CA7013 SUSTAINABILITY IN GLOBAL COMPANIES 2022-23 REPORT
Report title
A critical review of the sustainability strategies of two companies as communicated by their sustainability or CSR reporting. This report will compare the levels of engagement in the sustainability challenges and evaluate resilience to potential or actual business risks.
Structuring a Report
A key feature of reports is that they are formally structured in sections. You need to understand the function of each section of your report so that you can structure your information appropriately.
Please note: Reports for different briefs require different sections, so always remember to check carefully any instructions you've been given. We will have a seminar discussing the report structure specific to this assignment but the following is a basic report structure that you can use as the basic structure of your report adding specific sections where necessary.
Title Page
This should briefly but explicitly describe the purpose of the report (if this is not obvious from the title of the work). Other details you may include could be Module detail, your name, Student ID, the date and for whom the report is written.
Abstract
(Also called the Summary or Executive Summary) The abstract should enable the reader to make an informed decision about whether they want to read the whole report.
The Abstract should briefly describe the content of the report. It should cover the aims of the report, what was found and what, if any, action is called for. Aim for about 1/3 a page in length and avoid detail or discussion; just outline the main points. Remember that the summary is the first thing that is read. It should provide the reader with a clear, helpful overview of the content of the report.
Contents (Table of Contents)
The contents page should list the different chapters and/or headings together with the page numbers. Your contents page should be presented in such a way that the reader can quickly scan the list of headings and locate a particular part of the report. You may want to number chapter headings and subheadings in addition to providing page references. Whatever numbering system you use, be sure that it is clear and consistent throughout.
Introduction (use your own headings)
State what the report is about - what is the question you are trying to answer? In the introduction you should explain the rationale for undertaking the work reported on, including what you have been asked (or chosen) to do, the reasons for doing it and a brief background to the study. Also briefly introduce the company you have chosen. It should be written in an explanatory style.
Background or Context (use your own headings)
Describe the background to the subject, what is the history of reporting what are the current challenges and main themes and issues being discussed. For instance: what research has already been done. Why are you being asked to investigate it now? Remember that you need to refer to the academic literature to back up your argument. Explain how you are going to go about responding to the brief. Include a brief outline of your method of enquiry. State the limits of your research and reasons for them, for example, that you will base your discussion on a review of the corporate reporting of your company.
Findings (use your own headings)
This section has only one job which is to present the findings of your research as simply and clearly as possible. Use the format that will achieve this most effectively e.g. text, graphs, tables or diagrams.
Here you will set out the content and scope of the reporting of your chosen company.
What do they publish, how do they publish it? What other ways do they communicate their sustainability strategy? Videos? Press releases? Research?
Writing in this section should be clear, factual and informative. Save your interpretation of the results for the Discussion section.
Discussion (use your own headings)
This is probably the longest section and worth spending time on. It brings everything together. This is where you analyse the corporate reporting and critically evaluate it. You can use the GRI reporting framework to evaluate against. Or other reports from companies in the same sector. You can show how your findings contribute to a critical respond to the brief.
It should be written in a discursive style, meaning you need to discuss not only what your findings show but also provide explanations using evidence from previous research.
Conclusion
Your conclusions should be a short section with no new arguments or evidence. Sum up the main points of your research - how do they answer the original brief for the work reported on?
This section may also include recommendations for action if you feel confident enough to give them.
Solution
Introduction
This study addresses the growing importance of electric automobiles in the automotive industry through a comparison analysis between BYD Motors and Tesla. In order to give stakeholders useful information, the study intends to investigate important topics like market positioning, sustainability practices, and technology breakthroughs. University Assignment Help, The decision made by Tesla and BYD Motors is based on their respective worldwide impacts and importance in the electric vehicle industry.
Background of corporate reporting
A. Historical Context
Two major players in the international electric vehicle (EV) market have emerged: the Chinese manufacturer BYD Motors and the American pioneer Tesla. Since its founding in 2003, Tesla has been well-known for its cutting-edge electric cars and emphasis on high-performance automobiles (Masoud et al. 2023). Founded in 1995, BYD first focused on batteries before branching out into electric vehicles.
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Figure 1: The current status of BYD motors vs Tesla in 2020
(Source: fiatgroupworld, 2023)
Both businesses contributed significantly to the advancement of electric mobility. With its luxurious EVs and innovative technology, Tesla became well-known worldwide, but BYD emerged as a dominant force in China's EV market by prioritizing accessibility and a wide selection of products. The global trend towards environmentally friendly transportation is reflected in their competition.
B. Reporting's Evolution:
The evolution of reporting from conventional techniques to modern strategies
Reporting about BYD Motors and Tesla has shifted over time from antiquated techniques to contemporary tactics. Standard financial measures and quarterly reports were a major component of conventional procedures (Almagtome et al. 2020). However the paradigm has changed with the emergence of digital media and data in real time.
C. Present Issues and Overarching Themes:
Modern Reporting Difficulties
Modern reporting presents unique issues for both Tesla and BYD Motors. Due to cultural quirks and disparities in regulatory frameworks, Chinese automaker BYD struggles with issues of communication and openness.
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Figure 2: The sales graph of Tesla and BYD in 2023
(Source: investors, 2023)
By comparison, the American business Tesla struggles with high expectations and investigation, which frequently causes erratic stock movements.
Rational
Two major competitors in the electric vehicle sector were Tesla and BYD Motors. They both had to deal with issues with battery technology, broken supply chains, and changes in regulations. While Tesla continued to concentrate on producing high-performance electric vehicles and solar power, BYD placed an emphasis on affordability and expanded into other vehicle types (Zeng et al. 2019). Evaluating elements like financial stability, technical innovation, and strategies for markets are all part of rational assessments.
Finding of the reports
A. Examining the Publications of the Company
Tesla and BYD Motors are well-known producers of electric vehicles (EVs) as of January 2022. Due to their significant contributions to the EV market, both companies have received recognition.
B. Determining the Focus Areas for Sustainability
Sustainability is a priority for both Tesla and BYD Motors, but they are not the same. Chinese firm BYD focuses on energy storage technologies and electric vehicles. They are excellent at offering smart energy alternatives and environmentally friendly public transport. By contrast, the American company Tesla focuses on energy from renewable sources and electric automobiles.
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Figure 3: The line graph of Tesla and Byd Motors
(Source: Onefiniteplanet, 2023)
Tesla is a leader in renewable energy, electric vehicles, and residential storage of energy.
Communication Plan
A. Assessment of Publication Procedures
Tesla and BYD Motors have different publication protocols. Tesla, under the leadership of Elon Musk, is renowned for its open and honest communication, providing updates on products, achievements, and difficulties via both official channels and Musk's Twitter handle (Ante, 2023). Chinese company BYD Motors, on the other hand, might take a different tack due to cultural and commercial differences. Extensive comparisons necessitate the most recent data available after my previous update.
B. Determining the Main Points
The three main focuses of the BYD Motors vs. Tesla communication strategy are positioning in the marketplace, innovation, and brand distinction. BYD highlights its varied product line, which includes electric buses and rechargeable batteries, as well as its dedication to provide environmentally friendly transportation options (García et al. 2022). Tesla, on the other hand, focuses its messaging on advanced technology, self-driving capabilities, and an international network of charging stations. Both businesses want to communicate a strong sense of brand identity, client interaction, and environmental awareness.
C. Evaluating the Effectiveness
The three main focuses of the BYD Motors vs. Tesla communication strategy are positioning in the marketplace, innovation, and brand distinction. BYD highlights its varied product line, which includes electric buses and rechargeable batteries, as well as its dedication to provide environmentally friendly transportation options. Tesla, on the other hand, focuses its messaging on advanced technology, self-driving capabilities, and an international network of charging stations (Vdovic et al. 2019.
Evaluation of corporate reporting
A. Compliance with Sustainability Objectives
Both Tesla and BYD Motors aim for sustainability, but they do it in different ways. The Chinese corporation BYD has a strong emphasis on renewable energy sources, energy storage, and electric automobiles (EVs). Beyond EVs, they also focus on other environmentally friendly technologies. The American corporation Tesla is mostly focused on electric vehicles and renewable energy sources (Gil-García et al. 2021). Although they both help to lower carbon dioxide emissions, BYD's larger focus also includes infrastructure for renewable energy sources and public transport, which fits nicely with a comprehensive conservation goal.
ESG framework on sustainability
Environmental, Social, and Administration, or ESG, is a broad framework that influences the sustainability of businesses. Environmental factors evaluate how a business affects the environment, particularly its carbon emissions. Social aspects evaluate a company's treatment of its suppliers, workers, and communities. Governance assesses decision-making openness, ethics, and leadership. ESG measures are being used by investors more and more to find ethical and sustainable expenditures, balancing their financial objectives with moral considerations. By incorporating ESG principles, businesses promote long-term resilience and have a beneficial impact on society. This leads to a more sustainable and environmentally friendly global marketplace.
Triple bottom line p3 elkington 1987
John Elkington developed the Triple Bottom Line (TBL) paradigm in 1987 to highlight how environmental, social, and economic variables should all be integrated into corporate decisions. Elkington suggested that companies should be held responsible for their effects on society and the environment in addition to their financial gains—the so-called "bottom line." Profit, People, and Planet are the three categories used by the TBL to evaluate performance, which promotes a comprehensive approach to environmental sustainability. Since then, this framework has grown to be a pillar of the corporate social accountability movement, directing businesses towards a more sustainable and balanced strategy that considers the wider effects of their operations on both the environment and society.
Brundtland report of 1987
John Elkington developed the Triple Bottom Line (TBL) paradigm in 1987 to highlight how environmental, social, and economic variables should all be integrated into corporate decisions. Elkington suggested that companies should be held responsible for their effects on society and the environment in addition to their financial gains—the so-called "bottom line." Profit, People, and Planet are the three categories used by the TBL to evaluate performance, which promotes a comprehensive approach to environmental sustainability.
Results and Interpretation
A Recognised Advantages and Disadvantages
Both Tesla and BYD Motors sell electric cars (EVs), and each has pros and cons of its own. BYD is a leader in affordability, emphasising economical electric vehicle options. Tesla, on the other hand, is known for its cutting-edge technology, strong charging infrastructure, and exceptional performance.
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Figure 4: The production of Tesla and BTD motors in 2021-2022
(Source: bloomberg, 2023)
The disadvantage of BYD is its relatively short range and less sophisticated self-driving capabilities. Tesla is a leader in innovation, but its increased prices are a problem. Both businesses support the global transition towards sustainable transport by meeting a range of customer demands and making different trade-offs between price, brand awareness, and technology.
B. Compare the SDG with both the Companies
The assessment of BYD Motors and Tesla under the Global Reporting Initiative (GRI), which incorporates the Sustainable Development Goals (SDGs), shows that both businesses are dedicated to open reporting on social, administration, and environmental issues. With a focus on clean energy and creativity, Tesla's strong sustainability practices are in line with the SDGs. Concurrently, BYD Motors exhibits a commitment to conscientious business practises by tackling significant SDGs concerning climate action and clean energies. Both businesses demonstrate an admirable integration of the SDGs and GRI in their reporting, supporting accountability and environmentally friendly growth within the automotive sector.
In the meanwhile, Tesla prioritizes important sustainability measures and tends to report in a more succinct manner. Byd Motors demonstrates a strong commitment to many ESG aspects through its excellent stakeholder interaction (Jain et al. 2023).
Conclusion
To sum up, in the global automotive business, BYD Motors and Tesla both demonstrate admirable progress towards environmentalism. Although BYD Motors has shown a great dedication to green innovation and technological advancement, Tesla has established impressive standards with its electric automobiles and renewable energy programmes. Sustainability is becoming more and more important in the business world, as these companies' success demonstrates.
References
Journals
Almagtome, A.H., Al-Yasiri, A.J., Ali, R.S., Kadhim, H.L. and Heider, N.B., 2020. Circular economy initiatives through energy accounting and sustainable energy performance under integrated reporting framework. International Journal of Mathematical, Engineering and Management Sciences, 5(6), p.1032.
Ante, L., 2023. How Elon Musk's twitter activity moves cryptocurrency markets. Technological Forecasting and Social Change, 186, p.122112.
García, A., Monsalve-Serrano, J., Sari, R.L. and Tripathi, S., 2022. Life cycle CO? footprint reduction comparison of hybrid and electric buses for bus transit networks. Applied Energy, 308, p.118354.
Gil-García, I.C., García-Cascales, M.S., Dagher, H. and Molina-García, A., 2021. Electric vehicle and renewable energy sources: Motor fusion in the energy transition from a multi-indicator perspective. Sustainability, 13(6), p.3430.
Jain, Y., Gupta, S., Yalciner, S., Joglekar, Y.N., Khetan, P. and Zhang, T., 2023. Overcoming complexity in ESG investing: The role of generative AI integration in identifying contextual ESG factors. Available at SSRN.
Masoud, R.M., Mostafa, R.M., Khattab, A.A., Ahmed, A.M.H.A. and Wahib, R., 2023. Assessing the Transformative Impact of Tesla's Strategic Change Interventions and
Technology Implementation on the Electric Vehicle and Clean Energy Industries.
Vdovic, H., Babic, J. and Podobnik, V., 2019. Automotive software in connected and autonomous electric vehicles: A review. IEEE Access, 7, pp.166365-166379.
Zeng, X., Li, M., Abd El?Hady, D., Alshitari, W., Al?Bogami, A.S., Lu, J. and Amine, K., 2019. Commercialization of lithium battery technologies for electric vehicles. Advanced Energy Materials, 9(27), p.1900161.
Websites
Bloomberg, 2023, byd-has-tesla-in-its-sights-after-a-year-of-runaway-growth, Available at: https://www.bloomberg.com/news/articles/2022-12-05/byd-has-tesla-in-its-sights-after-a-year-of-runaway-growth?leadSource=uverify%20wall, [Accessed on: 30th November, 2023]
Fiatgroupworld, 2023, byd-is-the-real-protagonist-in-the-auto-industry-not-tesla, Available at: https://fiatgroupworld.com/2020/09/08/byd-is-the-real-protagonist-in-the-auto-industry-not-tesla/, [Accessed on: 30th November]
Investors, 2023, tesla-vs-byd-2023-comparing-ev-rivals-tsla-stock, Available at: https://www.investors.com/news/tesla-vs-byd-2023-comparing-ev-rivals-tsla-stock/, [Accessed on: 30th November, 2023]
Onefiniteplanet, 2023, carmaker-tracking-tesla-and-byd, Available at: https://onefiniteplanet.org/wp/battle-for-no1-carmaker-tracking-tesla-and-byd/, [Accessed on: 30th November, 2023]
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