According to Dalal-Clayton and Bass, 2002, “ the main contents of the monitoring system is the developing a good baseline and a systematic approach to monitoring which includes qualitative, quantitative and descriptive monitoring that helps balancing social and conomic concerns by making link of internal and external monitoring”. Hence we are 1. 2 Dimensions: There are 3 types of dimensions which are Social, Economic and Environmental on which the entire system is evaluated.
These are considered as the triple bottom line of sustainability. These dimensions are further broken down as indicators which are used as different aspects to further study the impacts on the company. 1. 3 Indicators Indicators are everywhere and its part of everybodys life. Indicators is said to be natural. Generally indicators arise from the principles and ethics of life. Sustainable ndicators : are used to measure the performance of the enterprises.
As stated in United nations Earth Summit, 1992 ” Indicators of sustainable development need to be developed to provide solid bases for decision making at all levels and to contribute to the self-regulating sustainability of integrated environment and development systems”. However Pannell (2003) comments that “ indicators are developed also in realtion with the company’s busines, their goals and vision making the indicators revelant to the business development apart from being essential to the sustainable development and also the indicators are developed to increase the wareness of the corporate accountability’.
Indicators are only effective by ensuring an in depth analysis and integration of various sources of all triple bottom line Economic, Environmental and socio- cultural processes. When selecting indicators a great care should be given because, when indicators are poorly chosen it can harm the enterprise with serious malfunctioning. The researches show that indicators are partial reflections of reality. So people will have different indicators based on the different views. The indicator analysis can help measuring the performance of a firm nd indicate the plan of measurement framework from the appropriate monitoring system.
Balance scorecard can be a key indicator that highlights the performance of an enterprise in various aspects. Indicators can help narrow the difference between the different views. Indicators also can change over period of time with advanced ideas and strategies. There are number of dimensions in viewing the indicators, they are as follows. * Economic indicators * Environmental indicators * Human rights indicators * Labour indicator and * Social indicators 1. 4 Communication Communication is an integral part of any organisational system as well as to the veryday life.
Indicators are the guide line for management and bottom line employees, so it should be communicated in a proper manner i. e. should project the results as easily readable and understandable. Researches show that communication is to be done on a regular basis, updating the changes and developments to the partners and the employees. Reporting is a form of communication and it represents the value and standard of the enterprise to the public. Many of the enterprise organisation, doubting, it could influence negatively to the business.
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