Elkington Flashcards
1
Q
What is Elkington’s Triple Bottom Line?
A
A business model that assesses business performance based on three important areas: people, profit and planet
2
Q
What are the three areas that this model looks at?
A
- People
- Profit
- Planet
3
Q
What does profit look at?
A
Financial performance
4
Q
What does planet look at?
A
The impact of the business on the environment
5
Q
What does people look at?
A
The extent to which the business is socially responsible
6
Q
State one benefit of using this model
A
- Encourages the business to look beyond a narrow measure of performance (finance)
- Encourages corporate social responsibility reporting
7
Q
State one drawback of this model
A
- Not particularly useful as an overall measure of business performance
- Hard to consistently measure planet and people reliably
