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The objective of this report is to analyze how an organisation manage and apply corporate social responsibility and corporate sustainability in the business process. In this regard it is required to analyze several areas as:
- Evaluate the modern development within business management of Orredoo Oman.
- Provide the recommendation of alternative approaches to management in Orredoo Oman.
- Analyze international standards relating to sustainability, business ethics, value and norms within global business context.
Contemporary Management is collection of research paper. it includes organizing, leading, planning and controlling operations to achieve company goals. Corporate social responsibility is referred to social practices, economic and environmental criteria and actions.
In this report, Orredoo Oman manages their corporate sustainability and corporate social responsibility (Cherry and Jacob, 2016). It report will define the triple bottomline of sustainability and critical evaluation of social, environmental perspectives in relation to its stakeholder and concept of corporate social responsibility. It also includes the company’s CSR model with its relevant examples.
Triple bottom-line of sustainability:
Triple bottom line is concept of accounting which includes three parts such as environmental, social and financial; Orredo Oman is a telecommunication company which adopts mainly TBL framework. The main impact of bottom-line sustainability in Orredo Oman this determines sustainability of the organization and its functions. TBL focus on company financial, environmental and social responsibilities. TBL also measure company social responsibility and economic value and environmental impacts. mainly the TBL mostly focus on their sustainability and all the responsibility of the company (Colbert and et.al., 2015). In the telecommunication organization TBL help to understand customers social, economic and environmental impacts. It also helps to understand social corporate responsibilities of the company. There are three Ps of triple bootom line which helps to maintain sustainability of any organizations-
- People- In this Oreedo Oman follows the Tripal bootom line path of doing business, thin about the impact their actions, and also involve people like in organization they have they supplying their products and everything is in considerations. In other hand “people” bottom line can also include the community where the organizations doing business (Moutinho and Vargas-Sanchez, eds., 2018).
- Planet- In this Orredo Oman defines the bottom line of company take pains to reduce or eliminate the ecological footprint. This Ps also defines the profit in long term, but it not about the money bout the entire lief cycle of their actions and defines the true cost of the company.
- Profit- This bottom line define the Orredo Oman shared their financial bottom line whether company using or not. It's all about the looking profit from the company.
There three minor pillars of sustainability-
- The Environmental pillar- In this Orredo Oman mainly focus on their products like mobile and wife service and telecommunication service. Orredo mainly focus that customers are had to adopt their service and focus on their new development plan (Moutinho and Vargas-Sanchez, eds., 2018). For example supplying products and packaging etc.
- The social pillar- In this Orrredo Oman defines the social pillar understand the company social responsibilities to the stakeholders, employees and securing and maintaining supports.
- Economic pillar- In this Orredo Oman defines the economic responsibilities towards organizations. It also defines business feel they are on firm ground. Moreover, business must going to profitable and it’s also define the profit at any cost and its include compliance, risk management, proper governance etc.
Sustainability of organizations in term of economic, social and environmental and its relation to stakeholders
Sustainability is defined as the procedures which maintained certain rates or labels of organizations and make stability in the business. Property also defined as the development process which helps to understand the factors affects to the business and how to make stability on that. In organizations, the most three factors that affects most to the organizations. Those factors most impacts on Orredo Oman business like economic sustainability, social sustainability, environmental sustainability (Magistro and et.al , 2016). The main concept of sustainability is maintained the cost, employees, stakeholders and products of the organizations and their stability in the organizations.
- Environmental Sustainability- In this Orredo Oman understand their environmental define the environmental stability in organization like employees are maintained their good relations to others and company CEO also define the stability in the business. The corporate social also maintain the sustainability in the organizations.
- Social Sustainability-In this the Orredo understand the social factor effects on their organization to various platform like social media, advertisement etc. each of the source are make stability in corporate social world. The social sustainability define the social responsibilities to the organizations which impact goes to their social service mainly the company provide their customers to telecommunication service which in include supplying mobiles, wife service and other passport related policies.
- Economic Sustainability- In these factors Orredo Oman defines the factors that impacts their economic responsibilities like to supping products to the audience, maintain relationships. Economic performance is very important to organization stakeholders particularly. In economic sustainability includes customers, other corporate organizations and stakeholder which invest on business and make profit. They definition of economic profit is the difference between revenue and the opportunity cost of all resource used in products the items sold.