Towards a standardised management system for corporate sustainable development

Abstract

Purpose – The systematic implementation and assessment of corporate sustainable development is difficult in the absence of a structured approach. The existing management systems and frameworks do not provide a balanced approach to the management of the triple bottom line of sustainable development. The purpose of this paper is to explore the possibility of developing a sustainable development management system (SDMS) and provides a basic framework for such a system. Design/methodology/approach – The paper reviews the approaches that can be employed to embody the various elements of a SDMS – including underlying values, system requirements, continual improvement, and assessment approaches. Advantages and disadvantages of developing a SDMS are also reviewed. Findings – Descriptive guidelines augmented by prescriptive requirements could provide a comprehensive guide to corporate sustainable development management and assessment through a hybrid approach. A basic structure for the descriptive guidelines, prescriptive requirements, and assessment approaches is provided. Practical implications – The paper could provide a needed starting point for managers to structure their thinking related to their organisation's sustainability initiatives. Originality/value – The existing systems and guidelines addressing sustainable development are characterised by several limitations. This paper provides a unique framework for corporate sustainable development that has not been addressed in previous publications.