BUSINESS CASE FOR SUSTAINABLE DEVELOPMENT
Integrating Impact into Decision Making
Marc Epstein, Ph.D., Jones Graduate School of Business, Rice University
Dr. Marc Epstein
This project concentrates on the need of companies to integrate social and environmental impacts into management decisionmaking. The measurement and reporting of these impacts are key to corporate accountability. The project will develop the tools and techniques to evaluate effects of company products, processes and activities on both the company and society and will provide for a more complete analysis of all capital and operational investments. By ignoring future social and environmental impacts, company capital resource allocation decisions are flawed. The project will also examine company operational and capital investment decisions and the impact of these investments on financial performance through both earning and share price.
The project has been completed and a series of work based on the topic has been published. Dr. Epstein will also be releasing a new book in January 2008 with the title Making Sustainability Work: Best Practices in Managing and Measuring Corporate Social, Environmental, and Economic Impacts.
(a) Identification and Use of Sustainability Performance Measures in Decision-Making, Marc J. Epstein & Sally K. Widener, Journal of Corporate Citizenship, February 2011, Vol. 40: 43-58.
(b) Facilitating Sustainable Development Decisions: Measuring Stakeholder Reactions, Marc J. Epstein & Sally K. Widener, Business Strategy and the Environment, February 2011, Vol. 20: 107-123.
For More Information:
Work: Best Practices in Managing and Measuring
Corporate Social, Environmental and Economic Impacts, 2008, Greenleaf
Corporate Sustainability: Measuring and Managing Social and
Environmental Impacts, Strategic Finance, January 2008.
Managing Social and Political Risk (with Tamara Bekefi),
Strategic Finance, February 2008.
Social and Environmental Risks into Opportunities (with Tamara
Bekefi), Strategic Finance, March 2008.
Get Paid to
Do Good: The Role of Performance Evaluations and Reward Systems,
BSR Weekly, March 25, 2008.
Sustainability Work: Managing and Measuring Impacts, BSR Weekly,
Corporate Environmental Strategy: Establishing Coordination
and Control within Multinational Companies (with MJ Roy), Business,
Strategy, and the
Environment, September 2007.
Social and Political Risk Into Management Decision - Making (with
Tamara Bekefi) Society of Management Accountants of Canada and American
of Certified Public Accountants 2006.
Epstein, Marc J., R. Bagozzi, P.S. Wisner. 2006. "Organizational
Antecedents and Consequences of Environmental Performance." Advances in
Environmental Accounting and Management
Epstein, Marc J., P. Wisner. 2005. ""Push" and "Pull" Impacts of
NAFTA on Environmental Responsiveness and Performance in Mexican
Industry." Management International Review
Epstein, Marc J., K. Schnietz. 2005. "Exploring the Financial Value
of a Reputation for Corporate Social Resonsibility During a Crisis."
Corporate Reputation Review
Epstein, Marc J., P. S. Wisner. 2005. "Managing and Controlling
Environmental Performance: Evidence From Mexico." Advances in Mangement
Epstein, Marc J.. 2005. "The Payoffs for Corporate Social
Responsibility: A Conversation with Marc J. Epstein." Cost Management
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