MGT610 Assignment Solution Discuss briefly the health risk, ecological risk and economical risk associated with the interaction of business and envi
MGT610 Assignment No 1 Solution File
MGT610 Assignment
MGT610 Assignment Solution
MGT610 Assignment Solution File
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Question No. 1
Discuss
briefly the health risk, ecological risk and economical risk associated with
the interaction of business and environment.
Answer:
Risk
associated with the interaction of Environment:
Health
Risk:
Health problems resulting
from exposure to biologically contaminated water, poor sanitation, indoor
smoke, rampant disease vectors such as mosquitoes, inadequate food supply, and
unsafe use chemicals and waste disposal, rank among the highest environment burden
of disease worldwide.
Ecological
Risk:
Ecological risk are
performed to evaluate the likelihood of adverse ecological effects occurring as
a result of exposure to physical or chemical factor that causes adverse
responses in the environment.
Economical
Risk:
Economical risk is the
chance that macroeconomic conditions like exchange rates, government
regulation, or political stability will affect an investment, usually one in a
foreign country.
Risk
associated with the interaction of business:
Health
Risk:
Business health risk is considered
if your company is often directly related to the health of your people. Symptoms
such as ill health, poor performance, and behavioral disorders in the workplace
cannot be fully understood by management and HR professionals alone.
Ecological
Risk:
Ecological impact is the effect that something
has on living beings, i.e., organisms, and their non-living environment. Even
businesses today are adopting a management philosophy in which they aim to be
profitable but with a lower ecological impact. We call that philosophy
eco-efficiency.
Economical
Risk:
Economical risk centers
on macroeconomic circumstances that may result in significant loss for a
business. These conditions include inflation, exchange rates, new government regulations and other decisions that may
adversely affect profits.
Question
No. 2
What are the benefits to
the corporations working for ensuring environmental sustainability?
Answer:
Benefit
(1): The ability to have positive impact in the community.
Keeping social
responsibility front of mind encourages business to act ethically and to
consider the social and environmental impacts of their business. In doing so,
organizations can avoid or mitigate detrimental impact of their business on the
community.
Benefit
(2): It encourages both professional and personal development.
Providing employees with
opportunity to be involved in a company’s socially responsible activities can
have the benefit of teaching new skills to staff, which can in turn applied in
the workplace.
Benefit
(3): It enhances relationship with clients.
A strong corporate social responsibility framework is essential to building and maintaining trust between the company and clients. It can strengthen ties, build alliances and foster strong working relationships with both existing and new clients.
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