It supports innovativeness and flexibility, but at the same time attempts to ensure profitability in the long run." (Bhimani 2003:250) The idea of the bottom line must also be changed to incorporate non-financial measures as well, otherwise this cultural change would be futile. Thus the concept of a 'Triple Bottom Line' has been created with three areas of responsibility: corporate, social and environmental, otherwise known as the three P's: People,

Financial Performance: Caterpillar Caterpillar, the preeminent leader in the manufacture and supplier of earth moving equipment is the quintessential growth success story in the rapid economic globalization of the past three decades. Caterpillar's growth engine relies not just on the stable and dependability of the developed G-8 economies, but also in the inchoate opportunities presented by rapidly increasing developing economies such as Brazil, China, and South Africa. The Caterpillar narrative is

environmental, social and governance (ESG) performance and financial performance of companies Investors are increasingly recognizing the fact that ESG (environmental, social, corporate governance) elements can substantially affect companies' security rates and financial performance. The aforementioned components' contribution to financial markets has been growing with the rise in number of ESG opportunities and risks within the contemporary international economy. Timely and improved organizational policy-related data access and the effect of organizational

Financial Officer For most parts of history, government financial executives have been taken as scorekeepers, and made responsible for collecting, processing and reporting the financial information that used by elected officials and senior managers who use them in making their decisions. The question is whether their role has now changed with the present importance of information technology. (From Scorekeeper to Business Partner: The Evolving Role of Government Financial Executives) Now there is

Synthesis With the operational environment becoming ever more competitive, and against the backdrop of austerity in resource management, the importance of performance-based management (PBM) cannot be overemphasised. Indeed, PBM has increasingly become a common practice in organisations of different sizes -- small and large -- and in diverse sectors -- manufacturing and service, as well as public and private sectors (Ploom & Haldma, 2013; Lutwama, Roos & Dolamo, 2013; Rivenbank, Fasiello

budget process, "make" or "buy" decisions, and non-financial performance measures. The initial budget process starts with the existing budget, and the information in this budget should be verified, and reconciled against actual performance. You have to know that your starting point is accurate. The second step in the budgeting process is to determine the information flows and measures that will be used to create the budget. A budget depends on