A performance framework for corporate sustainability

Sitalakshmi Venkatraman and Raveendranath Ravi Nayak

International Journal of Business Innovation and Research, 2010, vol. 4, issue 5, 475-490

Abstract: Recent studies conducted worldwide on corporate sustainability indicate gaps in sustainability practice. Many organisations deal with their economic, social and environmental issues individually and have not explored their inter-connections. They are now required to rethink their business strategies for improving their contribution to both shareholders and society as a whole. This paper is a step further to address these gaps in sustainability practice. Through an empirical study conducted in 85 different Australia-based firms, we unearth the inter-relationships among environmental, social and economic considerations simultaneously and propose a performance framework for implementing corporate sustainability. The framework consciously interconnects the triple bottom line measures using our 'Triple-I' principles of innovation, integration and interdependence that we propose within the managerial thinking. We describe the implementation of this framework in the form of a step-wise roadmap, using the Plan-Do-Check-Act quality cycle. We believe that such a practical guideline would pave way for continuous improvements in corporate sustainability performances.

Keywords: corporate sustainability; triple bottom line; social performance; environmental performance; financial performance; continuous improvement; total quality management; TQM; PDCA; plan do check act quality; performance frameworks; sustainable development; shareholders; Australia; inter-relationships; integration; interdependence; step-wise roadmaps. (search for similar items in EconPapers)
Date: 2010
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Citations: View citations in EconPapers (2)

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