Question

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 is the company accepted by customers and the community? How is it positioned in the market(s) where it operates? Feel free to provide any additional information which will help me understand how the company operates. (25 pts) Explain how your employer’s activities can be categorized in the triple bottom-line measures. (30 pts). Give specific examples for each of these. Economic- (The answer will depend on whether the organization is a profit or nonprofit entity ) Social – Read this section in the text Environmental – Read about what this involves from text – explain what your firm or organization is doing in this regard Overall, how do you rate the performance of your employer on the triple bottom line measures -- excellent, good, fair or poor? Please justify your answer in a logical manner. (20 pts) What do you think that the organization needs to improve on to do a better job on the triple bottom line measures? Address each of the three components (20 pts) *If not employed you can use a former employer or an organization that you are very familiar with. Total 100 points.

Answer 1

The marketing concept is to ultimately generate demand for a product or service through an optimal mix of promotion, targeting of customers, features and specifications and also the price. Its relation to the triple bottom line is to ensure that marketing is sustainable in amanner that the needs of the present day customer is met without compromising on the needs of the future customer. And hence to meet this objective, any organization’s activity should include commitment towards being financially viable, helping societial upliftment and also to help in preserving the environment.

I would like to explaain the triple bottom line concept of TATA Steel. TATA Steel is a premier steel making company with operations in India, Europe and South East Asia and headquartered in Mumbai, India. Infact the mission of the company is to strengthen the industrial base of the country and wants to serve the communities it operates in. In some of its policy statement it goes on to state that the upliftment of the community is the very reason for its existence thus amplifying its triple bottomline commitment. It operates in the steel markets in India, Europe and South East Asia with providing steels for automotive applications, household appliances and steel rods for construction. It has got a leadership position in India & South East Asia with good brand value and a large degree of customer loyalty. Among competition, the steel players such as Arcelor, JSW Steel and Posco are major competitors.

TATA Steel activites include production and sale of steel through commercially viable operations and this constitute the financial part of the triple bottom line.

It also oeprates a number of educational institutes, hospitals and museums which enriches the soictey as well as provides the community with much needed resources. So this takes care of its societal commitment part of the triple bottom line.

It being a steel producer consumes huge amount of energy and thus it has started many energy saving projects and it actively seeks to reforest the lands where coal mining operations are over which also contribute to its commitment towards environment.

Overall the company has been doing well on the triple bottom line as it has been able to generate economic value added returns on its investment. Also through the various institutions of learning and medical services, it has been able to cater to the needs of a large number of citizens. Also it has been engaged in activities such as forestation of barren and abandoned lands, preservation of national parks and sanctuary. Moreover to reduce its energy footprint it has introduced energy saving electric drives and also new improved coke feeding mechanism which shows that the company is committed to the betterment of environment. Thus the rating on triple bottom line should be GOOD.

The company can deleverage and reduce debt to generate better returns and increase financial profitability. Also it can open more skill development schools to address the issue of skilling the yoths and generate job opportunities for them. Moreover it can address the impact of pollution and ground water shortage by employing advanced techniques such as cloud seeding and rain water harvesting to still improve its triple bottom line performance.