This website uses cookies to ensure you have the best experience. Learn more

Economics Essay

1449 words - 6 pages

In recent years, “Sustainability Reporting” is an issue that has attracted much attention in the workplace, social media, and the news. In a research paper titled “Sustainability Reporting: Who’s Kidding Whom?” written by Rob Gray, sustainability concerns not only in achieving an efficient allocation of resources over time, but also in achieving a fair distribution of opportunities and resources within the current generation and between the current and future generations, and balancing the scale of economic activity relative to its ecological life support systems at the same time. Sustainability can also be perceived as not only about doing the right thing, but also about being a catalyst for change and help to create a more sustainable economy and society (PwC 2013). In the context of financial reporting, sustainability reporting is a way for businesses and companies to disclose their sustainability efforts and initiatives to shareholders, stakeholders, employees and the society, at the same time enabling businesses to measure, analyse and interpret the impacts of their operations so that they can improve their sustainability profile. This type of reporting results in better reputation, improved access to capital, increased efficiency and waste reduction as well as meeting the expectations of employees, which are crucial for companies to differentiate themselves from their competitors in the competitive market these days (Ernst &Young 2012). In light of all the benefits that can potentially be achieved, there is a growing phenomenon in sustainability reporting in recent years, with the future of sustainability reporting involving greater adherence to the framework of Global Reporting Initiative (GRI) (G3 or G4) Sustainability Reporting guidelines. However, modern academic literatures often claim that most business reporting on sustainability actually have very little if there is anything to do with sustainability (Gray 2010), which rather undermines the usefulness of such reporting. In this essay, I will be using IKEA’s sustainability report as an example to investigate the claim made Gray. I will start by comparing IKEA’s report with the current framework of GRI’s Sustainability Reporting Guidelines, followed by a comparison with what is known from recent academic literature on sustainability reporting. I will then conclude by critically evaluating the report to analyse its usefulness to potential users of the account.
The GRI Sustainability Reporting Guidelines are a framework for reporting on an organisation’s social, environmental and economic performance. Besides, the framework provides assistance to organisations in preparing their sustainability reports regardless of their industry, size or location. It also supports organisations in the presentation of their economic, social and environmental performance in a sensible and balanced manner, while facilitating stakeholder engagement. In addition, the framework promotes comparability of...

Find Another Essay On Economics

economics Essay

3045 words - 12 pages QUESTIONHow does different economics system contribute towards the welfare and wealth of a country? Describe one economic system of a particular country and compare it with another economic system of another country.EXECUTIVE SUMMARYEconomics is one of the oldest disciplines among the humanities and it is categorized as a social science. Economics analyses the economic activity of people in order to satisfy their needs and desires. Human wants

Economics Essay

726 words - 3 pages simply using quantitative easing as a maintenance tool. References Quantitative Easing. (n.d.). Investopedia. Retrieved January 20, 2014, from http://www.investopedia.com/terms/q/quantitative-easing.asp Smith, L. (2010, November 5). Quantitative Easing: What's In A Name?. Investopedia. Retrieved January 22, 2014, from http://www.investopedia.com/articles/economics/10/quantitative-easing.asp U.S. Economic Confidence Index (Weekly). (n.d

economics

961 words - 4 pages Mock Economics Gr 11 Summative March 2014 GDP Per Capita (US$) Country Name 1990 1995 2011 Azerbaijan 1237 397 6916 Belarus 1705 1371 5820 Kazakhstan 1647 1288 11357 Kyrgyz Republic 609 364 1075 Russian Federation 3485 2670 13089 China 363 604 5445 North America 24003 26821 48343 Table 1 Source: World BankFast Food Chains in Kazakhstan1. Kazakhstan became an independent country in

Economics

671 words - 3 pages The fundamentals of economics start with understanding the theory of supply and demand. In this paper I will attempt to offer a brief description of the laws of supply and demand. I will also identify the factors that lead to the change in supply and demand in the global patterns/ trends of meat consumption. Through information that I have gathered from specific articles on the subject of global meat consumption patterns I will attempt to

Economics

3332 words - 13 pages levels being particularly high across Europe. The focus of this paper is on the longer term macroeconomic implications of much higher public and external debt. The final section, how- ever, summarizes the historical experience of the United States in dealing with private sector * Reinhart: Department of Economics, 4115 Tydings Hall, University of Maryland, College Park, MD 20742 (e-mail: creinhar@umd.edu); Rogoff: Economics Depart- ment, 216

economics

3332 words - 13 pages levels being particularly high across Europe. The focus of this paper is on the longer term macroeconomic implications of much higher public and external debt. The final section, how- ever, summarizes the historical experience of the United States in dealing with private sector * Reinhart: Department of Economics, 4115 Tydings Hall, University of Maryland, College Park, MD 20742 (e-mail: creinhar@umd.edu); Rogoff: Economics Depart- ment, 216

economics - 3332 words

3332 words - 13 pages levels being particularly high across Europe. The focus of this paper is on the longer term macroeconomic implications of much higher public and external debt. The final section, how- ever, summarizes the historical experience of the United States in dealing with private sector * Reinhart: Department of Economics, 4115 Tydings Hall, University of Maryland, College Park, MD 20742 (e-mail: creinhar@umd.edu); Rogoff: Economics Depart- ment, 216

Economics Today

837 words - 4 pages Economics are a study of society that help you decide how you should do things. You get to study individuals, groups of people, and organizations in these studies. They show how they work and also how they affect the economy of the places surrounding. Economics can be used by businesses to help with their marketing. If you were trying to plan a billboard you could could use economics. Like if you were wanting to say that your

Freaky Economics

1391 words - 6 pages Economics; is an important subject to understand the workings of finances. The common definition of economics is the social science that analyzes the production, distribution and consumption of goods. Freakonomics, the title of this book has the reader wondering what this book is about. From the title and even the cover picture it is clear it is not your average text book on economics. Yet, the authors have collected data and analyzed it to

War & Economics

728 words - 3 pages Looking over the history of the United States, the wars we have fought, and the developments we have had as a country it all comes back to Economics and our countries growth over time in that category. Why does Economics play a role in conflict? Money, everyone wants wealth. I see the effect of money as huge, everyone associates money with power, and the power you are given the more dominant you are, conflict then raises between other country’s

Keynesian Economics

737 words - 3 pages The U.S. never fully recovered from the Great Depression until the government employed the use of Keynes Economics. John Maynard Keynes was a British economist whose ideas and theories have greatly influenced the practice of modern economics as well as the economic policies of governments worldwide. He believed that in times when the economy slowed down or encountered declines, people would not spend as much money and therefore the economy would

Similar Essays

Economics Essay 1719 Words

1719 words - 7 pages Modern Economics.Modern economics vs. political economy, as it used to be called-dates back to1776. It begins with the American Revolution. A man named Adam Smith, a Scottish philosopher, published a book called Smith's work is considered the first example of modern economics. In some places Smith is most famous for suggesting that business always try to monopolize markets and raise prices. Economists credit Adam Smith theory of the invisible

Economics Essay 986 Words

986 words - 4 pages 1 "The first lesson of economics is scarcity: there is never enough of anything to fully satisfy all those who want it. The first lesson of politics is to disregard the first lesson of economics."Thomas SowellBackgroundEconomics is the study and understanding of the economy or the system of government and people that deals with money and financial effects. Economists have traditional concerns, which are illustrated above. The concerns of

Economics Essay 1673 Words

1673 words - 7 pages In order to understand how economics really work in today’s age we must think about how those economic ideas, revolutionary theories of many economists, that helped to shape the economic structure as we know it now, through many individuals and school of economic though that has existed through the ages. These schools are “the mercantilists, the physiocrats, the classical economists, Marxian economics, the neoclassical economists and the

Economics Essay 3061 Words

3061 words - 13 pages groups such as nations rather than individuals. The reason why they refuse to import other countries’ products is the impact on national economics. The power of that country connected to that country’s wealth and that is the reason why they consider more about nation’s wealth. In the IMF, this is the same. They loan money to the country and help that country to build up the new system of economics and get the healthy economics, however the IMF only