Mr Mark
1) This article highlights the environmental consequences of Orica, which is what most organisations are going through today. The article also depicts how important it is for organisations such as Orica to focus on its environmental issues to satisfy the community and stakeholders (CAI, 2013).
2) The related theory in the article is connected to the Legitimacy theory. Legitimacy theory is when a business is bound by the social contract in which the firms agree to perform various socially desired actions in return for approval of its objectives and other rewards, and this ultimately guarantees its continued existence (Rankin, 2012). Within the article the firm (Orica) has a duty of care within the environment and its stakeholders, “ in recognition of greater public demand for socially responsible business practice. The company has lifted its social responsibility” (CAI, 2013).
To some degree we can relate that the legitimacy theory paints a picture on what should be done. Hence, relating it to normative theory. The article from start to finish states on what should be done within the organisation, the organisation is constantly focusing on improving its environmental aspects and lift social responsibility (CAI, 2013). In conclusion this is how the article relates to the theories. 3) There are a number of elements that I agree with. Firstly, I strongly agree with how the author mentions that there is a connection between organisations profits and the environment performance. In the article the author highlights that net profits have decreased from $663.4 million to $423.8 million (CAI, 2013). This portrays that organisations will have a drop in profits if environmental aspects are not satisfied. Hence, this is what I agree with because it is a good point.
Furthermore, another good point that the author mentions is the harm to the environment and how it affects the relationship with stakeholders. This is evident when the article mentions that there has
2) The related theory in the article is connected to the Legitimacy theory. Legitimacy theory is when a business is bound by the social contract in which the firms agree to perform various socially desired actions in return for approval of its objectives and other rewards, and this ultimately guarantees its continued existence (Rankin, 2012). Within the article the firm (Orica) has a duty of care within the environment and its stakeholders, “ in recognition of greater public demand for socially responsible business practice. The company has lifted its social responsibility” (CAI, 2013).
To some degree we can relate that the legitimacy theory paints a picture on what should be done. Hence, relating it to normative theory. The article from start to finish states on what should be done within the organisation, the organisation is constantly focusing on improving its environmental aspects and lift social responsibility (CAI, 2013). In conclusion this is how the article relates to the theories. 3) There are a number of elements that I agree with. Firstly, I strongly agree with how the author mentions that there is a connection between organisations profits and the environment performance. In the article the author highlights that net profits have decreased from $663.4 million to $423.8 million (CAI, 2013). This portrays that organisations will have a drop in profits if environmental aspects are not satisfied. Hence, this is what I agree with because it is a good point.
Furthermore, another good point that the author mentions is the harm to the environment and how it affects the relationship with stakeholders. This is evident when the article mentions that there has