Question

Imagine you are CEO of a large company and your board has asked you to take a more sustainable approach to reporting firm performance Do you adopt Triple Bottom Line reporting or Balanced Scorecard? Why or why not? Now imagine you operate a large call centre in Bangalore, India. What social measures would you use for triple bottom line reporting?

Answer 1

Answer: Triple Bottom Line reporting- It is a strategic approach of business that equally focuses on people and environment as they do on profits. Companies should not merely focus on one line that is profit rather it should concentrate on its people and society as well. According to this approach, company should have three concerns:

1. Profit
2. People
3. Planet

Balanced Scorecard- This approach identifies and improves internal functions of companies and their external outcomes. Companies can identify the performance on the basis of this approach.

I will adopt Triple bottom line approach because of the following reasons:

• This approach gives equal attention to profit, people and environment so this approach shows that company is performing its Corporate social responsibilities and society will be happy with the company.
• People of company will be happy and they will stay in the company, employee's retention rate will increase.
• It increases transparency and accountability of organization's operations.
• Company can attract new customers and increase the efficiency and productivity.
• Company's brand image and market share increase, it can enter into new market.

Social measures for Triple bottom line approach- Me and my company will take the initiatives in Go green campaign and will plant trees, We will donate the amount to charitable trust that work for poor kids and women. We will also keep the environment clean and will make the society aware about the cleanliness and greenery.