Week Discussion 6
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Question Description

Week 6 Discussion



"The Triple Bottom Line"

The concept behind the "triple bottom line" is that companies are responsible to all their stakeholders. This includes everyone who is involved with the company whether directly or indirectly, as well as the planet on which we all live. This approach sees shareholders as part of the stakeholder group, but only as part of it. Before writing your response to this week’s discussion, please review the following resource for more details on the triple bottom line: https://www.mindtools.com/pages/article/newSTR_79.htm.

For this week's discussion, please respond to the following:

  • How would you implement the concept of Triple Bottom Line (People, Planet, Profit) at the NAB company you created?

Notes:

  • Your response should have three headings, each focusing on an aspect of the triple bottom line as outlined below.
  • Check out Chapter 14: Social Responsibility & Sustainability for more information.
  • You will use this week's information in Assignment 3: Ethics and Social Responsibility Plan.

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 will help empower and sustain the community as a whole, and not just represent a benefit for the shareholders. (Briefly explain your approach.)
  • People - Discuss your approach to care about suppliers, customers, community, employees. (For example, to care about employees you can provide a good working environment, training and development opportunities, healthcare, etc.)
  • Planet - Discuss your approach to minimize your impact on the environment. (An example would be to create processes to minimize waste or reduce energy usage; maybe you are using recycled materials, etc.)

Additional information:

  • Check out this video to see how the concept is applied at Honest Tea Company.

“Dr. Woody Interviews Seth Goldman of HONEST Tea” (6 min 1 s)

https://www.youtube.com/watch?v=RNERSmkIUHo

  • Check out the video below for an overview of this week's discussion:

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Unformatted Attachment Preview

Week 6 Discussion ab3d23f5-3e26-4 false "The Triple Bottom Line" The concept behind the "triple bottom line" is that companies are responsible to all their stakeholders. This includes everyone who is involved with the company whether directly or indirectly, as well as the planet on which we all live. This approach sees shareholders as part of the stakeholder group, but only as part of it. Before writing your response to this week’s discussion, please review the following resource for more details on the triple bottom line: https://www.mindtools.com/pages/article/newSTR_79.htm. For this week's discussion, please respond to the following: 1. How would you implement the concept of Triple Bottom Line (People, Planet, Profit) at the NAB company you created? Notes: • • • Your response should have three headings, each focusing on an aspect of the triple bottom line as outlined below. Check out Chapter 14: Social Responsibility & Sustainability for more information. You will use this week's information in Assignment 3: Ethics and Social Responsibility Plan. 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 will help empower and sustain the community as a whole, and not just represent a benefit for the shareholders. (Briefly explain your approach.) People - Discuss your approach to care about suppliers, customers, community, employees. (For example, to care about employees you can provide a good working environment, training and development opportunities, healthcare, etc.) Planet - Discuss your approach to minimize your impact on the environment. (An example would be to create processes to minimize waste or reduce energy usage; maybe you are using recycled materials, etc.) Additional information: • Check out this video to see how the concept is applied at Honest Tea Company. “Dr. Woody Interviews Seth Goldman of HONEST Tea” (6 min 1 s) https://www.youtube.com/watch?v=RNERSmkIUHo • Check out the video below for an overview of this week's discussion: ...
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Final Answer

Hi, find attached the completed work for your review.Let me know if I should edit or change anything.Thank you.

Outline
Profit – Within the first five years of operation, Tropical Paradise Jus profits will be reinvested
into the business for expansion or updating manufacturing equipment purposes in order to avoid
or rather minimize taking any more development loans. Other profit percentages will be directed
to clearing any existing debts to ensure that the business is running debt-free or on manageable
debt levels to make all stakeholders confident in investing their time, energy and resources into
the business.
People – The Company’s major focus will be to provide high-quality products for our customers,
with the major aim being to make them appreciate the product and not feel like they are wasting
their money purchasing it. We will have customer feedback avenues through social media,
suggestion boxes, emails and even phone calls to our customer service department to ensure that
all complaints are handled promptly and their feedback is taken into consideration. Once the
company is f...

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