Week 9 Learning Reflection

docx

School

University of Guelph *

*We aren’t endorsed by this school

Course

3020

Subject

Management

Date

Apr 3, 2024

Type

docx

Pages

Uploaded by MinisterReindeerPerson346

Week 9 Learning Reflection University of Guelph MGMT*3020: Corporate Social Responsibility Dr. Cris Bravo March 19, 2022

Question 1: After looking through the 17 United Nations Sustainable Development Goals, I found a couple that would resonate well with the firm we chose for the group case assessment. I believe that goal 6, clean water and sanitation, goal 7, affordable and clean energy, are both SDG’s that could be applied to our company. The company that we chose was Bonterra Energy Corporation, a conventional oil and gas company that is based out of Alberta, Canada. Bonterra is working towards a more sustainable lifestyle while integrating the ideas from their main organizational stakeholders: employees, management, and shareholders/investors. Going back to the SDG’s, first off goal six, clean water and sanitation would apply to our company as they are trying to find more effective, sustainable, and clean ways while drilling in the Pembina Cardium Oil Fields. Secondly, goal seven, affordable and clean energy directly relates to our company is providing access to affordable oil, gas, and energy to Canadians. This goal can help our company promote investment in energy infrastructure and clean energy technology (United Nations, n.d). Those two goals are the most important, in my opinion, to our company as they correlate with one another. The Company could reduce the volume of surface water used in their oil and gas development to help increase the clean water supply to the communities surrounding the operations. The Company could also adopt new drilling practices or invest in clean and renewable energy to help with their sustainability goals. Question 2: Having greater communication with stakeholders, particularly investors, is a goal of integrated reporting (Chandler, 2020). It's crucial that the information you share with stakeholders on strategic CSR issues be trustworthy and accountable. To include these aspects in their financial reports, companies have begun to prepare audits of their financial reports

(Chandler, 2020). The triple bottom line, Figure A1 from Chandler's textbook (2020), covers the minimal standards for a company that is serious about informing its stakeholders about its planned CSR implementations. The triple bottom line offers guidance on how to include economic, environmental, and social elements in their financial reporting because they all affect earnings (Chandler, 2020). A financial report must be precise for the stakeholders to comprehend what is happening with the company (Chandler, 2020). This demonstrates the company's desire to be open and transparent with its stakeholders about its operations and empowers them to make wiser judgements, particularly regarding investment decisions. Integrated reporting can be applied by businesses in a variety of ways. They can be used to help the business understand the effects it has on the world on a financial, environmental, and social level. The effect that each department's activity is having on each of these areas should be discussed openly by all departments. They can then work to discover solutions to these problems and improve as a firm if something is not going well financially or they are not achieving their sustainable goals. By focusing on these areas, the business may become more profitable, which is ultimately what any firm seeks. Question 3: In our case assessment, we identified the organizational stakeholders: employees, management, and investors as the ones who are the most responsible for corporate governance in Bonterra Energy Corp. They are the ones responsible because they have the highest motivation to act and the highest impact on operations. The Company states that “Bonterra’s long track record of performance is due to its experienced management team, low-risk asset base and sustainable pace of development” ( Bonterra Energy , n.d.).

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version

Access to all documents
Unlimited textbook solutions
24/7 expert homework help

References Chandler, D. (2020). Strategic corporate social responsibility: Sustainable value creation (5 th ed.). Los Angeles: SAGE Publications. Overview - Bonterra Energy . (n.d.). https://www.bonterraenergy.com/about/overview United Nations. (n.d.). Goal 6| Department of Economic and Social Affairs. United Nations. Retrieved from https://sdgs.un.org/goals/goal6 United Nations. (n.d.). Goal 7 | Department of Economic and Social Affairs. United Nations. Retrieved from https://sdgs.un.org/goals/goal7

Related Documents

Memo.docx

Resumo.docx

3-1 Discussion.docx

Resumo HRM Midterm 2.pdf

Quiz Diversity, Inclusion, and the Campus Environment.docx

2-1 Discussion Needs of an Organization.docx

MGMT weekly reflections.docx

Sarah Gray Extra Credit Man3303.docx

C236 Task 1.docx

Classroom Management Plan Final.docx

The process of strategy formulation - Bridge CPE class.docx

Strategic analysis - internal environmental analysis - Bridge CPE class.docx

Recommended textbooks for you

Purchasing and Supply Chain Management

Operations Management

ISBN:9781285869681

Author:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson

Publisher:Cengage Learning

Management, Loose-Leaf Version

Management

ISBN:9781305969308

Author:Richard L. Daft

Publisher:South-Western College Pub

MARKETING 2018

Marketing

ISBN:9780357033753

Author:Pride

Publisher:CENGAGE L

Principles of Management

Management

ISBN:9780998625768

Author:OpenStax

Publisher:OpenStax College

SEE MORE TEXTBOOKS

Recommended textbooks for you

Purchasing and Supply Chain Management
Operations Management
ISBN:9781285869681
Author:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson
Publisher:Cengage Learning
Management, Loose-Leaf Version
Management
ISBN:9781305969308
Author:Richard L. Daft
Publisher:South-Western College Pub
MARKETING 2018
Marketing
ISBN:9780357033753
Author:Pride
Publisher:CENGAGE L
Principles of Management
Management
ISBN:9780998625768
Author:OpenStax
Publisher:OpenStax College