Your Name:
Student No.:
Tutor’s Name:
Tutorial Day & Time:
Complete answers to the following question and submit it to your tutor, in class, in Week 5.
1. Consider the concept of peak oil and comment on the potential it has to affect the Australian economy. Briefly outline some strategies for dealing with this new threat from the perspective of a small business owner, in a small business of your choice.
Peak oil is a condition wherein the demand for oil outpaces its production. Peak
oil signifies the point in time which worldwide oil production is at its greatest.
After the peak is reached oil production declines. The significance of the peak is
for the first time. Worldwide supply will be unable to meet the growing demand
for oil. Australia and the world have operated in an environment of increasing
oil supply where we have always been able to meet oil demand growth created
by increases in population and technology. Reaching the peak in oil production
marks a new era where the world will be operating in an environment of
constant energy scarcity.
This condition will cause severe economic difficulties as the price of oil will
significantly increase. Oil dependent countries such as Australia will crumble
and countries will engage in resource wars in order to halt economic downturn.
peak oil can shatter the economy of an oil dependent country like Australia. The
combination of declining oil production, increasingly more expensive oil
production, and increasing world-wide demand for oil will generate enormous
price increases in gasoline, diesel, heating oil, transportation, construction,
manufactured goods, food, and all products that use oil for their production and
transportation. Gasoline and diesel provide 95 per cent of the energy for
transportation, Rising inflation, high unemployment, and instability in financial
markets will persist and deepen over time. Economic, social, and political chaos
will result from the inability to address expanding problems. A small business
can deal with the threat of peek oil by supporting the national and local
governments policies and strategies to reduce oil consumption. The small
business can also explore oil alternatives and make sure that the business’ oil
consumption is reduced.
Hand in Page – Tutorial 1, Week 2
Your Name:
Student No.:
Tutor’s Name:
Tutorial Day & Time:
Complete answers to the following three questions and submit them to your tutor, in class, in Week 3.
1. Explain in your own words what you think ‘corporate sustainability’ means.
Corporate sustainability is the ability of an organization to grow and to increase
long-term shareholder value through the integration of economic environmental
and social factors into business strategies. Commitment to corporate
sustainability leads and organization to invest in product and service
innovations that focus on technologies and systems, which use economic,
natural and social resources in an efficient, effective and economic manner. An
organization that seeks corporate sustainability implements the highest
standards of corporate governance, including management quality and
responsibility, organizational capabilities and corporate culture. An organization
that values corporate sustainability meet the demands of shareholders for
sound financial returns, long-term economic growth, long-term productivity
increases, sharpened global competitiveness, superior intellectual capital and
reputation. The overall aim of corporate sustainability is to achieved growth and
success for the company while satisfying the different stakeholders.
2. Consider the organisation within which you work (or use QUT). Do you think it is ‘sustainable’? Briefly explain your analysis.
I believe that General Electric is sustainable because it is successful and
considered as one of the largest companies in the world. It is sustainable
because it recognizes that it has obligations to its stakeholders and
shareholders and at the same time to the society and the environment. The
company satisfies the demands of its stakeholders and it seeks to do so in a
manner that does not endanger the environment and the communities in which
it operates in. The company is also committed to fulfilling its social
responsibilities. It incorporates environmental issues in its strategies. I can say
that the company is sustainable because it is able to achieve growth and
financial success while at the same time satisfying environmental and
social demands. It also provides products and services that improves the
lives of its customers.
3. In the tutorial reading, Friedman argues that, “the social responsibility of business is to increase its profits”. Do you feel he is justified in saying this, why / why not?
I think that Friedman in justified in saying that the social responsibility
Of business is to increase its profits. The organization has different obligations
to society. Corporate social responsibility is an organization’s obligation to
engage in activities that protect and contribute to the welfare of society. One
of the most important social responsibility of an organization is to make a profit
in order to survive. The organization is obliged to its shareholders to maximize
earnings, and operate efficiency. This forms the foundation on which all else is
built. Before the organization fulfils its other social responsibility it has to
increase its profits first. The organization needs to earn because it needs
financial capabilities to fulfil its social responsibilities. An organization cannot
satisfy the expectations, demands, and needs of the stakeholders if it has no
financial means. The economic view of corporate social responsibility also looks
at the organization as an economic unit that has a fundamental obligation to the
society of which it is a part and has an obligation, other than to the
shareholders, to the consumer.
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