The company tries to understand the impact of the people action and profit requirements on the planet and try to determine a middle ground approach that would be beneficial for all stakeholders involved in the operation. The companies in this model try to develop a balanced scorecard approach in measuring with what the people have got and what they would like to achieve in the future. The companies measure the impact of their social and environmental endeavours and try to act as a socially responsible organization (Sanchez, 2015). In this process, there is mixing of the tangible profit requirements of the company and the final social consciousness of the company. It enables the people to learn about the growth as well as be socially responsible in the process. Each of the three principles of people, planet and profit are analysed and the company then formulates its own process from this assessment. The companies use these three factors and develop their own paradigm requirements and approach to address these clauses. This is used as a formula to develop unique models.
Some of these models would be overlapping with one another, and it is because the most basic aspects of these models and their objectives are usually aimed at the same thing. It is critical to use this while applying the models to understand the sustainability situation of SIA (Sanchez, 2015). For instance, consider how the Triple Bottom line and cooperative models can be represented hand in hand. In the triple bottom line model, the economic elements, the environmental element and the people element are all integrated. The environmental element refers to the different ways the business can operate in ways that it has minimal impact on the environment and sustains and supports the regeneration of natural sources. Economic sustainability of the TBL refers to the form of economic burden that is raised by the business to the environment and people, and also could be used to understand how economic operations could be sustained within the organization in a least impact way. Similarly understanding the people aspects would be helpful to prevent conflictsbecause of organizational impact on society (Boiral & Henri, 2015). The cooperative models helphighlight how different players become critical for the same aspects represented by the triple bottom line. According to the cooperation model, it will actually be helpful to understand how the different aspects of TBL, such as people, environment and economic aspects could have an effect on one another. Coordination will add to benefits in the overall interaction.
Results, Analysis, Conclusions and Recommendations
Here, data from the past annual year CSR reports of Singapore Airlines would be taken and a benchmark analysis would be conducted by comparing against best practices in the industry based on the different models identified above. Secondary research data analysis of the sustainability reporting and initiative of SIA is also presented here.
The sustainability report which is made use of here is the one that SIA has release for the time period of 2014-2015 and 2015-2016 (SIA, 2016). Screen shots of the reports are presented and some of the more concise details that could be discussed from the report based on the different models presented earlier are tabulated and presented.
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