Triple Bottom Line The triple bottom line is a measure of an organization’s econ

Question

Triple Bottom Line

The triple bottom line is a measure of an organization’s economic, social and environmental outcomes – as a measure of long-term success. Read the section in the text which explains both the marketing concept and triple bottom line

1. What is the relationship between the marketing concept and the triple bottom line (10 pts)

2. Explain how your employer’s activities can be categorized in the triple bottom-line measures as outlined in the questions below. Make sure to identify the organization* (10 pts). Economic factors - What factor is used as measure of success for your firm and how well does the and is the marketing concept useful to them. (The objectives will depend on whether the organization is a profit or nonprofit entity ) Social - Explain the social consequences achieved by organization Environmental - Is this important for the organization in terms of how it does its business.

3. Overall, how do you rate the performance of your employer on the triple bottom line measures -- excellent, good, fair or poor? Please explain why. 10 pts)

4. What do you think that the organization needs to change to improve its performance on the triple bottom line measures? (10 pts)

*If not employed you can use a former employer.

Explanation / Answer

the said concept is coined by John Ellington in 1997, Triple Bottom Line speaks about three components, they are People, Planet and Profit. People are the human capital, where the employer should deal with fair with the labor, and provide all eminities to them along with regular payments. Planet is the natural capital, which the employer should continuously practice the eco-friendly procedures. And Profit is the economic benefit to the business concern.

1. If the employer or organization is contribution the three bottom lines in fair manner, the marketing department can high light all their practices. By doing this, they can build good brand name in the market, and they can attract more and more customers. The one who practices all these, may produce most qualitative products to their customers. Hence, customers are quality centric, definitely encourage the firm by purchasing the products.

2. Economic factor- The ulitmate measurement to any firm to assess its performance is financial returns only, i.e. profit. Here, I consider those, how much revenue is generated by the firm, and how much is distributed to the shareholders and for other unrelated stakeholders.

Social- How effectively the firm is planning social activities, and how they achieved those. The firm may spend on child education, supplying of drinking water, conducting of medical camps, providing benefits to some villages and so on.

Environmental- How best practices the firm is following towards environment. Do they really harm to the nature, how the harm is going to be minimized, and so on. Its about emission of green house gases, and how it is going to be settled.

3. I am working for ITC, and is always having good practices towards all its stakeholders. Hence, I can say that my company is performing well, and comes under GOOD category. It can still focus on many social activities than the present level.

4. If it improve the activities related to social aspects, then it can gain more value than present in the market.

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