Question

Define the triple bottom line and give examples of each of the “three Ps.” (2–3 paragraphs)

Answer 1

Triple Bottom Line (TBL) is a method adopted by the company to measure business profits; and maintain regulation and rules according to the culture and social norms of the society. TBL emphasizes the three Ps of profits (economic concerns), people (social concerns) and planet (environmental concerns).

The profit bottom line is used for measuring the traditional corporate profits or losses. For example the products should be produced according to demand and maximize welfare of all. The second bottom line is for the people in an organisation and determines whether it shown the social responsibility. For example: child labor policies, safety, safe disposal avenues, safe materials, safe design, excessive work hours. The planet bottom is the company's impact on the environment. For example: disposal of any toxic waste in a safe approach, reduce the energy usage and attempting to use renewable energy sources.