Discuss about the Effect of Stakeholder Power on Voluntary Reduction Target.
Stakeholder Theory
Stakeholders are the ones, who are affected by the profit and loss of the companies and organizations. In comparison to this, the shareholders bear share in the profit and loss of the companies and organization. Stakeholder Theory proves effective in gaining a deeper insight into the contribution of the stakeholders in business operations (Depoers, Jeanjean and Jérôme 2016). The main proposition of stakeholder theory is the consciousness of the personnel towards the preservation of business ethics for managing the business activities. As a matter of specification, stakeholder theory helps the personnel to assess their contribution towards the catering to the needs, demands and requirements of the stakeholders.
Voluntary Reduction target (carbon disclosure project)
Carbon Disclosure Project is an UK based organization, which supports the companies and cities dealing with the environmental issues. The main aim of this organization is to present environmental report consisting of the risk assessment for gaining an insight into the drive disclosure. This insight helps in making an estimate regarding the achievement of sustainable growth. Climactic change is an important component of Carbon Disclosure Project (Lee, Park and Klassen 2015). Within this, carbon action initiative is aimed at supervising the approach of the companies in terms of regulating the carbon emissions. Here, special emphasis is given on reducing the carbon emission every year; disclosing the reduced emission target and investing in the projects.
Impact of stakeholder power on voluntary reduction targets
Reducing the emission of carbon is an attempt of the personnel towards catering to the health and the environmental needs of the stakeholders. Stakeholders here mean the employees, customers and the personnel. Carbon emission pollutes the environment, which aggravates the complexities of the people suffering from the health diseases like lung cancer among others. When the personnel expose careless attitude in terms of performing their duties, the stakeholders are compelled to expose their power. This carelessness contradicts the business ethics, which is one of the main dimensions of the stakeholder theory (Ott, Schiemann and Günther 2017). The following section is a conceptual model, which enhances the clarity of the readers regarding the relationship between the stakeholder power and the reducing the voluntary targets of carbon emission.
Interrelationship between the independent and the dependent variable. As a matter of specification, the diagram enhances the clarity of the readers about the contribution made by the stakeholders towards reducing the carbon emission targets. The first block represents the dependent variable, stakeholder power (Depoers, Jeanjean and Jérôme 2016). The block below it, indicates the essential components of stakeholder power- analysis through identification, prioritizing and understanding. Herein lays the appropriateness of the stakeholder theory in terms of gaining an insight into the ethical considerations behind fulfilling the needs, demands and requirements of the stakeholders.
Turning the attention to the dependent variable, carbon disclosure projects is represented through the aspect of climactic change. The last block represents the linkage between the stakeholder power and the carbon disclosure power. Identifying the stakeholders and the potential risks they are suffering from, are the main managerial tasks for catering to their needs and requirements (Lee, Park. and Klassen 2015). However, exposing an understanding approach to the stakeholders’ need relates to the moral and ethical values needed for preserving the ecological biodiversity.
H0: Stakeholder power does not have any impact on the reducing the carbon emission levels.
H1:Stakeholder power adversely affects the reduction of carbon emission levels.
Theoretical Construct |
Proxy measure |
Dependent (DV), Independent (IV), or Control Variable (CV) |
Source |
Stakeholder Theory |
Voluntary Reduction Target |
Stakeholder Power |
Government website |
Carbon Disclosure Project |
Climactic change |
National concern for climate change |
Government website |
Research Philosophy
There are mainly three types of philosophies, which are applied in a research. These are positivism, post positivism and interpretivism. Positivism philosophy means the application of scientific knowledge related to the subject matter of the research. Post positivism means assessing the implication of applying this scientific knowledge (Taylor, Bogdan and DeVault 2015). Interpretivism means interpreting new facts from the gathered and collected information. In this research, the researcher would choose positivism philosophy for gaining an insight into the scientific facts related to the impact of stakeholder power in regulating the climactic changes by reducing the carbon emission rates.
Explorative, explanatory and descriptive are the three research designs, which are applied for executing the research in an efficient and effective manner. Explorative research design helps the researcher to explore the facts related to the subject matter. Explanatory design compels the researcher to delve deep into the facts related to the research topic (Mackey and Gass 2015). In the descriptive design, the researcher needs to describe the facts in details. In this research, the researcher would select explorative research design for exploring the effect of stakeholder power on measuring climate changes through the reduction of carbon emission rates.
In a research, deductive and inductive approach gain importance. In a deductive approach, the researcher deduces relevant facts from the available and the gathered information. On the other hand, inductive approach is the induction of new facts from the information, which were available to the researcher as well as the information, which had to be collected (Flick, 2015). In this research, the researcher would choose deductive approach for deducing relevant facts related to the importance of stakeholder power on controlling climate changes through reducing the carbon emission rates.
The data needed for the research is collected mainly through the primary and secondary methods. Within this, there are subdivisions- quantitative and qualitative. In the primary qualitative, data is collected through survey and interview. On the other hand, in secondary method, data is collected from case studies, articles, journals and government websites (Smith 2015). In this research, the researcher would select the means of survey, interview, case studies, journals, and government websites for collecting data on the impact of stakeholder power on monitoring climatic changes through reducing the carbon emission rates.
Whole population of the country, bearing direct or indirect relationship with the research are the samples. However, in order to overcome the time and financial constraints, the researcher selects the samples for collecting relevant information on the subject matter. These samples are selected through either simple, random or probability basis (Panneerselvam 2014). In this research, the researcher would select 53 companies of United Kingdom for collecting data on the effect of stakeholder power in mitigating the sudden climactic change through the reduction of the carbon emission rates.
The data collected is analysed through primary and secondary methods. The subdivisions also exist in this case- quantitative and qualitative. In quantitative method, survey questionnaires are prepared for analysing the collected data. Tables, charts and graphs are developed for assessing the relationship of the responses to the facts developed by the research. On the other hand, in secondary method, relevant themes are developed for analysing the collected data (Mackey and Gass 2015). In the research, the researcher would select both the primary and secondary methods for analysing the collected data on the effect of stakeholder power on the controlling the climactic change through reducing the carbon emission rates.
Preparing action plan helps the researcher to systematize the research related activities. Along with this, action plans assist the researcher to prioritize the researcher activities, which is an agent in terms of achieving successful completion (Smith 2015). The following is an example of the action plan, which can be used in executing the research:
Activities |
Week 1 |
Week 2 |
Week 3 |
Week 4 |
Week 5 |
Week 6 |
Week 7 |
Week 8 |
Selecting the topic |
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Gathering information |
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Literature review |
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Data collection |
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Data analysis |
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Conclusion and recommendation |
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Evaluation |
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Making necessary changes |
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Final evaluation |
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Submission |
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Closure |
References and bibliography
Ben?Amar, W. and McIlkenny, P., 2015. Board effectiveness and the voluntary disclosure of climate change information. Business Strategy and the Environment, 24(8), pp.704-719.
de Faria, J.A., Andrade, J.C.S. and da Silva Gomes, S.M., 2018. The determinants mostly disclosed by companies that are members of the Carbon Disclosure Project. Mitigation and Adaptation Strategies for Global Change, pp.1-24.
Delgado-Márquez, B.L., Pedauga, L.E. and Cordón-Pozo, E., 2017. Industries Regulation and Firm Environmental Disclosure: A Stakeholders’ Perspective on the Importance of Legitimation and International Activities. Organization & Environment, 30(2), pp.103-121.
Depoers, F., Jeanjean, T. and Jérôme, T., 2016. Voluntary disclosure of greenhouse gas emissions: Contrasting the carbon disclosure project and corporate reports. Journal of Business Ethics, 134(3), pp.445-461.
Eleftheriadis, I.M. and Anagnostopoulou, E.G., 2015. Relationship between corporate climate change disclosures and firm factors. Business Strategy and the Environment, 24(8), pp.780-789.
Flick, U., 2015. Introducing research methodology: A beginner’s guide to doing a research project. Sage.
Gallego-Álvarez, I., Segura, L. and Martínez-Ferrero, J., 2015. Carbon emission reduction: the impact on the financial and operational performance of international companies. Journal of Cleaner Production, 103, pp.149-159.
Giannarakis, G., Konteos, G., Sariannidis, N. and Chaitidis, G., 2017. The relation between voluntary carbon disclosure and environmental performance: The case of S&P 500. International Journal of Law and Management, 59(6), pp.784-803.
Grauel, J. and Gotthardt, D., 2016. The relevance of national contexts for carbon disclosure decisions of stock-listed companies: a multilevel analysis. Journal of Cleaner Production, 133, pp.1204-1217.
Guenther, E., Guenther, T., Schiemann, F. and Weber, G., 2016. Stakeholder relevance for reporting: explanatory factors of carbon disclosure. Business & Society, 55(3), pp.361-397.
Haque, S., Deegan, C. and Inglis, R., 2016. Demand for, and impediments to, the disclosure of information about climate change-related corporate governance practices. Accounting and Business Research, 46(6), pp.620-664.
Herold, D.M. and Lee, K.H., 2018. Carbon Disclosure Strategies in the Global Logistics Industry: Similarities and Differences in Carbon Measurement and Reporting. In Pathways to a Sustainable Economy (pp. 87-101). Springer, Cham.
Lee, S.Y., Park, Y.S. and Klassen, R.D., 2015. Market responses to firms’ voluntary climate change information disclosure and carbon communication. Corporate Social Responsibility and Environmental Management, 22(1), pp.1-12.
Liesen, A., Figge, F., Hoepner, A. and Patten, D.M., 2017. Climate change and asset prices: are corporate carbon disclosure and performance priced appropriately?. Journal of Business Finance & Accounting, 44(1-2), pp.35-62.
Luo, L.L. and Tang, Q., 2015. Does national culture influence corporate carbon disclosure propensity?. Journal of International Accounting Research, 15(1), pp.17-47.
Mackey, A. and Gass, S.M., 2015. Second language research: Methodology and design. Routledge.
Ott, C., Schiemann, F. and Günther, T., 2017. Disentangling the determinants of the response and the publication decisions: The case of the Carbon Disclosure Project. Journal of Accounting and Public Policy, 36(1), pp.14-33.
Panneerselvam, R., 2014. Research methodology. PHI Learning Pvt. Ltd..
Smith, J.A. ed., 2015. Qualitative psychology: A practical guide to research methods. Sage.
Taylor, S.J., Bogdan, R. and DeVault, M., 2015. Introduction to qualitative research methods: A guidebook and resource. John Wiley & Sons.
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