Sustainable Enterprise-Monistoring System on Samsung Essay Example
Dalal-Clayton and Bass (2002) suggest that the monitoring system should give priority to establishing a strong baseline and employing a systematic approach. This method ought to encompass qualitative, quantitative, and descriptive monitoring techniques to tackle social and economic concerns. Furthermore, it is crucial for the system to incorporate internal and external monitoring endeavors in order to attain a more comprehensive evaluation. The assessment of the system revolves around three aspects: Social, Economic, and Environmental.
The triple bottom line of sustainability is comprised of three dimensions, which are further analyzed through various indicators to understand their impact on the company. Indicators are a natural part of life and can be found everywhere. They arise from principles and ethics, and sustainable indicators are specifically used to assess enterprise performance.
The United Nations Earth Summit in 1992 emphasized the significance of establish
...ing indicators for sustainable development. These indicators would be utilized in decision-making processes at all levels and promote self-regulating sustainability within integrated environment and development systems. Pannell (2003) additionally recommends that these indicators should correspond with a company's business, goals, and vision to foster business growth and corporate accountability.
When choosing indicators, it is crucial to carefully consider the integration of various sources related to the triple bottom line - Economic, Environmental, and Socio-cultural processes. This is because poorly chosen indicators can negatively impact a company's performance. Research suggests that indicators only provide a partial view of reality, leading to different indicators depending on various perspectives. Analyzing indicators can assist in measuring firm performance and determining the appropriate monitoring system for measurement.
The balance scorecard can serve as a crucial metric fo
assessing an enterprise's performance across various aspects. Indicators play a vital role in bridging differing perspectives and can evolve over time with innovative ideas and strategies. The indicators encompass economic, environmental, human rights, labour, and social dimensions. Communication is an essential component within organizational systems and everyday life.
Indicators serve as guidelines for management and bottom line employees, and should be communicated properly in order to project easily readable and understandable results. Research shows that regular communication, including updates on changes and developments, should be carried out with partners and employees. Reporting is a form of communication that reflects the value and standards of the enterprise to the public. However, many enterprise organizations have doubts about how it could potentially have a negative impact on business.
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