The True Value Of A Sustainable Business Model: A Case Study Of Appalachian Mountain Brewery

ASU Author/Contributor (non-ASU co-authors, if there are any, appear on document)
Benjamin Allen Belk (Creator)
Appalachian State University (ASU )
Web Site:
Tamara Kowalczyk

Abstract: This is a case study of Appalachian Mountain Brewery, done in an effort to understand and quantify the true value of sustainable business models and material non-financial disclosure. The objective of the preliminary review of literature was to understand some of the problems associated with sustainability reporting. The research objective was to understand where certain business activities performed by AMB create value for society. The case study was performed in collaboration with executives at AMB, many of whom are Appalachian State graduate Alumni, and with employees at KPMG, a firm that is valuing businesses using non-financial metrics with their “True Value Methodology.” The case study uses this methodology and creates a simplified version of a “True Value” report, mapping the value chain of non-financial metrics which materially affect the economic, social, and environmental externalities and impacts that Appalachian Mountain Brewery has on the world around it. Research around the problems associated with sustainability reporting starts with an in-depth literature review of the value of sustainability reporting and the increased transparency associated with disclosure. A first look into this topic has yielded proven benefits such as: a better reputation, meeting the expectations of employees, improved access to capital, and increased efficiency and waste reduction ( The review then analyzes some of the challenges that currently surround sustainability reporting, including such matters as materiality and comparability. After this, the review contains an objective examination of KPMG’s True Value Methodology of reporting. The review is concluded with a brief look into the future of sustainability reporting. The research conducted describes the process of working with KPMG to understand their methodology, working with AMB to determine the feasibility and scope of any True Value analysis conducted, and the ultimate conclusion reached around mapping where the externalities created by AMB might create or take away value.

Additional Information

Honors Project
Belk, B. (2017). "The True Value Of A Sustainable Business Model: A Case Study Of Appalachian Mountain Brewery." Unpublished Honors Thesis. Appalachian State University, Boone, NC.
Language: English
Date: 2017
Accounting, Sustainable, Sustainability, Value, Beer

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