BSBSUS511 Develop Workplace Policy and Procedures for Sustainability

Introduction

In this report, the sustainability policy of the company Wesfarmers will be discussed. The focus will be on how the company manages the sustainability options to do good business in the market. This process includes the collection of data from the market and the analysis of the satisfaction of the stakeholders. The report will also include how Wesfarmers’ operations follow the policies of sustainability. Wesfarmers is a multinational company and it manages the sustainability procedure with efficiency.

Part - A

Background of the company

Wesfarmers is an Australian conglomerate that operates retail, chemical, fertiliser, industrial and safety products business. Being one of the largest companies in Australia, Wesfarmers must maintain some of the sustainability procedures to remain successful in the market. It started its journey in 1914 and at present, it has become a multinational company with revenue of $30.8 billion in the year 2020. The company primarily does its business in Australia, New Zealand, India and Ireland. And there are also some other regions where the company does business in a joint venture (Campbell, 2017).

Researches and the sources

The research has been done on the Wesfarmers company and the process of research is based upon the sustainability process that the company follows. This research process has been done on the stakeholders of the company, and the result has been made from the answers they have provided against the research questions. For the research, qualitative open-ended questions have been used and the research is a primary one so that the researcher can get the data directly from the people who are directly and indirectly attached to the company. The research provides the results regarding the sustainability of the company Wesfarmers (Cheng, Green, & Ko, 2015).

Method and techniques of policymaking

A policy is a document that includes the process by which the company maintains the operations in it. This is the process that helps the companies to make strategies for the future. The policy-making, in this case, will be based upon the results of the primary research that has been done on the company Wesfarmers by the researcher on the stakeholders’ opinions about the policy (Gyngell, 2017). The method is important for policy-making and in this process, the policy is counted as the future action plan of the company. With the proper policy in place, the management of the company will face less stress as the employees will be maintaining the written policies. The policy will be written in a fair way so that it becomes clear to all the employees as well as to the organisation itself (Birkland, 2019). Although all the companies have different policies for their operation, the quality of the business depends upon some general rules which are important for the company to acknowledge. The questions such as ‘who’, ‘when’ and ‘how’ the policy will be implemented in the operation process of the company is important and to provide the answers, the company Wesfarmers needs to depend upon the research that the researcher has done on the stakeholders. This is the basic idea of policy-making and the policy-makers need to follow it (Spaargaren, 2020).

Needs and interests of stakeholder groups

The need for the stakeholders of the company Wesfarmers is important to identify so that they can plan for the policies that they are going to follow in the future. There are different stakeholders for the company and the needs are different for them.

The internal stakeholders such as the owner of the company, managers and employees have the interest to produce better products in the company so that they get job satisfaction and status from the company as well as financial security that the company promises. On the other hand, the external stakeholders have different needs and demands. The government of Australia has an interest in legal business, taxes and jobs in the company. The suppliers have the interest that they get long term contracts and immediate payment. The local community expects corporate social responsibility from the company’s end. The banks have the needs of interest and principal to be repaid. These are the main needs of the stakeholders that they expect from the company (Freeman, 2015).

Time frame and costs

The time frame and costs for the policy structure are dependent upon the strategies that the company has taken. The policy of the business provides a time frame and an estimated budget. The process needs to be done within the time frame so that the company can fulfil the plans within the time and within the budget. The time frame and the budget can be different depending on the present situation of the company, which is Wesfarmers in this report (Herd, & Moynihan, 2019).

Part - B

Scope of the policy

The policy that the researcher has identified as the perfect one for the company Wesfarmers is important for the policy-makers as they will make the strategy according to the report and the policy must include some factors such as the breadth of the application, approach of the policy, relevant legislation, and organisation’s standard (Laundering, 2016).

• The breadth of the application

The policy will be applied to the whole organisation and the policy must meet the criteria that the organisation needs. The policy of Wesfarmers is to maintain the quality of the business all around the world and equally treat the different regions so that the scope of business remains the same for all the branches in different countries of Wesfarmers.

• The approach of the policy

The approach of the policy will integrate all the three aspects that are economic, social and environmental as they are related to each other. Therefore, the policy must be made relating all those three aspects. Individual preference may work for the company, however, that can disbalance the equation of these three aspects (Svensson, & Wagner, 2015).

• Relevant legislation

The policy must ensure that the business is being done according to the legislations and laws that have been set by the government in the countries where Wesfarmers do the business. Any step that is against the legislation can be dangerous for the business process and that is not desirable at all for the company (Egger, & Wamser, 2015).

• Organisation’s standard

The policy should provide a framework that will reflect the business standard of the company. Wesfarmers is a reputed company and the standard and quality of the business should be maintained for sustainability in the market (Alves, & Alves, 2015).

Business policy

The business policy will recognise that the business has an important role to play in managing and expanding the business for the future and to help secure the long-term sustainability of the company (Wheelen et al., 2017).

From the end of Wesfarmers, the company is committed to taking the following actions:

• To achieve proper environmental practices across the entire operation.
• To produce an annual plan to set out the objectives, targets and planned actions.
• To comply fully with all relevant legislation.
• To minimise waste and reduce water consumption where possible.
• To reduce, reuse and recycle the resources consumed by the business wherever possible.
• To provide all employees with the training and resources required to meet the objectives.
• To openly communicate the policies and practices to interested people.
• To monitor and record the business operations on a regular basis and compare the performance with policies, objectives and targets.

Implementation strategy of the policy

The implementation strategy regarding the policies is important as the company needs to properly apply the policies in the company so that the targets are achieved. In order to do that, the company needs to plan properly and apply those policies.

The company should maintain the environment by keeping the pollution low and should recycle and reuse the resources to maintain the environmental sustainability. To keep the production process high, the employees must get the resources that they need; however, misuse of the resources should be stopped to maintain economic sustainability. The managers have to provide proper training to the employees so that they can learn about the policies and can maintain them properly. These are the basic processes of implementing the policies of sustainability (Grindle, 2017).

Conclusion

It can be concluded that the policy of Wesfarmers is important for the operations that the company manages. The quality of the operation is dependent upon the sustainability policies as these will make the company take strategies for the long term. The planning process has been done by the researcher and the policy that has been taken will be implemented properly to increase the business and the reputation of the company.

Introduction

In this report, the implementation of the sustainability policy will be discussed. As the policy has been made, the company Wesfarmers need to implement the policies properly in order to achieve success in the market. The focus of this report will be on the implementation policy of the company that has been taken.

Collection of feedback and data

After applying the policies in the practical field, the policy of the company will be to collect the data as feedback from the stakeholders so that the success of the policy can be evaluated properly and if any wrong decision has been taken as a part of the policy, there will be the chance to rectify the mistake. The feedback will be collected as a primary research process, and the stakeholders will provide the answer to some questionnaire so that it can be understood that whether the policy served the interests of the stakeholders or not. In this process, the quantitative data collection process will be used (Mettler, & SoRelle, 2018).

Analysis of the data 

The collected data as feedback will be analysed through statistical tools such as central tendency, the pattern of the curves and other similar tools. There is software that can do the job for the company and the analysed data will be sent to the management board so that they can change the policies as per the requirement of the stakeholders and plan for the future. This analysis will help the company to grow and capture more market share. This analysis will also provide the success rate of the policies that have been taken by the company and it is important that the company understand the pros and cons of the policy to make proper changes.

Identification of trends

The analysis of the implemented policies will identify the trends in the market and the company Wesfarmers can change its policy according to the trends of the market so that the business can grow properly in the market. The trend often drives the market and to achieve success, Wesfarmers needs to follow the trends (Rashid, Anwar, & Khan, 2015).

Documentation of the policy

To meet the requirements of the stakeholders, the company needs to provide the documents of the policy to selected stakeholders to make them familiar with the policies of the planning of the company (Börjesson, 2016).

Conclusion

It can be concluded from the report that the policy of the company Wesfarmers need to be analysed so that the implementation of the sustainability plans can be evaluated properly and also can be rectified properly.

References

Alves, J. R. X., & Alves, J. M. (2015). Production management model integrating the principles of lean manufacturing and sustainability supported by the cultural transformation of a company. International Journal of Production Research, 53(17), 5320-5333.

Birkland, T. A. (2019). An introduction to the policy process: Theories, concepts, and models of public policy making. Routledge.

Börjesson, L. (2016). Beyond information policy: Conflicting documentation ideals in extra-academic knowledge making practices. Journal of Documentation.

Campbell, J. (2017). Insights from the company monitor: Wesfarmers. Equity, 31(8), 16-17.

Cheng, M. M., Green, W. J., & Ko, J. C. W. (2015). The impact of strategic relevance and assurance of sustainability indicators on investors' decisions. Auditing: A Journal of Practice & Theory, 34(1), 131-162.

Egger, P. H., & Wamser, G. (2015). The impact of controlled foreign company legislation on real investments abroad. A multi-dimensional regression discontinuity design. Journal of Public Economics, 129, 77-91.

Freeman, R. E. (2015). Stakeholder theory. Wiley encyclopedia of management, 1-6.

Grindle, M. S. (2017). Politics and policy implementation in the Third World (Vol. 4880). Princeton University Press.

Gyngell, A. (2017). The company we keep. Australian Foreign Affairs, (1), 30-49.

Herd, P., & Moynihan, D. P. (2019). Administrative burden: Policymaking by other means. Russell Sage Foundation.

Laundering, A. M. (2016). SCOPE AND APPLICABILITY. Policy.

Mettler, S., & SoRelle, M. (2018). Policy feedback theory. In Theories of the policy process (pp. 103-134). Routledge.

Rashid, M., Anwar, M. W., & Khan, A. M. (2015, April). Identification of trends for model based development of embedded systems. In 2015 12th International Symposium on Programming and Systems (ISPS) (pp. 1-8). IEEE.

Spaargaren, G. (2020). Sustainable consumption: a theoretical and environmental policy perspective. In The ecological modernisation reader (pp. 318-333). Routledge.

Svensson, G., & Wagner, B. (2015). Implementing and managing economic, social and environmental efforts of business sustainability. Management of Environmental Quality: An International Journal.

Wheelen, T. L., Hunger, J. D., Hoffman, A. N., & Bamford, C. E. (2017). Strategic management and business policy (p. 55). Boston, MA: pearson.

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