2.4 Triple Bottom Line for Planning and Reporting

Question 1

what is triple bottom line?

Answer 1

financial, social and environmental.

Question 2

what is the financial part of triple bottom line?

Answer 2

concerned with profit and loss.

Question 3

what is the social part of triple bottom line?

Answer 3

concerned with how people (within and outside) the business are
affected by the business.

Question 4

what is the environmental part of triple bottom line?

Answer 4

concerned with how the business impacts the natural
environment.

Question 5

how can a business improve its social performance?

Answer 5

➢Providing safe working conditions
➢Providing sufficient training
➢Paying above minimum wages
➢Allowing employees to have a healthy work-life balance
➢Treating employees and members of the community with respect and fairness
➢Purchasing supplies from local and/or socially responsible suppliers

Question 6

How can a business improve its environmental preformance?

Answer 6

➢Reducing the wastage of resources
➢Provide greater protection and/or restoration to the natural
environment
➢Using renewable energy (wind power, solar energy, etc)
➢Using recyclable materials / resources
➢Purchasing resources from eco-friendly suppliers

Question 7

how can Improving your social and environmental performance improve your financial performance?

Answer 7

• You may enhance your business reputation and image
• You may attract and retain employees
• Customers are likely to be more loyal
  = Improved profits