, which the company needs to focus on the overall development and implementation of a proper CSR Model. The organization has done a brilliant job while developing an appropriate CSR Model in the business proceedings. With the application of the CSR model all, the operations of the organization are performed in an efficient manner by following all the relevant ethics developed by the corporate regulatory. Theoretical concepts of Corporate Social Responsibility There are certain theories and concepts of CSR which different organization irrespective of the nature of the business adopts in the overall business operations. With the application of the various kinds of CSR theories and models, the different organizations including BHP Billiton are benefited in particular ways, which includes following steps. Increasing in customer retention, winning new business, enhanced relationship with the stakeholders, funding opportunities, differentiating from the other companies are some of the key objectives of implementing proper CSR proceedings. Carroll Model Carroll model is one of the basic models, which certain companies irrespective of the nature of the business adopt in the process of developing a proper CSR model (Aras Crowther, 2012). There are four important factors, which will conclude about the application of the Carroll model in the overall business policy. Philanthropic responsibility and economic responsibility are some of the key elements, which are included in this particular business model (Ionescu, 2010). The overall pyramid is developed in such a manner, which will focus on the important responsibility to the lower level responsibility (Lindgreen, 2012). Philanthropic accountability and ethical responsibility are the primary two criteria, which need to focus while performing a complete Carroll Model in the CSR policy. On the other hand, legal responsibility and economic responsibility are the other two factors that will constitute the Carroll Model of the CSR. BHP Billiton gives top importance while performing this part icular business model of CSR and was benefited in certain ways while applying all the steps in a proper manner (LoÃÅ'ˆber, 2012). CSR Management Cycle The company strongly believes towards developing a CSR Management Cycle. Several steps need to follow in the development process of an appropriate CSR Model. All the necessary steps are followed in an appropriate manner, which includes the policies and midterm control, dissemination to group companies, compilation and sharing of status, internal and external evolution, and future improvement of publishing results are some of the key factors which are included in the overall CSR Management Cycle (Millichamp Taylor, 2012). BHP Billiton focuses on all the major factors, which are required by the organization to complete the CSR Management cycle. Conclusion The concluding part of the study will summarize all the important factors which will focus on how the organization gets benefited and what are the different models used by BHP Billiton to develop CSR in the business operations. The assignment is classified into several segments, which concludes the overall effectiveness of CSR in the business process and activities. With the help of organizing a proper audit process, the assignment completes what are the different kinds of factors, which BHP Billiton performs in the overall business process of CSR. Different significant theories, which this particular organization follows in the development process of a proper CSR Model, are highlighted in the overall study. The scope of engagement, current understanding of CSR and recommendation of appropriate steps towards the improvement of the CSR policy of the company are some specific areas, which the organization needs to focus on. The overall internal audit process was very much satisfied and the auditor has performed a remarkable job by highlighting the effectiveness of CSR. Reference List Abramowicz, W. (2013).Business information systems. Berlin: Springer. AhÃÅ'Â £mad, J. Crowther, D. (2013).Education and corporate social responsibility. Bingley, U.K.: Emerald. Amaeshi, K., Nnodim, P., Osuji, O. 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