Assessment Two-Case Study Essay Example

TO WHOM SHOULD THESE REPORTS BE ADDRESSED?

By (……..)

The Name of the University

Introduction

The stakeholders form the bedrock and subsequent growth of any company: Paraway operates in 21 large scale pastoral enterprises across New South Wales, Victoria and Queensland which consequently involves numerous categories of stakeholders. The relationship between stakeholders and the company can be constantly sustained by upholding the values and moral standards of the company. The stakeholders should be presented with the organization’s report since they form the core foundation of the company which contends with fundamental organization theory of stakeholders.

Paraway has established significant business impact within its community through collective effort of the major stakeholders. Furthermore, the company’s employment track record, business achievements and other corporate social responsibility records should be effectively reported to their stakeholders. The report ought to be addressed to their respective stakeholders in order to sustain the integrity of the company and the ultimate mission of the company.

According to Certo (2005), sustainability reporting essentially provides key organizational information which includes: economic, environmental, social and governance performance. Creamer (2007) elaborates stakeholder theory as the theory that forms the basic conceptual framework of organization’s morals and ethical sustainability. For instance, the primary value of Paraway is to operate a sustainable pastoral business through the creation of long term return and minimal risks. This implies that apart from the fiduciary responsibly of maintaining the shareholder, there are other important parties such as, customers, employees, financers, suppliers, communities, government agencies and trade associations which significantly affect the prosperity of the company.

There are numerous stakeholders who revolve around the operations of Paraway business. The company can maintain validity and effectiveness by addressing the report to a specific group of stakeholders. To begin with, the investors should be considered because they are critical stakeholders to the company’s expansion, networking and financial support. Rawlings (2009) explains that the investors do not only help the company obtain properties but they also offer potential networking avenues thus it’s vital for the company to effectively report to them.

The company also relies on their customers for business sustainability and growth. The goal of Paraway is to ensure sustainability by maintaining their clients’ partnership and relationships. This means that the clients deserve a credible and proper accountability from the company in order to win their trust. In order for the company to comprehensively maintain their clients, it is essential to constantly address and update the clients with the reports.

Conclusion

In conclusion, it is noble duty for Paramay to provide a report to its stakeholders in order to keep and promote their relationships. This is also in line with the stakeholder theory which asserts that sustainability report should focus on improving organization’s commitment to its internal and external stakeholders.

Recommendation

Although, shareholders may form an integral part of the organization, the stakeholders are numerous and equally apply a vital role (Post, J. 2002). The company ought to analyze their relationships with all stakeholders and improve on the challenges that may undermine the working relationship.

References

Certo, C., 2005. Modern Management (10^th ed), Pearson.

Creamer, M., 2007. You call this transparency? They can see right through you, Advertising Age, 78 (18).

O’Dwyer, B., 2011. The case of Sustainability Assurance: Constructing a new assurance service, Contemporary Accounting Research, 28 (4): 1230-1266.

Post, J., 2002. Redefining the corperation: Stakeholders Management and Organizational Wealth, Stanford University Press.

Rawlins, B., 2009. Give the emperor a mirror. Toward developing a stakeholder measure­ment.