Sustainable Management

Accounting Sustainable Management The organization's emphasis towards the sustainability is increasing as a response to the scarcity of natural resources and the negative effects on environment by means of ecological hazards. Therefore, the organizations are adapting their business procedure to utilize such resources that are cost effective and environment friendly so that they can earn profits and can remain environment friendly by having a positive image in the society by addressing their social accountability.

Sustainability Sustainability and its Relevance to Business and Accounting Sustainability and its Relevance to WML Implication of Sustainability in WML The current study has been conducted in order to analyze the strategic practices of Wave Master Ltd. (WML) with respect to sustainability. The sustainability of a company indicates the extent to which the company is playing its part in the safeguard of biological systems and the extent to which the company is considered as environment friendly.

The sustainable practices drive the organizations to indulge in the substitution of current resources that are considered as cost effective and environment friendly; thus, the organizations can create a positive image in the market and among its customers by being accountable towards the ecosystem as well as can make production processes cost effective and generate profits in the future.

Introduction The trend related to the diversification of business processes towards sustainability is increasing and organizations are adapting sustainable measures to modify their traditional businesses in order to reduce the extent to which the natural resources are being deteriorated. Moreover, the technological advancements have made the business sustainability profitable by making the businesses rely on environmental friendly sources that are easily found as alternatives to traditional sources. The current study is aimed to identify the feasibility for the adaption of sustainable procedures in the Wave Master Ltd.

(WML) and analyze if the sustainable practices are profitable and relevant to the business model of the company. The findings of the study are aimed to provide the directions in which the company can take suggestive practices in order to utilize the sustainable practices in the business procedures with respect to production and can ensure its accountability towards environment safety.

Moreover, with the utilization of sustainable practices, the dependency of the organization on the natural resources will be reduced and the company can use substitute material for its production purposes in order to reduce cost and generate profits. The limitations with respect to the sustainable practices exists because the company cannot remodel all of its procedures in order to become environment friendly as the implications for being sustainable will take an adequate course of time in order to implement and carry out the sustainable practices.

However, the company's adaptability depends on its urgency of being adaptive and its capability to implement such practices but an adequate period of time is required for the company to carry out its remodeled sustainable production procedures. Moreover, the availability of substitute resources in order to meet the demand fluctuations for its products can also be critical for the company and thus requires perfect planning.

It has been assumed that the WML Company is producing surfboards and is planning to shift the type of its raw material towards the "moso bamboo" which are considered to be cost effective and are regarded as best material for the production of surfboards by being two times durable than the company's current production material of bamboo.

It has been considered that the organization's Managing Director has required the feasibility report related to the organization's diversification of sustainability and hence, it is required that the company analyzes the alternative yet, cost effective source of production by using moso bamboo material. However, it is required that the organization's tendency of being sustainable is not over looked with cost effectiveness and hence, the sustainability report is required to be shared with its stakeholders to analyze the alternatives.

Therefore, analysis has been taken place in order to prove the effectiveness of sustainability in the interest of business and accounting. Discussion Sustainability Sustainability refers to the tendency in which an organization is considered to impose the minimized negativity on the environment in which it prevails either globally or locally. Sustainability indicates the attempt to make the environment and biological-systems safe and productive without implicating any negative activity which results in its deterioration. It is also inferred as the endurance that is being provided to the biological-systems in the world.

These biological-systems are considered to be important for the survival of life and to maintain the balance of nature. The sustainability by means of environmental safeguard can be provided by reducing the flow of toxic substances in the environment and by reducing the devastation of natural resources. The government policies exist in the world that promote the sustainability of the environment while carrying out the general activities that are being conducted by humans for their own benefits (Hall and Vredenburg, 2012).

The environmental hazards by means of climate change in which there is a continuous emission of carbon dioxide and resource depletion in which the natural resources of energy has been decreasing due to increased consumption. There is also a reduction in forestry and natural wetlands due to the increased demand of production and release of toxic wastes. This has altogether implicated a negative effect on the ecological environment and has made it difficult for the ecosystem to promote healthy life.

However, sustainability provides the safeguard to all these concerns in which organized principles are used to carry out the life related activities that are strongly based on the consumption of natural resources in an efficient manner so that they don't impose negative effects on the environment. The remodeling of procedures takes place in order to gain sustainability by introducing such processes that in which such resources and practices are used that help to reduce the environmental deterioration and the endangerment of natural ecological and biological systems.

The idea of achieving sustainability is being held together by the concerned authorities in order to address to these environmental hazards as a part of their social responsibility which also shares the notion of making the natural resources available for longer period to recognize and develop alternative resources in order to meet their demand of consumption for energy, food and healthy environment. The ever increasing population on the planet has made the natural resources scarce and has caused a threat towards the environment.

However, its habitants and the notion of sustainability can reduce this threat and can reduce the environmental hazards. Sustainability can be achieved with the technological advancements in which the identification and utilization of alternate resources tend to be attained (Carroll and Buchholtz, 2014). Sustainability and its Relevance to Business and Accounting According to Bebbington et al., (2014), sustainability is considered to be relevant to business due to the social responsibility for which the businesses are accountable.

It is necessary for businesses to make their business processes sustainable in order to meet the future demand for natural resources by means of reducing their scarcity. The sustainability practices when adopted by business corporations and its prevalence shapes the future in a healthy and resourceful manner. It has also been incurred that the economic achievements can be accomplished by making the businesses sustainable or environment-friendly.

The business corporations can make their business processes sustainable by remodeling the procedures that implicate negative environmental effects and can replace these procedures with such environment friendly practices that generates profits and makes the accounting period positive. According to Esau and Malone, (2013), the companies have to strategically analyze their business procedures and then examine the negative effects that are being imposed on the environment and biological systems of the planet.

The company can analyze its process by means of overall carbon dioxide emission and toxic wastes and can also analyze the natural sources of energy that is being utilized in the business procedures. Moreover, the raw materials procured in the companies can also generate negative environmental effects by means of deforestation. Hence, the analysis of procedures can provide the direction in which the company should divert its business procedures to be sustainable and identify the alternatives in order to substitute the pre-existed methods.

These alternatives are usually found to be cost effective because the scarcity of existing natural resources has made them expensive and thus, cost effectiveness can be achieved by the businesses. Moreover, when the organizations tend to adapt its business processes in order to become sustainable then these organizations develop a sustainable image in market and among its customers to attract a large number of customers towards its products.

The increasing trend of customers' giving preference to such products and services that are environment friendly has been increased in the past few decades and the companies who strive to become sustainable can actually achieve sustainability in their business processes and products and can attract a large number of customers thus eventually indicating the profitability in their respective accounting periods (Epstein and Buhovac, 2014). According to Gibson (2013), the organizations' capability to become sustainable is enhanced with the efficient utilization of natural resources.

The adaptive procedures in accordance with sustainability ensure the aggregated positive effect on environment and can make the scarce resources last for long; thus can generate the ecological sustainability with respect to the economic benefits on the organization. Moreover, the policies formulated by the government and legal regulations in accordance with the adaption of sustainable practices in the organization has increased the requirement for the organizations to response towards their regulations by adapting the sustainable practices.

According to Herrmann et al., (2014), the organizations that have improved their business process have proven themselves to be sustainable in the long run. Henry Ford, being the initiator in sustainability, remodeled its business procedure by using fuels of plant-based and, therefore, creating a sustainable business process which also proved to be cost efficient.

Moreover, significant diversity has been seen in the 21st century in the organization's adaption of sustainability in which companies has remodeled their business procedures by utilizing bio-diesel as a source of energy and are considered as cost efficient than traditional fuel. In this way, the organizations are changing their trend towards the sustainability in order to make their business processes efficient and cost effective.

Sustainability and its Relevance to WML The WML Company is producing the skateboards which are made of bamboo that is found locally in the region, however, the company has planned to move its production processes to Fujian Province where natural resource of moso bamboo is present and the company is planning to utilize the moso bamboo for the production of skateboards.

The notion has been generated with respect to the utilization of moso bamboo for the production of skateboard because the company's research center has proven the exalted material quality than its local bamboo and has indicated that the moso bamboo are twice as tough with respect to the local bamboo and thus, are considered to be feasible for production in order to provide competitive edge to the company by meaning of its quality of material and low cost practices.

The production of skateboards at a low cost with increased quality will require the deforesting of the plantation which is not considered as a sustainable practice to be adapted by the organization. There exist hazardous effects of deforestation on the environment and human life and causes soil erosion in the areas and make the land infertile forever. According to Poore (2013), deforestation increases the threat to inhabitants during the flood because trees are considered to be an effective source that withholds the flood and prevents its expansion in the region.

Moreover, deforestation causes adverse effects on the environment in which the carbon dioxide emission in the environment increases and causes the climate change. The increasing rate of carbon dioxide in the environment has resulted in an increase in the annual average temperature of the world. Moreover, the gradual change in climate has been accounted as an international issue that concerns the business model of the companies. It has been observed that the weather configuration for a specific time changes and persists for certain time duration which indicates the climate change.

This change takes place by means of its average properties that prevail for an extended time (Kolk and Levy 2001). The change in the climate occurs due to volcanic-eruptions and biotic procedures whereas, there also exists the contribution of certain human activities that cause a gradual change in climate and the procedure is characterized by global warming. Therefore, the companies are accountable towards the social responsibility of preventing natural biological systems by means of Corporate-Social Responsibility, which is required in order to prevent the negative environmental effects.

The organizations are required to maintain its image in the industry because the customer's trend with respect to environment friendly products has been increased and customers prefer the products that are sustainable in nature. There also exists government regulation with respect to deforestation and the companies that are involved in deforestation for the production purposes are held accountable and are considered as a threat for the natural resources (Shakil, 2014). Therefore, the idea of WML Company to divert its production material to the low cost and high quality material i.e.

moso bamboo is not considered to be sustainable as per the rationale of being environment friendly and if the company continues its diversification of material towards moso bamboo then the company will be neglecting its social responsibility towards the preservation of the environment. Implication of Sustainability in WML In order to implicate sustainability in WML Company, it is required that the company analyses its overall business producers that are being conducted in the company.

The company needs to analyze its current procedures in order to identify the areas in which the company is contributing in the hazardous activities that possess adverse effects on the environment and biological systems. The company has already initiated the concept of being environment friendly by using the recycled material for its products and utilizing the material from the fast growing bamboo trees.

The company can become more sustainable by implicating sustainable processes in its distribution department because the company owns its own fleet of trucks, therefore, the company can optimize the quantity of fuel that is being consumed in the production process. The company can redesign its distribution routes in order to minimize the distance to be covered by the trucks so that the utilization of fuel can be reduced.

Moreover, the company can replace its truck fleet with the fuel efficient vehicles or the vehicles that use alternative energy sources like H-CNG which is proven to be as efficient as gasoline and emits three time less carbon dioxide in the environment. In this way, the future business prospects of the company can remain sustainable and profitable during the depreciation of oil-reservoirs (Alcorn and Kenny, 2007).

Moreover, the company can also make its production processes more energy efficient by reducing the level of heat and power used to an optimum level and reduce the waste of energy perhaps consider the substitute by means of Solar or Wind energy for the production processes.

Since the energy produced by solar and wind resources is considered to reduce the emission of carbon-dioxide and provides a vast prospectus for the company diverse in sustainability because this alternative resource of energy is also considered to be one of the fast growing resource of energy and is proven to be cost effective and can directly impact on the accounting prospects of the company by means of profitability (Burton et al., 2001).

It has also been described in the cause study that the company possesses its own research and development department; therefore, the company can utilize its sources and research manpower for the fast production of moso bamboo and in this way, the company can get the cost effective means of production and reproduction of bamboo and can increase the quality of its products. The company can utilize the potential of its.