We, at LG Electronics, will: 1) Comply with international conventions, standards, and local laws associated with the environment and engage in voluntary activities to improve the environment. 2) Develop and implement a system to reduce greenhouse gas emissions, measure and improve the performance of this system, and always make the results available to the public. 3) Identify and meet the needs of green consumers, by promoting the sustainability of our products and stimulating the consumption of greener
Nowadays, the green awareness of the public is increasing from time to time. People tends to put more effort to protect the environment compared to those days. Organizations could achieve sustainability by meeting the current needs without destroying the environment. This leads to the implementation of environmental accounting. The environmental accounting can further classified into environmental financial accounting (EFA) and environmental management accounting (EMA).
Firms which are managing environmental affairs their relations with consumers, vendors, regulators, and other industries are increasing and improving their sustainability to the success. The environmental strategies include developing green business, divesting environmental-damaging business, Struggle to become low cost producer, through energy conservation and waste minimization, and implementing different strategy through green product features. The firms can include environmental representative in their board of directors, announce bonus for the favorable environmental results, establish environmental oriented objectives, include environmental values in mission statements, and provide environmental training program for firm managers and employees. WHY FIRMS SHOULD “BE GREEN”
Sustainability, another concept to green movement, is a rising importance and societal forces of this must not be underestimated (Dib,Lyndon 94-95). In review from the concept of Green movement green marketing was developed, also that the consumer is the group that is pushing for it. The consumers view today about going green is that is healthier, better for the environment and the right thing to do. “Shoppers are seeking out greener products, energized by the prospects of healthier alternatives, higher quality, preserving the environment and saving time and money” (Ottman) with this
Corporate Social Responsibility (CSR) relates to the actions of an organization and the effects on the environment and social wellbeing. It is about the way that the company assesses its actions and takes responsibility for this. (Investopedia, n.d.) CSR is a management concept whereby companies integrate social and environmental issues in their business operations and interactions with stakeholders. The company aims to achieve a balance of economic, environmental and social objectives, while also listening to the needs of stakeholders.
Transformational Leadership Leadership is ability to inspire and maintain among the people who are needed to achieve organizational goal (Dubrin, 2007). Leaders ensure the position of organizational functions is aligned with external environment and then direct their followers towards it (Zaccaro & klimoski, 2001). Effective leaders plan the strategies and predict the future probabilities (Haider & Riaz, 2010). They can lead organizations to success by giving more attention to environmental changes, which in turn helps to set objectives and goals. One of the elements of leadership that contributes to leadership effectiveness is the style of the leader.
Sustainability has become more and more important to the business and the community, the needs of sustainability reporting have been increased also. John Elkington coined an accounting framework in 1997, which called triple bottom line reporting (Vivian 2012). Generating profit is the traditional goal of the business, with triple bottom line reporting, the business not only need to present the economic value of the company, but also the environmental and societal issues (Timothy and Hall 2011). In order to comply with the community expectation, the company should use the most relevant and common indicators, such as Global Reporting Initiative, to provide a good triple bottom line reporting to the public, because it is easier for them to compare
Originally believed that sustainability or environmental protection was the responsibility of developed countries is no longer true. The developing countries have equal stake and probably more than the developed countries as it becomes extremely critical for them to use their resources carefully. Now that we have established through various industry cases of how sustainability can be profitable, let us look at steps an organization can take to internally promote sustainability 1. Incentivize Sustainability: If the organization wants its managers to think about the triple bottom line, incentivizing them helps achieve sustainability targets. 2.
In essence, different goals and potential audiences determine that two types of environmental performance assessments (comparative vs. absolute) can be distinguished (Markham & Lee, 2013). Whether site-specific, environmental conditions are accounted for constitutes an underlying watershed between them. As a result, disparate metrics are needed to accommodate these different assessments, which essentially demand “realism” to different extents. In the context of sustainability, the dilemma of pursuing “relative” or “actual” environmental outcomes are getting more prominent (Markham & Lee, 2013). A performance management system in any organization is an extremely vital HR function that drives and directs all decision-making processes in the organization, and determines the effectiveness of individual and organizational performances
Ethical leadership is related to employee job satisfaction by impacting a positive influence on employee performance (Resick et al., 2011). The ethical leadership also found to increase the intrinsic motivation and job responses (Piccolo, et al., 2010). The willingness of the employee to report any concern and problem also depends on the organization culture and leadership behavior (Brown et al., 2005). It is also studied that a leader with strong ethical traits can affect positively to task significance and autonomy of the employee job (Ruiz, Ruiz & Martinez, 2011). According to them, the followers have willingly perceived the good traits of their leaders and thus good moral, values are practiced in an organization that can shape the overall