Measuring and Evaluating Business Sustainability: Development and Application of Corporate Index of Sustainability Performance

Medel-González, Frank; García-Ávila, Lourdes; Acosta-Beltrán, Adael; Hernández, Cecilia Toledo

doi:10.1007/978-3-642-32081-1_3

Cited by 16 publications

(16 citation statements)

References 19 publications

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“…Searcy and Elkhawas (2012) note that the development of sustainability indicators to meet established needs has been an endeavour of the academic literature, both at the firm and corporation levels. These indicators should correspond to the policies, strategies and goals of an organization, according to their business area, by providing key information for their corporate sustainability decision-making process (Medel-González et al, 2013).…”

Section: Approaches For Sustainability Performancementioning

confidence: 99%

“…With the variety of CS integration approaches, serving as a basis for the decision-making on future actions, the consideration of the appropriateness of a course of action to a particular business situation is key (Medel-González et al, 2013). Moreover, these approaches aim to give support with tracking strategies on the three sustainability issues at all organizational levels (Medel-González et al, 2013).…”

Section: Introductionmentioning

confidence: 99%

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Sustainability performance for Brazilian electricity power industry: An assessment integrating social, economic and environmental issues

2017

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Article 25fa pilot End User Agreement This publication is distributed under the terms of Article 25fa of the Dutch Copyright Act (Auteurswet) with explicit consent by the author. Dutch law entitles the maker of a short scientific work funded either wholly or partially by Dutch public funds to make that work publicly available for no consideration following a reasonable period of time after the work was first published, provided that clear reference is made to the source of the first publication of the work. This publication is distributed under The Association of Universities in the Netherlands (VSNU) 'Article 25fa implementation' pilot project. In this pilot research outputs of researchers employed by Dutch Universities that comply with the legal requirements of Article 25fa of the Dutch Copyright Act are distributed online and free of cost or other barriers in institutional repositories. Research outputs are distributed six months after their first online publication in the original published version and with proper attribution to the source of the original publication. You are permitted to download and use the publication for personal purposes. All rights remain with the author(s) and/or copyrights owner(s) of this work. Any use of the publication other than authorised under this licence or copyright law is prohibited. If you believe that digital publication of certain material infringes any of your rights or (privacy) interests, please let the Library know, stating your reasons.

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Section: Approaches For Sustainability Performancementioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Sustainability performance for Brazilian electricity power industry: An assessment integrating social, economic and environmental issues

2017

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“…The three-pronged evaluation tool consists of only 93 indicators (31 × 3) because aggregation was necessary to include all the points in the abovementioned frameworks. A successful indicator aggregation process (a) summarises pertinent data, (b) communicates desired information, and (c) facilitates time comparisons [24]. The indicators were selected from the frameworks and phrased in a way that fulfils these criteria.…”

Section: Methodsmentioning

confidence: 99%

Assessing Corporate Sustainability with the Enterprise Sustainability Evaluation Tool (E-SET)

Zenya

Nystad

2018

Sustainability

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Implementing a sustainable business strategy entails assessment of corporate sustainability. In this communication, the Enterprise Sustainability Evaluation Tool (E-SET) is presented and its importance is illustrated. E-SET was developed using the indicators from six global sustainability reporting frameworks and the programming language R. The platform, which can be used for self-assessment and comparison purposes, will provide a comprehensible sustainability score and its graphical representation. Although different sector-specific indicators are proposed in existing literature, E-SET, which is intended to promote sustainability in business practices, incorporates indicators relevant to the three pillars of sustainability. The free and easy tool is expected to help managers of all industries assess their companies, and, based on the results, they would be able to judge their sustainability standing and take remedial steps founded upon the low-scoring sustainability elements. Wider adoption of E-SET will help firms to contribute significantly to national sustainability goals.commitments in an organisation [9]. There are platforms developed by independent parties; for example, Sustainalytics provides environmental, social, and governance ratings [10]. Unfortunately, their services are expensive and hence inaccessible to small firms. These arguments and the multitude of academic literature that proposes suitable indicators for different sectors [11][12][13][14][15][16][17] indicate that there is no widely-accepted tool for corporate sustainability assessment. Prior studies provide insights from different perspectives regarding sustainability indicators [7,18] and measurements [11,[14][15][16][17]. However, these methodologies have several limitations, and hence there is a lack of a universal and widely-accepted corporate sustainability assessment tool. This is a major impediment for understanding businesses' contribution to national sustainable development [5].This communication aims to present the Enterprise Sustainability Evaluation Tool (E-SET), which incorporates social, environmental, and economic assessment. The purpose of this study was to develop a free and easy tool to evaluate the sustainability of firms. Even though E-SET is not a platform that has been mandated by any government or association, the tool enables managers to gain knowledge regarding their firm's sustainability and the topic of sustainability as a whole, and then take remedial actions to improve the sustainability strategy. The top-down approach to sustainability leads to effective implementation of sustainability policies within companies [19]. Dependable results are expected in such circumstances. Honest and reliable input provided by company representatives will improve the firm's sustainable business strategy if they compare their current sustainability score with (a) past evaluations, (b) future goals, and (c) that of competitors.This article will continue with a Methods section, where the development of the platform will be explaine...

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“…According to Medel-González et al (2013) in the 1980s, the awareness has already grown on conserving the very delicate nature due to relentless and reckless economic and infrastructural development, where any further checkless development may in fact cause severest damage to the (already) fragile system. This gave rise to appreciate a sustainable appraisal from all spectrums of society, name, economic, society and the nature.…”

Section: The Way Conventional Businesses Respond To the Sustainable Pmentioning

confidence: 99%

“…Likewise, the corporate sustainability (CS) gained the momentum to address "all" stakeholders in place of previous shareholders" view, through delicately and proactively balancing the economic, environment and social domains (Hubbard, 2009;Medel-González et al, 2013) by engaging a multidimensional performance measurement system in corporate and governance sector. The multidimensional performance measurement (MPM) includes business strategies, financial returns, customer"s satisfaction, stakeholder"s interest, internal processes and above all the human factor (Epstein and Marie-Josée 2001, as cited by Medel-González et al, 2013). To address this MPM, Kaplan et al (1992) proposed a Balanced Scorecard (BSC) system, which further is designed towards a sustainably enhanced SBSC to reflect the holistic issues related to corporate sustainability (Erechtchoukova et al, 2013).…”

Section: The Way Conventional Businesses Respond To the Sustainable Pmentioning

confidence: 99%

The Maqasid Al Shariah and the Sustainability Paradigm: Literature Review and Proposed Mutual Framework for Asnaf Development

Haq

Wahab

2019

JAFEE

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Purpose - The study examines through analysing the literature, that the zakat recipients (asnaf) can be better entertained by a sustained mechanism than one-off measures. The main aim towards asnaf upliftment should be based on a self-reliance goal-oriented-action strategy plan to alleviate them from any further deprivation. The aim of Maqasid in addressing these issues is to ensure that an asking basket gets smaller day by day through an effective regime. Design/Methodology/Approach - The paper analyses and synthesises the relevant literature on Maqasid and sustainable paradigm, then proposes a conceptual convergence to understand the paradigmatic similarities between the two in appreciating the welfare of zakat recipients. Findings - The paper attempts to examine the latitude of sustainability and Maqasid necessities in relation to asnaf welfare. The sustainability development’s main concern that the future generation benefits from the present development, which is quite similar to Hifzul Nasl or protection of progeny in Maqasid fulfilment. It can be stated that the three jurisdictions of sustainable development (SD) paradigm i.e., namely, the social, economic and environmental concerns are in actual fact, more in conformity with the Maqasid requirements. But many authors stated that indeed Maqasid is more wholesome and more encompassing than the traditional SD paradigm. Islam categorically highlights that human being as a caretaker of environment, need to ensure a better, and harmonious society, that should be erected with constructive and productive economic activities and not resorting to any damages to the nature. These concerns clearly conforms with Maqasid when it conditions that the protection of life or health, or intellect or progeny or wealth needs to be with true understanding about the self as well as the kindness of the creator, which truly encompasses faith, and that to achieve any higher dimension, may require that these basic necessities are fulfilled and ascertained at the foremost. Originality/value - This study scrutinises a comprehensive understanding about sustainability and Maqaisd needs in addressing the asnaf development and welfare. The study further elucidates that even the nature is in constant salutation towards thanking the Lord for all the bounties.

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Measuring and Evaluating Business Sustainability: Development and Application of Corporate Index of Sustainability Performance

Cited by 16 publications

References 19 publications

Sustainability performance for Brazilian electricity power industry: An assessment integrating social, economic and environmental issues

Sustainability performance for Brazilian electricity power industry: An assessment integrating social, economic and environmental issues

Assessing Corporate Sustainability with the Enterprise Sustainability Evaluation Tool (E-SET)

The Maqasid Al Shariah and the Sustainability Paradigm: Literature Review and Proposed Mutual Framework for Asnaf Development

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