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The third bottom line is the planet account which is the measure of how responsible the company has been to the environment. Therefore, the triple bottom line consists of profit, planet and people. This is used to measure the financial, social and environmental accomplishments of the company over a specified period. A company that does this is taking into full account the total cost of the operations. These may also be referred to as the three pillars of business (Avella et al, 2010).
The basis of this concept is the fact that what a company measures is what the company is likely to direct its attention towards. When the companies measure their social and environmental impacts, they will pay attention to these effects. This is arguably the only way the community will have socially and environmentally responsible organizations.
The three pillars of business include the customers, systems and teamwork. Customers are a core aspect considered in the prosperity of a business. They provide the cash flow that sustains businesses. The organization must aim to succeed with its customers so as to succeed as a whole. The motivation of the organisation is to provide the customer with what they want in order to fulfil their needs and perceptions. A good team is created through synergy that is created through trust and working closely together. The executive team in charge should be able to rely on each person in the team. The team members should know their job specifications and fulfil them as expected. The team members should also receive appropriate training following their employment in the organizations on what is expected of them so as to improve efficacy in their work performance. A business should also create specific set ways of doing things and carrying out certain activities which include computer technology, communication and networks. This reduces the time it takes for procedures to be executed. Set
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This essay entails the growth and success of LPG Manufacturing Company that has grown over the last few years to become one of the most leading food packaging companies in the world. This has been attributed to a lot of hard work, determination and good management system. It is through the best of the operational management that has led to the growth and success of LPG manufacturing company.
Other industries would not also get their raw materials to undertake major duties, should manufacturing seize. It is for this reason that the survival of the manufacturing industry is extremely important to the growth of global economy. It is therefore not surprising that several national economies focus most of their attention on growing manufacturing industries and revamping least performing once (Yankson, 2005).
In contemporary firms, innovation is a highly managed process relying on formal systems to manage the process “from the resources required to innovate through the management of the process itself to the outputs”
But definition alone cannot be proof enough of the virility that it has cast on common man’s lives on a global basis. What had started with mere disputes in demand- supply equilibrium in the real estate market has turned out to be the biggest evil, spreading its grasps on almost everything that it has touched.
The evolution of e-commerce has evolved a new era of business process giving completely new meaning to the conduction of businesses. In comparison to the EDI or electronic data interchange technique that was prevalent in businesses before the introduction of e-commerce the latter’s incorporation within businesses has been extremely widespread.
The strategies of the local government have great impacts on any trade or business undertaking. In the same way, the government has a great role to play in the development of international trade market. The international trade barriers raised by governments include restrictions on business expansion, higher taxes and formalities, and the long delay for the licensing and permission.
The success of a company is determined by its ability to roll out its products to the customers through push or pull mechanisms. The preliminary design of an effective supply chain is complex and requires an understanding of the market forces and policies that affect the free flow of goods.
Next, I am thankful to each and every friend of mine for the help and enthusiasm they extended to me for completing the work without much difficulty.
I am also thankful to the University (Name of the university) for the help and learning environment extended to me for studying and preparing a dissertation on finance.
Especially, the organizations from the aerospace parts or equipment manufacturing industry are likely to take adequate strategic measures while selecting their plant locations in any part of the world (Porter, 2008; Doole & Lowe, 2008).
This paper looks at reverse logistics for Ford and how it relates to industry. It also shows that reverse logistics planning has a impact on customer service depending on how well it has been planned. Furthermore, it was found that reverse logistics are necessary for a
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