Triple Bottom Lines and Sustainable Construction

Question: Discuss about the Triple Bottom Lines and Sustainable Construction. Answer: Introduction The sustainability of the key measures in the construction industry is approved to go beyond the financial aspects and therefore able to include the social and environmental factors. In the design of the key factors which need to be addressed to achieve the required results, the companys goals are the primary tool which is able to lead to the kind of factors which need to be looked at. At the construction industry, the companies are challenged to address different challenges and issues which are able to fall on the three categories of the TBL (In Bals In Tate, 2016). The proper address to these issues is able to lead to the sustainability of the companies and ensuring that the companies achieve their ultimate business goals. Moreover, the TBL in most cases are as well affected by the existing rules a challenge which many companies find as they align their business world with the legal requirement (Laszlo, 2010). The design of the companys goals is required to comply with the legal r equirements and this helps to generate a better sustainability. In addition, the TBL issues are able to ensure that the different goals, which are designed to achieve the developments, are adhered to at any given moment (Montoya, 2010). In addition, the TBL are seen to be key elements in the operation of the companies to ensure that they are able to achieve their development agendas. In addition, the results of the companys operations are usually able to define the compliance with the TBL and Global Reporting Initiatives (In Leal, 2015). The sustainable developments are able to enhance the compliance with the legal requirements. In addition, the sustainable developments are able to enhance the lives of the different people who are directly connected with the company or even in directly connected with the company operations. The sustainability aspect is able to enhance the company to meet its daily need and unable to disrupt the future generations and their needs as well (Montoya, 20 10). Moreover, the achievement of the accountability and transparency is achieved through the use of TBL and GRI initiatives. Discussion of reporting issues In construction industry, the use of technology is a key measure, which is able to enhance the use of the TBL and GRI in order to achieve the required business goals. Greenworld Construction Company is a construction company which engages of real estates and road network construction. The company has its capital in London UK and is able to enhance and coordinate its whole operation from the capital. The company is able to engage on the use of the different construction materials to enhance its operations. The company is able to look at the enhancement of the environment conservations, financial sustainability and the social aspects (In Bals In Tate, 2016). The company looks at the both benefits on its own operation to itself and to the other parties. The major parties include the shareholders, stakeholder and the world surrounding its operations. TBL and GRI reporting parameters and exercise: Policy investment One of the section in the TBL, which Greenworld looks to address to ensure they address properly, is the policy investment. The major areas, which the company looks, are to ensure that the external factors are well addressed to ensure that the company achieved the different profitable goals. The company is able to report on all the policies which are directed to ensure the proper investments are met within its lines of operation. The analysis of the policy of any area of investment is usually looked at any proper analysis is usually done to attain the profitability. In the address of the issue, the company looks at the protection of the environment to ensure that the company is able to abide by the relevant rules in their investment and the environmental policies. The company looks in addition to ensure that the projects which they works on are able to address the social aspects of the residents in the areas which they are working. This is enhanced through proper analysis of the bene fits which the residents will be able to achieve through the project (In Bals In Tate, 2016). The advantages of the project are listed and are reported to ensure that the company is able to attain its goals through CSR. The reporting mechanism of the questionnaires is usually used as part of the analysis of the policy investment advantages to the residents in different areas. In addition, the analysis on the policy investment is able to ensure that the company is able to achieve its financial aspects and profitability. Completeness principle Secondly, another issue, which has to be addressed in the company in connection with the TBL and GRI, is the completeness principle of the commenced projects. In relation to this idea, the company has to ensure that the company is able to deliver on the projects, which they have identified to carry out (Chaltegger, Bennett Burritt, 2006). This helps to analyses the benefits on the environment are achieved. On the completion of the project, the company ensures that it has to carry out the environmental impact and therefore look to address it and ensure that correct measures to ensure the conservation is maintained. Moreover, the completeness principle is able to ensure that the social advantage to the residents is achieved. Greenworld company is able to look and analyze the advantages which the company offers to the residents when the complete implementation of the project is achieved. In addition, the company has to ensure that the completeness of the projects is usually achieved. T his ensures that the financial aspect of the company is achieved (Shah, 2014). The company is able to enhance the analysis of ensuring that the project meets the different aspects and ensures that the complete projects are paid by the clients and ensure the achievement of the financial aspects of the company. The economic benefit is the major advantage which the company gains through the completeness of the projects. In addition, the company always carries out a proper analysis on the completeness mechanism which the company has to use to ensure that they achieve the financial benefit from the projects. Quality of materials and work In addition, the quality of the materials is another key factor in the TBL and GRI which need to be addressed. The analysis of the quality of the materials at the site is able to ensure that the different aspects of the GRI and TBL such as the social aspects, environmental aspects and economical aspects are achieved. In the address of the issue, Greenworld Company is able to ensure that the materials are able to meet the proper quality which enhances the quality of the property which the company is carrying out. The proper quality is able to maintain the environmental effectiveness and therefore able to preserve the environment. Moreover, the quality of the materials is able that the company gains the value of the money on the project implementation (Chaltegger, Bennett Burritt, 2006). In addition, this aspect ensures that the company is able to carry out quality projects and therefore enhancing its sustainability through the gaining of the trust of the clients. In addition, the add ress of the material quality is able to ensure that the company uses materials which are environmentally friendly and therefore enhance its utilization. The material quality is able to enhance the implementation of the aspects of the TBL and GRI. This ensures that the company is able to achieve the sustainability in the construction industry. Management involvement and control Moreover, another key issue, which the Greenworld Company needs to address to achieve the desired deliverables, is the management involvement through proper governance and commitments. The management approach and involvements in the company is able to make the key decision on all aspects. Their involvement is able to make the proper decisions which will enhance the achievement of the key aspects and goals of the company. First, the management involvement is able to look at the economical nature of the projects which the company is undertaking. This ensures that the reporting of the profitability of the company is done in a good way and the achievement of the financial aspects of the company is achieved. In addition, the management must ensure that the environmental and social factors from the projects are well addressed. The addressing must ensure that the environmental benefits and social advantages are achieved in the different aspects of the company operations (Yates, 2003). The a nalysis of the social aspects by the management ensures that CSR activities are well funded and the management reports are well addressed to achieve the economical and brand name for the company (Laszlo, 2011). The brand name, which is achieved through the CSR activities, is able to enhance the company operations and therefore lead to financial advantage to the company. In terms of the social benefits, the management is able to enhance the social benefits to the residents through the CSR activities. The management involvement is therefore able to enhance the sustainability of the company activities within the operational areas. Data management Another key reporting parameter, which Greenworld has to address, is the data management. The data is a key element, which the company has to coordinate to ensure that they receive the proper information on what they are doing and need to do in order to achieve the relevant targets. The data management is able to ensure that the company keeps up with the relevant trends in developments and technologies (Laszlo, 2013). Moreover, the key data has to ensure that the environmental changes are addressed and that the key measures are taken in each project to conserve the environment. In addition, the data management has to ensure that the key social issues are well looked at and then addressed (Bergman, 2012). The social aspects of the data management have to ensure that the proper management of the social factors is addressed. The CSR projects have to be identified through the data management issues and therefore their impact be analyzed well. Lastly, the data management has to achieve th e economic benefits of the different projects (Pipelines (Conference) et al., 2015). The key element in data management must ensure that the projects are able to achieve the economic benefits for the organization. The data management has top address the social, economic and financial sustainability for the Greenworld and ensures that the company achieves its own goals. Management policies and responsibilities Lastly, the policies and responsibilities management and analysis is another key are which Greenworld need to address to achieve the sustainability goals. The different management personnel have different key roles which they have to undertake. The analysis and allocation of duties and responsibilities must be addressed to ensure that the repetition of duties allocation does not happen (Yates, 2003). The policies must be developed in a good manner to ensure that the companys goals are achieved. In addition, the policies are able to define the commitment of the Greenworld Company concerning its achievement of the social, environmental and financial aspects at different level (Bergman, 2012). The responsibilities of the different personnel are able to define the way the company will accomplish the different aspects of the companys goals. Moreover, the different responsibilities allocation ensures that the economic aspects of the company will be achieved. The goals and responsibilities are able to defined the activities completion timely. Moreover, the responsibilities and policies are designed to ensure the achievement of the energy conservation and resources conservation which enhances environmental conservation. Challenges and issues in reporting sustainability One of the major key issue in the reporting of sustainability is the data management in the organization. Proper management resources, which are able to maintain the different issues in data entering each day, are required. Attaining the proper system, which is able to attain the resources and data entry and exit, is a challenge. The proper system requirement is a challenge due to the cost parameters and these results to be a challenge for the company to attain these sustainability goals (Yates, 2003). In addition, due to the biodiversity of the data, the management of the different issues coming into the company becomes a challenge. In every aspect, the concentration of the data to come up with a key deliverable is usually a challenge. In addition, the different ideas and time for concentrating the information is another key issue and challenge in Greenworld. The different personnel have different views on achieving the sustainability, and therefore it takes time to come up with one deliverable (Pipelines (Conference) et al., 2015). This is able to increase the time for the achievement of the sustainable development within the organization. The changes of the ideas and technology with time are able to lead to the change of the sustainability strategies. This is able to affect the sustainable operation for the company and therefore affect the activities of the company in different ways. In addition, the social aspects are able to change and keeping every social aspect addressed and all the residents in a location satisfied is not easy. This offers a key challenge for the when carrying out the projects and the company is prone to face oppositions. For instance, in the address of the proper employment strategies, many people may feel that they are left out regardless to the number employed from the society (Bergman, 2012). The social forces are therefore able to affect the operation of the company and attaining of the relevant goals for proper sustainability. This is able to affect the company in financial aspect. In addition, the sustainability through the TBL and GRI is expensive and the company is able to experience the financial pinch when addressing the different issues. Therefore, the financial aspect to make sure the company attains the TBL and GRI aspects is a burden of the company (International Conference on Sustainable Infrastruture et al., 2014). In different occasion, the company derives zero financial benefits on the address of these aspects. Conclusion In conclusion, the financial, social and environmental aspects are key in the address of the GRI and TBL aspects for any company in the construction company. The enhancement and achievement of these factors is able to lead to sustainability of the company. Different issues are able to arise and the initiatives have to be taken to address these issues in the TBL aspects. The brand name and proper organizational work elements are achieved when these issues are addressed. References Bergman, D. (2012). Sustainable design: A critical guide. New York: Princeton Architectural Press. Chaltegger, S., Bennett, M., Burritt, R. (2006). Sustainability accounting and reporting. Dordrecht: Springer. In Bals, L., In Tate, W. (2016). Implementing triple bottom line sustainability into global supply chains. In Leal, F. W. (2015). 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Pipelines (Conference), In Sever, V. F., In Osborne, L., American Society of Civil Engineers., American Society of Civil Engineers,. (2015). Pipelines 2015: Recent advances in underground pipeline engineering and construction : proceedings of the Pipelines 2015 Conference, August 23-26, 2015, Baltimore, Maryland. SHAH, S. H. A. S. H. A. N. K. (2014). Soulful corporations: A values-based perspective on corporate social responsibility. Heidelberg: Springer. Yates, A. (2003). Sustainable buildings: Benefits for investors and developers. Garston, Watford, England: Building Research Establishment. Yates, A. (2003). Sustainable buildings: Benefits for occupiers. Garston, Watford, England: Building Research Establishment. Triple Bottom Lines and Sustainable Construction Question: Discuss about the Triple Bottom Lines and Sustainable Construction. Answer: Introduction Triple Bottom Line (TBL) was postulated by John Elkington back in 1997 to improve on the performance and sustainability of the organization so as to realize its objectives and goals. The dimensions of TBL are three namely, social, environment and economic sustainability. It is important to underscore that the focal point of TBL is to assess social, environment and economic which is very crucial for an organization (Leppelt, 2014). TBL is a consultant firm that is based in UK and does consultative services to DuPont and World Bank. It therefore provides report on Corporate performance. It is incumbent to note that TBL provides the basis for the firm to assess their performance. Notably, it explicitly demonstrates integrity and transparency in an organization. This implies that it heightens investments and confidence in business which ultimately increases on profitability of the organization. In nutshell, it operates on three basic principle which work in tandem with each other. Significance in Sustainable Developments As enumerated above, TBL operates under three basic principles of sustainability namely, economic, social and environment. Due to its centrality of the aforementioned principle, it puts the firm at better position to assess its performance in a very competitive market. The key stakeholders of the organization are customers, employees and community around where such firm has been established. Environment Environment as a principle of sustainability implies the sphere in which the employees operate. It should be noted that when the environment is friendly, employees tend to provide their services diligently (Abereijo, 2016). In broad spectrum, environment encompasses treatment that employees receive in the course of their duty. Ideally, the management determines the type of management. If the manager is willing to listen to their employees, the workability would be smooth. To enhance sustainability and better the performance in an organization, it is incumbent of all the mangers to provide warm environment by ensuring that they bond their relationship with their workforce. According to John Elkington, environment measures the natural resources in a given area. A firm can be able to determine its performance by assessing some factors such as the rate of pollution caused by the firm. It is in this view that the firm ought to devise appropriate measures to see how to curb the issue of po llution of the environment. It is important to note that environment is very important for sustainability of the organization and the nation. This framework provides that the organization ought to develop appropriate measures to counter challenges of emission of hazardous gases which poses great threat to the lives of people and animals around. Another factor that is of paramount importance in an organization is the rate at which the said firm consumes electricity. The consumption of electricity in a firm matters a lot. The company may be able to calculate its output by knowing clearly their input through the consumption of electricity. This puts it at better position to determine if they are carrying out a profitable business or they are realizing great loss on the market for corrective measures to be devised. It has been observed that some of the firm do not have proper way of disposing their garbage. To achieve efficacy in sustainability, some regulations and policies in garbage disposal have been set to see to it that the firm adheres to the set regulations in the view of protecting the environment from destruction and reducing the effect caused by harmful substances. For instance, some companies such as Nike and Telesco reexamined its performance in Bangladesh and Mexico. This came as result of some notable issues that were brought forward, such as the issue of malpractices in the company, safety of employees and excessive use of hydrocarbon by the firm. Both Nike and Telesco did some investigations to ascertain the case brought before them. It was indeed established that the safety of employees was not given priority and as such made most of them vulnerable to some hazardous risks that would cause their lives. Social The community around which the firm has been established has to benefit from the firm in different ways. The notable ways is that the community has to be considered in the labor force and this would increase the bondage between the community and the firm. As such, the organization would have solved the issue of unemployment amongst the said community which would put the firm at a better position to perform their work with minimal problem or pressure from community. It is common knowledge that when the firm operate where there is high rate of unemployment, the company is at risk since insecurity may be high due to high unemployment rate amongst the community members( Glavas Mish, 2015). By employing the youth, all this factors are watered down and allows for better functionality of the system which is geared towards sustainability of the firm. The issue of gender parity has been on the bottom line for very long period of time. A firm may asses its progress by considering the number o f feminine in the firm since it has been observed for so long that they are denied opportunities in most of the corporations. The issue of equity in gender in an organization is very important as it implies that the said organization is not discriminatory and that it allows equal opportunities for all. Most of the nations have passed some regulations to see to it that firm adheres to the issue of gender in the organization. Another notable aspect under the social dimension is the health expectancy. The firm ought to play a significant role in ensuring that the health of its workforce put into consideration. This is achieved by paying for their workforce medical cover. Economic A sustainable business is the one that has good flow of money. An organization has to calculate its expenditure and taxes well to be able to assess how it is faring on in the market. The firm may establish this by ascertaining personal income, job growth, employment distribution and cost of underemployment. The aforementioned components are very significant in determining whether the firm is economically stable or not (Kalogo Monteith, 2013). If there is equal distribution of employment, this is a clear indication that the organization is performing well. Moreover, the level of job growth in an organization is another indication of the companys success. Job growth implies that the firm is performing better and that is why it requires additional, or surplus workforce to be able to meet its objectives. Conversely, when the firm decides to lay off its workforce, it implies that it is not performing well and this may attribute to great loss realized by the said firm. Primarily, it is im portant to underscore that most nations are striving to reinstate sanity in the issue affecting people, natural resources and climate. Conceptual Sustainability According to Pope, Annandale Morrison (2016) sustainability assessment helps as a tool to achieve fully sustainable environment. Sustainability is view as a process of aiding different projects and plans to improve the lives of people.in this article the authors are trying to distinguish different foams of sustainability. They are approaching this topic in a different perspective by evaluating whether or not a project fits to be considered sustainable. They are consider TBL to be the better option while choosing which project is appropriate on specific places. Entrepreneurship Sustainability Abereijo (2016) asserts that sustainability is a global issues affect a wider population of people, it is therefore requires more focus. Entrepreneurship has now been integrated by sustainability in that it combine both social and environmental sustainability. This essay majorly encourage developing countries to promote sustainability not just the entrepreneurship but also environmental conservation. This framework can influence how students in developing counties view sustainability entrepreneurship. Integration Approach Numerous research carried out by Onat, Kucukvar, Tatari Egilmez (2016) shows that quantitative sustainability is a complex topic. This topic requires new technology to be introduced so as to take care of many unresolved issues of environmental, social and entrepreneurial factors. This research is aimed to eradicate environmental problems and built a harmonious relationship between social and environmental approaches. Investigating all the aspect involved in impacting positively on environment. It alleviate global warming and air pollution produced by vehicles using oil and electric power. Economic impact Katsaliaki Navonil (2015) define sustainability as an act which cater for present society without affecting future generations. Economic well-being, environmental improvement and social entrepreneurship are all forms of triple bottom lines TBL. Effective management leads to better sustainability results. TBL has emerge as a prioritized factor in recent years due to climate changes, demographical and destruction of natural resources. Enhancing sustainability courses in universities is considered a road path to winning this devastating battle. Capabilities and Resources This article supported by Glavas, A., Mish, J. (March 01, 2015) research shows that qualitative studying and investigating on triple bottom line (TBL) do lead maintaining a healthier environment. It fully understands how firms carry out TBL and its relationships with other stake holders. They used theological approach to equip those they employ to do the research. TBL does not only major on finished products and services but also in goes further to how they are delivered. Moreover, they make their service transparent and involve all stake holders.in doing this they create new market where other firms can benefit. They prefer have a collaborative market plan rather than competitive package. Learning Organization An analysis by Calhoun Douglas (2015) was done and Learning organizational (LOs) have proven to be an effective method used when researching sustainability. In this content studies have been done on tourism and hospitality, the outcome had positive impact on sustainability. United Kingdom Sustainability This literature was largely conducted by Jones, Comfort Hillier (2014) how reading retailer stores are incorporating sustainability on their marketing strategies. It start by looking at sustainability in top companies United Kingdom especially in Cheltenham town. Those companies are enticing customers to buy and consume their products without educating them to embrace a sustainability pattern. This leads the author to critically come up with resolutions which would be of great beneficial to all citizens. Institutions Triple Bottom line (TBL) on sustainability was coined by Leppelt (2014) in that institutions and professionals are required to be in the front line to educate the communities on its importance. Its a broader concept which needs to be dealt with in a logical manner. Its notion is that companies should not only fight to gain profit but also put to consideration the environmental effects. Responsibilities Decoding Evidence given by Bammi Singh (2014) has a clear approach on how sustainability development fulfill the present problems and hinders it to proceed to the next generation. Entrepreneurs are imposing this concept of sustainability on their businesses. Their concept have brought many people closer to the environment. The study predicts a future human friendly environment. It also examines the natural behavior after this plans have been implemented. Resource Recovery Kalogo Monteith (2013) assert that consensus on professionals should view wastages as a valuable resources. How sludge will be beneficial to produce effective energy. Technology can be an alternative for social and environmental degrading. New technology can be used to turn sludge in useful materials. This process will save huge wastage experience in many countries. It continue to cover major advantages of recycling waste into beneficial items. Technological recovery do reduce government expenditure budgeted for importing materials. Challenges Companies are heavily under pressure to disclose their sustainability report, this leads to unplanned funds to be channeled where not previously planned. Sustainability is a global issue but few counties are ready to implement the stipulated rules to govern the environment. Many industries claim to adhere to sustainability but in real sense they are the ones contributing to environmental escalation. References Abereijo, I. O. (January 01, 2016). Ensuring Environmental Sustainability through Sustainable Entrepreneurship. Bammi, R., Singh, P. (September 01, 2014). Decoding the responsible gifting model of nurturing green.Decision,41,3, 361-370. Calhoun, J., Douglas, A. (January 01, 2015). An Analysis of Hospitality and Tourism Research. Glavas, A., Mish, J. (March 01, 2015). Resources and Capabilities of Triple Bottom Line Firms: Going Over Old or Breaking New Ground?Journal of Business Ethics,127, 3, 623-642. Jones, P., Comfort, D., Hillier, D. (January 01, 2014). Sustainability and the UKs Major Food Retailers. Kalogo, Y., Monteith, H. (2013).Energy and resource recovery from sludge. London: Katsaliaki, Korina, Mustafee, Navonil. (2015).Serious games for sustainable development. Sage. Onat, N. C., Kucukvar, M., Tatari, O., Egilmez, G. (July 01, 2016). Integration of system dynamics approach toward deepening and broadening the life cycle sustainability assessment framework: a case for electric vehicles.The International Journal of Life Cycle Assessment,21,7, 1009-1034. Pope, J., Annandale, D., Morrison-Saunders, A. (2016).Conceptualising sustainability assessment. Routledge, UK.