Sustainable Enterprise Assignment PDF
VerifiedAdded on 2021/05/30
|14
|4275
|255
AI Summary
Contribute Materials
Your contribution can guide someone’s learning journey. Share your
documents today.
RUNNING HEAD: Sustainable Enterprise
Sustainable Enterprise
Sustainable Enterprise
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
Sustainable Enterprise 1
Contents
Introduction......................................................................................................................................2
Bank Australia- The Overview........................................................................................................4
Sustainability Dimensions...............................................................................................................5
Socio- cultural Dimension as the specific Sustainability Area........................................................7
List and Assessment of Indicators for Monitoring..........................................................................7
Conclusion.....................................................................................................................................10
References......................................................................................................................................11
Contents
Introduction......................................................................................................................................2
Bank Australia- The Overview........................................................................................................4
Sustainability Dimensions...............................................................................................................5
Socio- cultural Dimension as the specific Sustainability Area........................................................7
List and Assessment of Indicators for Monitoring..........................................................................7
Conclusion.....................................................................................................................................10
References......................................................................................................................................11
Sustainable Enterprise 2
Introduction
A sustainable enterprise is a business which undertakes processes that results in negligible
negative impact on the society, economy, community and global environment. In other words,
the business that struggles for meeting the triple bottom line is known as a sustainable business.
Moreover, active participation is shown by a sustainable enterprise in environment friendly
activities for the purpose of ensuring that the processes, products and manufacturing activities
undertaken adequately address the existing environmental concerns along with maintaining
sufficient profits (Felic, Herrmann, Hogrefe, Klein & Konig-Ries, 2015).
The use of monitoring systems is made for measuring and monitoring the sustainability of
business at regular intervals for the purpose of bringing effectiveness in the business operations.
Proper monitoring system assists in effectively reducing the risks associated with business as it
facilitates decision making at the correct timing. A good monitoring system also fosters the
growth of an organization and provides a number of measures for reducing the losses incurred.
The monitoring systems require to be updated from time to time for providing the foundation of
future performance targets. The monitoring system is maintained by the high level managers in
the workplace who are supposed to possess special skills for its maintenance. The different
aspects of the monitoring system represents various dimensions of an organization namely-
socio- cultural, economic and environmental dimension. Such dimensions can be measured with
the help of effective indicators. In other words, Business is also responsible towards the people,
economic activities and environment (Rahdari & Rostamy, 2015).
The sustainability indicators assist in the creation of understanding towards the current path
adopted by business, current position, and difference between current and target position
(Mascarenhas, Nunes & Ramos, 2015). The indicator also performs the function of providing
alerts to the business before worst circumstances are created by any problem along with
recognizing measures for fixing the problem. Sustainability indicators also assist in pointing out
the weak points between economy, society and environment. Indicators are of two types i.e.
traditional indicators and modern indicators. Asthma rates, water quality and shareholder profits
are the traditional indicators that are utilized for the quantification of variations in the parts of the
community supposing that such parts are not reliant on other parts (McIntosh, 2017). On the
Introduction
A sustainable enterprise is a business which undertakes processes that results in negligible
negative impact on the society, economy, community and global environment. In other words,
the business that struggles for meeting the triple bottom line is known as a sustainable business.
Moreover, active participation is shown by a sustainable enterprise in environment friendly
activities for the purpose of ensuring that the processes, products and manufacturing activities
undertaken adequately address the existing environmental concerns along with maintaining
sufficient profits (Felic, Herrmann, Hogrefe, Klein & Konig-Ries, 2015).
The use of monitoring systems is made for measuring and monitoring the sustainability of
business at regular intervals for the purpose of bringing effectiveness in the business operations.
Proper monitoring system assists in effectively reducing the risks associated with business as it
facilitates decision making at the correct timing. A good monitoring system also fosters the
growth of an organization and provides a number of measures for reducing the losses incurred.
The monitoring systems require to be updated from time to time for providing the foundation of
future performance targets. The monitoring system is maintained by the high level managers in
the workplace who are supposed to possess special skills for its maintenance. The different
aspects of the monitoring system represents various dimensions of an organization namely-
socio- cultural, economic and environmental dimension. Such dimensions can be measured with
the help of effective indicators. In other words, Business is also responsible towards the people,
economic activities and environment (Rahdari & Rostamy, 2015).
The sustainability indicators assist in the creation of understanding towards the current path
adopted by business, current position, and difference between current and target position
(Mascarenhas, Nunes & Ramos, 2015). The indicator also performs the function of providing
alerts to the business before worst circumstances are created by any problem along with
recognizing measures for fixing the problem. Sustainability indicators also assist in pointing out
the weak points between economy, society and environment. Indicators are of two types i.e.
traditional indicators and modern indicators. Asthma rates, water quality and shareholder profits
are the traditional indicators that are utilized for the quantification of variations in the parts of the
community supposing that such parts are not reliant on other parts (McIntosh, 2017). On the
Sustainable Enterprise 3
other hand, modern indicators of sustainability represents that the segments i.e. social, economic
and environment are interconnected.
Figure 1 Economy, Society and Environment: A Nested Relationship
(Source: Environmental Protection Agency, 2017)
The figure depicts that there is a nested relationship between society, economy and environment.
The environment provides the raw material to the businesses which in turn provides employment
opportunities to a number of individuals and becomes a source of profit for the stakeholders.
Moreover, the productivity of the employees is affected due to health problems, air quality and
toxic materials in the environment which increases their health insurance costs. Therefore, links
among the economy, society and environment are presented by the multidimensional indicators
in the form of integrated view of the world (Abdul-Ali, Davis, Twomey, & Knowles, 2017).
These indicators are important because it helps in easily resolving the issues being faced. It also
assists the business in gaining knowledge about the system efficiency and provides guidance for
overcoming the present problems. It also allows an organization to constantly focus on the key
issues and hinders from deviating from its path. Effective indicators perform the function of
providing knowledge about the system and have different features from other indicators. The
information provided by effective indicators is reliable and can even be easily understood by a
person who is not expert in the field (Chofreh, Goni & Klemes, 2018).
The focus of this report is on the three important dimensions of a sustainable enterprise ‘Bank
Australia’ namely socio- cultural, economic and environmental along with the brief overview of
the enterprise, sustainability indicators applicable to the enterprise and the list of indicators
which can help to monitor environmental dimension.
other hand, modern indicators of sustainability represents that the segments i.e. social, economic
and environment are interconnected.
Figure 1 Economy, Society and Environment: A Nested Relationship
(Source: Environmental Protection Agency, 2017)
The figure depicts that there is a nested relationship between society, economy and environment.
The environment provides the raw material to the businesses which in turn provides employment
opportunities to a number of individuals and becomes a source of profit for the stakeholders.
Moreover, the productivity of the employees is affected due to health problems, air quality and
toxic materials in the environment which increases their health insurance costs. Therefore, links
among the economy, society and environment are presented by the multidimensional indicators
in the form of integrated view of the world (Abdul-Ali, Davis, Twomey, & Knowles, 2017).
These indicators are important because it helps in easily resolving the issues being faced. It also
assists the business in gaining knowledge about the system efficiency and provides guidance for
overcoming the present problems. It also allows an organization to constantly focus on the key
issues and hinders from deviating from its path. Effective indicators perform the function of
providing knowledge about the system and have different features from other indicators. The
information provided by effective indicators is reliable and can even be easily understood by a
person who is not expert in the field (Chofreh, Goni & Klemes, 2018).
The focus of this report is on the three important dimensions of a sustainable enterprise ‘Bank
Australia’ namely socio- cultural, economic and environmental along with the brief overview of
the enterprise, sustainability indicators applicable to the enterprise and the list of indicators
which can help to monitor environmental dimension.
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
Sustainable Enterprise 4
Bank Australia- The Overview
Bank Australia is an Australian financial co- operative based in Kew, Victoria. Earlier, Bank
Australia was known as Members and Education Credit Union (mecu) and later as bankmecu.
Bank Australia has gained reputation for being a customer owned responsible bank which
operates for the creation of mutual prosperity for their customers, planet and within the
community in which they perform their day to day operations. The bank has an outstanding
history of 60 years as it is the most preferred bank for the customers since 1957.
Bank Australia provides a number of facilities to its customers in the form of online and phone
banking. Various branches and more than 3,000 ATMs of Bank Australia are situated in different
parts of Australia. More than 1,24,000 customers along with a number of community sector
organizations prefer to conduct their banking activities with Bank Australia (Bank Australia,
2018).
For the purpose of positioning itself as the bank for the future, bankmecu changed its name to
Bank Australia on September 1, 2011. It was due to the reason that the name bankmecu was
quite confusing and did not appeal to people. Therefore, the name was changed in order to attract
the younger generation in assisting their customer owned bank. Bank Australia offers their
services to a number of community groups, NGOs and charitable funds. The bank is also
involved in making contribution towards people, planet and prosperity by way of investing 4%
of its after tax profits into Bank Australia Impact Fund. Such fund provides the requisite funding
for the projects that have a quantifiable impact on those three dimensions. Customers are taken
into consideration for the purpose of identifying the areas where priority funding is required.
This is done for ensuring that profits are invested in the areas that are linked with the values and
concerns of the customers. The existing priority areas of the customers of Bank Australia include
environmental sustainability, gender equality, disability, social enterprise, educational
disadvantage and reconciliation (Agol, Latawiec & Strassburg, 2014).
Bank Australia engages in a number of social activities. It has entered into partnership with
CSIRO such that the indigenous students can have access to scientific education. It also provides
scientific calculators to the students who cannot afford it on their own with the help of State
Schools Relief funding. It also invests in partnerships for supporting the projects that are
targeted towards educational disadvantage and the development of educational professionals.
Bank Australia- The Overview
Bank Australia is an Australian financial co- operative based in Kew, Victoria. Earlier, Bank
Australia was known as Members and Education Credit Union (mecu) and later as bankmecu.
Bank Australia has gained reputation for being a customer owned responsible bank which
operates for the creation of mutual prosperity for their customers, planet and within the
community in which they perform their day to day operations. The bank has an outstanding
history of 60 years as it is the most preferred bank for the customers since 1957.
Bank Australia provides a number of facilities to its customers in the form of online and phone
banking. Various branches and more than 3,000 ATMs of Bank Australia are situated in different
parts of Australia. More than 1,24,000 customers along with a number of community sector
organizations prefer to conduct their banking activities with Bank Australia (Bank Australia,
2018).
For the purpose of positioning itself as the bank for the future, bankmecu changed its name to
Bank Australia on September 1, 2011. It was due to the reason that the name bankmecu was
quite confusing and did not appeal to people. Therefore, the name was changed in order to attract
the younger generation in assisting their customer owned bank. Bank Australia offers their
services to a number of community groups, NGOs and charitable funds. The bank is also
involved in making contribution towards people, planet and prosperity by way of investing 4%
of its after tax profits into Bank Australia Impact Fund. Such fund provides the requisite funding
for the projects that have a quantifiable impact on those three dimensions. Customers are taken
into consideration for the purpose of identifying the areas where priority funding is required.
This is done for ensuring that profits are invested in the areas that are linked with the values and
concerns of the customers. The existing priority areas of the customers of Bank Australia include
environmental sustainability, gender equality, disability, social enterprise, educational
disadvantage and reconciliation (Agol, Latawiec & Strassburg, 2014).
Bank Australia engages in a number of social activities. It has entered into partnership with
CSIRO such that the indigenous students can have access to scientific education. It also provides
scientific calculators to the students who cannot afford it on their own with the help of State
Schools Relief funding. It also invests in partnerships for supporting the projects that are
targeted towards educational disadvantage and the development of educational professionals.
Sustainable Enterprise 5
The Impact Fund of Bank Australia also supports the community projects that are run by their
customers. Recently, Bank Australia has funded nearly 13 different projects, out of which three
mainly focused on the education sector. The basic aim of Bank Australia behind funding these
projects was to offer varying opportunities to the school student which may range from gaining
of work experience to expansion of knowledge in different subjects.
Sustainability Dimensions
The three key areas of the triple bottom line (people, planet and profit) are captured by the
sustainability dimensions namely socio- cultural, economic and environmental dimensions (Fink
& Andriate, 2017). The sustainability dimensions depict the importance of sustainability by
defining how the activities of a business impact the entire world.
The definition of the socio- cultural dimension of sustainability provides that it is the ability of
an organization to assure welfare of the society in terms of education, security and health by way
of distributing it equally among gender and social classes. The social dimension of sustainability
includes factors such as safety, satisfaction and health of employees, impact on local community
and the customers (Larner, Cheverst, MacDonald, Hoile & Soutar, 2017). Therefore, it can be
concluded that an organization’s social impact can be easily measured as compared to the
measurement of environmental and economic impacts.
The range of social dimension applicable to Bank Australia includes the creation of positive
social outcomes for the community, staff and customers. For this purpose, Bank Australia
undertakes a number of initiatives. It offers employment opportunities to regional communities
by committing that the jobs will not be offshored. It also aims to fulfill its obligations by
ensuring that safe, sure and affordable housing its offered to people by making investments in
community housing (Hak, Janouskova & Moldan, 2016). Social issues having importance for the
customers are also addressed by Bank Australia by undertaking wide range of initiatives through
the Bank Australia Impact Fund. It has also signed a Reconciliation Action Plan for the purpose
contributing towards minimizing the gaps between Australians and First Peoples.
The economic dimension of sustainability takes into consideration the impact of the organization
on the stakeholder’s economic circumstances. This dimension, therefore, focuses on improving
the economic status of the stakeholders rather than concentrating on the company’s economic
The Impact Fund of Bank Australia also supports the community projects that are run by their
customers. Recently, Bank Australia has funded nearly 13 different projects, out of which three
mainly focused on the education sector. The basic aim of Bank Australia behind funding these
projects was to offer varying opportunities to the school student which may range from gaining
of work experience to expansion of knowledge in different subjects.
Sustainability Dimensions
The three key areas of the triple bottom line (people, planet and profit) are captured by the
sustainability dimensions namely socio- cultural, economic and environmental dimensions (Fink
& Andriate, 2017). The sustainability dimensions depict the importance of sustainability by
defining how the activities of a business impact the entire world.
The definition of the socio- cultural dimension of sustainability provides that it is the ability of
an organization to assure welfare of the society in terms of education, security and health by way
of distributing it equally among gender and social classes. The social dimension of sustainability
includes factors such as safety, satisfaction and health of employees, impact on local community
and the customers (Larner, Cheverst, MacDonald, Hoile & Soutar, 2017). Therefore, it can be
concluded that an organization’s social impact can be easily measured as compared to the
measurement of environmental and economic impacts.
The range of social dimension applicable to Bank Australia includes the creation of positive
social outcomes for the community, staff and customers. For this purpose, Bank Australia
undertakes a number of initiatives. It offers employment opportunities to regional communities
by committing that the jobs will not be offshored. It also aims to fulfill its obligations by
ensuring that safe, sure and affordable housing its offered to people by making investments in
community housing (Hak, Janouskova & Moldan, 2016). Social issues having importance for the
customers are also addressed by Bank Australia by undertaking wide range of initiatives through
the Bank Australia Impact Fund. It has also signed a Reconciliation Action Plan for the purpose
contributing towards minimizing the gaps between Australians and First Peoples.
The economic dimension of sustainability takes into consideration the impact of the organization
on the stakeholder’s economic circumstances. This dimension, therefore, focuses on improving
the economic status of the stakeholders rather than concentrating on the company’s economic
Sustainable Enterprise 6
status (Edgeman, Neely & Eskildsen, 2016). The major stakeholder of Bank Australia is its
customers since it is a customer owned bank. Its main purpose is to create prosperity for their
customers. It invests money in a responsible manner for creating mutual prosperity.
The range of economic dimension of sustainability applicable to Bank Australia includes
assisting people in achieving their financial goals by way of incorporating programs linked with
financing and lending. It aims to promote financial inclusion of people who are not capable of
gaining access to mainstream banking activities (Morse, McNamara & Okwoli, 2017). Bank
Australia considers its customers as the owners of the bank and therefore returns profits to them
in the form of better rates and fair fees. It has created a customer owned model which is based on
the benefits of its customers with respect to banking services that they conduct with the bank.
The bank makes every possible effort for complying with the model. It invests the customer’s
money responsibly for the purposes that are considered to be ethical, responsible and beneficial
for the community or the environment. It is done according to Responsible Lending and
Investment Policy.
The environmental dimension of sustainability considers the aim of fulfilling the requirements of
present generations in a manner such that the needs of future generations are not compromised.
This dimension focuses on the impact of organizational activities on the environment (Marans,
2015). The range of environmental dimension of sustainability applicable to Bank Australia
include the protection of environment and creation of a heathier planet through the use of a
progressive approach that builds a strong, fair nation and a healthy planet. (Selomane, Reyers,
Biggs, Tallis & Polasky, 2015)
For achieving this, Bank Australia invested in the first environmental project of the world which
was named Bank Australia Conservation Reserve. Such reserve is mutually owned by the
customers of the bank. It also promises that it will not grant any loan to the fossil fuel industry
along with projects that are linked with coal seam gas (Huang, 2018). It also offsets the
environmental impacts caused by the home constructions that are financed by them through the
use of Conservation Reserve. It has become the first bank of the world that has signed seven
climate commitments under We Mean Business which is a climate leadership platform. From the
year 2011, it has decided to stay carbon neutral and ensures that the building of their banks and
status (Edgeman, Neely & Eskildsen, 2016). The major stakeholder of Bank Australia is its
customers since it is a customer owned bank. Its main purpose is to create prosperity for their
customers. It invests money in a responsible manner for creating mutual prosperity.
The range of economic dimension of sustainability applicable to Bank Australia includes
assisting people in achieving their financial goals by way of incorporating programs linked with
financing and lending. It aims to promote financial inclusion of people who are not capable of
gaining access to mainstream banking activities (Morse, McNamara & Okwoli, 2017). Bank
Australia considers its customers as the owners of the bank and therefore returns profits to them
in the form of better rates and fair fees. It has created a customer owned model which is based on
the benefits of its customers with respect to banking services that they conduct with the bank.
The bank makes every possible effort for complying with the model. It invests the customer’s
money responsibly for the purposes that are considered to be ethical, responsible and beneficial
for the community or the environment. It is done according to Responsible Lending and
Investment Policy.
The environmental dimension of sustainability considers the aim of fulfilling the requirements of
present generations in a manner such that the needs of future generations are not compromised.
This dimension focuses on the impact of organizational activities on the environment (Marans,
2015). The range of environmental dimension of sustainability applicable to Bank Australia
include the protection of environment and creation of a heathier planet through the use of a
progressive approach that builds a strong, fair nation and a healthy planet. (Selomane, Reyers,
Biggs, Tallis & Polasky, 2015)
For achieving this, Bank Australia invested in the first environmental project of the world which
was named Bank Australia Conservation Reserve. Such reserve is mutually owned by the
customers of the bank. It also promises that it will not grant any loan to the fossil fuel industry
along with projects that are linked with coal seam gas (Huang, 2018). It also offsets the
environmental impacts caused by the home constructions that are financed by them through the
use of Conservation Reserve. It has become the first bank of the world that has signed seven
climate commitments under We Mean Business which is a climate leadership platform. From the
year 2011, it has decided to stay carbon neutral and ensures that the building of their banks and
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
Sustainable Enterprise 7
the activities of their staff does not negatively impact the environment. An environmental policy
guides the bank in this work.
A value based system forms the basis of the business activities of Bank Australia. Such system
fixes its prime focus on the economic, social and environmental responsibility. Moreover, Bank
Australia undertakes a number of initiatives for the purpose of facilitating building capacity
within the community through social programs. Programs like Community Investment Program
aims at providing the positive impact of the business to the community. This is done by way of
prioritizing the areas which are concerned with the business of the company, workforces,
products and services and members.
Furthermore, it has become a signatory to United Nations Environmental Programme through
which it has committed for the positive interaction between economic and social development
and environmental protection by way of evolving a sustainability strategy. Such sustainability
strategy takes the form of a Sustainability Covenant which emphasizes on key areas namely
social impact, ethics and governance, leaderships and partnerships, employees and
environmental impact (Ghinea, Campean & Gavrilescu, 2017).
Socio- cultural Dimension as the specific Sustainability Area
The specific sustainability dimension selected for Bank Australia is the socio- cultural
dimension. This dimension is selected because Bank Australia considers itself as a customer
owned bank. It works for their customers by taking full responsibility of the activities undertaken
by them. Moreover, they care for their customers, provide them outstanding services and
competitive prices and ultimately create mutual prosperity (Banos-Gonzalez, Martinez-
Fernandez & Esteve-Selma, 2015).
List and Assessment of Indicators for Monitoring
The main purpose behind the working of Bank Australia is for creating positive social outcomes
for individuals which includes the community, customers and the staff which play an important
role in their business operations. This dimension can be easily monitored by a list of indicators
(Lipsky, Friend, Abdul-Ali & Russell, 2017)). Therefore, some indicators have been developed
which can help Bank Australia in monitoring the socio- cultural dimension of sustainability.
the activities of their staff does not negatively impact the environment. An environmental policy
guides the bank in this work.
A value based system forms the basis of the business activities of Bank Australia. Such system
fixes its prime focus on the economic, social and environmental responsibility. Moreover, Bank
Australia undertakes a number of initiatives for the purpose of facilitating building capacity
within the community through social programs. Programs like Community Investment Program
aims at providing the positive impact of the business to the community. This is done by way of
prioritizing the areas which are concerned with the business of the company, workforces,
products and services and members.
Furthermore, it has become a signatory to United Nations Environmental Programme through
which it has committed for the positive interaction between economic and social development
and environmental protection by way of evolving a sustainability strategy. Such sustainability
strategy takes the form of a Sustainability Covenant which emphasizes on key areas namely
social impact, ethics and governance, leaderships and partnerships, employees and
environmental impact (Ghinea, Campean & Gavrilescu, 2017).
Socio- cultural Dimension as the specific Sustainability Area
The specific sustainability dimension selected for Bank Australia is the socio- cultural
dimension. This dimension is selected because Bank Australia considers itself as a customer
owned bank. It works for their customers by taking full responsibility of the activities undertaken
by them. Moreover, they care for their customers, provide them outstanding services and
competitive prices and ultimately create mutual prosperity (Banos-Gonzalez, Martinez-
Fernandez & Esteve-Selma, 2015).
List and Assessment of Indicators for Monitoring
The main purpose behind the working of Bank Australia is for creating positive social outcomes
for individuals which includes the community, customers and the staff which play an important
role in their business operations. This dimension can be easily monitored by a list of indicators
(Lipsky, Friend, Abdul-Ali & Russell, 2017)). Therefore, some indicators have been developed
which can help Bank Australia in monitoring the socio- cultural dimension of sustainability.
Sustainable Enterprise 8
The indicators include human rights, employment, education and health and safety.
Human Rights- Human rights can be defined as the rights which are equally available to all
human beings regardless of their national origin, color, socioeconomic stratum, sexual
orientation, language, etc. Bank Australia can measure equality of human rights by ensuring
diversity in the workplace. It should monitor that marriage equality is also supported in the
organization by way of supporting equal opportunities and rights for all the people.
The challenges in this indicator include encounter with waging humiliation battles from
individuals of the community and from other employees in the bank. Employees and customer
belonging to different sexual orientation sometimes hesitate in coming forwards which may
create difficulty in ensuring equality in human rights. This in turn creates complexes in
measuring the improvement.
Employment- The term employment can be defined as the contract that take place between two
parties which results in creating a relationship between them. Such relationship requires payment
to be made by the organization for the work done by employee (Keynes, 2016). Migration of
people is considered to be the central problem in Australia. People migrate from other countries
in order to get a favorable job. This indicator can be effectively measured by Bank Australia by
considering the unemployment and existing job structures.
Some steps are currently being taken by Bank Australia for monitoring this indicator. The Bank
has been committed to be an inclusive employer so that employment can be kept in Australia. It
periodically measures the unemployment rates and keeps into view the job structure of the
region.
The challenges in the measurement of this dimension include high degree of migration in
Australia. Also, there are a number of social problems which negatively impact the future growth
opportunities for the workers (Strezov, Evans & Evans, 2017).
Education- The term education can be defined as the process with the help of which general
knowledge is acquired by an individual along with developing the powers that support reasoning
and judgement (Ary, Jacobs, Irvine & Walker, 2018). Such powers and knowledge prepares the
individual for leading a mature life. Bank Australia can effectively measure this indicator by
The indicators include human rights, employment, education and health and safety.
Human Rights- Human rights can be defined as the rights which are equally available to all
human beings regardless of their national origin, color, socioeconomic stratum, sexual
orientation, language, etc. Bank Australia can measure equality of human rights by ensuring
diversity in the workplace. It should monitor that marriage equality is also supported in the
organization by way of supporting equal opportunities and rights for all the people.
The challenges in this indicator include encounter with waging humiliation battles from
individuals of the community and from other employees in the bank. Employees and customer
belonging to different sexual orientation sometimes hesitate in coming forwards which may
create difficulty in ensuring equality in human rights. This in turn creates complexes in
measuring the improvement.
Employment- The term employment can be defined as the contract that take place between two
parties which results in creating a relationship between them. Such relationship requires payment
to be made by the organization for the work done by employee (Keynes, 2016). Migration of
people is considered to be the central problem in Australia. People migrate from other countries
in order to get a favorable job. This indicator can be effectively measured by Bank Australia by
considering the unemployment and existing job structures.
Some steps are currently being taken by Bank Australia for monitoring this indicator. The Bank
has been committed to be an inclusive employer so that employment can be kept in Australia. It
periodically measures the unemployment rates and keeps into view the job structure of the
region.
The challenges in the measurement of this dimension include high degree of migration in
Australia. Also, there are a number of social problems which negatively impact the future growth
opportunities for the workers (Strezov, Evans & Evans, 2017).
Education- The term education can be defined as the process with the help of which general
knowledge is acquired by an individual along with developing the powers that support reasoning
and judgement (Ary, Jacobs, Irvine & Walker, 2018). Such powers and knowledge prepares the
individual for leading a mature life. Bank Australia can effectively measure this indicator by
Sustainable Enterprise 9
monitoring the education levels and research and development within the region. It also takes
into account some programs for the educational development of indigenous people. The
challenges in the measurement of this indicator include registration of students but taking
classes. Students show lack of interest and resistance in learning science.
Health and Safety- The term health and safety can be defined as the well- being of an individual
in terms of physical, social and mental aspects (Walker, 2015). It also includes safety of an
individual from risk, dangers and injuries. This indicator can be effectively measured by way of
monitoring the premature deaths and life expectancy rates. Bank Australia is undertaking certain
activities for measuring this indicator. It has developed a Reconciliation Action Plan for the
purpose of outlining the actions for reducing the gaps in the life expectancies of First Peoples of
Australia and other Australians.
The challenges faced in the monitoring of this indicator include the inequalities in access to the
important health care services to Torres Strait Islanders and Aboriginal people. Slow progress
rates of life expectancies also make it difficult to meet the target of effective measurement.
Indicator name Definition Measurement Challenge
Human Rights Human rights can be
defined as the rights
which are equally
available to all human
beings regardless of
their national origin,
colour, socioeconomic
stratum, etc.
By ensuring
diversity in
workplace.
Encounter with
waging humiliation
battles from
individuals of the
community and
from other
employees in the
bank
Employment Employment can be
defined as the contract
that take place
between two parties
which results in
creating a relationship
By considering the
unemployment and
existing job
structures.
High degree of
migration and social
problems in
Australia
monitoring the education levels and research and development within the region. It also takes
into account some programs for the educational development of indigenous people. The
challenges in the measurement of this indicator include registration of students but taking
classes. Students show lack of interest and resistance in learning science.
Health and Safety- The term health and safety can be defined as the well- being of an individual
in terms of physical, social and mental aspects (Walker, 2015). It also includes safety of an
individual from risk, dangers and injuries. This indicator can be effectively measured by way of
monitoring the premature deaths and life expectancy rates. Bank Australia is undertaking certain
activities for measuring this indicator. It has developed a Reconciliation Action Plan for the
purpose of outlining the actions for reducing the gaps in the life expectancies of First Peoples of
Australia and other Australians.
The challenges faced in the monitoring of this indicator include the inequalities in access to the
important health care services to Torres Strait Islanders and Aboriginal people. Slow progress
rates of life expectancies also make it difficult to meet the target of effective measurement.
Indicator name Definition Measurement Challenge
Human Rights Human rights can be
defined as the rights
which are equally
available to all human
beings regardless of
their national origin,
colour, socioeconomic
stratum, etc.
By ensuring
diversity in
workplace.
Encounter with
waging humiliation
battles from
individuals of the
community and
from other
employees in the
bank
Employment Employment can be
defined as the contract
that take place
between two parties
which results in
creating a relationship
By considering the
unemployment and
existing job
structures.
High degree of
migration and social
problems in
Australia
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
Sustainable Enterprise 10
between them
Education Education can be
defined as the process
with the help of which
general knowledge is
acquired by an
individual along with
developing the powers
that support reasoning
and judgement.
By monitoring the
education levels and
research and
development within
the region
Students show lack
of interest and
resistance in
learning science.
Health and Safety Health and safety can
be defined as the well-
being of an individual
in terms of physical,
social and mental
aspects
By monitoring the
premature deaths
and life expectancy
rates.
Inequalities in
access to the
important health
care services to
Torres Strait
Islanders and
Aboriginal people
Conclusion
Therefore, it can be concluded that sustainability plays an important role in the operations of an
enterprise. This reports focuses on the three dimensions o sustainability namely socio- cultural,
economic and environmental dimension in the context of Bank Australia. Moreover, this report
discusses socio- cultural dimension as the specific sustainability area and developed a list of
indicators for the monitoring of this dimension. The indicators include human rights,
employment, education and health and safety. However, some challenges are faced in the
monitoring of these indicators.
between them
Education Education can be
defined as the process
with the help of which
general knowledge is
acquired by an
individual along with
developing the powers
that support reasoning
and judgement.
By monitoring the
education levels and
research and
development within
the region
Students show lack
of interest and
resistance in
learning science.
Health and Safety Health and safety can
be defined as the well-
being of an individual
in terms of physical,
social and mental
aspects
By monitoring the
premature deaths
and life expectancy
rates.
Inequalities in
access to the
important health
care services to
Torres Strait
Islanders and
Aboriginal people
Conclusion
Therefore, it can be concluded that sustainability plays an important role in the operations of an
enterprise. This reports focuses on the three dimensions o sustainability namely socio- cultural,
economic and environmental dimension in the context of Bank Australia. Moreover, this report
discusses socio- cultural dimension as the specific sustainability area and developed a list of
indicators for the monitoring of this dimension. The indicators include human rights,
employment, education and health and safety. However, some challenges are faced in the
monitoring of these indicators.
Sustainable Enterprise 11
References
Abdul-Ali, S., Davis, K. J., Twomey, D. F., & Knowles, R. N. (2017). Leadership for a
sustainable enterprise. In The Sustainable Enterprise Fieldbook (pp. 38-69). Routledge.
Agol, D., Latawiec, A. E., & Strassburg, B. B. (2014). Evaluating impacts of development and
conservation projects using sustainability indicators: Opportunities and
challenges. Environmental Impact Assessment Review, 48, 1-9.
Ary, D., Jacobs, L. C., Irvine, C. K. S., & Walker, D. (2018). Introduction to research in
education. Cengage Learning.
Bank Australia. (2018). Who are you?. Retrieved January 20, 2018 from
https://bankaust.com.au/support/faqs/about-us/who-are-we/
Banos-González, I., Martínez-Fernández, J., & Esteve-Selma, M. Á. (2015). Dynamic
integration of sustainability indicators in insular socio-ecological systems. Ecological
Modelling, 306, 130-144.
Chofreh, A. G., Goni, F. A., & Klemeš, J. J. (2018). Development of a Framework for
Sustainable Enterprise Resource Planning Systems Implementation. Journal of Cleaner
Production.
Edgeman, R., Neely, A., & Eskildsen, J. (2016). Paths to sustainable enterprise
excellence. Journal of Modelling in Management, 11(4), 858-868.
Environmental Protection Agency. (2017). EPA's Report on the Environment (ROE). Retrieved
May 10, 2018 from https://cfpub.epa.gov/roe/sustainability.cfm
Felic, A., Herrmann, F., Hogrefe, C., Klein, M., & König-Ries, B. (2015). Sustainable
Enterprise Interoperability in Dynamic Collaborative Environments: A Knowledge Link
Approach. In International Conference on Model-Driven Engineering and Software
Development (pp. 405-420). Springer, Cham.
Fink, A. A., & Andriate, G. S. (2017). Managing the change to a sustainable enterprise. In The
Sustainable Enterprise Fieldbook (pp. 130-152). Routledge.
References
Abdul-Ali, S., Davis, K. J., Twomey, D. F., & Knowles, R. N. (2017). Leadership for a
sustainable enterprise. In The Sustainable Enterprise Fieldbook (pp. 38-69). Routledge.
Agol, D., Latawiec, A. E., & Strassburg, B. B. (2014). Evaluating impacts of development and
conservation projects using sustainability indicators: Opportunities and
challenges. Environmental Impact Assessment Review, 48, 1-9.
Ary, D., Jacobs, L. C., Irvine, C. K. S., & Walker, D. (2018). Introduction to research in
education. Cengage Learning.
Bank Australia. (2018). Who are you?. Retrieved January 20, 2018 from
https://bankaust.com.au/support/faqs/about-us/who-are-we/
Banos-González, I., Martínez-Fernández, J., & Esteve-Selma, M. Á. (2015). Dynamic
integration of sustainability indicators in insular socio-ecological systems. Ecological
Modelling, 306, 130-144.
Chofreh, A. G., Goni, F. A., & Klemeš, J. J. (2018). Development of a Framework for
Sustainable Enterprise Resource Planning Systems Implementation. Journal of Cleaner
Production.
Edgeman, R., Neely, A., & Eskildsen, J. (2016). Paths to sustainable enterprise
excellence. Journal of Modelling in Management, 11(4), 858-868.
Environmental Protection Agency. (2017). EPA's Report on the Environment (ROE). Retrieved
May 10, 2018 from https://cfpub.epa.gov/roe/sustainability.cfm
Felic, A., Herrmann, F., Hogrefe, C., Klein, M., & König-Ries, B. (2015). Sustainable
Enterprise Interoperability in Dynamic Collaborative Environments: A Knowledge Link
Approach. In International Conference on Model-Driven Engineering and Software
Development (pp. 405-420). Springer, Cham.
Fink, A. A., & Andriate, G. S. (2017). Managing the change to a sustainable enterprise. In The
Sustainable Enterprise Fieldbook (pp. 130-152). Routledge.
Sustainable Enterprise 12
Ghinea, C., Campean, T., & Gavrilescu, M. (2017). INTEGRATING SUSTAINABILITY
INDICATORS FOR TRACKING ANTHROPOGENIC PRESSURE ON THE
EARTH--THE FOOTPRINT FAMILY. Environmental Engineering & Management
Journal (EEMJ), 16(4).
Hak, T., Janousková, S., & Moldan, B. (2016). Sustainable Development Goals: A need for
relevant indicators. Ecological Indicators, 60, 565-573.
Huang, L. (2018). Exploring the Strengths and Limits of Strong and Weak Sustainability
Indicators: A Case Study of the Assessment of China’s Megacities with EF and
GPI. Sustainability, 10(2), 349.
Keynes, J. M. (2016). General theory of employment, interest and money. Atlantic Publishers &
Dist.
Larner, J., Cheverst, K., MacDonald, M., Hoile, C., & Soutar, A. (2017). The open source guild:
creating more sustainable enterprise?. Journal of Management Development, 36(1), 71-
80.
Lipsky, D., Friend, G., Abdul-Ali, S., & Russell, W. G. (2017). Sustainable enterprise metrics
and measurement systems. In The Sustainable Enterprise Fieldbook (pp. 174-214).
Routledge.
Marans, R. W. (2015). Quality of urban life & environmental sustainability studies: Future
linkage opportunities. Habitat International, 45, 47-52.
Mascarenhas, A., Nunes, L. M., & Ramos, T. B. (2015). Selection of sustainability indicators
for planning: combining stakeholders' participation and data reduction
techniques. Journal of Cleaner Production, 92, 295-307.
McIntosh, M. (Ed.). (2017). The Necessary Transition: The Journey Towards the Sustainable
Enterprise Economy. Routledge.
Morse, S., McNamara, N., & Okwoli, B. (2017). Visions of sustainability: stakeholders, change
and indicators. Routledge.
Ghinea, C., Campean, T., & Gavrilescu, M. (2017). INTEGRATING SUSTAINABILITY
INDICATORS FOR TRACKING ANTHROPOGENIC PRESSURE ON THE
EARTH--THE FOOTPRINT FAMILY. Environmental Engineering & Management
Journal (EEMJ), 16(4).
Hak, T., Janousková, S., & Moldan, B. (2016). Sustainable Development Goals: A need for
relevant indicators. Ecological Indicators, 60, 565-573.
Huang, L. (2018). Exploring the Strengths and Limits of Strong and Weak Sustainability
Indicators: A Case Study of the Assessment of China’s Megacities with EF and
GPI. Sustainability, 10(2), 349.
Keynes, J. M. (2016). General theory of employment, interest and money. Atlantic Publishers &
Dist.
Larner, J., Cheverst, K., MacDonald, M., Hoile, C., & Soutar, A. (2017). The open source guild:
creating more sustainable enterprise?. Journal of Management Development, 36(1), 71-
80.
Lipsky, D., Friend, G., Abdul-Ali, S., & Russell, W. G. (2017). Sustainable enterprise metrics
and measurement systems. In The Sustainable Enterprise Fieldbook (pp. 174-214).
Routledge.
Marans, R. W. (2015). Quality of urban life & environmental sustainability studies: Future
linkage opportunities. Habitat International, 45, 47-52.
Mascarenhas, A., Nunes, L. M., & Ramos, T. B. (2015). Selection of sustainability indicators
for planning: combining stakeholders' participation and data reduction
techniques. Journal of Cleaner Production, 92, 295-307.
McIntosh, M. (Ed.). (2017). The Necessary Transition: The Journey Towards the Sustainable
Enterprise Economy. Routledge.
Morse, S., McNamara, N., & Okwoli, B. (2017). Visions of sustainability: stakeholders, change
and indicators. Routledge.
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
Sustainable Enterprise 13
Rahdari, A. H., & Rostamy, A. A. A. (2015). Designing a general set of sustainability indicators
at the corporate level. Journal of Cleaner Production, 108, 757-771.
Selomane, O., Reyers, B., Biggs, R., Tallis, H., & Polasky, S. (2015). Towards integrated
social–ecological sustainability indicators: Exploring the contribution and gaps in
existing global data. Ecological Economics, 118, 140-146.
Strezov, V., Evans, A., & Evans, T. J. (2017). Assessment of the Economic, Social and
Environmental Dimensions of the Indicators for Sustainable Development. Sustainable
Development, 25(3), 242-253.
Walker, L. E. (2015). Practical Leadership for Sustainable Business: Health and Safety
Management. In ASSE Professional Development Conference and Exposition. American
Society of Safety Engineers.
Rahdari, A. H., & Rostamy, A. A. A. (2015). Designing a general set of sustainability indicators
at the corporate level. Journal of Cleaner Production, 108, 757-771.
Selomane, O., Reyers, B., Biggs, R., Tallis, H., & Polasky, S. (2015). Towards integrated
social–ecological sustainability indicators: Exploring the contribution and gaps in
existing global data. Ecological Economics, 118, 140-146.
Strezov, V., Evans, A., & Evans, T. J. (2017). Assessment of the Economic, Social and
Environmental Dimensions of the Indicators for Sustainable Development. Sustainable
Development, 25(3), 242-253.
Walker, L. E. (2015). Practical Leadership for Sustainable Business: Health and Safety
Management. In ASSE Professional Development Conference and Exposition. American
Society of Safety Engineers.
1 out of 14
Related Documents
Your All-in-One AI-Powered Toolkit for Academic Success.
+13062052269
info@desklib.com
Available 24*7 on WhatsApp / Email
Unlock your academic potential
© 2024 | Zucol Services PVT LTD | All rights reserved.