Informed Decision-Making

Improved Essays
An uninformed strategy in dealing with the environment and sustainability issues can cause severe pecuniary loss on the reputation of a company. There are many well-known examples where sustainability have almost killed the existence of a company, the platform oil accident in Mexico by BP is a well-documented example (Ludeke-Freund & Zvezdov, 2013) (Hopkins, 2011). The significance of the social impact and environmental influence on the performance of a business must not be ignored any longer. Companies are now learning the lesson on the importance of informed decision making and they are looking at accounting as a central information system that can be used to address sustainability challenges (Zvezdov & Schaltegger, 2015b). The accountants,

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