Question

Q24

The triple bottom line approach encourages a focus on which performance areas?

Select one: a. Economic, environmental and sustainability b. Economic, social and environmental c. Social, environmental and sustainability d. Economic, social and sustainability

Answer 1

Answer is b) Economic, social and environmental

The triple bottom line consists of three elements (3Ps) – profit, people and planet. As per triple bottom line theory firm should not only look at profit but also focus on social and environmental factors. Profit is all about all having a profitable business. People are all about how organization is socially responsible and Planet is how organisation contributing towards environment. These 3 elements contribute to a firm’s sustainable growth.