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Social and Environmental Reporting - Essay Example
Author : kiehnrudolph
Finance & Accounting
Pages 6 (1506 words)
<University> Social and Environmental Reporting by <Your Name> 6/12/2011 <Lecturer’s Name and Course Number> (a)Identify the main reasons why companies undertake social and environmental reporting and evaluate the Rolls Royce Group plc Health, Safety and Environment Report 2010 ‘Powering a better world’, against these reasons…
This support from the various stakeholders is essential for the company in order to ensure that business continues to exist. Stakeholders of the company are varied – they are investors, lenders, creditors, employees, managers, the environment in which the company operates, government, general public and local community. The co-operation between the multiple stakeholders is essential condition for any company to reach excellence. Stakeholders have a direct effect on the decision of the management. Even if all stakeholders are on board but the local community is against a particular project of the company; productivity is likely to be effected as local community will influence government and the employees. Companies can no longer function in isolation. Their activities are likely to have an impact on various stakeholders and it becomes their duty to keep them informed. (Idowu, 2010) Legitimacy Theory Any organisation operates in a social environment which has certain values which are acceptable and certain others which are not. Every company seeks to establish congruence between the accepted social norms and the social values associated with the company or implied by their activities. ...