The report below is based on my own best practice for the assignment task and have Provide a summary of the purpose of Corporate Sustainability Reporting, and have also provide a summary about the two theories stakeholder theory and legitimacy theory including the annual reporting about the company 's Toyota motor corporation and BHP Billiton and the comparison that how they have address the economic social environmental aspect of the companies in their report 2011. And has finalise by comparing two different sustainability report from both company accordingly it has define that how legitimacy is managed through reporting by the two companies from the perspectives of Stakeholder Theory and Legitimacy Theory.
Corporate Sustainability reporting is the practice of measuring, disclosing, and being responsible to internal and external stakeholders for organizational performance towards the goal of sustainable development The term Corporate sustainability reporting considered same way with those which describes reporting on economic ,social and environmental impact, for example reporting on Corporate social responsibility of a company. Corporate sustainability reporting provide organisations a guideline to make changes and improvement in aspect to business efficiency, reputation risk management , stakeholder management other social and economic part of the business by disclosing the status of the business in the eyes of society and its stakeholders. Reporting non financial Corporate activities provide a way to communicate and deal with social issues and help to protect a continuing good relationship with company's stakeholders. Organisation that are performing properly in the market and society may face less problems in their business in relationship to their stakeholders. Because of which they may be able to achieve competitive advantages in comparison to other that are not engage in corporate sustainability activities, in this context corporate sustainability reporting can play a vital role in cresting responsibilities and accountability for activities and benchmarking. Corporate reporting and company law/Villiers charlotte Rider,Barrey A corporate sustainability report provides an reasonable and effective explanation of the sustainability performance of both Negative and positive contribution(effect)of a reporting entity. It also help organisations to learn about themselves and to see what has actually been done in the organization. Organisations produce Corporate sustainability reports mainly to look for organizational legitimacy based on Global Reporting Initiative’s. GRI Reporting framework is designed to improved accountability and performance by learning through stakeholders engagement, which release results that occurred within the reporting Period in relation to the entity's obligation Strategy and management approach. On the basis of Global reporting initiative's(GRI) Corporate sustainability report is useful for following purposes. https://www.globalreporting.org/resourcelibrary/G3.1-Guidelines-Incl-Technical-Protocol.pdf Benchmarking and to analyse that company has follow the required rules regulation and have performed with the social values and performing in respect to required standard and have follow all relevant and required laws. Represent how organisation is affecting and affected by its influences and have match the corporate and social expectation about the sustainable development of the company and its progress. It also present a proper idea about if company is respecting the stake holders requirements.
In another aspect Corporate sustainability reporting disclose those information that are relevant to compare organisation with other organisation that are performing along with which result as a gain of competitive advantages for a organisation.
Hence the purpose of corporate sustainability reporting is to find out all the non financial corporate...
Please join StudyMode to read the full document