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Week 6 Discussion Triple Bottom Line Tbl

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Week 6 Discussion - Triple Bottom Line (TBL)

Student’s Name

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Course Number and Name

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Week 6 Discussion - Triple Bottom Line (TBL)

Introduction

TBL is a theory of economics that states that firms ought to prioritize social and

ecological issues together with profit. It believes that there should be three bottom lines: profit,

people, and the planet. TBL is used to evaluate a firm's commitment to CSR and its lasting

impact on the environment (Miller, 2020). TBL does not prioritize financial profit above social

or environmental harm.

Implementing the TBL at the SnackFood Emporium

Profit. As seen through the lens of the triple bottom line, profit is expected to aid in the

empowerment and preservation of the whole community. The SnackFood Emporium will do

what it preaches by incorporating the TBL framework into all of its models. Consequently, the

organization will benefit from a variety of financial gains and, in many cases, considerable cost

reductions. The corporation will also need to rethink what it means to be successful at the

granular and corporate levels. Capitalism will be built on measurement; there will be daily

check-ins, weekly metrics, monthly evaluations, and yearly reports.

People. Companies that employ a TBL approach consider the effect of their activities on

every party involved. This involves taking into account the well-being of everyone. Employees

of the SnackFood Emporium or the Norfolk community where the firm operates will be the focus

of people-related initiatives. The initiatives will include:

i. Employee healthcare plans.

ii. Providing flexible job possibilities.

iii. Ensuring a safe and healthy workplace.

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1 Week 6 Discussion - Triple Bottom Line (TBL) Student’s Name Institutional Affiliation Professor Course Number and Name Due Date 2 Week 6 Discussion - Triple Bottom Line (TBL) Introduction TBL is a theory of economics that states that firms ought to prioritize social and ecological issues together with profit. It believes that there should be three bottom lines: profit, people, and the planet. TBL is used to evaluate a firm's commitment to CSR and its lasting impact on the environment (Miller, 2020). TBL does not prioritize financial profit above social or environmental harm. Implementing the TBL at the SnackFood Emporium Profit. As seen through the lens of the triple bottom line, profit is expected to aid in the empowerment and preservation of the whole community. The SnackFood Emporium will do what it preaches by incorporating the TBL framework into all of its models. Consequently, the organization will benefit from a variety of financial gains and, in many cases, considerable cost reductions. The corporation will also need to rethink what it means to be successful at the granular and corporate levels. Capitalism will be built on measurement; there will be daily check-ins, ...
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Tags: stakeholders Planet triple bottom line