Professional Documents
Culture Documents
Business Studies Research Project
Business Studies Research Project
Business Studies Research Project
TABLE CONTENTS
Phase 1..................................................................................................................................................3
INTRODUCTION.................................................................................................................................1
Human rights.....................................................................................................................................2
Diversity in the business....................................................................................................................3
Environmental protection and human health...................................................................................5
The ways in which Woolworths contributes their time and effort in improving the well-being of
communities......................................................................................................................................6
Woolworth’s environmental impact in relation to the triple bottom line.........................................7
PROFIT/Economic:.........................................................................................................................7
PEOPLE/Social:...............................................................................................................................7
PLANET/Environmental:................................................................................................................8
Phase 2..................................................................................................................................................9
Taxation...........................................................................................................................................10
Management:..................................................................................................................................10
Capital:.............................................................................................................................................10
Division of profits:...........................................................................................................................11
Legislation:.......................................................................................................................................11
Phase 3................................................................................................................................................12
Reflection........................................................................................................................................13
CONCLUSION...................................................................................................................................14
Bibliography.........................................................................................................................................15
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Phase 1
3
INTRODUCTION.
In this research report I will outlining the ways in which Woolworths utilize these
three essential components and their pivotal role in shaping responsible and
sustainable business practices, as well as how Woolworths addresses human
rights, inclusivity, and environmental issues in the business. I will also discuss the
ways in which this business apply the concepts of Corporate Social Responsibility
(CSR), Social Responsibility, and Corporate Social Investment (CSI) in fostering
positive societal impact and sustainable business practices along with its correlation
with the criteria that contribute to the success and failure of a successful business.
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Human rights.
Upholding human rights in a business is not just a moral responsibility but also a
strategic necessity. The importance of this commitment cannot be undervalued, as it
has far-reaching implications for both the business itself and society as a whole. The
Woolworths Company is committed to addressing human rights issues in alignment
with the South African constitution and international standards.
Ethical Sourcing: Woolworths has taken steps to ensure that the products it sources
and sells are produced ethically and under fair labour conditions. This includes
working to prevent child labour, forced labour, and other forms of exploitation in its
supply chain.
Human Rights Due Diligence: The company has incorporated human rights due
diligence into its supply chain management processes. This involves assessing
potential human rights risks in the supply chain and taking actions to mitigate these
risks.
Transparency and Reporting: The Company has published sustainability reports that
highlight its efforts in addressing human rights issues. These reports provide
stakeholders with insights into Woolworths' progress, challenges, and future plans
regarding human rights and other sustainability matters.
Training and Education: The company has implemented training and awareness
programs for employees, suppliers, and partners to promote a better understanding
of human rights principles and their importance in the business context.
5
Diversity in the business.
Diversity in a business is of paramount importance and brings numerous benefits
that contribute to the organization's success, innovation, and sustainability. The
Woolworths Company, has been committed to addressing diversity and inclusion
issues within its operations. They do so by:
Woolworths has developed and implemented diversity and inclusion policies that
outline the company's commitment to creating an inclusive work environment. These
policies emphasize treating all employees with respect and dignity, regardless of
their background, gender, race, ethnicity, age, sexual orientation, or other
characteristics.
The Company has focused on recruiting a diverse workforce that reflects the broader
community it serves. This includes actively seeking out candidates from different
backgrounds and underrepresented groups.
Woolworths has strived to foster an inclusive workplace culture where all employees
feel valued, heard, and empowered to contribute their unique perspectives. This can
involve providing training on diversity and inclusion, promoting open communication,
and encouraging employee resource groups.
The Company may offer training programs and workshops to educate employees
and managers about diversity issues, unconscious bias, and how to create an
inclusive environment. This helps raise awareness and promotes behaviour that
supports diversity.
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Woolworths has likely worked to ensure that all employees are compensated fairly,
regardless of their background or identity. They may also have policies in place to
provide equal opportunities for career advancement and development.
Supplier Diversity:
Woolworths may have encouraged supplier diversity by seeking out and supporting
businesses owned by minorities, women, and other underrepresented groups. This
approach can help stimulate economic growth within diverse community
Leadership Commitment:
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Environmental protection and human health.
Incorporating human health and environmental protection into business strategies is
not just about compliance; it's about ensuring a more ethical, sustainable, and
resilient future for the company and the communities it serves. By addressing these
issues, businesses contribute to a better world while also reaping tangible benefits.
Woolworths has shown a commitment to addressing environmental protection and
human health issues through various initiatives and practices. For example:
Health and Safety Measures: The Company likely places a strong emphasis on the
health and safety of both customers and employees. This involves implementing
hygiene protocols, ensuring safe working conditions, and complying with health
regulations to protect human health.
Employee Well-Being: The well-being of employees is crucial for their overall health.
Woolworths may offer employee wellness programs, benefits, and a safe working
environment to promote their physical and mental well-being.
Health Education: The Company might engage in health education campaigns and
initiatives to raise awareness among its customers and employees about the
importance of a healthy lifestyle.
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The ways in which Woolworths contributes their time and
effort in improving the well-being of communities.
9
Woolworth’s environmental impact in relation to the
triple bottom line.
Woolworths South Africa's approach to environmental sustainability aligns with the
principles of the triple bottom line, which encompasses social, economic, and
environmental aspects. Here's how Woolworths South Africa's environmental
practices relate to the triple bottom line:
PROFIT/Economic:
Woolworth’s environmental practices can have positive economic implications:
PEOPLE/Social:
Woolworth’s environmental practices also have social implications that contribute to
the well-being of people within and outside the company:
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PLANET/Environmental:
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Phase 2
12
Taxation.
SUCCESS:
Woolworths can obtain tax rebates if they are involved in CSI projects.
They can also obtain government tenders and renew their licenses if they do
not evade tax.
FAILURE:
Taxation affects the cost structure of the company. Higher tax rates can
increase the cost of doing business, potentially impacting pricing strategies
and profitability.
Tax payments affect the company's cash flow. Meeting tax obligations can
sometimes strain liquidity, particularly during periods of economic uncertainty
or financial challenges.
Management:
SUCCESS:
Woolworths can be managed at least by one competent highly skilled director.
The management of the company can improve since directors are
accountable to shareholders.
FAILURE:
Directors may not have a direct interest in the company, which can hamper
growth and profit maximization
Large management structure can result in decision making taking time.
Capital:
SUCCESS:
Woolworths can raise large amounts of capital as shares/ debentures can be
sold to the public/shareholders
Share capital clause in the Memorandum of Incorporation (MOI) may be
changed to issue more shares
Because a public company’s shares are listed on the JSE which gives the
company exposure to more potential investors.
FAILURE:
Growth is limited if sufficient capital cannot be raised.
Raising extra capital may be difficult if the economic climate is
unfavourable/Share prices change all the time and they may lose value.
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Division of profits:
SUCCESS:
High profits and good returns to shareholders indicate the success of a
company, which increases the value of shares.
Profits generated can be reinvested to expand business operations.
FAILURE:
Shareholders may sell their shares when dividends are low, resulting in a drop
in share prices.
Dividends are not always paid out which may discourage new investors.
Legislation:
SUCCESS:
The company and its owners (shareholders) are separate entities, which may
encourage more people to join the company.
Limited liability allows for greater risk taking, which may lead to growth of the
business.
FAILURE:
Formation procedures are time consuming/complicated/ expensive, as many
legal documents need to be prepared/submitted.
High formation/establishment expenses require large start-up capital.
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Phase 3
15
Reflection
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CONCLUSION.
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Bibliography
About us. (2023, august 12). Retrieved from MySchool MyVillage MyPlanet:
https://www.myschool.co.za/about-us/
Explain two recent CSI/CSR initiatives that the Woolworths company carries out.
(2023, august 13). Retrieved from Brainly:
https://brainly.in/question/53036108#:~:text=A%20nutrition%20pilot
%20programme%20and,a%20safe%20and%20hygienic%20manner.
Woolworths online. (2023, AUGUST 14). Retrieved from Education initiative:
https://www.woolworths.co.za/content/article/good-business-journey/
education-initiatives/_/A-cmp205956
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