Question

Explain how changes in the business environment might impact upon the triple bottom line in these organisations

Answer 1

The triple bottom line (TBL) is a framework or theory that recommends that companies commit to focusing on social and environmental concerns just as they do on profits. Thus the importance of the TBL is that instead of one bottom line, there should be three: profit, people, and the planet which has to be considered by a business to grow and prosper. The changes in the business environment may have an impact on this TBL of the business. The way the business practices its care for people, environmental care, or the climatic care for the Planet’s sake may have a major impact when the best of processes are adopted that improves the people’s working conditions, makes automation be used, reduce the carbon footprint like ideas.

Hence the changes in technology like communication and robotics have made the carbon-free environment for the business which is also an efficient way to be useful for the people and planet as well. Hence, with the changes in the consumer’s perceptions, behavior, and ability to deliver changes with the changes which are positive in its offerings. However, it may prove to be negative if taken as a need for the modern-day operations which have made many changes like the application of technology, recycling, carbon footprint reduction like positive changes for the business upholding its Triple bottom line.