Bottom Lines and Sustainability Construction †MyAssignmenthelp.com

Question: Discuss about the Bottom Lines and Sustainability Construction. Answer: Introduction H-Young is a reputable international company that specializes in building and construction. However, the firm has often been challenged with the realization of the sustainability as part of the objectives and goals in operations. Such a scenario has been enhanced by the idea that the organization cannot institute an effective framework for measuring their degree of sustainability, which enhances the development of the triple bottom lines (TBL). The concept used in the TBL allows for the measurement of value in relation to the environmental and social dimensions. Besides, the approach aims at evaluating the outcome of investments made by the company based on performance to account for the sustainable goals[1]. The upfront has enables the widespread use of the TBL in accounting for performance at various levels. For such reasons, H-Young Company has fully incorporated the technique in managing the organization and part of its corporate strategy. For example, development of a measure to sustainability for the employee's performance and welfare of the organization has been improved through the TBL framework. The H-Young Company has a primary focus on civil and structural construction, which exposes most of their activities to social, environmental and economic challenges, site clearance, trees removal, excavation, and resource utility among others. However to assist in the realization of sustainable construction various policies have been adopted. For instance, the environmental policy influences approaches to conservation and sustainability. As well, the Global Reporting Indicator has been used in providing financial frameworks in the company. Challenges faced by H-Young Company in Sustainable Construction In the process of enhancing construction activities, the company is likely to realize various difficulties in social, environmental and financial management based on the assessment methods and rating systems in performance. For instance, under the sustainable construction and environmental policies, H-Young will be challenged by the waste reduction methods and recycling of waste materials that could be dependent on the site of construction. As well, financial constraints will be enhanced through the inappropriate energy use and establishment of alternatives in addition to fulfillment of legal formalities. Furthermore, the employees have demonstrated poor social skills in interacting with their colleagues and the surrounding community due to the poor training sessions and lack of public awareness on procedures and personal responsibilities. On the same note, the construction activities might have huge impacts on the society creating commotion in the neighborhood. Therefore, the compan y has a challenge in meeting the improving and enhancing efficiency of their objectives and targets. The triple bottom line can be referred as an accounting framework used for the incorporation of the three different performances dimensions in the company that includes, financial, environmental and social approaches. Such a provision demonstrates the significance of the technique in sustainable construction making it different from the traditional reporting framework that does not include the three variables[2]. However, the firm still has a responsibility of assigning the effective methods of measure in from the TBL to estimate the sustainability. In such regards, the dimensional factors are highlighted to enhance the measurement that is people planet and profits. More so, the triple bottom line has enabled the development and practice of sustainability by measuring the effects of the organizational activities in the in the different operations of H-Young across the world that entails the value and profits of the shareholder and its relation to the social, economic and environmenta l capital. Nevertheless, the different pose difficulty in the measurement of the 3Ps of the TBL since they do not form a common unit, like profits can be approximated in the dollar, while social capital and environmental health have no defined units[3]. In response, some individuals have suggested the monetization approach to the environmental damage and social welfare top assist in the calculation of the TBL. Such a proposition has been objected due to the challenge of quantifying the endangered species among other environmental components on philosophical grounds. Besides, calculating the TBL based on indexing has been proposed to eliminate the issue of incompatibility between the different aspects, like the comparison of the H-Young performance between nations, development projects or stations. Meanwhile, the metric involved in the calculation of the TBL should be considered in deciding on an appropriate method of calculation. Nevertheless, in deciding on the effective metrics to include in the triple bottom lines measurement, the corporate members agree that no standard principle would apply to such effect[4]. Such a consideration indicates that no technique is universally accepted in the estimation of the sustainability in the different frameworks. However, such a ruling shows the flexibility of the approach and strength as it allows the person estimating to adopt a general framework that would fit the different needs of the organization towards the environment or construction project. Despite the ability of the other businesses or governmental agencies to estimate the environmental sustainability on the index or common units, like dollars, H-Young would break it down to the shares per earnings since the framework can keep up with the variations[5]. The triple bottom line has indicated the specific and wide range of impacts on the geographical landscape, which indicates its relevance in estimating the in frastructural projects at different levels. However, the level of engagement of the geographical scope, project type, and entity level would provide a measure to the decisions provided in the in the sustainability framework. Besides, the appropriate use of the sustainability measurement influences the triple bottom line calculations. For example, the economic measures involve the flow and bottom line of money by considering the incomes, taxes, expenditures, climatic factors and diversification factors. The economic variables will entail personal income, underemployment cost, the growth of opportunities, revenues, and distribution of the in the economic sector. As well, the environment measures have a representation of the natural resources and show the level to which the company influences its viability. For instance, concentration or sulfur dioxide, nitrogen oxides, priority pollutants, excessive nutrients, electrical consumption, fossil fuels, management of solid waste and change in land use in the surrounding region the company is established. Global Reporting Indicator (GRI) and sustainable development Through the use of the GRI mechanism, the company has ensured transparency and accountability of its activities to achieve the social, economic, and environmental objectives. As well, the accounting framework allows for open and clear communication on sustainable construction. Meanwhile, the social variable in the measurement of TBL will entail the impact of the company on the social impacts presented in the company in the community, like life quality, social capital, health, education levels[6]. Other social implications might be determined by assessing the rate of unemployment, gender composition, poverty levels, health, incomes, and literacy of the population among others at local and international level. Such considerations will enhance the development of an effective measurement to different TBL dimensions. Besides, the approach provides appropriate ways of dealing with the participation and input of the stakeholders in the company by establishing a decision matrix for the incor poration of the public preferences in decision-making and project planning. For example the use of a narrative formulation in soliciting the contribution of the shareholders in project evaluation and estimation of the components of TBL sustainability framework based on the community preferences. For example, within a certain region, the success can be measured by the number of women employed in the organization as part of female empowerment and entrepreneurial development program. Despite such influences, H-Young will have the ultimate responsibility of producing a final set of applicable measures to the project at hand. The application of the Triple bottom line by companies or businesses has motivated the development of environmental, economic and social sustainability principles in measuring the three different outcomes. However, challenges have been encountered regarding the use of the TBL in the sustainability assessment. Such a move has been driven by the fact that realizing a comprehensive and standard index for the measurement as well as the identification of the appropriate data to include in the TBL is difficult due to the presence of variation measurements. For example, the incorporation of the genuine progress indicator encompasses 25 variables in gauging the social, economic and environmental factors in the company that can be compressed into a single entity[7]. Besides, various sustainable and integrated assessment variables can be included in the study to allow for the measurement of the environmental implications to attain the goals of the firm in sustainable construction. Relationship between the TBL and sustainable development H-Young has utilized the triple bottom line as the main system in assessing profits made in the development of sustainable corporate solutions. Such a move indicates the significant relationship between the sustainability and TBL in the realization of social, environmental and economic projects. Besides, the approach shows the role of the TBL as an indicator of the company's sustainable construction by providing the best markers to enhance the quality of life. From the social sustainability approach, the triple bottom line provides a measure of the accrued profits in the business as human capital in the different regions the firms is located. The social bottom line can be enhanced through improving the fairness and benefits to labor providers in the company through the corporate community initiative[8]. As well, whenever H-Young does not seem to build positive relationships within the community, the client's foundation and worker's pool is likely to reduce simultaneously. Such a cons ideration indicates that the lesser the wage, the higher the chances of the company surviving in the region because it will afford to operate for an extended time. Nevertheless, the social bottom line shows the sustainability of the company's human capital in the long-term based on the understanding of the nature of the business operations within a particular environment[9]. Therefore, the interests in labor and corporation are interrelated despite the challenges encountered in public relations during measurements. Further, the environmental sustainability is likely to be realized when the impacts of the construction activities are less subjected to the environment or do not tamper with the natural resources available. In such a regard, the company will maintain its posterity in the region increased its success. However, to control the environmental bottom lines, the company has to demonstrate its efficiency in monitoring, management, and reports on the consumption of wastes and emissions. Through showing compliance to the environmental health guidelines, the firm will realize sustainable business models to reduce the wastes and incorporate the green policies at various levels of management. As well, to assess the environmental impact, the company will assign a sustainability committee to handle the same to enforce laws and provide solutions to the possible challenges. In such a case, assessing and reporting the environmental bottom line seems to be simplified and possible depending on the size of the business. However, the process can be time-consuming and complicated if the H-Young increases it size or measures all the sub-stations across the world, causing variations in data. As a result, technological advancement has enabled the adoption of software to improve the measurement by providing a quick and cost-effective approach to sustainability assessment. Similarly, economic sustainability does indicate the traditional corporate capital in the company alongside the human and environmental capital. Such a consideration suggests that the economic capital can be estimated by the implication of the company towards the economic environment[10]. However, H-Young is likely to strengthen the economy in the located region by complying with the economic policies, which will enable to survive in future. In such a regard, every company should be aware of the existing triple bottom line accounts in addition to the traditional profits to add some value in the economy. Besides, the TBL concepts will increase the understanding of the company's management to enhance its position in the economy since the corporate sustainability provides room for measuring the firm's ability. Such measures will take place considering the company's environmental implications, relationship with the surrounding community, and its significant contribution to the economy. F rom such a provision, triple bottom line enables one to visualize the business as a both as an environmental and social entity that can exhibit variations during measurement. Significance of the triple bottom line in sustainable construction The triple bottom line and the sustainable economic development have shown assistance in the understanding of the need for economic development. Such a move has created an improved state and quality of life through the increase in employment opportunities and wealth accumulation, which enables the expansion of the company, retention of employees, more recruitments, and creation of jobs for people in the community in different ways. For example, the increased development in the workforce, corporate assistance, growth of network and expansion of infrastructure among others elements that support the organizational development and influences its decisions are illustrated in the TBL. Besides, the approach adds to the recognition of the social and environmental factors that operate within the firm in three dimensions to enable the company to succeed[11]. In such a scenario, the economic developers in the organization will expand their social, environmental and economic aspects while decidi ng on investments due to the presence of the interdependent factors that contribute to the closure of the gaps in the economy. However, poor understanding and interpretation of the triple bottom line concepts may pose a challenge to the realization of the business objectives since it limits the planning, administration, and sustainability in construction. On the same note, the composition of the community and the company will increase the implementation of the TBL approaches through increased awareness and enlightenment, while inadequate capacitation, little understanding, and low social status impede the uptake of the TBL concepts. As well, considering the fact that economic development is likely to occur in highly competitive environments, the success of the TBL in ensuring sustainable construction will be ill-defined. Such a case is attributed to the fact that outcomes are affected by external factors that cannot be controlled by the company. However, the sustainability will be impeded by inadequate integration and coordination on the environmental, social and economic policies and programs in relation to the TBL principles and trade-offs in the required goals. Furthermore, the economic sustainability approaches are not essential in the professional and academic accreditation in economic developments that can be translated into the inadequate knowledge and skills to incorporate the concepts to put into practice. From such a remark, the sustainability construction requires no accreditation based on competence in the theory and practice of triple bottom line. However, to improve the well-being of the individual s, economic development should be dedicated towards the generation of jobs and creation of wealth through incomes. The conventional approaches to the triple bottom line can be challenged by examining the deleterious trends in the company or community, like increased income disparity or costly developments associated with environmental implications. In such a way, the TBL approaches have a successful economic development pattern that can serve in the controlling the sustainability framework for research and programming[12]. Therefore, TBL concepts are vital in the helping the firm advance the theory and practice of the sustainable economic development projects, like construction. In training and certification, professional organizations have shown the importance of sustainability related content in projects and programming. Such a necessity has enhanced the room for expansion of efforts based on the TBL approaches to add to the key competencies of the required in certification. As well, learning institutions have adopted mechanisms of offering economic development courses to enhance sustainability through the provision of the basic knowledge and skills as part of the curriculum development. Therefore, training and certification help the employees to develop the necessary standards for ensuring accreditation for planning and business programs through attaining the minimum qualifications for sustainable construction. In the assessment, the triple bottom line plays a significant role in attaining sustainability despite the presence of challenges of in the environment. Besides, the literature on assessment shows the implications of the sustainable development can be minimized by focusing on the negativity as opposed to the alignment of the company to realized good outcomes and preferred results. Furthermore, the extensive resources required by an organization to assist in the analysis can be terminated causing the poor performance in the project and associated activities in addition to poor integration and decision-making approaches. However, the several challenges experienced during the post assessment of impacts have been identified to enhance the data collection and analysis resources with limited ability to promote the causal attribution. Furthermore, the TBL concepts in assessing sustainable construction have been indicted reduced uptake in the company to due to the absence of the incentives t o utilize in the process. For instance, the American TBL tools used in the meeting the requirements for a research, industrial and user-friendly assessment tool for sustainable construction[13]. However, the online platform used in the design, assess and communication of the project alignments in economic development based on the significance of the economic goals, stewardship of the natural resources, while ensuring the well-being of the community. Such a consideration indicates that the user-defined information and data sets are essential in the determination of the level of investment alignment based on the sustainable outcomes. For instance, the accessibility of a location, relative wages and the proximity to natural resources based on the mode of action of the company. Nevertheless, the activities should ensure that they comply with the certification of the green construction, engagement of the community and creation of jobs from the available information. In such regards, the TBL tools will be implemented based on the investment approaches and future versions on unknown locations, which are subject to review due to the demonstration of various factors inhibiting the sustainable construction. Therefore, from the assessment, the effective tool for project evaluation will depend on the productiveness of the of the TBL tools to assess the sustainable economic development projects. For incentives, the economic developer will come up with an effective strategy of reviewing the triple bottom line to increase the level of interaction between the economic development professionals revealing their concerns towards the project. Such a consideration will enhance the formulation of a reward system to enhance the responsibility of the workers and the community with respect to the development agendas. However, the challenge in the approach could be the realization of development incentives to promote the performance of the TBL objectives in the company. Besides, professional standards will be implemented to assist the developers in accounting and designing the appropriate sustainable development incentives without tampering with the project activities. Besides, on a research basis, the TBL concepts will be demonstrated increased opportunities for the development of productive research on the sustainable construction. For instance, the integration and extension approaches portrayed in the assessment surveys are key in the realization of the company's objectives. However, the absence of uniformity in the in the formulation of the sustainability questions creates a challenge in the analysis of the three TBL dimensions as well as the lack of critical questions on the major topic precludes the understanding on the significant sustainability issues. On the other, the demonstration of efforts in the coordination of the goals helps in improving the understanding of the differences between the three groups, while enabling the opportunity for changes in attitudes, priorities, and actions with time. Conclusion Consequently, the research demonstrates the importance of understating the Triple Bottom Lines in the realization of sustainable construction through the provision of standards and analyses on the concepts towards economic development. However, the TBL approaches are likely to influence the mechanism of dealing with the challenges encountered in the achievement of sustainability, like professional development, training, and accreditation programs among others that must be integrated and implemented in sustainable construction. In such a consideration, the TBL is significant in the achievement of a sustainable economic development process in the organization. References Alcamo, J., Bennett, E.M. 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