Social Responsibility and Hp Essay examples
Bilal Mohamed Moujood
Short Paper 1
Sustainable development has become a recurrent term in the modern day business community. In order to achieve a socially conscious economy, businesses have to strike a key balance between the needs of the present and the viable use of natural resources and ecosystems for future generations. “Living Progress” is the term coined by the Fortune 50 company, Hewlett Packard to report its Corporate Social Responsibility program. The Living Progress program is designed to provide a …show more content…
As one of the world’s largest multinational companies, HP has far reaching economic impacts. The second pillar in HP’s Living Progress scheme is to advance a thriving economy, where people have the skills and resources they need to contribute to society.6 The economic impacts created by HP across all stakeholders for 2014 are broad. One such example is supplier diversity, By supporting local communities and harnessing innovative and competitive advantages, HP creates a chain of expansive economic impacts.
The demands of rising levels of data, calls for viable IT solutions, and HP is proud to host the groundbreaking HP Apollo 8000 system.7 Launched in 2014, the system has recorded savings of $1million in energy costs, compared to previous versions. The Apollo 800 is a revolutionary system that relies on a liquid cooling system, unlike the other systems that use air. The impact created through this system was that excess heat was able to be transferred to use elsewhere8
Another economic impact highlighted in the report is the indirect payoff to local economies, resulting from compensation to all its 302,000 employees worldwide and they in turn pay taxes.9
HP paid net cash income taxes