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1. Identify the problemThis essay focuses on the JB Hi-Fi Limited, an Australian retail company and their financialperformance in the Australian market, the key capitals of the company business model basedon the IIRC’ framework. Thereby, the essay points out the most important capital within JBHi-Fi's business model. It focuses on presenting all the key measures for the companycapitals as both inputs and outputs of JB Hi-Fi's business model based on the IIRC’s businessmodel framework. This essay also focuses on identifying and providing reasons for selectingthree core capitals that are the most "material" to JB Hi-Fi's business model and showing howthe capital increases or decreases, whether the increase or decrease is beneficial (Strengths) ordetrimental (Weaknesses) to value creation. The definition of material is clarified in the IFRSPractice Statement 2, which outlined that materiality will case the negative consequences tostakeholders when information is omitted in the financial reporting (The InternationalIntegrated Reporting Council (IIRC), 2016).The six capitals of JB Hi-fi company business model based on the IIRC’ framework that are presented in this essay include financial, manufactured, intellectual, human, natural, social relationship capital (The International Integrated Reporting Council (IIRC), 2013b, pp. 11-12).2. Determine relevant information2.1. IIRC’s business model framework An association's plan of action is its arrangement of improving contributions, through itsbusiness exercises, into yields and results that mean to satisfy the association's key capacitiesand make cost over the short, medium and future. This definition could at first look seemsterile, anyway a developing scope of precedents exhibit anyway it's becoming acclimated tominimally impart those capitals (or assets) that the association pulls in on as contributions toits business exercises, and the manner in which these square measure conceived again toyields (items, administrations, side-effects, and waste), that at last outcome in resultsregarding consequences for the capitals and partners (The International Integrated ReportingCouncil (IIRC), 2013b).Providing details regarding associate in business element's plan of action is key to associatein business speculators comprehension of the element and its methodology, administration,execution and prospects. Incorporated inclusion first serves to support the learning qualityprepared to capital providers, in order to induce a more straightforward designation of capital(Dumay, Bernardi, Guthrie, & Demartini, 2016, p. 167). In this manner, the last wordobjective is to deliver clients with understanding on the intensity of the business to adjust to
changes, for example, inside the availability, quality, and moderateness of data sources, andthe manner in which these progressions will affect the associations more drawn out termpracticality (The International Integrated Reporting Council, 2018). The (IR) Framework