Essays on Triple Bottom Line

Business Sustainability Strategies

Describe (or summarize) three dimensions of sustainability (i.e., triple bottom line) based on your understanding (Include examples) Business sustainability also defined as managing the triple bottom line refers to the process through which business entities apply in managing their financial, social and environmental obligations, risks and opportunities with the three impacts better referred to as profits, people and planet respectively (BCG 1). The three pillars or dimensions of sustainability include economic, social and environmental aspects such that the economic pillar makes the business equitable, the social pillar make the business activities bearable while the environment pillar makes the business ...

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INTRODUCTION

The following discussion is a literature review on five sources each for sustainability monitoring systems and effective indicators.

Sources for Characteristics of Good Monitoring Systems

“Monitoring Systems for Sustainability. What are they measuring?” This is a doctoral thesis from an Australian university that examines the sustainability reporting and monitoring systems by governments, private corporations and global non-governmental organizations. Australian frameworks are compared to those of international models. Sustainability indicators in the Australian context are discussed extensively. Two case studies from the private sector are presented. (Davidson, 2008) Using the case study of the Australian Gas Light Company, shortcomings in current sustainability reporting practices ...

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Introduction

Change is a process that impacts all organizations. As observed by management expert, Kurt Lewin, “group life is never without change, merely differences in the amount and type of change exist” (Burnes, 2004, p. 981). Most change initiatives, however, fails because of the tendency of people to resist change. People, according to management experts, fear change and so they tend to revert back to old ideas and practices even if the change is for the better. This tendency of the individuals to resist change affects the organization as a whole. Also, the longer the ...

Introduction

This report aims to analyse the Triple Bottom Line theory in accordance to sustainability methods and processes. The event which will be related to this study will be Tomorrowland the festival which has been held since year 2005. The sustainability policy of the event’s business processes and operations will be critically assessed and appraised which will be aligned with suitable recommendations for more effective sustainability methods.

Tomorrowland

Tomorrowland is an Electronic Music Festival held in Boom, Belgium every year since 2005. The target audience of the festival are young adults from ages 18 to 27. Their socioeconomic target are ...

Introduction 3

Earth Hour at Hilton Woodland Hills 3 2015 Earth Hour Activities 4

Business Strategies and Commitments 4

Analysis: Significance of Earth Hour Activities 5 Application of Stakeholder Theory, CSR, and TBL Approaches 6 Stakeholder Theory 6 CSR 8 TBL 9 Conclusion and Recommendations for Sustainability 9 Hilton Woodland Hills/Los Angeles Earth Hour Commitment and Sustainability Report Introduction Hilton Hotels and Resorts, one of the leading and most prestigious hotels in the world, is the organization that will be tackled in this report based on its participation in the 2015 Earth Hour. Hilton Hotel is considered to be one of the titans in the industry ...

Discussion of Banyan Tree Green Homes Program

Banyan Tree Green Homes Program 3 Introduction 3 Concepts and Theories of Sustainability 3 Analysis of Banyan Tree Green Homes Program 5 Sustainability Motivations 6 Sustainable Business Practices 7 Benefits of Adopting Sustainable Business Practices 8 Challenges Facing Sustainable Business Practices 9 Recommendations 10 Conclusion 10

References 12

Banyan Tree Green Homes Program Introduction The hospitality industry is an important part of social, economic and environmental development given its role in leisure services and tourism throughout the world. Given the rapid changes observed in the industry, it is important to understand the potential threats that the various activities undertaken in hospitality ...

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The Lawyer-Client Relationship The lawyer-client relationship should be based on trust and confidentiality. Under no circumstances should a client lie to his or her lawyer as well as under no circumstances should a lawyer incriminate his or her client for telling them the truth. A problem in trust and confidentiality will result to poor lawyer-client relationship, which could significantly impact the outcome of a case. Trust and confidentiality problems arise when the client withholds some information from his lawyer for fear that his lawyer will back out. There are clients, for instance, who are guilty of doing ...

Issues

The Corporation is an investigative report about the wrongdoings of corporations. The issue is about all the evil that corporations do. Corporations are responsible for many problems in the world including poverty and the exploitation of people, toxic chemicals and wastes, genetic manipulated organisms, warped consumer mentality, among other things. Some of the products they produce do not serve society any good but mainly to earn corporations huge profits. Corporations—large, multinational corporations in particular—exist to earn profits for themselves.

Portrayal of Corporations

The documentary portrays corporations mainly as evil. Although the documentary is truthful and the evidences it presents can ...

Petronas, which is short for Petroliam Nasional Berhad, is one of the most profitable companies in Malaysia. The company is ranked among the largest corporations in the world on the Fortune 500 and is one of the most profitable businesses in Asia. Petronas was established in 1974 and is Malaysia’s fully integrated oil and gas company. Unlike other some countries where private individuals run the oil and gas companies, in Malaysia, the government (sole owner of Petronas), used its power and took control of the country’s natural resources. Since its inception, the company has grown and developed ...

Executive summary

The National Bank of Canada has its headquarters in Montreal, and it is Canada’s sixth largest bank. It was started on 4th May 1859 by the francophone business people in Banque and Ontario. The bank has 2.4 million personal clients and most of its branches in the Canadian provinces. It has many representative offices partnerships and subsidiaries in other countries where it serves both non-Canadian and Canadian customers. The bank’s management structure consists of the board of directors and the office of the president. The bank is upholding a proper governance system and appropriate ethical strategies to ...

Introduction

This report takes into consideration the application and the strategies that Petsmart Company has in line with their ethical structure, the governance structure and the corporate social responsibility for the present and the future. Additionally, the business report highlights the present position of the Petsmart Company in these three categories. The company is described as one of the largest pet and veterinary product retailer services provider and the solution for pet and the owners (Petsmart, 2016). The information provided by the company’s profile is that the company has more than 50,000 associates and another 1,466 pet ...

Abstract

The current discussion is aimed at the dissection of ethics, corporate social responsibility and sustainability of British Petroleum (BP) by taking the case of Gulf of Mexico Oil Spill in to consideration. By commencing the discussion with an overview of the externalities present in the oil industry, the pressures on oil companies are examined which is further evaluated through the application of stakeholder theory and the theory of utilitarianism. In the case of BP, it is revealed that the resort to CSR was primarily a reactive measure to correct its tainted brand image and save it from reputational risks. ...

A. Select a leader who you feel has exhibited exemplary ethical conduct and do the following:

1. Discuss at least two ethical traits that the leader demonstrated. A good example of an individual that exhibited ethical leadership is Sallie Krawcheck. Krawcheck is the current CEO and Co-Founder of Ellevest, and Chair of the Ellevate Network. Her previous employment include head of Bank of America’s investment banking division, CEO of Merrill Lynch’s wealth management division, and CEO of the Wall Street research company Sanford C. Bernstein & Co.. In an industry wherein fraud and dishonesty are rampant, Sallie Krawcheck’s ethical leadership was exemplary. As observed by Fortune Magazine columnists, the quest for an honest ...

ITC Ltd.

ITC Ltd.

Introduction

ITC limited is a major organization in the Indian market as it employs more than 29,000 workers in 60 locations throughout the country. As of the year 2011, ITC was the biggest tobacco company in the Indian market, controlling a 75 percent of the market share (Ojha 1). The impact of ITC is both positive and negative on the Indian economy. ITC has been participant in several social responsibility activities, which are part of ITC’s obligation to serve the community from where it makes money. The negatives of ITC are the health related problems caused ...

Question 1

What makes a business a sustainable one? Discuss the theory and practices associated with sustainability using examples from your own learning during the module. Sustainable business refers to a business model that has low negative impacts to the environment, society and to the economy at large. A sustainable business is the one that has the ability to meet the triple bottom line (TBL). TBL is an accounting framework that encompasses the social, environmental and financial responsibilities. This termination was coined by John Elkington in his 1994 publications on the triple bottom line. He reflected on the drivers that had ...

Ref: Sustainability Methods

Sustainability in an organization is the durability of policies, processes, methods and systems in the organization. The main objective of sustainability is sustainable development. Sustainability is, therefore, the key objective of many firms. It ensures the firm achieves the long-term objectives. Rotary international is an organization that operates across the globe and employs sustainability as a key factor in its operations. Different factors have thus affected the sustainability process of the Rotary international.

The relevance of mission and vision to the sustainability of the organization

Mission and vision statements of an organization play a significant role in the success of a company. The mission and vision statements of the company help ...

Reflection Paper for Civil Engineering Senior Project

The definition of sustainability according to World Commission has been found to lack specificity. However, the triple bottom line (TBL) has been widely used to act as a starting point towards identification, monitoring, and development of actions forming three facets of sustainability: the environment, economy, and social equity (Stenzel, 2010). Every project designed has an impact on at least one of the following factors: the environment, the society, or the economy. When designing a project, there is a need to take into consideration the impact of the project on the environment, the society, and the economy. In the context ...

The triple bottom line

The triple bottom line is defined as an accounting framework that contains tree parts namely, profits, people, and the planet. From the first structure, profits, it used to measure the economic value that has been created by the company and the economic benefit that is earned by the community and the society surrounding the company. In this case, it depicts how the Hilton hotel has improved the quality of their services and products such that customers are ready to pay extra for their goods and services. In the part of the people, it measures the extent in which the ...

The AEG Sustainability Program

Introduction Sustainability should be of great concern to all companies in the events industry. Their business activities have a great impact on the environment. There are many new developments in sustainability, both in theory (including an increasing body of academic literature) and in practice (such as new industry guidelines, accounting frameworks like Triple Bottom Line, and corporate certification schemes) (Sachs, 2015). Corporate management in events companies is, of course, in the best position to make business decisions consistent with the growing awareness of sustainability issues. However, other corporate stakeholders can also become engaged when necessary to assure that their ...

Introduction

Corporate social responsibility is the main topic of this paper and from our class notes the definition of corporate social responsibility is the process in which organizations take responsibility for the impact of their activities on all members of the organization. These members may include employees, customers, suppliers, shareholders, communities and a wealth of other vested individuals. The corporate social responsibility extends also to the environment. In this vein the direction is not on legal statute responsibility but the voluntary steps to do the right thing by corporations. These steps help to improve the quality of life for employees ...

Over the last two decades, corporate social responsibility has gained deep interest from accountants and auditors. It happens because substantial amounts of financial resources are invested in corporate social responsibility; yet there are not explicit accounting policies and standards to report on corporate social responsibility financials and activities (The Institute of Internal Auditors, 2016). Owing to this, there has been varied views and discourses on the conduct of corporate social reporting with many commentators focusing majorly on the triple bottom line reporting as a prelude to corporate social reporting. The current paper presents a detailed review of the ongoing ...

1(a) The use of tobacco follows the law of demand as evident from the inverse proportion of prices of tobacco with the consumption of tobacco. As the prices go up, the consumption falls. The economic theory of tobacco demand assumes the presence of an individual’s function of utility. The utility for an individual from consumption of tobacco depends on the amount of tobacco consumed derived from the taste and satisfaction of the individual. The constrained maximization determines the tobacco’s demand function where the consumption of tobacco is related to the price of tobacco, prices of substitute products, ...