Monitoring includes measuring performance versus goals as well as other means of periodic oversight and evaluation of conditions or performance. It may be undertaken in a variety of ways, such as through inspections, audits, interviews, observations, or measurements. Monitoring can be qualitative - based on good informed judgement - or quantitative - based on measurement. Two quantitave evaluations than can be important are he periodic assessments of teamwork and communication, though it has some drawbacks like as it is based on judgments, it can sometimes lead to disagreement and debate, creating resentment rather than more enthusiastic support.
Quantitative monitoring- tracking things like air pollution concentrations, discrimination claims, and earnings per share - can pose problems, too. Numerical measurements are not always simple, and data integrity can be particularly troubling.
Indicators help understand where the enterprises are, which way they are going and how far they are from their target goals. A good indicator alerts enterprises about the problems before they go too bad and helps them to recognize what they needs to be done to fix the problem.
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Indicators of a sustainability helps to analyse, measure and monitor the links between the economy, environmental and societal. These indicators allows to see the where the problem areas are and help find the ways to fix these problems. These indicators reflect that the three different segments of the economy, environmental and societal are interconnected as highlighted in the following figure:
The Role of Indicators:
To assess progress towards more sustainable forms of enterprises, there is a need for relevant monitoring systems. Ideally, these systems should focus on assessing the extent to which existing best practices in enterprises are aligned with, help to achieve, core sustainability goals. In this regard, sustainability monitoring should be focused on examining progress towards reaching a combination of ecological, social and economic imperatives (Arrow and Bolin, 1995; El Serafy 1991; Goodland and Daly, 1996)
Indicators can be used to measure progress towards sustainability goals, and when tracked over time, can help identify trends in the condition of a phenomenon that has significance beyond that of measurement itself (Dilks, 1991).
Indicators used for assessing progress in the sustainability area should:
Be selected on the basis of input received from a broad base of stakeholders;
Be designed to meet the varying informational needs of these different audiences;
Include objective measurement ( e.g. Biophysical measurements such as water quality parameters);
Include subjective measurements (e.g. Stake holder perceptions and attitudes);
Signal where necessary the need of comprehensive studies of more complex relationships (Malaren, 1996).
Also, the Harger and Meyer (1996) paper recommended the following characteristics for Sustainable Indicators:
Should be Simple to use and analyse
Indicators should cover the range of issues evolved in (environmental, social and economic) and overlap as little as possible;
Indicators must be Measurable
They must be time determined and can be measure periodically
Should be manageable and can be changed with time
The Coca Cola Company:
The Company Coca-Cola is widely known all over across for its beverages, where Coca-Cola being the flagship brand. Company has roughly 300 bottling partners running around 900 manufacturing plants operating n more than 200 countries.
Established in 1886, The Coca-Col Company markets more that 2600 beverage products which includes sparkling and still beverages, such as water, juices and juices drinks, teas, coffees, sports drinks and energy drinks. The most famous and top five sparkling brands of Coca Cola company are - Coca-Cola, Diet Coke, Sprite and Fanta.
Company has headquartered established in Atlanta, Georgia, and is structured across seven operating groups, in addition to Corporate. At the end of 2006, Company has 71000 associates, and as of January 2007 operating structure consisted of Africa, Eurasia, European Union, Latin America, North America, Pacific and Bottling Investments. (http://www.thecoca-colacompany.com/ourcompany/pdf/corporate_responsibility_review2006.pdf).
The Coca Cola Company manufactures and sells concentrates, beverage bases and syrups to bottling operations, which then produce a wide array of Coca-Cola Beverages. However, Coca-Cola owns the brands and is responsible for consumer brand marketing initiatives. Whereas, Companies bottling partners, in addition to manufacturing the final branded beverages handle merchandising and distribution. (http://www.thecoca-colacompany.com/ourcompany/pdf/corporate_responsibility_review2006.pdf)
Always on Time
Marked to Standard
Total Global force of Coca Cola Company as on 31st December, 2006 is 71000. Whereas, Water being the main ingredient for its beverages has an overall consumption of 300 billion litres in 2006. Total energy consumed by the enterprise is 55 billion mega joules in year 2006. The company generated solid waste of 1.20 metric tonnes in year 2006. (http://www.thecoca-colacompany.com/ourcompany/pdf/corporate_responsibility_review2006.pdf)
Sustainable Dimensions relevant for Coca Cola:
The Coca-Cola Company is a multi-national enterprise having operations in over 200 countries and thus has to possess a very stable and well monitored Sustainable Development programmes to have flourishing businesses and well reputed brand.
Relevant dimensions for sustainability and sustainable development for this enterprise are as following:
Societal Sustainability: This dimension helps company to develop and meet societal needs, facilitate societal aspirations, satisfy societal standards, culturally, ethically ,etc., ensure awareness and education. This dimension deals in broad spectrum such as community welfare, work force management. Having operation is around 200 countries with workforce of 71000 associates, it's difficult but way important to develop societal sustainability for sustainable business. The company was accused and had allegations that it is responsible for violence against union leaders in Colombia. Coca Cola was even accused by farmers in India for utilising water of around 300 billion litres annually and with leaving the waste of chemicals which makes the area dry and highly acidic for agriculture and community. Social dimension possess wo further dimensions at its heart. The first dimension is the depletion of natural resources that fuel a community's economy. Fall in water level in Indian village left so many farmers digging earth up to 450m for search of water to find nothing has left their farms barren. Whereas, Second Dimensionis the loss of the economic base of a community because of the relocation of global corporations seeking cheeper laborr and materials, less stringent environmental regulations, etc.
Economic Sustainability: This dimension works in the area of economic development i.e. Supply affordable resources, provide affordable technologies and services, and facilitate attainment of good standard of living. Sustainability cannot be achieved unless understanding of he economic dimension goes beyond the present thinking that economic growth is the only important measure of economic well being. The economic dimension of sustainability involves the need to create for posterity an ecologically balanced and socially just economic system that provides humans with goods, services, economic justice, and meaningful employment necessary for a high quality of life.
Environmental Sustainability: This dimension has evolved a major concerned for world watchers and new fashion for enterprises for a brand management. This include various factors for enterprises to act responsibly for instance like: Maintaining a healthy and esthetical, pleasing and utilizable environment, Keep environmental impact as low as reasonably possible and Remediate environmental damage as appropriate. In Reality, economic and social dimensions are interrelated. Strong sustainable development is charcerized by an improvement in all three dimensions. The best way to improve eco-effifciency is to reduce harmful environmenatal impacts. For example: Environmental impacts can result in economic impacts for instance minimizing toxic elements can help forbid clean up cost.
Technological Sustainability: One of the important dimension which helps enterprise to control or generate other three core components of sustainability. IT deals in areas like: Supply natural resources, Accommodate green and environmentally friendly technologies, provide well educated and skilled work force, utilize life cycle assessment, and utilize industrial ecology.
Understanding of Sustaianbility by Coca-Cola Company
Coca Cola manages its far-flung business operations and bottling relationships through a form of enterprise management system called the System. The System links company owned operations, joint ventures, independent bottlers, and other supplier to achieve sustainable success. Company believes are presented by their understanding and creation of economic value while nurturing and protecting the people and natural resources for the future.
Coca Cola has established four principles of citizenship for sustainable development as there vision which are outlined as:
Refresh the Marketplace: Company must respect ethical standards, knowing the quality of their products, the integrity of their brands, and the dedication of their people in order to build trust and strengthen relationships.
Enrich Workplace: Company treat each employee with dignity, fairness, and respect. It will foster an inclusive environment that encourages all employees to develop and perform to their fullest potential, consistent with the commitment to human rights in company's workplace.
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Preserve the Environment: company will conduct its business in ways that protect and preserve the environment. Company will integrate principles of environmental stewardship and sustainable development into its business decisions and processes
Strengthen the Community: Company will contribute its time, its expertise and resource to help develop sustainable communities in partnership with local leaders. Coca Cola will seek to improve the quality of life through local relevant initiatives wherever it does business.
However, vision can be developed to gain sustainable development but it is rather difficult to work in a right path or monitor the sustainability growth for a company. This report will further discuss the issues faced by coca cola enterprise, what indicator coca cola should use to maintain its vision and how to monitor the demanded sustainable growth.
Coca Cola Enterprise as analysed from my research with GRI index, has substantial plans for sustainable development. This enterprise is working hard to conduct its business's in ways that protect and preserve the environment and, increasingly, it is integrating environmental considerations into its day to day business operations and decision making processes. Company is seeking to minimise the environmental impact caused by its products and operations and to reduce its carbon footprints. Water being the major resource for the planet and for the company as the main ingredient of its products, Company strategies highlights the responsible usage of water.
I would like to present the data for The Enterprise Coca Cola - Great Britain collected from the GRI index giving brief information of its environmental Performance (sourced from: http://126.96.36.199/environment/index.html)
Our Environmental Performance
Energy Use kwh/tonne of product produced
Litres of water used per litre of beverage produced
Waste & Recycling %
Analysis of Indicators and Adherence:
Economic Indicator: Economic Indicator provides data to monitor sustainability of an enterprise which may include, Taxes, Profit;, Revenues, Dividends etc.
Environmental Indicators: Environmental Indicators consists 9 further core indicators which help to collect and monitor Sustainable development. The list of various Indicators is as following:
Use sustainable renewable resources
Packaging and recycling
Materials currently used are from sustainable resources
Use of ultra glass and other light weight glass bottles
HFC -free cold drink equipment
Partnership with suppliers to use sustainable resources
Water comsumption efficient
Minimise use of water, water stewardship
Minimising usage, Recylcling water, Water neutrality, Water shed plans. Monitoring by water consumption by per litre of beverage
Use of enrgy supplies frequent
Is company a Green company
Energy efficient equipments. Limiting excess usage of energy
Emissions, effluent and waste
Less Emmiting Operations
Is there any negative impact on environment
Minimising toxic elements, recycling waste and disposing in responsible manner
Products and Services
Consumer Healthy products.
Are products healthy enough for consumers
Less calorie and caffeine products. Less sugar or sugar free products
Comply with Regulations
How do we comply to minimise or stop any future actions against us
Compliance with governments regulations
GRI index follower
Proper inspections periodically
Logistics emmiting less CO2
IS our transport system fuel efficient
Usage of fuel efficient engines
Human Right Indicators: These help company to analyse the sustainability among its stakeholders. Pressure of Government policies and Human Rights Commission globally. Coca-cola Company takes effective measures to monitor such issues by actively working and engaging its stakeholders in its strategies or operations.
Investment and Procurmenet Practice