Question

One definition of a triple bottom line-related term (find this via business research on your own) A business example of how performance is measured in the area of people, the first aspect of the triple bottom line A business example of how performance is measured in the area of planet, the second aspect of the triple bottom line

Answer 1

Here is the definition of the triple bottom line:

• Triple bottom line is a framework that helps to recommend the organisation to focus on social & environmental concerns equally as profits.
• It focuses on three levels - profit, people & the planet. The overall idea emphasises that the company should be managed in a manner that it is not only earning financial profits but also works towards improving people's lives & the planet.
• It aims to measure and evaluate the financial, social and environmental results delivered by the company.
• The profit aspects focus on corporate profit, people aspect measures the overall social responsibility a firm have towards operation and planet aspect measures the overall environmentally dedication & responsibility.

Business Examples of 3Ps - People, Planet & Profit.

Planet: Companies use the natural resources & raw material for production & manufacturing purposes and hence it becomes the responsibility to use the energy in a efficient manner, reduce greenhouse emissions, avoid any form of contamination to air or ocean and use the ecological system to produce products/services.

People - It is important to do something for the people & community at larger. The example of TOMS shoes is most relevant here for the people aspect. It is important to take care of the labour, community, human capital that is used by the firm & the returns can be in form of providing access to equal opportunities, fair distribution of wealth & putting efforts towards solving the health & poverty issues.

Profits - For the organisation activity & the process to continue for future generation It is important to have good financial health in terms of profits.

Ikea is a great example - a renowned Swedish furniture company that has increased its sales to great margins & still focused on working towards recycling the waste material. The company is a great example of adding zero waste to the landfill.

Business examples:

• Unilever - The company has pledged that 100% of plastic packaging to be reusable, recyclable & compsotible by 2025.
• DPDHL mission 2025 involves zero emissions & ensuring environmental protection.
• Patagonia launched the reuse old clothes campaign.

Other relevant examples:

• TOMS shoe is a great example. The firm with their campaign one for one has distributed 60 million shoes to the children. They are focussed towards addressing new initiatives/challenges which communities are facing around the world.
• Coca-Cola campaign of World Without Waste. Coca-Cola is focused on reducing environmental footprint, creating a safe and inclusive work environment, and enhancing the economic development of communities through initiatives such as "World Without Waste", "5by20" and others which work towards reshaping Coca-Cola's approach to creating a sustainable environment.
• Levis Strauss had shown great dedication to focus towards empowering workers financial, health and overall family well-being. They keep introducing new initiatives and partners with NGOs, Non-profits to implement a program to deliver worker needs.

------------------------------------------------------------------------------------------