“Sustainable” business practices are being touted, or even required, more and more by western society. What is ANZ’s sustainability policy and how is this congruent (or not) with cutting edge sustainability thinking and theory. Does this thinking and practice change across borders? And if so, how does the ANZ’s Australian head office engage with it? Does what they espouse align with the reality of their practice?
Over the past few decades, sustainable business practices have become more prevalent and required in corporations. Australian organisations are required to be responsible for being sustainable socially, economically and environmentally, here we focus on the environmental factors. Australia’s government is constantly coming up with new way for its people and businesses to follow more sustainable programs. Western society as a general believes that sustainable business practices are an essential part of any business policy. Pushes through meeting between world leaders, countries are now more than ever expected to upkeep sustainable conventions. Although almost all large corporations claim that they have strong sustainable business practices and policies, not all corporations espouse what they preach. It is difficult for any corporation to achieve sustainability at a level which pleases everybody, however most organisations are noticing that having sustainable business practices is rewarding both financially and at a customer satisfaction level. Meeting the needs of a business and its stakeholders, while at the same time managing it’s effects on society and the environment are core to business sustainability (Pojasek 2007). The culture we live in thrives off of new and improved ways of living. Finding the most sustainable option, in every case, allows organisations and their customers to grow. This generation will not stand for ignorance and insensible approaches to sustainability in the corporate world. Large businesses must be aware that the decisions they make will often impact beyond the walls around them, and that they must answer for the damage they cause. Organisations that shy away from sustainable options, be it due to finances or ignorance will see themselves placed under immense pressure from government organisations all the way down to the consumers. This push for a better tomorrow, is being incorporated around the world on a business and personal level. Burke (1991), lists ten characteristics for a sustainable society, such as using renewable resources and linking development with conservation, these when applied to an organisation build a trust and a loyalty with stakeholders who align their morals with the companies they choose. If everyone were to stand by these rules, the prospect of the population doubling in the next fifty years may not seem so daunting. However not everyone abides, as it is not always economical or immediately beneficial to be sustainable and some corporations cannot see the footprints they are leaving behind for the next generations to deal with. Corporations need to see the potential for improving business value through sustainability, starting internally with management, before reaching out. The general consensus is that sustainable business practices are vital in the longevity of any organisation and needs to be taken seriously. Australia is ranked quite highly when it comes to cutting edge sustainability thinking and theory. In fact the most sustainable company in the world in 2014 is Westpac Banking, which is an Australian corporation (Smith 2014). With four companies placed in the top hundred, on the most sustainable companies list, one can see that Australia’s expectations for business’ to adopt sustainable approaches throughout all their business operations is taking effect. The government uses many tactics to make sure that businesses are using sustainable business practices. One method is the annual Australian business award for sustainability, this is useful, as...
Please join StudyMode to read the full document