GoLite was founded in 1998 to design and manufacture a wide range of outdoor activity products including light and ultra-light clothing, footwear, backpacks, tents, sleeping bags and accessories. Products were sold in over 20 countries throughout the world.From its inception GoLite was viewed as catalyst for the introduction of ultralight backpacking products and the overall move towards lighter gear from other outdoor manufacturers.

GoLite always had at its core a philosophy of environmental and social responsibility and humanitarian outreach.In 2008, GoLite became one of the first businesses in the world - and the first outdoor brand - to be certified as a B Corporation by B-Lab1.In 2010, GoLite became one of a handful of global brands to release a sustainability report rated at the A+ verification level by the Global Reporting Initiative.

However during its second decade in business GoLite ran into financial difficulties and in October 2014 the business filed for Chapter 11 bankruptcy protection and was fully liquidated.

In May 2018, GoLite relaunched under new ownership that has promised to honour and extend the original brand's social responsibility legacy in far-reaching ways. The new GoLite mission is to pair powerful humanitarian and environmental initiatives with an earth-friendly clothing collection that links outdoor performance and athletic functionality.

GoLite aims to produce sustainable performance products that enable active explorers to do more in the outdoors with less. However this is not the only focus of the new GoLite.While not forgetting that it is a for-profit organisation, GoLite's new business model2 focuses on two additional key outcomes 1) manufacture products that have minimal impact on the planet is and 2) pursue a mission to leverage product sales - along with new company resources, materials, processes and partnerships - to power charitable and environmental impact.

GoLite has developed a comprehensive website which outlines its new mission and business model.The website can be found at https://golite.com/.

1 B Lab is a non-profit organization that serves a global movement of people using business as a force for good.B Corporations are for-profit companies certified by B-Lab to meet rigorous standards of social and environmental performance, accountability, and transparency. A B Corporation certification is to business what Fair Trade certification is to coffee or USDA Organic certification is to milk.For more information about B-Lab, click here. 2 A business model describes the process by which an organisation creates, delivers, and captures value, in economic, social, cultural or other contexts.

Accounting in Organisations and Society

ACCT2060 - Accounting in Organisations and Society Assessment 2: Case StudyPage 3 of 4

Assessment

Requirements

You are required to undertake the following activities.Please note that the information contained above only provides you with an introduction to GoLite.To fully complete the requirements of this assessment you will need to access GoLite's website and use the resources listed below.You are also encouraged to search out additional resources relevant to the requirements of the case.

Requirement

1

GoLite has many stakeholders, both external and internal.Use the information from the case study, GoLite's website and the resources listed below to identify five (5) stakeholder groups that would be impacted by GoLite's activities.For each stakeholder group you identify, outline the following; (a)The types of broad decisions each stakeholder group might make in relation to Go Lite. (b)Two (2) externalities created by Go Lite that impact on the stakeholder group (remember, externalities can be both positive and negative). (c)The different types of accounts that could be used to satisfy each group's information requirements.

Requirement

2

GoLite is considering introducing a Balanced Scorecard as it believes that, in keeping with its new business model focus, it needs to identify other key performance perspectives. You have been asked to develop a Balanced Scorecard (BSC) that specifically reflects GoLite's new business model. In undertaking this requirement, ensure you do the following. (a)Provide a brief explanation of the purpose of a balanced scorecard and the benefits GoLite would gain from developing a BSC tailored to its specific business model. (b)In addition to the four (4) traditional BSC perspectives, include two (2) perspectives that represent GoLite's specific social responsibility focus; (c)For each perspective, identify two (2) performance metrics (measures) that will allow Go Lite to monitor their performance in each perspective;(d)Provide a justification of why you selected each performance metric;