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Triple Bottom Line

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Triple Bottom Line

Triple Bottom Line Overview

In this module, you have learned about the benefits, drawbacks, and overall value of using the triple bottom line (TBL) in business. In this assignment, you will take a closer look at how strategies for incorporating this framework are similar and different across the manufacturing industry and the service industry.

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Prompt

Imagine you are a sustainability consultant, and you’ve been asked to create a simple handout that clarifies the similarities and differences between strategies used to incorporate the TBL into the manufacturing industry and the service industry. The handout will be provided to individuals at large and small group trainings.

Specifically, you must address the following rubric criteria:

  • Similarities: Explain the similarities that exist between incorporating the TBL framework into both the service industry and the manufacturing industry, and why.
  • Differences: Explain the differences that exist between incorporating the TBL framework into the service industry and the manufacturing industry, and why.
  • Example Strategies: Provide an example of a strategy that is appropriate to use across both the service and the manufacturing industries, and provide an example that is specific to either the service or the manufacturing industry when considering people, planet, or profit through the TBL framework. Include a brief explanation of what each example demonstrates.

Guidelines for Submission

Submit this assignment as a 350- to 500-word Word document. Use the course resource or external resources to support your comparisons. Sources should be cited according to APA style.

Module One Assignment Rubric

Criteria Exemplary (100%) Proficient (85%) Needs Improvement (55%) Not Evident (0%) Value
Similarities Exceeds proficiency in an exceptionally clear, insightful, sophisticated, or creative manner Explains the similarities that exist between incorporating the TBL framework into both the service industry and the manufacturing industry and why, using academic resources to support explanations as appropriate Shows progress toward proficiency, but with errors or omissions; areas for improvement may include providing a more accurate, evidenced, or detailed explanation Does not attempt criterion 30
Differences Exceeds proficiency in an exceptionally clear, insightful, sophisticated, or creative manner Explains the differences that exist between incorporating the TBL framework into the service industry and the manufacturing industry and why, using academic resources to support explanations as appropriate Shows progress toward proficiency, but with errors or omissions; areas for improvement may include providing a more accurate, evidenced, or detailed explanation Does not attempt criterion 30
Example Strategies Exceeds proficiency in an exceptionally clear, insightful, sophisticated, or creative manner Provides an example of a strategy that is appropriate to use across both the service and the manufacturing industries and an example that is specific to either the service or the manufacturing industry when considering people, planet, or profit through the TBL framework; also includes a brief explanation of what each example demonstrates Shows progress toward proficiency, but with errors or omissions; areas for improvement may include providing more example strategies based on the assignment directions or providing examples that are more appropriate for the described applications Does not attempt criterion 25
Articulation of Response Exceeds proficiency in an exceptionally clear, insightful, sophisticated, or creative manner Clearly conveys meaning with correct grammar, sentence structure, and spelling, demonstrating an understanding of audience and purpose Shows progress toward proficiency, but with errors in grammar, sentence structure, and spelling, negatively impacting readability Submission has critical errors in grammar, sentence structure, and spelling, preventing understanding of ideas 10
Citations and Attributions Uses citations for ideas requiring attribution, with few or no minor errors Uses citations for ideas requiring attribution, with consistent minor errors Uses citations for ideas requiring attribution, with major errors Does not use citations for ideas requiring attribution 5
Total: 100%

Triple Bottom Line

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Triple Bottom Line

1-2 Discussion: Is the Triple Bottom Line Really That Important?

Triple Bottom Line

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In your textbook, you learned about the triple-bottom-line (TBL) framework and its impact on people, planet, and profit. The TBL concept was initially developed by John Elkington in 1994. In 2018, Elkington wrote an article titled “25 Years Ago I Coined the Phrase ‘Triple Bottom Line’: Here’s Why It’s Time to Rethink It”. He used the article as a call to strengthen how the TBL is used and to put more even more focus on sustainability and less on profit. In the article, he states:

But success or failure on sustainability goals cannot be measured only in terms of profit and loss. It must also be measured in terms of the wellbeing of billions of people and the health of our planet, and the sustainability sector’s record in moving the needle on those goals has been decidedly mixed. While there have been successes, our climate, water resources, oceans, forests, soils and biodiversity are all increasingly threatened. It is time to either step up—or to get out of the way.

Meanwhile, some believe that incorporating this framework into practice raises more questions than it resolves, especially around reporting, regulation, and a deviation from the financial bottom line of businesses.

In your initial post, address the following questions:

· Do you think that it is the responsibility of businesses to track and manage the social, economic, and environmental impacts of their actions? Why or why not?

· What value does using the TBL bring to a business, and is it worth the potential drawbacks of incorporating it?

· What value do businesses using the TBL bring to society, and how might society be impacted if TBL were not a common business practice?