MYTUTOR SUBJECT ANSWERS

580 views

What is the Triple Bottom line?

Studying Business you must have heard the bottom line of companies is to make profit, this is the only thing firms should worry about, right? Well some people think otherwise.

In a whole new school that we call Corporate Social Responsibility academics and professionals believe there is more to business than just profits. This is where the Triple Bottom Line came from.

In 1997 Elkington devised a model he called the Triple Bottom Line whereby companies shouldn't only care about economic bottom lines but also about social and environmental ones, the three bottom lines. Since companies are such big entities that contain a lot of people over different countries and make a lot of money, Elkington (and others) believes they should have a bigger responsibility towards their society and community, be accountable and responsible for their actions.

The field of Corporate Social Responsibility (CSR) is in effervescence right now with all the environmental and social problems we are seeing everywhere in the world, and the Triple Bottom Line is an introduction to that School of thought.

What do you think about the Triple Bottom Line? Do you think Elkington was right or should companies only make profit? Do you know a company that has gone out of its way to benefit its social community or environment? Was it a big multinational company like Nike or a small local charity?

And just like that you have applied the concept of the Triple Bottom Line and started thinking about CSR!

Lonie S. IB Business Studies tutor, GCSE Business Studies tutor, A Le...

1 year ago

Answered by Lonie, an A Level Business Studies tutor with MyTutor


Still stuck? Get one-to-one help from a personally interviewed subject specialist

9 SUBJECT SPECIALISTS

£20 /hr

Matthew M.

Degree: MSci Computer Science (Masters) - Lancaster University

Subjects offered:Business Studies, Maths+ 3 more

Business Studies
Maths
Economics
Computing
-Personal Statements-

“About Matt: I'm Matt and I am a computer science student at Lancaster University. I have often been described as being friendly and hardworking by my friends, family and work colleagues. Prior to University I worked in the industry as...”

£20 /hr

Modupeola A.

Degree: Accounting and Finance (Bachelors) - Edinburgh University

Subjects offered:Business Studies, English Literature+ 4 more

Business Studies
English Literature
Economics
Accounting
-Personal Statements-

“I am a part-time tutor studying Accounting and Finance at the University of Edinburgh. I look forward to working with you to achieve your target grades. ”

£20 /hr

Dan G.

Degree: Business Management (With a Year in Industry) (Bachelors) - Exeter University

Subjects offered:Business Studies, Religious Studies+ 2 more

Business Studies
Religious Studies
Philosophy and Ethics
Geography

“The Lesson Experience : My lessons will be highly tailored to the student in question as I respect as a student my self that no two people learn effectively in the exact same way. However consistent features of the lessons will include...”

About the author

Lonie S.

Currently unavailable: for new students

Degree: MSc International Business and Emerging Markets (Masters) - St. Andrews University

Subjects offered:Business Studies, French

Business Studies
French

“About me:  I am an International Business Master student at the University of Edinburgh and have just graduated from my Bachelor in Management with First Class Honours in June 2015. I have had experience of teaching and tutoring at pr...”

You may also like...

Posts by Lonie

How can I use the Imperative?

What are Porter's Five Forces and how are they used?

What is the Triple Bottom line?

Other A Level Business Studies questions

how many users are invoked in business meeting?

Define the term 'added value'.

What is a benefit of market segmentation?

What are Porter's Five Forces and how are they used?

View A Level Business Studies tutors

We use cookies to improve your site experience. By continuing to use this website, we'll assume that you're OK with this. Dismiss

mtw:mercury1:status:ok