Elkington's triple bottom line Flashcards
1
Q
what is the concept
A
shareholder v stakeholder concept where businesses objectives should be more than just profit
2
Q
what are the 3 parts
A
planet
people
profit
3
Q
planet
A
environmental performance:
measure the impact organisation has on environment
4
Q
people
A
social performance:
. focus on stakeholders through employee welfare
. customer satisfaction
. supply chain management and community project
5
Q
profit
A
economic performance:
. focus on financial measurements
.focus on shareholder returns
.focus on gearing ratio
.focus on ROCE
HOWEVER businesses cant only focus on this sector as it will affect them in long term
