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To analyze corporate sustainability metrics, companies must first customize the measurement approach and the metrics they use. Companies may include both financial and nonfinancial measures about...

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To analyze corporate sustainability metrics, companies must first customize the measurement approach and the metrics they use. Companies may include both financial and nonfinancial measures about inputs, process, output, and outcomes. Many companies do not measure social, environmental, and economic issues as part of the decision-making process. Discuss the challenges to measuring sustainability in a way that drives positive corporate sustainability performance.

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Answered Same Day Mar 05, 2021

Solution

Soumi answered on Mar 06 2021
137 Votes
Running Head: BUSINESS ETHICS        1
BUSINESS ETHICS        2
BUSINESS ETHICS
Challenges in Measuring Sustainability to Inculcate Positive Corporate Sustainability Performance
Corporate sustainability at a business level is a multidimensional concept, which should be assessed and managed by the key decision makers to achieve a positive performance. Along with conventional financial performances, organizations must focus on social responsibility, ethics, employee satisfaction, and environmental issues to achieve positive traction. This approach is required as the costs incu
ed through social and environmental risks can affect the finances, at the bottom line. As stated by Medel-Gonzalez, Garcia-Avila, Salomon, Marx-Gomez and Hernandez (2016), corporate sustainability is a multi-dimensional idea, which includes financial returns, business strategies, stakeholder’s interest, consumer’s satisfaction and looking after internal factors. Hence, applying this concept to day-to-day operations of an organization is not a simple task.
Measurement of sustainability performance is the key to the success of an organization in the end. Various tools are used to measure the sustainability, and these include analytic hierarchy process, analytic network process, balanced scorecard and others. In recent years, sustainability management has gained immense importance. According to Grigoris (2016), sustainability management is all about
inging about a balance...
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