Prof.Dr.Mahesh M.Patel
Current global initiatives on sustainable development offer various incentives for companies to act responsibly, but fail to convince a significant number of managers. This is expected based on the existing sustainable development plans at the governmental level applied in many countries. In the knowledge-based economy, the need for new approaches to support decision making for market share in the international community. Additionally, they will bear the costs of greening and be forced to allocate large amounts to regain consumer confidence in order to control their losses. As a consequence, macro-economic growth is correlated to companies’ sustainable activity. Sustainable development, defined as a call to maximize human welfare, is only possible if there are provided structures that encourages development, inno-vation, conservation, and discovery of new resources. Growth and increasing wealth through these methods, leads to improved social and environmental quality by raising demands for it and by providing the resources to meet these demands (Andersen et al., 2001).
Integrated Reporting