1-3 QSO321
.docx
keyboard_arrow_up
School
Southern New Hampshire University *
*We aren’t endorsed by this school
Course
321
Subject
Business
Date
Jun 11, 2024
Type
docx
Pages
2
Uploaded by BrigadierHorsePerson1122
Jared Massey
QSO-321
1-3
Triple Bottom Line Industry Comparison
When implementing the TBL both service and manufacturing industries have similar circumstances they will face. Primarily, the companies will have to make changes in their operations. Whether you are service or manufacturing operations is what runs and maintains your
business. Operational changes are the base to the changes that need to be made and the culture cannot be created without the changes happening first. In addition, implementing the TBL framework can have a cost factor at the forefront. Making changes, implementing them, and finding different resources, outputs for waste (physical, environmental), and finding different vendors can all cost upfront. After time there is generally cost savings involved with this, though,
and will help both the company profits and reputation and will help with the environment and surrounding society. The TBL framework will help a business in people, planet, and profit.
The difference in implementing the TBL framework between these two industries also lies in operations. A manufacturing company relies on operations for their inputs (taking materials in) and their outputs (turning the materials into their final product) in order to make profit. While a service industry company relies mostly on people for their input (employees putting in work to service others) and their output (high-end customer service i.e. happy customers) for their profits. A manufacturing company may need to figure new materials to use for packaging and new vendors or vehicles to use for shipping. Whereas a service industry company may need to focus customer stewardship or an inclusive business model to attract all customers. A strategy that both industries could implement in order to apply the TBL framework and
truly be for people, planet, and profit is first ensuring they have a proper mission statement and vision that promote the culture and ideology. Once that is complete the companies can work towards making sure the employees are properly cared for (financially, physically, resources, development) and the community is benefitted and not negatively impacted by business operations. Both industries can apply these strategies and make sure all their various wastes are disposed of properly and managed accordingly to protect the environment. Once the companies do this they will prove to be for the people, for the plant, and for profit which will in turn prove to have happy customers. If a manufacturing company specifically wanted to take action to work on adding TBL framework to their business model one thing they could do is use recycled materials where applicable. For example, if a company that ships a lot of items went to recycled boxes and plastics only they would prove to be for the planet by reducing waste with recycled items. Doing this would also add jobs to the economy by proving the need for more recycling plants and thus employees for those plants, proving to be for the people. When using these recycled materials a company may see initial higher costs while making the changes, but over time would see less costs as recycled materials are cheaper than non-recycled due to the materials already being on hand and in existence.
Jared Massey
QSO-321
1-3
References:
Soomo Learning. (2020). People, planet, and profit (Ch. 1).
https://www.webtexts.com
Noissue. (2022). Are Recycled Boxes Cheaper For Your Business?
Noissue
.
noissue.co/blog/are-
recycled-boxes-cheaper-for-your-business/
Your preview ends here
Eager to read complete document? Join bartleby learn and gain access to the full version
- Access to all documents
- Unlimited textbook solutions
- 24/7 expert homework help
Related Questions
Give three examples of organizations that have acquired or developed new technologies to support the following objectives and provide a short rationale for each example:
reducing cost
reducing lead time or lead time variability
improving quality
increasing flexibility and the ability to customize
arrow_forward
Discuss the potential challenges associated with the implementation of CRM and how they can be mitigated.
arrow_forward
Many organizations are improving efforts to increase the sustainability of their organizations. How should metrics of sustainability be reported for publicly traded companies?
arrow_forward
Analyze the various benefits that an organization can gain from implementing a CRM system, with a focus on both customer-centric and business-centric advantages.
arrow_forward
SWOT Analysis Uber Ridesharing
Opportunities
What is the unique opportunity that the company is trying to take advantage of?
Does the target market have any unfulfilled needs that the company can satisfy?
Are there emerging target markets with needs that the company can satisfy?
Are there ways the company and its competitors can benefit from working together?
Are there opportunities for collaborating with customers to build a brand presence?
Describe and analyze if market demand is increasing?
Are there changes in the government regulations that will affect the company?
Describe any emerging global issues that will affect the company?
arrow_forward
Service quality is an important concept in service marketing. With regards to service quality measurement models / frameworks, however, extant research shows that there is no consensus on the appropriate measurement model. Provide a rationale for this and perform an appraisal of any four service quality measurement models/frameworks highlighting their distinctive features and commenting on the effectiveness of each one of them. Which one would be suited for which industry / sector and why?
arrow_forward
Define and describe the promise of CRM, explain why it is important in business and choose one model for our business, explaing the reason for choosing this model to justify what you are saying?
arrow_forward
Need help on these questions
arrow_forward
What is the importance of the PDCA Cycle in the business world? How would you apply it?
arrow_forward
Many organizations have differentiated themselves in the marketplace by their "low cost" value proposition to customers (i.e. Spirit Airlines, Dollar Tree, Walmart, and Aldi). To achieve this, the organization fine-tunes their business model to remove as many overhead costs and unnecessary costs so it may pass those savings on to its customers. Select a domestic or international business that has a "low cost" value proposition to its customers and consider the following questions: How does it market itself? How does a low-cost operating structure make them stand out and succeed in the market? Is "low cost" a sustainable model for this company? Evaluate this strategy from an ethical perspective.
arrow_forward
Discuss the Situation Analysis (6 Cs) for the Ebay company.
arrow_forward
Analyze a product or service that you recently purchased; the analysis will include its complete supply chain and how this influenced price and quality (represents the majority of your text). State if your Analysis results will impact your future purchase decisions and employment opportunities (separate, brief paragraph: 2-3 sentences). State the product's/service's name in the Subject line of your post.
arrow_forward
Your line manager, Ms Lionheart, has collected and scrutinised performance data for the company. She was concerned that the inventories were high for certain products which had resulted in significant price reductions and losses for the company. At the same time, the company had run out of stock for other items early in the season resulting in unsatisfied customers and lost sales. Ms Lionheart has concluded that the problem was not with the specific products carried in the stock, but with the quantities ordered by the procurement department for two popular products; Dog Ball Launcher and Lightweight Dog Lead. Dog Ball Launcher is a product carried by the company for the past four years. Quarterly demand data for the past four years are shown in table 1. Last year the company seemed to always be out of stock for this item. The model used by the procurement department to forecast demand for this product over the last two years has been Multiplicative Seasonal model based on seasonal…
arrow_forward
Conduct additional research on how companies worldwide are detecting and preventingintrusions. Identify the most suitable tools that TransUnion, the Department of Justice, Transnetand Experian could employ in identifying and repairing system weaknesses.
arrow_forward
SEE MORE QUESTIONS
Recommended textbooks for you
Purchasing and Supply Chain Management
Operations Management
ISBN:9781285869681
Author:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson
Publisher:Cengage Learning
Related Questions
- Give three examples of organizations that have acquired or developed new technologies to support the following objectives and provide a short rationale for each example: reducing cost reducing lead time or lead time variability improving quality increasing flexibility and the ability to customizearrow_forwardDiscuss the potential challenges associated with the implementation of CRM and how they can be mitigated.arrow_forwardMany organizations are improving efforts to increase the sustainability of their organizations. How should metrics of sustainability be reported for publicly traded companies?arrow_forward
- Analyze the various benefits that an organization can gain from implementing a CRM system, with a focus on both customer-centric and business-centric advantages.arrow_forwardSWOT Analysis Uber Ridesharing Opportunities What is the unique opportunity that the company is trying to take advantage of? Does the target market have any unfulfilled needs that the company can satisfy? Are there emerging target markets with needs that the company can satisfy? Are there ways the company and its competitors can benefit from working together? Are there opportunities for collaborating with customers to build a brand presence? Describe and analyze if market demand is increasing? Are there changes in the government regulations that will affect the company? Describe any emerging global issues that will affect the company?arrow_forwardService quality is an important concept in service marketing. With regards to service quality measurement models / frameworks, however, extant research shows that there is no consensus on the appropriate measurement model. Provide a rationale for this and perform an appraisal of any four service quality measurement models/frameworks highlighting their distinctive features and commenting on the effectiveness of each one of them. Which one would be suited for which industry / sector and why?arrow_forward
- Define and describe the promise of CRM, explain why it is important in business and choose one model for our business, explaing the reason for choosing this model to justify what you are saying?arrow_forwardNeed help on these questionsarrow_forwardWhat is the importance of the PDCA Cycle in the business world? How would you apply it?arrow_forward
- Many organizations have differentiated themselves in the marketplace by their "low cost" value proposition to customers (i.e. Spirit Airlines, Dollar Tree, Walmart, and Aldi). To achieve this, the organization fine-tunes their business model to remove as many overhead costs and unnecessary costs so it may pass those savings on to its customers. Select a domestic or international business that has a "low cost" value proposition to its customers and consider the following questions: How does it market itself? How does a low-cost operating structure make them stand out and succeed in the market? Is "low cost" a sustainable model for this company? Evaluate this strategy from an ethical perspective.arrow_forwardDiscuss the Situation Analysis (6 Cs) for the Ebay company.arrow_forwardAnalyze a product or service that you recently purchased; the analysis will include its complete supply chain and how this influenced price and quality (represents the majority of your text). State if your Analysis results will impact your future purchase decisions and employment opportunities (separate, brief paragraph: 2-3 sentences). State the product's/service's name in the Subject line of your post.arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- Purchasing and Supply Chain ManagementOperations ManagementISBN:9781285869681Author:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. PattersonPublisher:Cengage Learning
Purchasing and Supply Chain Management
Operations Management
ISBN:9781285869681
Author:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson
Publisher:Cengage Learning