Triple bottom line
The triple bottom line is the New accounting frame work aim to go beyond the traditional measures of profits, in return on the investment, with the environmental and social dimensions for the shareholder to hold in high regard. By focusing to the performance along the interrelated dimensions of profits, people and the planet can be an important tool to support sustainability goals. Most of all the firms aim in fulfilling their first priority goal in increasing their profits by cost-cutting but in which it includes in malpractice such as the excessive use of hydrocarbons, indiscriminate logging of the Amazon basin and the exploitation of cheap labor. The company should be aware of the new frame work since ethical standards is becoming much more clear as a better choice of a good successful business. Now that the level of the knowledge and education is changing in the modern world that teach and change people’s attitude, the companies that follow TBL are viewed to be promoting products or services with best intention to the people and the world. In long term the community would decide put their trust and most of their satisfaction on.
This mission has become so popular amongst the public that it’s now a widely heeded business prerogative by global brands such as Nike and Tesco. They both are organisations that owned productions of goods or services in one or more countries other than their home country. Nike has been caught once with the over use of labour, and the people started not wanting to buy it anymore since nike seems to be a mean companu. Even more, After the western world caught with outrage to learn of the sweatshop squalid working conditions and excessive hours worked at supplier factories in the 1990s, Nike became attentive to its social responsibilities and have the commitment to the Global Alliance for Workers and communities. As well as Tesco, if with its misbehaviour, adidas could take over its market Share. No matter...
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