Triple Bottom Line

The Triple Bottom Line (TBL) accounting concept and framework was first created by John Elkington in the mid 1990’s, and has since changed the way for-profit, non-profit and government agencies measure the sustainability of their initiatives and company. The TBL framework is flexible and can be adopted and molded based on the specific needs of an organization. The framework is comprised of three parts, which are: social (People), environmental (Planet), and financial (Profit), commonly referred to as 3Ps. This framework does spark debate regarding the ethical problems behind measuring, quantifying and accounting for social and environmental variables, which is often not supported by many

In a time of global commerce, new business ventures can take on many forms. What used to be local or even national companies have become world-wide. International growth of a business can be extremely beneficial but is not without its challenges. Different countries have different peoples and different cultures - different ways of doing business altogether. If a venture is to be successful, these differences must be well understood.

Hill, C.W.L. & Hult, G.T.M. (2016). Global Business Today. (9th ed.). New York, NY: McGraw-Hill Education.

A triple bottom line model never merely quantifies an accomplishment or rather the wellbeing of a company through its conventional monetary bottom line. However, triple bottom line similarly measures social, ethical as well as environment performance of the company. Triple bottom line typically is an incessant process that shall assist the company in concentrating into the performance of a more sustainable business whereas demonstrating to local communities together with employees of that particular firm that is not merely looking forward on profit making, but similarly a greater common good for the company operations (Hitchcock and Willard, 2009).

The push for company reporting to include CSR related information in annual reports is of utmost importance, given the prominence of corporate influence in today’s society. The recommendation to implement triple bottom line reporting would increase the extent to which companies are taking responsibility for the consequences of their actions, in relation to corporate activities that touch on environmental or other issues of community concern13

Define sustainability. What is the triple bottom line and what is included in the triple bottom line concept? How is this an improvement in the strategy plans of a

A triple bottom line model never merely quantifies an accomplishment or rather the wellbeing of a company through its conventional monetary bottom line. However, triple bottom line similarly measures social, ethical as well as environment performance of the company. Triple bottom line typically is an incessant process that shall assist the company in concentrating into the performance of a more sustainable business whereas demonstrating to local communities together with employees of that particular firm that is not merely looking forward on profit making, but similarly a greater common good for the company operations (Hitchcock and Willard, 2009).

Walmart’s annual report is a comprehensive look at the company's activities throughout the preceding year. Walmart’s annual reports are intended to give shareholders and others, who are financially affiliated, information about the company's activities and financial performance. Also within such a comprehensive report would be plans to attack certain strategic agendas in reference to the company’s long term outlook. Identifying the long-term strategic planning initiative of Walmart will be the focus of this paper. The reader should be able to

According to the textbook, the triple bottom line is known as the people, planet and profit that measures an organization’s social, environmental and financial performance. The Chief Financial Officer at UPS stated that his approach is established in two beliefs “that companies have a responsibility to contribute to society and the environment, and that every investment a company makes should return value to the business.” The company has a responsibility to help the society and concern about the environment with the objective of gaining profit. UPS has established a five-step approach toward sustainability that will balance the needs of various elements. Therefore, one is too assessing your strengths, which will offer to make a major effect

The Triple Bottom Line is simply a way of understanding how the company is performing in three important areas including profit, environmental, and customer satisfaction, which is also known as Corporate

Triple Bottom Line (TBL) is a concept, invented in 1994, that it has come up with the three factors that company should follow in order to become sustainable including people, planet and profit (“Triple bottom line”, 2009). In the present time, many companies are more aware of becoming a sustainable company. This is because of the fact that many people today believe that in order for big corporations to become successful, they must try to become sustainable. Tesco is an example of a big corporation that is currently aware of the TBL. However, it seems like there are still negative aspects of their sustainability.

This is a persuasive paper defining various business terms like corporate social responsibility and equal distribution of wealth. The thesis statement does state that the CSR programs are applied in various developed organizations to set an example for small and rising enterprises whereas the anti thesis statement is that there are no moral obligations felt by businesses to be involved in CSR. The financial aspect of CSR activities is also discussed; at times it is thought that involvement of business in any environmental friendly work may lead to higher costs whereas an opposite point of view is that CSR increases long run profit (Aras & Crowther, 2009). Now day’s Triple bottom line concept is aligned with business which is another

The modern business culture must, by necessity, be fluid if it is to succeed globally. There is interaction between employees, between stakeholders, and between global environments. In fact, this environment is formed through multiple interactions between the strengths, weaknesses and opportunities presented through the organization's unique culture. Since truly the one constant in business is change, it is how we adapt to such changes; as individuals and part of groups, that helps manifest behaviors as he culture evolves. Indeed, many believe that one of the templates that make up this fluidity is the concept, even more popular in the late 20th and early 21st centuries, of mergers and acquisitions (Horibe, 2001).

In order for sustainable development to be achieved, humans need to reduce their effect on the environment by consuming less in terms of resources, and living more lightly on the planet. As difficult as this may sound, there are a number of ways in which this is easily achievable. One of the most effective ways to do this is to alter the way in which we function day-to-day, and to begin to change our homes to make them more efficient in terms of resources. In addition, sustainability is not only about ensuring a future in which we can sustain our society without impacting negatively on our environment, but also but ensuring that everyone can have access to this. Therefore we must look at the triple-bottom line approach and align our movement towards sustainable development with this.

The framework of corporate social responsibility is such that it is relatively complex and multidimensional. A three-dimensional