1-3 QSO321

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Jun 11, 2024

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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/
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