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In the era of globalization and technological advancement, the challenges of sustainability are getting thresholds of prominence to the external stakeholders, customers and long-term approaches of companies. Researchers reveal that the executive of sustainability in organization…
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Download file to see previous pages According to John Elkington, the best framework to measure performance and maintain sustainability in organization is the triple bottom line. The triple bottom line is defined as the accounting framework and structure which consist of three parts such as financial, ecological and social. Several businesses has implemented triple bottom line framework within the organization to evaluate and estimate its performance. John Elkington coined the triple bottle line which takes in to account the environmental and social performance of organization. Three measures of triple bottom line introduced by Elkington include people, planet and profit. In case of people, it includes favourable and reasonable business performs. According to the theory of triple bottom line, planet can be measured by the lessening of environmental effect and usage of sustainable environmental performs. The profit of organization can be measured by evaluation of economic value which is formed by the business. Elkington argued that it is vital for organization to change their focal point on finance to the environmental, economic and social impact of the company. The prime purpose of the project is to provide detailed analysis about the concept of the triple bottom line. Furthermore, the paper also discussed about the complications of measuring environmental and social influences towards a business.
In 1994, John Elkington coined the triple bottom line. The argument of Elkington is that every organization should be prepared to measure three bottom lines such as profit, planet and people. The triple bottom line is defined as the implementation of actions and policies to measure the environmental, social and financial effect on organization (Adrian, 2000, p.18). Moreover, this framework helps to regulate the feasibility of organization for being sustainable. There is no secret that the environment of business and world is altering. Therefore, it is vital ...Download file to see next pagesRead More
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