Strategic Sustainable Accounting Management-Myassignmenthelp.Com

Question: Discuss About The Strategic Sustainable Accounting Management? Answer: Introduction Premier investment is a retail fashion chain business. The company sells clothes of various renowned brands like jay jayas, jacqile etc. worldwide. In 2016 the sale of the company was increased to AUD $ 1 Billion which should that the company has a lot more scope to grow in the target market, just need the right marketing strategy. Further the report identifies various social and environmental concerns related to the company premier investments. It defines the business sustainability and ethical sourcing objectives of the company and its measures as well. Sustainable and ethical objective of premier investments Business sustainability refers to the scheme of looking forward, under which the company plans to amend changes in the system of the business in order to make the future secure; along with achievement of growth of the company. Ethical sourcing refers to the process of sourcing the products in a safe way. The product and services sourced are obtained in a sustainable manner. Further the business sustainability objectives, its measures and ethical sourcing objectives and measures of Premier Investments are discussed below: Dimensions Objective Possible Performance Measures Business sustainability Maintenance of Corporate Social Responsibility Manage stakeholders interest Reduce wasting of resource Although both the terms CRS and sustainability differ from each other but their motto is same. CSR refers to the process of looking back the activities done by the company in an accounting year. It is asset of standards which every company has to follow and also they are liable to pay tax (Nandakumar, Ghobadian, O'Regan, 2011). In the company Premier Investments, in order to comply CSR the company shall ensure to plant trees so that the pollutants which the factory emits doesnt dissolve in air. Another way to fulfill CSR is by creating a fund only for perform the CRS activities. Through this the company will assess the amount invested in CRS and can easily check the records as well (Soh, Wilson, 2014). Another aspect which will lead the Premier Investments to success is by safeguarding the interest of stakeholders. The company can maintain their interest firstly by, not harassing the resources given to the company and using them adequate. Another way through which the company shall safeguard the interest of stakeholders is by not doing any wrongful activity and not hiding any crucial information from them. It is the right of the stakeholder to know about the activities of the company so the company shall not perform any wrongful activities which can affect the stakeholders interest. Also the company shall aim to work in long and think about profitability of business (Shen, 2012). There is already lack of resources (that is natural) on earth and if people will misuse it, then there will be resources left for the future generation. So the Premier Investments shall, try to reduce emission of wastage and use of natural resources. The company shall use such resources wisely also it shall find other alternatives to substitute the natural resources Another initiative which the company can take to reduce the wastage is by asking the manager to take strict action against the employees who emit wastage. In this way the wastage of resources can be monitored and reduced (Tanwar, 2013). Gratification of employees program The company shall not use aggressive market techniques Communication of information The company shall make that they do not misuse the interest of employees and provide them good working environment. The company can satisfy the employees in the following ways: Providing them financial and non-financial incentives such as gifts, promotion, motivation, appraisals etc. In this ways the employees will urge to work more for the company as well (Thorne, Ferrell, Ferrell, 2011). Provide safe working conditions and job security, the basic requirement which every employee wants is job security so the company shall provide them job security. The company is a cost efficient company working adequately in its market. But for the purpose of growth the company shall not use techniques to misuse the market capitalization. Two ways through which company shall bind the market regulation are, through giving chance of smaller firms as well to enter in the market and earn profit. Another way is by not misusing the market features for the benefit of only organization. Instead the company shall use such attributes of market to gin benefit for the whole community (Wheelen, Hunger, 2011). The company shall make sure that they supply adequate information internally, to the employees of the company. Also if any information is known which shall be communicated to the customers as well, in that case the company shall also transfer such information to the community on a whole The management of the company shall also take credit to this policy that it shall investigate the internal process of the company and if required process audit program as well. And then communicate mandatory information to the employees of the company and the general public as well (Yuan, 2013). Conclusion Thus in the limelight of the above mentioned events it shall be noted that it is important for a business to practice ethical management in their so as to initiate sustainability of the organization. Thus, it can be said that business sustainability and ethics are two important factors which shall not be ignored by the management during the course of action of the core business activity References Nandakumar, M. K., Ghobadian, A., O'Regan, N. (2011). Generic strategies and performanceevidence from manufacturing firms. International Journal of productivity and performance management, 60(3), 222-251. Shen, B., Wang, Y., Lo, C. K., Shum, M. (2012). The impact of ethical fashion on consumer purchase behavior. Journal of Fashion Marketing and Management: An International Journal, 16(2), 234-245. Soh., B Wilson., J,(2014). Value Investor: A Premier offering., Viewed on August 13, 2017 from https://www.stocksinvalue.com.au/value-investor-premier-offering/ Tanwar, R. (2013). Porters generic competitive strategies. Journal of Business and Management, 15(1), 11-17. Thorne, D. M., Ferrell, O. C., Ferrell, L. (2011). Business and society: A strategic approach to social responsibility and ethics. South-Western Cengage Learning. Wheelen, T. L., Hunger, J. D. (2011). Concepts in strategic management and business policy. Pearson Education India. Yuan, H. (2013). A SWOT analysis of successful construction waste management. Journal of Cleaner Production, 39, 1-8.