Social Responsibility And Triple Bottom Line - 1674 Words

Introduction The statement, â€Å"It isn’t enough for a multinational corporation to be socially responsible; they must be a triple bottom line company to meet their ethical obligations,† is a brave statement on the surface. Breaking down and explaining the statement, plus providing insight to social responsibility and triple bottom line, will help to understand the impact of the statement. In addition, the narrative will explore the underlying outcome from social responsibility and triple bottom line, known as wealth redistribution. Breaking It Down A multinational corporation is one that does business in two or more nations around the globe. The statement emphasizes that a global business has to go further than just being socially responsible, in an effort to adhere to its ethical duty. When a company is socially responsible it is practicing the corporate value of giving back to communities, through financial, legal, ethical, and philanthropic support. Moreover, the statement proclaims that it is vital for global organizations to adhere to their ethical duty by being a triple bottom line (TBL) company, assuming that the driving factor of a TBL company is the ability to meet a supposed ethical obligation imposed on them by keeping profits, people, and the planet in mind during all business practices and transactions. Breaking down the statement affords the ability to test the veracity of the declaration with greater knowledge of the hypothetical adherence to ethical obligations.Show MoreRelatedSocial Responsibility And Triple Bottom Line1427 Words   |  6 Pagesfor a multinational corporation to be socially responsible; they must be a triple bottom line company to meet their ethical obligations,† is a brave statement on the surface. Breaking down and explaining the statement, plus providing insight to social responsibility and triple bottom line, will help to understand the impact of the statement. In addition, the underlying outcome from social responsibility and triple bottom line, known as wealth redistribution, will be explored. Breaking It Down A multinationalRead MoreThe Triple Bottom Line Is A Global Authority On Corporate Social Responsibility And Sustainability1005 Words   |  5 PagesHowever, the triple bottom line is a typical concept used often when talking about the subject of sustainability within a business. John Elkinston, a global authority on corporate social responsibility and sustainability coined the phrase for the first time in his book ‘Cannibals with Forks: The Triple Bottom Line of 21st Century Business’, in 1997. 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According to the article entitled, Theories of Corporate Social Responsibility, the term, Systems Theory, actually involves studying theRead MoreA Lecture On International Sustainable Tourism1218 Words   |  5 PagesTriple Bottom Line During a lecture in International Sustainable Tourism, we discussed the Triple Bottom Line or Triple Bottom Line Reporting, which means expanding the traditional reporting framework to take into account environmental and social performance in addition to financial performance. This framework is becoming an accepted approach for organizations to demonstrate they have strategies for Sustainable Growth. It focuses on decision-making and reporting, which explicitly considers an organization’sRead MoreAnalysis Of Jetblue Airways And British Airways1573 Words   |  7 Pagesutilized concepts , such as corporate social responsibility in relation with triple bottom line, to shift the airline industry into becoming a forward-thinking industry embedding sustainability into their core of business operations to create shared value for business and society. I will define corporate social responsibility and areas of social responsibility in the airline industry at the beginning of the pap er and proceed with how it ties into the bottom line concept. Next, I will give brief examplesRead MoreTriple Bottom Line Model Analysis1743 Words   |  7 Pages Triple Bottom Line [Name] [Institution] Triple Bottom Line Introduction A triple bottom line model never merely quantifies an accomplishment or rather the wellbeing of a company through its conventional monetary bottom line. However, triple bottom line similarly measures social, ethical as well as environment performance of the company. Triple bottom line typically is an incessant process that shall assist the company in concentrating into the performance of a moreRead MoreThe Triple Bottom Line Model1745 Words   |  7 PagesThe Triple Bottom Line Introduction A triple bottom line model never merely quantifies an accomplishment or rather the wellbeing of a company through its conventional monetary bottom line. However, triple bottom line similarly measures social, ethical as well as environment performance of the company. Triple bottom line typically is an incessant process that shall assist the company in concentrating into the performance of a more sustainable business whereas demonstrating to local communities togetherRead MoreInsight Into the Triple Bottom Line1106 Words   |  5 PagesThe notion of the triple bottom line has become fashionable to be applied to management, consultation and investment over the last few years. The trend towards greater transparency and accountability in public reporting is reflected in revealing a more comprehensive performance which includes not only financial factor but also social and environmental ones. Despite the trend, there are still some people in mainstream sectors are to make profit regardles s of environmental and social cost, because they