Question

FOR JOB SUCCESS Dison: Sustalnable Business Practices y assign these questions to your class, and then ask you to think about them or discuss with your claśsmakes As public a they must do an having a positive, or at least and concern over environmental and social issues grows, many businesscs are finding a profit to be successful. Companies today often strive to be a sustainable business by minimally negative, effect on the local and global environment and community Traditional managemen shareholder value. Managers of sustant Bottom Line: people, planet, and pro the environment and society by encourag for all of the costs of doing business. ilities have been to focus on the bottom line: making a profit and increasing able businesses believe they have a broader responsibility, called the Triple le Bottom Line is a strategy and measurement method that benefits ner business practices and that allows a company to fully account Sustainability is so important that many businesses dedicate websites and social media accounts to publicizing their "green" efforts and community outreach, and they incorporate these messages into their general advertising. Starbucks, for example, prominently displays information about their "responsibility" to coffee farmers and local communities in their stores and advertising. What are some effects that Triple Bottom Line business practices could have on your community? Are there businesses in your area that communicate their interest in people and planet as well as profit? What ads or social media postings have you seen that focus more on a company's environmental practices than on its products?

Answer 1

Effects that triple bottom line businesses can have on our community:

In the concept of TBL businesses give as much importance to social and environmental factors that are affected due to their activities as their financial bottomline. In simple terms companies behave responsibly and active in unraveling the solutions to mitigate the crisis created by their activities on the stakeholders. In emerging markets like India the concept of Corporate Social Responsibility has been laid down in the Companies Act,2013. As per section 135, every company meeting the requirement has to spend at least 2% of its average net profit during three immediately preceding financial years.

Businesses that communicate their interest in people and planet as well as profits:

Every country has its set of rules and regulations to be followed while publishing its annual financial statements and returns. The question here is, whether the companies do it out of their interests or just set adhere to the by laws of their nation. The sense of responsibility and humility has been increasing in the global arena. The financial institutions unlike past, now give due importance to the philanthropy and charity works under taken by these corporations seeking IPOs or FPOs. This draws the attention of the corporates to consider their social responsibilities and be a front runner in implementing them.

Social media postings that focus on company's environmental practices:

The concept of negative marketing followed by companies which trade on natural resources like petroleum,crude,Brent crude,diesel, aviation turbine fuel commonly known as oil industry focuses on advertising and creating awareness on reducing public consumption of these natural resources. They draw the attention of public towards sustainable development. The idea that the current generation should sustain the needs of future generations while consuming limited resources.