Implementing Triple Bottom Line Method in Business for Sustainability

Running head: MANAGEMENT
Management
Name of the Student
Name of the University
Author Note

1MANAGEMENT
In this paper I will be discussing my perspectives on the needs of implementing triple
bottom line method in business that will be highly helpful for the businesses to attain
sustainability. The business goals of the organizations generally rely on how sustainable it can be
in difficult situations. The business organizations in the recent times have been going through
certain crucial situations because of several social, economical and other perspectives. In this
paper, I will highlight some facts that will be very important for every business leader to
consider. This method of the triple bottom line is generally a framework in which three important
aspects related to business are intertwined (Alhaddi, 2015). This framework or model is mainly
built upon three factors. This model is mainly an accounting framework in which three crucial
aspects are social, environmental and economic.
In the beginning, it is the responsibility of the business managers to find out the
challenges they are facing. The primary challenges that are mainly faced by the organizations are
either of the three or all of these simultaneously. This is why it is the biggest responsibility of
the business managers that they can highlight the issues and be ascertained about their losses in
the business. In my opinion, business managers should make sure the fact that they cover all
these three points properly (Alhaddi, 2015). The problems in a business organization occur
mainly of their internal problems. The internal problems are often indicated towards the social
problems or cultural issues within the organization. In case of economic problems, proper
reasons should be identified after thorough analysis. In this paper, I will discuss about the
different problems that are faced by the organizations at different times and how they can be
solved by applying this triple bottom line method effectively.
Before going further with this topic, a proper discussion should be made on the triple
bottom line method. This is one of the best methods to identify the challenges and mitigate them.

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According to the basic idea of this method, I must stress on the fact that all organizations must
focus on their social and environmental responsibilities just as they focus on their financial gains.
The primary purpose of the organizations is always to gain great amount of profits. When a
company operates within a business environment, they have to look after the well being of the
environment (Alhaddi, 2015). This will lead them to address the situations that might affect the
environment because of some of their decisions. I have studied of some organizations that have
always looked into the matter of making profits and overlooking above mentioned two factors. If
they cannot look into these issues with a proper analysis, this will surely be a setback for them in
their future (Rambaud & Richard, 2015).
In the contemporary business environment, all the organizations are just thinking about
one bottom line. This is why I believe these organizations should always look forward to shift
their concerns on all of these bottom lines. All these three profits should be remembered and
focused properly (Glavas & Mish, 2015). Otherwise, they will lose their financial profits as well.
The three P’s are always given the most significance. These three P’s are people, planet and
profits. Here people signify the society, planet stands for the environment and profit means
financial profits. I am not against this bottom line of profits because it is extremely essential for
all the companies in the business to stand firm and conduct a sustainable business. This should
be achieved but it will be a difficult thing for the organizations to thrive in this complicated
business environment especially carbon footprints are getting higher (Glavas & Mish, 2015).
Besides this aspect of profit gaining, it is also very important that my organization should earn
the respect of all the people. If this is the case, I will also get the respect from people around me.
In my life I have encountered with such companies that are not all worried about their
social and environmental responsibilities. They treat with their suppliers and some internal

3MANAGEMENT
stakeholders like customers in a very rude manner and they also not care about their
environmental responsibilities (Rambaud & Richard, 2015). If they do not care about the
environment where they are doing their business, it will really be a problematic thing for them. If
the business organizations are not ethical in their business industries and they are ready to
compromise anything for making monetary profits, they will face problems in the future. In my
view, companies that do not focus on well being of their environment could be charged by the
environment protection commission of the concerned countries can ban their license. One way of
polluting the environment is by excessive emission of carbon and greenhouse gases.
In the cases of energy sector organizations, they can be charged of fracking coal from
underground. This process causes large harm to the environment. This is why companies should
be very cautious when they are conducting business especially in another country other than their
base country. I believe the biggest purpose of implementing the triple bottom line method is to
make all the organizations they are responsible for their actions to all their stakeholders, both and
internal and external ones. They must abide by all legal and environmental regulations of the
countries they are operating in. Once they do not abide by these frameworks, they lose their
credibility to their customers (Rambaud & Richard, 2015). I have grown up by seeing some
companies losing their reputation to their customers just because they have done something
unethical in their business that they should not have done. This indeed calls for immediate action
in their activities. When they will learn that their actions have hampered the business ethics, their
customers will lose their faith on them. This negative impact will surely be a problematic one for
them (Wilson, 2015).
Nowadays, social media is a very strong and effective medium to update the customers
about their activities. The companies also use their feedback procedure that would really be very