Triple bottom line (TBL) - Essay Example

?Triple bottom line (TBL) XXXXXXXXXXXXXXXXX XXXXXXXXXXXXXXX XXXXXXXXXXXXX XXXXXXXXXXXXXXXX XXXXXXXXXXXXXXXXX Table of contents 1. Introduction 2. Organization profile 3. Investigation methods 3.1.1. Method for literature review (part 1) 3.1.2. Method for the fieldwork (part 2) 3.1.3. Method for delivering part 3 4. Discussion findings 5. Literature review (part 1) 6. Chosen company CSR activities (part 2) 7. Evaluation of Relevance of CSR for company (part 3) 8. Conclusions 9. References 10. Appendix Introduction Triple bottom line and corporate social responsibility go hand in hand. Over the years, corporate social responsibility has been developing, in its initial stage, it involved only environmental issues but over the years, corporate social responsibility has also involved concepts on sustainability, employee welfare and social awareness. The paper seeks to evaluate operational benefits hunted and realized from the evidence of the business discussed with regard to TBL. Additionally, the paper also seeks to answer whether there are activities that can be carried out to incorporate TBL. The research seeks to answer the following questions; the origin of the organization, its economic, social and environmental involvement in the business. in addition, its involvement in CSR. The research was done on Bristol organization which is a charitable organization. The work contains the profile of Bristol organization, investigation methods used, findings, literature review, the activities of the organization, importance of CSR and conclusion. Organization profile Bristol organization is a charitable organization established in the year 2000. The organization is involved in charitable activities. it works together with hospitals, schools and other institution by providing them with scientific education. The organization seeks to ensure triple bottom line concepts are applied in its daily activities. it therefore seeks to achieve its goals by incorporating economic, social and environmental issues in its core operations. Investigation method For part one, I used secondary sources. I gathered information from articles and journals on the topic. Through the articles, I was able to critically assess the topic in hand. For part two I used questionnaire. I got the information from the manager of Bristol. I chose questionnaire because it is an easy method of data collection. In addition, I get to gather information first hand from the manager of the organization. The method is also interactive making the interviewee feel at ease while answering the questions. I used the findings from part 1 and part 3 to complete part 3. Discussion findings From the primary research from Bristol, we learn that, the organization has maximized on the triple bottom line concepts, even though the organization does not use triple bottom line as a framework for its business reporting. Economy wise the organization has ensured enough people are employed even though they are not that educated. Therefore, by providing employment opportunities the organization gas assisted in reduction of unemployment in society. Additionally, the organization is involved in charitable activities that assist in helping the needy therefore, contributing positively to the society. Through, sustainability initiative the organization has been able to maximize on profit. Thus, the organization has been able to improve in its service delivery. Through the green capital award, more organizations will be encouraged to embrace triple bottom line concepts in order to ensure they stay in line with organizations that are already in practice. Bristol CSR activities The operational activities practiced by Bristol include; voluntariness, this involves the company behavior to ensure all selected actions and behaviors are based on ethics, values and according to the existing laws. The company benefits from these operational activities in that it will gain respect from the community therefore maximizing on sales. Additionally, by concentrating on ethical values ensures the environment is duly conserved and eco system is encouraged (Lindgreen & Swaen, 2010, 4). Another operational benefit involves the organization will to work with stakeholders. The relationship the organization has with employees, customers and suppliers should be positive to maximize on profit making. For instance, when providing a product to customers, the organizations need to explain about the new product clearly. In addition, by creating awareness stakeholders also assist in profit maximization and environmental conservation (Norman & MacDonald, 2004, 251). Additionally, the organization need also concentrate on the relationship between the community and the organization. The company needs to have a positive relationship with the community. For instance, Bristol is involved in a number of social events especially charitable activities. Additionally, through its alternate source of energy that use sunrays. Through the activity, Bristol is able to provide for itself energy and the people around the organization. Therefore, the organization maintains the environment in the process and the people living around will benefit from the alternate source of energy. Another operational activity is working towards a natural environment. The organization needs to work with a mind of maintain a cleaner environment by putting into practice stewardship. For example, Bristol has tried to conserve the environment by ensuring it recycles products that can be recycled and those that cannot they minimize on the usage of the product. In addition, the organization has ensured its staff use less means of transport that emits carbon dioxide. Amongst all the employees more than half of the total number of staff use means of transport that conserve the environment (Lindgreen & Swaen, 2010, 5). The organization is also involved in economic activities that assist in profit maximization. Bristol for instance, ensures the whole society is provided with scientific products that ease the lifestyle of people. The organization ensures it provides its products to both normal and disabled people. this has assisted it in maximizing its profitability at the same time availing important products to the society. Relevance of CSR for the organization Bristol organization has maximized on all the operational activities that need to be done in order to maximize its potential. Nonetheless, the organization can ensure it only uses recyclable products so that to conserve the environment. The existence of global warming and technological advancement has put the world in danger therefore, it is necessary to embrace on products that conserve the environment. Even though critics claim that it is difficult to incorporate triple bottom line concepts in its daily activities, the idea is still possible. For instance, the existence of awards like “European green capital of 2015” has made a number of organizations to embark on environmental conservation to ensure they win. Through diverse social activities and involvement, organization’s performance is able to be measures not in quantifiable format but through qualitative format. Through qualitative measurement, an organization that is involved in social and environmental activities is clearly evidenced (Norman & MacDonald, 2004, 251). Conclusion The paper seeks to develop a clear understanding of how organizations can be engaged in corporate social responsibility to ensure triple bottom line concept is achieved. Additionally, organizations also incorporate corporate social responsibilities in their daily operational activities in order to achieve set goals. Therefore, through the research other organizations can learn that it is possible to achieve triple bottom line concepts. This can be done by maximizing on corporate social responsibility. References Lindgreen, A. & Swaen, V. 2010, 'Corporate social responsibility', International Journal of Management Reviews, vol. 12, no. 1, pp. 1-6. Norman, W. & MacDonald, C. 2004, 'Getting to the bottom of "Triple Bottom Line"', Business Ethics Quarterly, vol. 14, no. 2, pp. 243-62. Appendix Chris Dunford, Sustainability Manager, At-Bristol Questions 1) How long has @Bristol been operating in Bristol? At-Bristol has been operating since June 2000 2) Are you aware Bristol has been awarded European Green Capital of 2015 Yes, At-Bristol has been involved in the award since the bid and is working closely with it as an example of a sustainable project within Bristol. 3) Do you know what Triple Bottom Line is and do you use it as a framework for reporting your business performance? I am aware of Triple Bottom Line, but At-Bristol does not use it as a framework for business reporting. Economic 4) How many employees do you have at @Bristol? At-Bristol has approximately 130 members of staff, with 77 full time members. 5) Are you a non-profit organisation? Yes, we are a charity 6) How do you reinvest your profits? The majority of profits go back into the upkeep of At-Bristol, creating new exhibitions. Some of the profits also go towards new community projects and events for Bristol. 7) Have you done anything over the last 2 years to try and reduce the costs of this business? As we continue to improve our sustainability, it is helping to reduce our costs. By reducing usage of electricity, we are saving money to help us maximise our profits. Social 8) Can you give me a rough proportion of the jobs you have here that require a degree, and those that need no higher education qualifications As an estimate, I would say that roughly 30% - 40% of employees do not have a degree, so the majority are required to have a higher education degree. 9) Are there any community projects that @Bristol is involved with? We have many community projects which we are involved with. We work with hospitals, schools, prisons to try and make science accessible to everyone. 10) Is your business accessible to disabled members of the community? Yes, we were awarded‘Best Disabled Facility’ in 2004 by Group Leisure Awards.This wasvoted for by the readers of Group Leisure Magazine, the award of Best Disabled Facility recognises At-Bristol's commitment to providing full Access for All to all our exhibitions, events and facilities. Environmental 11) Does At-Bristol make a conscious effort to recycle? Yes we recycle as much as we can to ensure that a little as possible is landfill wasted. Currently we do not recycle food, but we are looking to change this. 12) What are the main ways in which your staff travel to work, and do you offer and incentives to them for green travel? Currently:Walk – 46%;Cycle – 22%;Bus – 6;Train – 4%; Car (outside Bristol) – 36%; Car (within Bristol) 4% 13) Do you have any ways of creating sustainable energy? We have had a large 50 kilowatt photovoltaic array on the roof generating electricity from sunlight, powerful enough to run 11 homes, saving 28 tonnes of CO2 a year Read More