Requirement of report;
To identify and apply theories and models in accounting to a current topical issue related to a corporation of choice
Find a news piece related to chosen firm’s issues. Pick one issue, CSR / CMR
Identify and rationalize with appropriate accounting theories, the motive, effectiveness and impact of the firm’s CSR/CMR disclosures in addressing these issues
Based on the case findings, make recommendations on CSR/CMR reporting at the corporation level as well as at regulatory level.
Emphasis must be given to effectiveness of CSR/CMR disclosures
Critically analysis covering the main theory elements of the course – reference to corporate reports
Min 10 sources
Group report : 2500 words,
Title Page
Executive Summary (exclude from word counts)
Table of Contents
- Summarize of Woolworths recent topical issues (300 words)
- Unethical behavior in product development
- Woolworths wage theft issue
- Woolworth’s Initiative in addressing these issues (1000 – 1200 words)
- Value based approach (as mentioned in their 2020 CSR report)
- They acknowledge their mistake and take responsibility for it
- They mentioned that it is not in line with their values,
- They intensify and strengthen the training of their people, suppliers and partners
- Hold accountability in wages repayment
- Take responsibility by cutting executive bonuses in order to repay underpaid employees
- CEO Brad Banducci will forfeit a $2.6 million bonus and chairman Gordon Cairns will have director fees cut by 20 per cent because of payment scandal
- Look into award system reform for their negligence
- Promise on protecting employee’s wellbing as part of their 2020 CSR strategy
2.3 Motive of Initiative
- To comply to legislation in accordance to Fair Work Ombudsman
- Stakeholder theory: For good image, expectations from the society, to regain confidence from investors, consumer, employees, suppliers
2.4 Impact and Effectiveness of Woolworth’s CSR strategies
- Can look into their market share if their share price increases, if yes, then strategy can be effective
- Look into their financial report in comparable to other competitors like Coles, Aldi and IGA, did their sales increase or dropped
- Recommendations (800 – 1000 words) this part need further brainstorming
- Triple bottom Line
- Creating shared value (redefine value chain)
- GRI (transparency, comparability, clarity)
- Conclusion (200 words)
References
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