Module One Assignment (1)
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Module One Assignment For this assignment, I created a handout clarifying the similarities and differences between the strategies used to incorporate the Triple bottom line (TBL) into the service and manufacturing industries. The three elements of the triple bottom line are referred to as the three P’s and include the following:
Profit:
The traditional measure of profit
People:
Every individual that has contact with the organization such as employees, vendors, and customers
Planet:
Measures how environmentally responsible an organization has been.
The triple bottom line (TBL) The idea behind the TBL is that organizations should place as much value on social and environmental issues as it does on making a profit and strives to measure the financial social and environmental performance of an organization. The
similarities
between incorporating the TBL into both the service industry and the manufacturing industry is that both industries create an economic impact, generate revenue, and create jobs. In following the framework of the TBL both industries can strive to maximize profit while minimizing the negative impact on society and the environment.
The
differences
between incorporating the TBL into the service industry and the manufacturing industry include input and output. In the service industry people (employees) are the primary input, and the output is increased customer service. In the manufacturing industry inputs and
outputs are based more on tangible goods that take materials and turn them into physical products.
An example
of a strategy that can be used across both the service industry and the manufacturing
industry is recycling. In the service industry recycling not only addresses the impact operations have on the environment it can also reduce costs in a variety of ways such as lower disposal and purchasing costs. In the manufacturing industry industrial waste can be recycled into raw materials that can be used to produce new products.
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