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EVALUATION OF WEBJET CSR REPORTING
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Table of Contents TOC \o "1-3" \h \z \u Executive Summary PAGEREF _Toc532240477 \h 31.0Introduction PAGEREF _Toc532240478 \h 42.0Explaining CSR PAGEREF _Toc532240479 \h 42.1Definition of CSR PAGEREF _Toc532240480 \h 42.2Key Benefits of CSR PAGEREF _Toc532240481 \h 43.0GRI Reporting Principles PAGEREF _Toc532240482 \h 53.1GRI Principle for Report Content Stakeholder Inclusiveness PAGEREF _Toc532240483 \h 53.2GRI Principle for Report Quality Balance PAGEREF _Toc532240484 \h 54.0Evaluation of Webjet CSR Reporting PAGEREF _Toc532240485 \h 64.1Evaluation of Webjet use of Stakeholder Inclusiveness PAGEREF _Toc532240486 \h 64.2Evaluation of Webjet use of Stakeholder Inclusiveness PAGEREF _Toc532240487 \h 65.0Conclusion PAGEREF _Toc532240488 \h 76.0References PAGEREF _Toc532240489 \h 8
Executive Summary
This report intends to explore the application of corporate social responsibility at Webjet Company. Webjet is a leading online consumer travel brand. The report uses online academic journals on CSR, financial reports from Webjet website, and Global Reporting Initiative (GRI) to discuss and explain the role and extent of utilizing CSR principles for corporate success at the Webjet Company.
1 Introduction
Webjet is a leading online consumer travel brand. This report aims to describe the meaning and the advantages of CSR. Select two principles of Report Content and Quality from the GRI 101 and express how relate to the advantages of CSR report. It will analyse how affect the relation between Webject’s CSR statement and GRI Content and Quality principles.
2 Explaining CSR
Zsoka and Vajkai (2018, p. 20) define sustainability reporting as organization’s communication tool for driving non-financial performance. In this era where there is increasing demand for environmental conservation, businesses are doing everything to remain competitive through adhering to legal requirements. Hohnen (2007, p.4) discusses the aim of decision made by organization and ethical behaviour and activities on society and the environment is consistent with sustainable development and welfare of society.
1 Definition of CSR
CSR is an integral part of the business model. It involves all the business activities that contribute to the welfare of the company while at the same time adding value to its stakeholders (EY and Boston College Centre for Corporate Citizenship, 2016, p. 7). CSR has become a mandatory requirement for businesses that want to maintain their value in the market. CSR helps the firm realize the influence of economics, social, environmental, and governance concerns (Hughen & Lulseged & Upton 2014, p.57).
2 Key Benefits of CSR
CSR has several financial and social advantages to make benefits more than its costs. These advantages start within the business and extend to the stakeholders, even though it is easy to see that the stakeholders are the direct beneficiaries of CSR. According to EY (2013, p.14), one of the benefits is the employee loyalty and recruitment. The report also affects the staff profoundly because it can encourage them as a powerful competition and it also help to increase both retention and recruitment. Employee sa...