The Triple Bottom
Line”
The concept behind the
“triple bottom line” is that companies are responsible to all their
stakeholders. This includes everyone who is involved with the company whether
directly or indirectly, as well as the planet on which we all live. This approach
sees shareholders as part of the stakeholder group, but only as part of it.
Before writing your response to this week’s discussion, please review the
following resource for more details on the triple bottom line: https://www.mindtools.com/pages/article/newSTR_79.htm
For this week’s
discussion, please respond to the following:
How
would you implement the concept of Triple Bottom Line (People, Planet, Profit)
at the NAB company you created?
Notes:
Your response should
have three headings, each focusing on an aspect of the triple bottom line as
outlined below. Check out Chapter 14:
Social Responsibility & Sustainability for more information. You will use this
week’s information in Assignment 3: Ethics and Social Responsibility
Plan.
Keep the following
format in mind as you complete this week’s discussion:
Profit – When looking at profit
from this theory’s perspective, the idea is that profits will help empower and
sustain the community as a whole, and not just represent a benefit for the
shareholders. (Briefly explain your approach.) People – Discuss your approach
to care about suppliers, customers, community, employees. (For example, to care
about employees you can provide a good working environment, training and
development opportunities, healthcare, etc.) Planet – Discuss your
approach to minimize your impact on the environment. (An example would be to
create processes to minimize waste or reduce energy usage; maybe you are using
recycled materials, etc.)
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