Triple Bottom Line Essay

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.

Hence TBL approach considers firm's sustainability in social community, environment and business. Triple buttons line reporting makes business judgements and actions more clear and allows

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

TBL is a sustainable model for business that balances financial success, community participation together with ecological sustainability. The firm which employs triple bottom line towards capturing the set significances, processes as well as issues of the company might decrease and determine whichever harms resulting from company’s operations then create economic, social as well as environmental values of that the company. The model typically outlines that everything is supposed to taken into account that needs of the company 's shareholders, employees, stakeholders, governments, clients, business partners, local communities together with the entire public. Reporting through Triple bottom line (TBL) is currently turning out to be more ordinarily used across several sectors within

High Line is a public park in New York, partner shipped with the New York City Department of Parks and Recreation. Originally, High Line used to be a rail line train station, which then transformed into a public park on Manhattan's West Side. Nowadays, this park is a nonprofit organisation for people and tourists. High Line has a beautiful, vast public space for all visitors to enjoy, relax and explore new areas. Annually, Friends of High Line, try to raise 90 percent of the park’s important private funds to defend High Line’s rail yards and the historical structure, which is located between West 30th and West 34th streets.(The High Line)

Melting glaciers, depleting water resources and decreasing air quality needs immediate attention. Everyone needs air and water to survive. Business started practicing sustainable accounting in mid-70. This practice discloses non-financial and financial information related to the business activities that has direct impact on society and its environment (air, water, people etc.). Companies use triple bottom line method to calculate the impact of business activities on society and based on these calculation companies makes policies which make its operation more ecologically and socially

UTRGV is providing one of the cheapest educations in the United States, while maintaining profits and help growing the local community in the Rio Grande Valley, however there are plenty of options for the institution to improve on all three triple bottom line factors. UTRGV is devided into many separate departments all representing the University. The athletic department is known for its contribution to the local community through community service and the unification of local residents through sports events. Student Satisfaction is an important part of the UTRGV mission and goal, and UTRGV is often ranked relatively high in comparisons to other similar institution mainly because of the relatively low price of tuition in the region.

To prosper over time, every company must not only deliver financial performance, but also show how it makes a positive contribution to society. Companies must benefit all of their stakeholders, including shareholders, employees, customers, and the communities in which they operate” (Straub,

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

New Belgium already approved the triple bottom line approach to business which incarnates economic, social, and environmental factors. The company did many actions to improve the efficiency and reduce the environmental contamination which are mostly lies in the voluntary category. For example, the company ameliorate buildings and equipment to save energy and not use virgin grain to save resources. In additional, “Ethical businesses see the interrelationship between their own success and their efforts to better the community” (Royal, 2011). New Belgium did see the interrelationship, the company donates one percent of profits and purchase materials from farmers. Furthermore, New Belgium improves communities and give welfare to all workers to increase living standard through

Triple Bottom Line method is used to achieve sustainability monitoring and reporting. They consider social, environmental and economic performances. The method also allows us to think about the corporate social responsibilities (CSR).

In the following discussion, we explain the research that was needed to apply these sustainable concepts to Bank of America.

“Businesses are an integral part of the communities in which they operate. Good executives know that their long-term success is based on continued good relations with a wide range of individuals, groups and institutions. Smart firms know that business can’t succeed in societies that are failing—whether this is due to social or environmental challenges, or governance problems. Moreover, the general public has high expectations of the private sector in terms of responsible behavior. Consumers expect goods and services to reflect socially and environmentally responsible business behavior at competitive prices. Shareholders also are searching for enhanced financial performance that integrates social and environmental

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

ITC Ltd has worked exremly hard to start several procedures that have led to compliance of the standards of social responsibility. ITC’s dealings within the tobacco industry have contributed to the increase in company revenues and the company has worked towards following the triple bottom line and giving back to society. Most, businesses pay little attention to their social responsibilities and make it part of their overall strategy, instead they concentrate more on financial benefits from the sales of products. Consequently, managing business in a socially responsive manner contributes to the best combination of business success and societal acceptance, trust and loyalty. Giving back to the community in ways that benefits only society such as planting trees to curb pollution and help the environment or using biodegradable materials in packaging can reap financial benefits to a company by building loyalty among the community. The notion of business ethics and corporate social responsibility is becoming a defining concept in all industries worldwide. ITC believes in the Triple Bottom Line philosophy where the performance and perception of a corporation should not be judged only on the basis of its financial statements or revenues, but its environmental and social performance as well. ITC is one of the only companies in the world to be carbon positive, water positive, and conduct solid waste recycling. ITC provides water to areas where water is very