Impact of Sustainability Balanced Scorecard Types on Environmental Investment Decision-Making

Jassem, Suaad; Azmi, Anna Che; Zakaria, Zarina

doi:10.3390/su10020541

Cited by 27 publications

(37 citation statements)

References 43 publications

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“…One strength of the SBSC lies in its ability to bridge the gap between the strategic and operative level identifying those environmental and social aspects which are necessary for securing a company's financial success [16,17]. A broad consensus has been established that the SBSC is one of the most effective tools in evaluating potential investments and initiatives by better integration of the environmental, social and economic aspects of sustainability measurement and management [18][19][20][21][22].…”

Section: Introductionmentioning

confidence: 99%

Sustainability Value Creation, Survival, and Growth of the Company: A Critical Perspective in the Sustainability Balanced Scorecard (SBSC)

2019

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The issue of sustainability in company strategy has assumed crucial relevance in recent years. Many companies have implemented specific environmental and sustainability management systems such as the Sustainability Balanced Scorecard (SBSC), which integrates sustainability and the traditional Balanced Scorecard (BSC). However, environmental and sustainability aspects are often not linked to economic success, and qualitative analysis is not considered adequately by managers. Therefore, these dimensions remain unclear, because it is necessary to analyze the conditions under which the SBSC represents a suitable tool for sustainability value creation in more depth. In this context, the purpose of the study is to propose a new strategic framework to provide a way to manage critical issues connected to the SBSC. Thanks to the information obtained from a survey and interviews conducted with managers of Italian companies, we created an adjusted SBSC (ASBSC) that allows us to consider the critical aspects from a new perspective, named the critical perspective. The conceptual model is developed in five dimensions (conceptual, structural, environmental, social, and economic). Research findings suggest that considering the critical perspective makes it possible to build the ASBSC in order to achieve sustainability and economic success of the company. The proposed framework contributes to the existing literature on improving the performance of the SBSC.

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Section: Introductionmentioning

confidence: 99%

Sustainability Value Creation, Survival, and Growth of the Company: A Critical Perspective in the Sustainability Balanced Scorecard (SBSC)

2019

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“…Some studies investigated the sustainability performance of the energy sector for long-term time horizons [38][39][40][41][42]. Some of the papers studied the relationship between an enterprise's environmental and economic performance [35,[43][44][45] or the influence of stakeholders as part of the social dimension [46,47]. Putzhuber and Hasenauer developed 15 indices to measure economic, social, and environmental impacts using governmental data.…”

Section: Literature Reviewmentioning

confidence: 99%

An integrated Multi-Criteria Decision Making Model for Sustainability Performance Assessment for Insurance Companies

et al. 2020

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To stay competitive in a business environment, continuous performance evaluation based on the triple bottom line standard of sustainability is necessary. There is a gap in addressing the computational expense caused by increased decision units due to increasing the performance evaluation indices to more accuracy in the evaluation. We successfully addressed these two gaps through (1) using principal component analysis (PCA) to cut the number of evaluation indices, and (2) since PCA itself has the problem of merely using the data distribution without considering the domain-related knowledge, we utilized Analytic Hierarchy Process (AHP) to rank the indices through the expert’s domain-related knowledge. We propose an integrated approach for sustainability performance assessment in qualitative and quantitative perspectives. Fourteen insurance companies were evaluated using eight economic, three environmental, and four social indices. The indices were ranked by expert judgment though an analytical hierarchy process as subjective weighting, and then principal component analysis as objective weighting was used to reduce the number of indices. The obtained principal components were then used as variables in the data envelopment analysis model. So, subjective and objective evaluations were integrated. Finally, for validating the results, Spearman and Kendall’s Tau correlation tests were used. The results show that Dana, Razi, and Dey had the best sustainability performance.

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“…To reach a consensus on the overall strategy for development of a company, the balanced scorecard approach can effectively integrate the four objectives, targets, and initial action plans for design and implementation. The main purpose is to transform the company's strategy into concrete action plans to create a competitive advantage [40,41].…”

Section: Practical Application Of the Balanced Scorecard And Its Extementioning

confidence: 99%

An Internal Control System that Includes Corporate Social Responsibility for Social Sustainability in the New Era

Liu

2018

Sustainability

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Although the importance of corporate social responsibility has received more attention over the years, the goal of social sustainability has still not been achieved. The main reason is that companies seeking to implement social sustainability, have failed to incorporate the concept of corporate social responsibility into their corporate internal control objectives. Furthermore, studying the interactive relationship between corporate social responsibility and internal control and ensuring the consistency of corporate strategy and internal control objectives are done to help promote the sustainable development of enterprises. In order to promote social sustainability and improve management decision-making gaps, therefore, the purpose of this paper is to develop a new hybrid multi-attribute decision model to assess the impact of corporate social responsibility for the implementation of internal control that includes corporate social responsibility. The empirical results show that a social responsibility-oriented internal control system may be a better strategy than maintaining the original internal control objectives. In addition, by adjusting the internal control system to jointly promote the sustainable development goals of the company and ensure the consistency of corporate strategy and internal control objectives, the company can be truly guided to implement the social responsibility management objectives. Finally, the social sustainable development goals can be truly realized, and the interests of all stakeholders in the enterprise can be truly satisfied.

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Impact of Sustainability Balanced Scorecard Types on Environmental Investment Decision-Making

Cited by 27 publications

References 43 publications

Sustainability Value Creation, Survival, and Growth of the Company: A Critical Perspective in the Sustainability Balanced Scorecard (SBSC)

Sustainability Value Creation, Survival, and Growth of the Company: A Critical Perspective in the Sustainability Balanced Scorecard (SBSC)

An integrated Multi-Criteria Decision Making Model for Sustainability Performance Assessment for Insurance Companies

An Internal Control System that Includes Corporate Social Responsibility for Social Sustainability in the New Era

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