Although that SIA is considered to contribute effectively to social sustainability, there are three key limitations of current SIA practices leading challenges to achieve it (Vanclay et.al 2011). Firstly, the limitation of SIA in resource development and design. Secondly, people have traditional understandings about SIA, which limits the effective contribution of SIA to sustainability. Thirdly, the SIA lack of a regulatory agency definition and peer review studies. However, in order to fully achieve potential contribution of SIA to sustainability, three ways are promoted to achieve better sustainable development.
At first, from a resource developer’s perspective, the limitation of SIA practices (drawbacks in resource development and design)
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According to the definition of SIA, SIA is used to analyze, monitor and manage the social consequences. However, the current SIA practices has tended to be limited to being the assessed and estimated process (Vanclay et.al 2011). Especially, the current SIA is often used to predicate impacts other than to manage and monitor the impacts (Auchamp et.al 2011). In addition, the SIA was initially used for the public to discuss the likely impacts of decisions relating to government actions (Harvey 2011). While the current SIA practices do not meet the requirements. For example, the SIA community cannot convince all stakeholders to achieve the full potential of SIA. To address this limitation, a way is promoted to improve the SIA: Increasing the understanding and awareness of the benefits of SIA are essential for the public. To be specific, Esteves and Vanclay (2009) argued that the only method is establishing the value for SIA to all of its stakeholders (Vanclay et.al 2011). Through strongly emphasizing the value of SIA, achieving the fully potential contribution for sustainability becomes more directly. Moreover, here is a business case example for SIA to evident the effectiveness of this way. To get the better development results for both people and communities, the value of SIA is needed to be followed. On one hand, understanding the benefits of SIA is helpful to reduce risk for companies. On the other hand, SIA value always means the right thing (Vanclay et.al 2011). It is also beneficial for leading decision making and reduce unnecessary costs for companies. Furthermore, some other current good practice SIA are based on a good understanding of SIA and determining the value of SIA. Even in different levels of stakeholders, the value creation of SIA shows obvious and effective outcomes for them, such as the business, governments, local communities and civil
Wheelen, T. L., & Hunger, J. D. (2010). In Concepts in Strategic Management and Business Policy Achieving Sustainability, Twelfth Edition. Pearson Education.
...s is priceless. Whether it’s through public awareness or implementation of policies, the end goal and objective is to provide sustainability for future generations ahead.
After a thorough examination into BP’s numerous strategies, further analysis into the company’s strengths, weaknesses, opportunities, and threats (SWOT) provides an overall performance level regarding the outcomes of their CSR and sustainability goals. Drag and Zimnol (2014) stipulated a SWOT analysis can provide structure to the internal and external factors affecting the company’s current and future outlooks. Additionally, a SWOT analysis can generate context regarding the company’s current relationship with the environment, which can portray the ways to both reduce environmental impact and regenerate damaged communities (Drag & Zimnol, 2014). Therefore, evidence suggests that although BP displays admirable strengths capable of maintaining
Stakeholders and investors are no longer only interested in financial performances, they are interested in the governance of the company like what business practices and business models are implemented, social performances, how the company is giving back to society, how costumers are handled, environment and how diversity at work placed is addressed. Hence relevant information must be provided to the stakeholders to assure them that the company has a sustainable business model (Ridehalgh, 2012).
achieving the goal of sustainability. 12th ed. of the 12th e ). Upper Saddle River, NJ: Pearson Prentice Hall.
The scope of the sustainable development is conceptually divided into three parts: environmental, economic and social; each of these pillars must be on an equal stage, promoting a model of growth without exclusion (social), equitable (economic) and safeguard natural (environmental) resources (MIT Press Journals, 2017). Considering the words mention above, an interesting approach we could focus on is the way the industry uses the materials to develop projects.
This paper reveals the strategies that have been used by SIA, with backgrounds on their sustainability and sources of advantage, the way these strategies changed over the years and how to continue.
It is important to include and identify stakeholders in the policy development process. By doing so, the stakeholder ca...
Sustainability is a concept with a diverse array of meanings and definitions – a widely used glamorous, ambiguous, ambivalent and vague concept that is used by different stakeholder groups in various ways. Presumably to avoid noodling over a terminology or to avoid the confrontation with a definition, most widely the concept is broken down a planning process (c.f. e.g. Döring & Muraca, 2010). That is why most common sustainability is understood as sustainable development.1
In conclusion, I have to say that there is a solid invisible relationship between impacts of businesses on environments, profitability of sustainable business, and responsibility of business. When one of these ones changes, it will effect to others. When a business adapts efficient and sustainable system, it will reduce negative externalities and increase positive externalities to environment. Once the business adapted efficient business model, it will reduce cost and maximize its profits. Obviously, the sustainable and efficient business model will make the business social more responsible to environments.
According to the International Institute for Sustainable Development, sustainable development is defined as development that meets the needs of the present generation without compromising the ability of future generations to meet their own needs. If we follow this definition, it becomes easy to see that the vast majority of the “developed” world has not, and is not developing sustainably. The idea of sustainable development requires us to consider how our action of developing will affect other countries, and future generations. Many people believe in “the butterfly effect”, where the flapping of a butterfly’s wings in one part of t...
There are different approaches in sustainable development. Diesendorf (2000) had illustrated that the goal or destination of sustainable development was the tight relationship between sustainabi...
In order to get a comprehensive analysis on SIA's financial statement analysis , we compared SIA's 5 financial year ending(FYE) results with the industry's average and 2 of its main competitors Cathay Pacific Airways and Qantas Airways . Cathay has been trailing closely to SIA in terms of first class cabin service and profitability for years. Qantas has long been dominating the highly profitable Kangaroo route and is ranked 5th in the world by Skytrax's survey . Please refer to appendix for the actual figures for every analysis below.
The sustainability of the ecosystems on which the global economy depends must be guaranteed. And the economic partners must be satisfied that the basis of exchange is equitable” (World). This quote demonstrates the complexities of sustainability. Another thing corporations should focus on when trying to be sustainable is their environmental impact.
middle of paper ... ... Therefore, the application of the EIA in such public projects is a critical aspect in project developments, especially in promoting environmentally sustainable projects and public participation in the EIA process. Also, the public members are supposed to be actively involved in the EIA process so as to ensure that a cost effective method of conducting the EIA is chosen.