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

Solutions

Expert Solution

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.

ekkarill92 answered 2 hours ago

Next > < Previous

Related Solutions

What is Triple bottom line principles? How to apply triple bottom line principles in work planning(in...

What is Triple bottom line principles? How to apply triple bottom line principles in work planning(in Australian Accounting environment) (Please type your answer)

Define the marketing concept and why is it related to the triple bottom line- (5 pts)...

Define the marketing concept and why is it related to the triple bottom line- (5 pts) I would like for you to apply the triple bottom line concept to your current employer or one that you worked for in the past. Name of your company/organization______________________________________ Provide a 2-3 paragraph description of the company/organization. Indicate where the corporate headquarter is locate. Historical perspective on the company. Indicate the organization’s mission (reason for existing), major products or services and competition. How well...

what is the triple bottom line concept? discuss 5 examples of private or public companies in...

what is the triple bottom line concept? discuss 5 examples of private or public companies in the world that apply the triple bottom line concept . Provide some evidence on why their activities care about the people, the planet and generate profits.? two pages maximim thanks!

1. There are three components in the triple bottom line; people, planet, and profit. Which component...

1. There are three components in the triple bottom line; people, planet, and profit. Which component do you think is most important? Why? Reply and add to other student’s responses for full credit. 2. Assume a company has a current ratio of 2.0. List two examples of transactions that could cause the current ratio to increase. Also list two examples of transactions that could cause the current ratio to decrease. Briefly explain everything please

Define and give examples of each of the following scenarios. 1) discrete 2) continuous 3) mixed...

Define and give examples of each of the following scenarios. 1) discrete 2) continuous 3) mixed 4) dynamic 5) stochastic

In the context of the triple bottom line (TBL), which of the following is a performance...

In the context of the triple bottom line (TBL), which of the following is a performance measure of economic sustainability? Select one: a. Fines for environmental violations b. Corporate ethics and governance c. Revenue from new goods and services d. Measures of perceived value

1/. Explain what is Triple bottom line principles? 2/. Describe a framework for a work plan...

1/. Explain what is Triple bottom line principles? 2/. Describe a framework for a work plan in an Australian accounting environment using the triple bottom line principles (Not just describing the pros and cons of using triple bottom line principles, but an actual outline of work plan on how it works in Australian accounting environment using the principles) ((Please type up your answer)

Question