Sustaining business excellence

Abstract

Many concepts have appeared fashionable as a process of business management and the latest of these is connected to sustainability. Often these concepts are merely refinements of other concepts but are presented as the answer to managing a business. We argue in this paper that these concepts do not replace earlier concepts. Instead, we argue, that the way to manage a business for excellence and sustainable competitive advantage is to focus on the four key areas of profitability, sustainability, reputation and governance.

Keywords:

• business excellence
• profitability
• sustainability
• corporate reputation
• governance

Notes

Of course the fact that many researchers do not have the skills to undertake such detailed financial analysis even if they considered it to be important might be a significant reason for this.

An example is the Cadbury (1992) Report.

These are of course transparency, accountability, responsibility and fairness.

Financial reporting is of course premised upon the continuing of the company – the going concern principle.

See for example Mishan (1967), Ormerod (1994) and Crowther, Davies and Cooper (1998). This can be equated to the concept of utility from the discourse of classical liberalism.