Before writing this week’s discussion posting, review this MindTools article,
The Triple Bottom Line: Measuring Your Organization’s Wider ImpactLinks to an external site.
, for more details on the triple bottom line.
The concept behind the triple bottom line is that companies are responsible to all their stakeholders. This includes everyone involved with the company, whether directly or indirectly. It also includes the planet on which we all live. This approach views shareholders as very important stakeholders. This approach also recognizes the need for companies to consider other important stakeholders in the company, including employees, customers, vendors, and the larger community.
For this week’s discussion, please respond to the following:
Start with a brief overview of your business: company name and what you are selling (a maximum of 3 sentences).
· How would you implement the triple bottom line (people, planet, profit) concept at your chosen company?
· Keep the following format in mind as you complete this week’s discussion:
Profit: When looking at profit from this theory’s perspective, the idea is that profits are more than just a benefit for shareholders. Profits will help empower and sustain the community as a whole. Provide specific examples of strategies to keep the company profitable.
People: Describe your commitment to each of the following categories (type your answer under each category):
· For example, one way to care for employees is to provide a good working environment, training and development opportunities, and health care.
· Suppliers (as applicable)
Planet: Explain your approach to minimizing your company’s impact on the environment, considering all aspects of your operations. For example, your company might develop a process to minimize waste or reduce energy usage, such as using recycled materials in its production process.