Fill This Form To Receive Instant Help
Fill This Form To Receive Instant Help
Homework answers / question archive / Instructions The Reflective Exercises will also be completed in the online forums set up for them but in these, you will be asked to do a small amount of research, typically on the Internet or within the textbook or required reading, address the research query, and present a response as your initial Posting Posts should otherwise follow the same rules and rubric as a Discussion posting, except they should be longer (approximately 250 to 300 words)
Instructions The Reflective Exercises will also be completed in the online forums set up for them but in these, you will be asked to do a small amount of research, typically on the Internet or within the textbook or required reading, address the research query, and present a response as your initial Posting Posts should otherwise follow the same rules and rubric as a Discussion posting, except they should be longer (approximately 250 to 300 words). Title your thread with your name and the theme of your reflection Details Search the Internet for examples of businesses using a triple bottom line approach. Critique two examples presented by your colleagues.
Answer
In finance, when we speak of a company's bottom line, we usually mean its profits. Elkington's TBL framework advances the goal of sustainability in business practices, in which companies look beyond profits to include social and environmental issues to measure the full cost of doing business.
According to TBL theory, companies should be working simultaneously on these three bottom lines:
Profit: The traditional measure of corporate profit—the profit and loss (P&L) account.
People: Measures how socially responsible an organization has been throughout its history.
The Planet: Measures how environmentally responsible a firm has been.
Example 1-
The LEGO Group (privately held; Billund, Denmark) has formed partnerships with organizations like the non-governmental organization (NGO), World Wildlife Fund. In addition, LEGO has made a commitment to reduce its carbon footprint and is working towards 100% renewable energy capacity by 2030.
Example 2-
Axion Structural Innovations LLC (privately held; Zanesville, Ohio) is known for its commitment to sustainability. Axion builds railroad ties and pilings using recycled plastic bottles and industrial waste instead of standard materials such as wood, steel, and cement.
