Sustainable Enterprise Assignment PDF
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Added on 2021-05-30
Sustainable Enterprise Assignment PDF
Added on 2021-05-30
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RUNNING HEAD: Sustainable EnterpriseSustainable Enterprise
Sustainable Enterprise 1ContentsIntroduction......................................................................................................................................2Bank Australia- The Overview........................................................................................................4Sustainability Dimensions...............................................................................................................5Socio- cultural Dimension as the specific Sustainability Area........................................................7List and Assessment of Indicators for Monitoring..........................................................................7Conclusion.....................................................................................................................................10References......................................................................................................................................11
Sustainable Enterprise 2IntroductionA 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 thecommunity supposing that such parts are not reliant on other parts (McIntosh, 2017). On the
Sustainable Enterprise 3other 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 employmentopportunities 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.
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