1. Sustainability Balanced Scorecard
You have already been involved in its early phase construction – this is how it helps

2. Internal Management tool to operationalize sustainability goals from the company’s strategic plan
Intentions are important, but without frameworks & strategies, tend not to be profitable

3. Printed on recycled paper-actually better, not printed at all
Overview
Overall goal is to implement sustainability issues in the company’s strategic plan through the balanced scorecard system
Balanced Scorecard is a promising starting-point to incorporate environmental and social aspects into the main management system of a firm.
Printed on recycled paper-actually better, not printed at all

4. Printed on recycled paper-actually better, not printed at all
Link environmental and social management systems to economic management systems
Many companies have implemented specific environmental or social management systems during the last decade; more are jumping on board
These systems have, however, rarely been integrated with the general management system of a firm.
As a consequence environmental and social management is often not linked to the economic success of the firm
This lack of integration is a major obstacle to success
Printed on recycled paper-actually better, not printed at all

5. Printed on recycled paper-actually better, not printed at all
The correlation between environmental, social success and economic success
The literature is mainly based on empirical studies that refer to correlations but not to the causality between environmental and social measures and the economic success of firms
There is, however, a growing body of research examining the relation between environmental and social measures and the achievement of long-term economic goals
Printed on recycled paper-actually better, not printed at all

6. Printed on recycled paper-actually better, not printed at all
Suitability of balanced scorecard as a tool for sustainability management
Management should first identify and realize opportunities for simultaneous improvements in all three dimensions of sustainability (social, ecological and economic goals) in order to achieve strong corporate contributions to sustainability
SBSC offers the possibility to integrate the management of environmental and social aspects into mainstream business activities
Printed on recycled paper-actually better, not printed at all

7. Integrating Sustainability into BSC
Integrating the three pillars of sustainability into general business management (BSC) offers three major advantages
Sustainability management that is economically sound will be practiced in successful and unsuccessful economic periods – it is a blueprint
Sustainability management that also contributes to economic objectives helps to disseminate the idea of sustainable development in business, as it serves as an appropriate role model for other businesses.
a business improves performance with regard to all the three dimensions of sustainability simultaneously
Printed on recycled paper-actually better, not printed at all

8. Printed on recycled paper-actually better, not printed at all
The process of formulating an SBSC has to meet the following criteria to be effective:
must lead to integration of environmental and social management into business management
the SBSC is business unit specific
environmental and social aspects of a business unit must be integrated according to their strategic relevance
Printed on recycled paper-actually better, not printed at all

9. The process of formulating an SBSC
Printed on recycled paper-actually better, not printed at all

10. Small Company Example: “The Beauty Market”
Small cosmetics store in a Midwest city
In rental space of old building – appears a bit cluttered – makeup spaces, mirrors, etc
Carries large stock of packaged cosmetics from around the world
Branded as a sophisticated luxury shop – owner wants to be more eco conscious
4 regular staff
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11. Consider TBM as a Contained Business Unit, use Simple Model
Financial Perspective: How should we appear to our customers? Strategy:
To achieve our goal of greater eco-friendliness, promote a luxury experience via quality options combined with simplicity of packaging and approach
Example:
Actions
Measures
Evaluate current stock
Report: What stays vs changes
Evaluate space for moodernizing
Decision: move, stay, remodel, or “greenlease”
Etc. etc. etc. P