ADMS 1000 Chapter Notes - Chapter 11: Triple Bottom Line, Business Ethics, Financial Statement

• School: York University
• Department: Administrative Studies
• Course: ADMS 1000
• Professor: Len Karakowsky

Document Summary

Development that meets the needs of the present without compromising the ability of future generations to meet their own needs. Development - to progress the economy and society. A sustainability reporting tool to assess the combined economic, social and environmental performance of an organization: economic. Financial statement results: revenue by sector, research and development costs, taxes paid. Fair and equitable practices: fair salaries, safe workplace, reasonable working hours, respect for diversity and human rights, environment. Sustainable practices that do the least harm to our: Improves transparency: voluntarily reports its impact on society and environment. Allows flexibility broadly used in small and big organizations. Aims to satisfy more stakeholders: uses long-term perspective to improve the organization"s activities on all people/ groups being affected by it. No measurement standards: no widely accepted standards. Lack of comparability: since its not legally required some organizations refuse to do.