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Sustainability and Integrated Reporting - A New Approach
Finance & Accounting
Pages 8 (2008 words)
Sustainability and Integrated Reporting Name: Institution: Instructor: Subject: Date: Table of contents Executive Summary 3 The meaning of sustainability 3 Corporate stakeholders of Woolworths and Woolworth’s engagement about sustainability issues 4 The main drivers 5 Integrated reporting 6 The current position of Woolworths regarding integrated reporting 7 Integrated reporting and initial focus on large companies 8 Bibliography 9 Executive Summary Sustainability is a managerial approach that attempts to achieve long-term shareholder value by taking opportunities and managing risks emanating from economic, social and environmental aspects, at the same time mitigating sustainability risks an
The benefits and challenges of this reporting is looked into and the need to adopt in corporations. Woolworth, a categorical large corporation is analysed in regards to the extent it has adopted integrated accounting. Guidelines for integrated reporting are set out globally through various bodies like the International integration reporting committee amongst others. The meaning of sustainability In the business context, sustainability can be defined as an approach that attempts to achieve long-term shareholder value by taking opportunities and managing risks emanating from economic, social and environmental development, but at the same time cutting back sustainability costs and risks (Michalski et al, 2002, 6). To achieve sustainability the business presents itself an opportunity to grow economically while attaining social fairness and environmental protection for its stakeholders. ...
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