The paper "Is the Notion of Sustainability Relevant to Business and Accounting" is an outstanding example of a business assignment. Sustainability is a positive investment for any organization and it should therefore be adopted without hesitation. The fact that sustainability is founded on the basic principles of economic development, social development and environmental protection means that it is an important aspect since it allows for the well-being of the present as well as the future generations. Paraway is a large-scale company in the pastoral industry whereby sustainability is a major issue as a result of being dependent on natural resources such as land and water for the livestock.
Although the company has not been deeply involved in sustainability efforts, it has come to the management’ s attention that there is a need to reconsider this as a core function of the business. This will allow the business to attain various benefits such as loyalty from customers. Sustainability is relevant to accounting and business as it is a form of transparency and accountability as operations of an organization are carried out in compliance with agreed standards and in fulfilment of societal expectations.
It is also relevant to the pastoral industry and Paraway Company in particular as a result of the nature of the operations involved and the influence they have on the environment. Business organizations face various challenges in their pursuit of sustainability and they, therefore, need to invest in effective strategies to overcome the challenges, embrace the sustainability initiatives and maintain them. The long-term benefits associated with sustainability should be the main focus rather than the initial costs incurred in implementing the initiatives. Assessment one Introduction In today’ s business world, sustainability is not a new aspect but one that has been greatly advocated for as a result of the benefits associated with it.
For this reason, businesses in different fields and industries are adopting different measures of sustainability for various reasons such as compliance.
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