Literature Review - How Sustainability Strategies can be measured A

- How Sustainability Strategies nookie be measured A of GRI and RepRisk - Literature review Exampleon what companies across the globe can do to attain sustainability and the important role that sustainability plays for them in their daily corporate management tasks. This review thitherfore looks into the description of sustainability as well as the strategies that come with sustainability practices. Lastly, there is a focus on sustainability and trust and wherefore it is important that stakeholders have sufficient trust in companies.Two major theoretical approaches to the definition of sustainability were set in the extant literature. The first of these had to do with the view of sustainability from the perspective of efficiency, where companies are expected to show uttermost expectation in their approach to social, economic and environmental utilisation of resources (Adams and Geoffrey, 2008). Those who argue for efficiency have broadly speaking debated that companies should b e able to take the minimal level of social, economic and environmental resources and turn this into a operable end product that benefits an ordinary person in the community (Nidumolu, Prahalad and Rangaswami, 2009). This means that such theorists believe that where there is the excessive use of resource, this can result in waste. There is a sustain school of design that focuses on sufficiency perspective, arguing that sustainability should be a framework of how well a company can measure what is sufficient for its need in the production of social, economic and environmental outcomes (Sparkes and Cowton, 2013). This means that the issue of measure should only be factor when resources used are seen to be resulting in waste. Both definitions admonish sustainability to be a three-tier concept having components of economic, social and environmental outcomes. The first school of thought would however be celebrated to have failed to appreciate the fact that quantity is always relative to an expected outcome (Szejnwald, de Jong and Levy, 2009). In this end, the second school of thought on sufficiency is adopted