Review of the guidelines
Global Reporting Initiative launched the fourth generation of its Sustainability Guidelines in May 2013. In this case, it formed the guidelines that supported a consistent approach to precise and reliable sustainability information through focusing on the topics that were substantial to their organisation and other key stakeholders thus making it a regular practice. However, the report contains data and global actions that include information about operations regions and five other business aspects that integrate training, space system, comprehensive solution missiles, and information on fire and mission systems for the clients. Besides, it offers environmental, economic, governance and social data for the recent five years as presented. A scrutiny of the report reveals that it relies on guidance provided by the Global Reporting Initiative (GRI), which is the world’s most widely used sustainability reporting framework accepted. Conceivably, Lockheed Martin’s report provide integrated business strategies for clientele both in the United States and other parts of the world, with an aim of distributing the products and services designed to meeting up their national stability and residents’ services demands. As noted in the article, the operation of most organisations across the world view this sustainability report and the guidelines as a significant tool for their development. In this regard, the sustainability is applied in places such as organisational workforce, which forms an integral component of many organisations. As revealed in the report, many organisations across the world act as air and missile security systems providers, the strategic missiles and air-to-ground precision smacking systems, the logistics and other mechanical services, all who need to be carried out under considerable sustainability. Furthermore, they engage in massive innovation and growth, designs and technologies of satellites, planned and protective missile systems to improve national security services. Ship and submarine missions and combat operations are also carried out by the Lockheed Martin.
A closer look at the report Lockheed Martin paper shows that a formal four-step assessment theory was used to evaluate core sustainability issues of substance to our stakeholders and our business. To improve on disclosure of related information, the opportunity was sought to be identified and feedback drawn based on the expected institutional shareholders and multiple representatives from several departments of the business model, compliance requirements and competitive positioning. Senior business leaders’ perceptions of short, medium and emerging uncertainty, as well as the World Economic Forum Global Risks Index, are further identified. Ideally, this core option with essential elements of sustainability assessment, allowed Lockheed to perceive the relations between issues that are of concern to its stakeholders and business approach, risks and available opportunities. Having a better understanding of these connections enhances more focused commitment and the distribution of resources where there is the utmost chance for sustainable development while extenuating possible risks.
The grouped key issues in the report include governance, product performance, talent competitiveness, seller sustainability, and the resource effectiveness and information safety. Lockheed Martin applied the sustainability management plan concept which involved a consistently augmented effort to improve better standards for good organisational practice, fulfilment and clearness. Besides, it applied the product performance which tried to convey best fiscal & performance over the life process of its products. Skill competitiveness, in this case, promotes a real improvement, comprehensive customs that attracts, encourage, and promote skills to outshine in the marketplace. According to Lockheed Martin, the future belongs to the people who recognize the mechanisms and strategies which are the means for thoughtful improvement in a nations with limited resources. The organisation acknowledges that the enduring value provided to their client, stakeholders and the developing nations which facilitates, environmental protection and improvement in technology, which ultimately enhances sustainable practices.
In my opinion, the Lockheed Martin’s report is a good presentation as it is aligned with the guidelines that are provided by GRI4. It presents the correct new structure of the report having included; the focus on materials topics and all important aspects. The report has identified relevant issues, identifies boundaries that determines the occurrence of impact within or outside the organisation. Besides, it has further disclosed the management approach and the indicators related to the material Aspects. The core option and comprehensive options have also been thoroughly discussed in the report making it more vivid and good report.
Recommendations
When preparing this Lockheed report, the new guidelines and layout should be followed with a lot of keenness. The report should be presented in two parts which include; reporting principles and standard disclosures. Manual for implementation, having reporting and interpretative direction that a business should seek advice from when constructing its sustainability report. The report content should centre at materials aspects by looking at relevant topics and evaluating their effects. In this manner, it should present options that depict that the report is complying with the Providence, which includes core issues and comprehensive issue. These two issues play important roles in disclosing the organisation's management strategy. On dissemination, GRI recommends that an organisation needs to seek the assistance of external assurance on its sustainability report upon which the report can be enacted this gives reporters two reporting cycles to complete their shift to G4. In this case, past adoption is allowed, and though they may be not capable of claiming compliance with them in their first reporting cycle.
