EXPLAIN WHY BURBERRY PLC. INCLUDES THIS INFORMATION WITHIN ITS ANNUAL REPORT

Posted on March 4, 2022 by Cheapest Assignment

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The Global Business Environment - Evolution and Dynamics

Purpose of responsibility agenda

Burberry Plc. is a global retailer of Luxury products and has been manufacturing luxury items since 2004 (Burberryplc.com, 2019). Being involved in manufacturing and production, the company has identified the impacts on the environment due to business activities. Key operations of core business activities have been prioritised in terms of its consequences to nature, industry as well as to the people. The responsibility agenda allowed this company to establish a strong reputation in the industry. For instance, the responsibility agenda prioritised replacing animal products such as real fur (Burberryplc.com, 2019).

Reading and Response

This has depicted considerations for wildlife and biodiversity and also reduced the use of plastic in the business. Therefore, the responsibility agenda sets a list of new activities that intend to help nature and
the environment. The company has been recognised as the topmost luxury brand in the fashion industry (Burberryplc.com, 2019). Therefore, brand recognition is one of the purposes for the inclusion of the responsibility agenda in the Annual report. Purpose of communication regarding sustainability goals, community issues and environmental issues in the Annual Report 2018/19 As per the responsibility agenda, Burberry’s 5-year plan has set for sustainable development goals among the United Nations (Burberryplc.com, 2019). Accordingly, the company has been ranked as a leading brand for textiles, apparel and luxury products. According to Hassan et al. (2020), the Annual report has the purpose of communicating the company’s operating and financial activities that help stakeholders, inventors to make investment decisions. As per the comments of Hassan et al. (2020), investors are more likely to invest in a socially and ethically responsible company. Therefore, the Responsibility Agenda depicting considerations for low-carbon footprints and reuse of waste and improving products to reduce environmental impacts could establish a positive brand image and message to the society and investors.
For instance, the sustainability report aims to define and depict future considerations for improving social and environmental issues. Sustainability reporting such as social and environmental responsibility helps managers, workers and consumers identify and relate to organisational missions and visions (Hassan et al. 2020).

Reflective Practice

The company has positively impacted 1 million people including mitigating education inequalities, economic empowerment by facilitating jobs for remorse communities in the UK (Burberryplc.com, 2019). This also includes establishing synchronisation and harmony among communities. Therefore, the
the company removes critical social barriers that help establish a better place for people and businesses as well.

References:

Burberryplc.com, (2019) ANNUAL REPORT 2018/19 Retrieve on:29.10.2020 from:https://www.burberryplc.com/content/dam/burberry/corporate/oar/documents/B
urberry_201819-Annual-Report.pdf

Hassan, A., Elamer, A. A., Fletcher, M., & Sobhan, N. (2020). Voluntary assurance of sustainability reporting: Evidence from an emerging economy. Accounting Research Journal.Retrieve on:31.10.2020
from:https://myresearchspace.uws.ac.uk/ws/files/12496287/2019_09_24_Hassan_et_a
l_Voluntary.pdf

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