The thrust of Sustainability is clearly empowerment of communities, capacity building, environment protection, promotion of energy efficient technologies and inclusive socio- economic growth.
At all times businesses need a reporting environment which is conducive to understanding and articulating their strategies which ultimately drive business performance.
Corporate Governance essentially consists of a set of policies and principles whose purpose is to make sure that the interests of all stakeholders are preserved through appropriate support.
Business ethics are moral and socially acceptable principles that guide the way a corporate operates. To formally define ``Business ethics (also corporate ethics) is a form of applied ethics.
Business Excellence is often described as developing exceptional practices in managing the processes and operations of the organization and achieving results, all based on fundamental concepts.
Process improvement is that aspect of organizational progress where a series of phased activities are taken by the process managers to identify, analyze & improve existing processes.
Compliance management then helps streamline efforts focusing on the implementation of industry-best practices.
Companies have varied economic, environmental and social impacts across their sphere of influence.
Business sustainability is essentially managing the triple bottom line - a process to manage their compliances.
Material Flow Cost Accounting (MFCA) is a management tool developed in Germany in the 1980s and is related to approaches such as eco balances and flow cost accounting.
CSR can be understood as being the way through which a company achieves a balance of economic, environmental and social imperatives (Triple Bottom-Line Approach).
The recent enactment of Companies Act, 2013, specifically Section-135 dealing with the CSR aspect of the industry has bring forth another issue of cost accounting vis-à-vis CSR.