Triple bottom line

The Triple Bottom Line of Whole Foods Market 582083-3 Preparation Center For Language and Mathematics Mahidol University International College 2015 The triple bottom line or TBL is an accounting framework that was created by John Elkington for measuring the company’s sustainability in the mid-1900s (Slaper & Hall, n.d). The triple bottom line incorporates the three dimensions of company which are people, planet, and profit or they were called 3P (Investopedia, 2015). First, people

Triple Bottom Line Accounting By: Emma Juskovic 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)

Triple bottom line approach is an addition of the standards to measure the achievement of the firm. Conventionally, a business is considered to successful if it has generated massive profit, but the triple bottom line approach takes into interpretation the three criteria for evaluating the success of the firm i.e. economic, communal and environmental. Triple Bottom Line (TBL) Approach is generally defined by the 3Ps: People. Planet and Profit. People – (The social bottom line) Planet – (The environmental

Systems Theory and Triple Bottom Line theory AnalysisCorporations should be and could be a major force for resolving environmental and socialconcerns in the 21st century" (Banerjee, B, 2003, p. 1). William Ford, Jr., 2004. The following paper will be a two-page analysis on the ways in which Systems Theory and the Triple Bottom Line Theory support each other. According to the article entitled, "Theories of Corporate Social Responsibility," the term, Systems Theory, actually involves studying the

different answers. However, the triple bottom line is a typical concept used often when talking about the subject of sustainability within a business. John Elkinston, a global authority on corporate social responsibility and sustainability coined the phrase for the first time in his book ‘Cannibals with Forks: The Triple Bottom Line of 21st Century Business’, in 1997. His argument was that the methods by which companies measure value should not only include financial bottom line, profit or loss but also

Triple bottom line reporting is provides information enable the report readers to assess how sustainable an organization’s operation. It evaluates the performance of a narrow focus on the single bottom line of financial profit to an evaluation of the three bottom lines of economic, social and environmental performance. (Deegan, 2009) European Union (EU) released a document suggests

Triple Bottom Line Over the Past 30 years many steps have been taken to further understand, and develop our sustainability and the impact it has on us, our communities, economy, social lives and future. As our understanding and knowledge continues to grow, we continue to see just how important and closely tied our environment is to us. There have been policies made by governments all around the world in order to achieve a sustainable living style, as well as many smaller organizations in comparison

1. Introduction The notion of the triple bottom line has become fashionable to be applied to management, consultation and investment over the last few years. The trend towards greater transparency and accountability in public reporting is reflected in revealing a more comprehensive performance which includes not only financial factor but also social and environmental ones. Despite the trend, there are still some people in mainstream sectors are to make profit regardless of environmental and social

organizations on the environment’s capacity to meet both our present and future needs. Resource exploitation to meet present needs is not a sustainable solution 2) (https://en.wikipedia.org/wiki/Triple_bottom_line ) A. The three components of ‘Triple Bottom Line’ are as follows: 1. People: Pertains to be fair i.e. seeking to provide benefit to many constituencies and not to exploit or endanger any group or community. In other words, think also of social well-being along with personal gains 2. Planet:

Triple Bottom Line Principles The triple bottom line principles are terms which layout the areas that a firm needs to satisfy in order to successfully address its goal and become corporately sustainable. A company that fits into all triple bottom line principles should be socially responsible, profitable and environmentally conscientious. All three areas are equally important and should complement one another. A company needs to be environmentally responsible in order to lower their carbon footprint