6907947
Description
Mind Map by Shamil Jeeawoody, updated more than 1 year ago
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Created by Shamil Jeeawoody
over 7 years ago
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Elkington's Triple Bottom
Line
- What was Elkington's purpose for it?
- A way of thinking about a business's social
responsibility and not just a method of
measuring performance
- A way of thinking about a business's social
responsibility and not just a method of
measuring performance
- What are the three main areas?
- Profit
- Most familiar for managers
- Figures recorded in firm's financial
statements
- Can help sustain the broader community in which
the business operates
- Most familiar for managers
- People
- Social responsibility
- Managing its business to take into account the
interests of society in general, especially stakeholders
- Managing its business to take into account the
interests of society in general, especially stakeholders
- Health and safety matters
- Safe working environments
- Safe working environments
- Financial matters
- Fair pay to employees
- Paying suppliers fair prices promptly
- Fair pay to employees
- Social responsibility
- Planet
- Minimise impacts of activities on environment
- Actions
- Reducing carbon emissions, easily measurable
- Reducing wate
- Sustainable sources of raw materials
- Reducing carbon emissions, easily measurable
- Actions
- Minimise impacts of activities on environment
- Profit
- Benefits of using the triple
bottom line
- Encourages businesses to think beyond just
profit
- Encourages businesses to think beyond just
profit
- What is it?
- Management tool allowing managers to think of the repercussions
of their actions not just on profits but on society and the
enironment
- Management tool allowing managers to think of the repercussions
of their actions not just on profits but on society and the
enironment
- Limitations
- Profit can be quantified whereas
'people' and 'planet' can only be
measured qualitatively
- The conventional way on
measuring performance is
through profits
- Profit can be quantified whereas
'people' and 'planet' can only be
measured qualitatively
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