The increased focus on the implementation of the business practices to comply with the principles will lead to extra time consumption of the management and more resources will be required to ensure the compliance.

1. CIB100 Assignment Business Submission
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CIB100 Assignment Business Submission
CIB100 Assignment Business Submission Sinopec Ltd is one of the major Chinese oil and gas companies. The
company is dedicated to implement the global standards with respect to social performance. In this report,
Sinopec Ltd is proposing recommendations with respect to business practices and approaches that will
ensure compliance to the following two principles of United Nation’s Global Compact initiative (United
Nations Global Compact 2014):
  

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2. Principle-1: Businesses should
support and respect the protection of internationally proclaimed human rights
Principle-7: Businesses should support a precautionary approach to environmental challenges
Review
The Sinopec and other companies in the market place are following various approaches and business
practices to achieve compliance to the Ten Principles of Social Performance of Global Compact. Here are
some of the business practices that are used to achieve compliance to Principle-1 and Principle-7 (Scherer
and Palazzo 2011, 909):
Principle-1:
Providing healthy and safe conditions at the work places.
Providing freedom to from unions to represent the issues of the employees.
Providing an atmosphere where the religious and other beliefs of the employees are respected.
Ensuring that the financial benefits provided to employees are sufficient to meet their basic
necessities.
Creating a culture where any kind of discrimination is not allowed.
Not allowing any kind of labour malpractices.
Principle-7:
Allowing all the stakeholders to have healthy interactions with the company management which will
enforce regulations to prevent environmental issues.
Enforcing commitment to develop products and services which prevent environmental issues.
Collaborating with industry and make efforts to address the environmental issues
Forming a special team or committee who will look after the precautionary measures to prevent
environmental issues.
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3. Lessons Learnt
Principle-1:
The companies are increasingly following business approaches which ensure preservation of human
right. The best thing that is happening is the companies are allowing the employees to form unions
and thereby empowering them to put across their concerns (Warhurst 2005, 160). The employees
have also become aware of their rights and the processes to claim their rights.
On the negative side, many of the regulations and company policies are still on paper and the
implementation efforts are lacking. The businesses are still unable to see the indirect benefits
received through these approaches. Specially, in case of small scale businesses, the management
cannot see the benefits of protecting human rights and indulge in the unfair practices.
Principle-7:
Most of the companies are facing the pressure from various organizations and global forces to
implement precautionary measures to protect the environment. The customers have also become
sensitive about the environmental issues and they are keeping in mind this aspect while making
purchases (Warhurst 2005, 160).
All said and done, there are still many areas of improvement and most of the codes of conduct are on
papers. The companies and businesses needs to enforce the implementation systems.
Recommendations
Principle-1:
The enforcement of the human rights in the businesses should be audited by an outsider
organization. It has been observed that the companies are lacking in terms of implementation. Social
audit by an outsider will resolve this issue (Thorne, Ferrell and Ferrell 2011, 26).
A checklist should be prepared with a view to achieve compliance with various human rights. This
should be circulated to the departmental heads in case of large organization and to the management
team in case of small businesses asking them to meet the standards.
A committee consisting of officials from top management, employee unions and outsiders should be
formed to keep track of the enforcement of regulations protecting human rights.
Apart from protecting human right at the business level, the businesses should take initiative to help
the needy by indulging in corporate social responsibility practices. This will add a feather to the
crown.
CIB100 Assignment Business Submission
Principle-7:
Environmental audit should be done on regular basis by an outsider organization. This will ensure
implementations of the code of conduct which is as of now mostly on paper (Thorne, Ferrell andOnlineOnlineOnlineOnlineOnlineOnlineOnlineOnlineOnlineOnline

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Ferrell 2011, 26).
There should be a certificate issuing authority which examines the products and services of the
companies and then issues certificate of compliance to environment protection standards.
Industry wide collaborative efforts should be made to adopt the approaches which focus on
precautionary measures to protect the environment. This can be done by forming a team which will
work solely for the purpose of development of business practices to ensure environment safety.
Bene ts, Challenges & Implications
In terms benefits are concerned, the implementation of already established standards for protecting human
rights will improve. This will benefit the general public at large and will create a culture of positivity and
better life. The enforcement of business practices related to environment protection will improve global
climate and a better environment to live healthy life. The approaches are more focused on implementation
aspect which will have significant impact on the social performance of the companies.
As far as challenges are concerned, the challenges will stem from the resistance of the companies to adopt
the new approaches. All the aspects of protecting human rights and environment have indirect benefits to
the company. It needs a visionary leader to see the benefits that the companies receive by way of better
social performance. Such leaders are lacking in the economy. Also, all these approaches are easier said than
done. The success of the business practices will depend on the willingness of the companies to adopt the
approaches.
The business practices recommended above will have various implications on the stakeholders of the
companies. The increased focus on the implementation of the business practices to comply with the
principles will lead to extra time consumption of the management and more resources will be required to
ensure the compliance. The business practices will induce trust and confidence among the employees and
the society in general which will improve the brand name of the companies (Yoon, Gürhan-Canli and
Schwarz 2006, 385).Order Now
References
United Nations Global Compact. 2014.
freeassignmenthelp.com.unglobalcompact.org/abouttheGc/TheTenprinciples/index.html (Accessed April 25,
2014).
Scherer, A.G. and G. Palazzo. 2011. The new political role of business in a globalised world: A review of a
new perspective on CSR and its implications for the firm, governance and democracy. Journal of
Management Studies 48: 899-931.
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