Triple Bottom Line & Factors of Creating a Business Idea

Question 1

Who are entrepreneurs?

Answer 1

Individuals which have a good or service idea which is made into a profit-making business.

Question 2

What are the four entrepreneurial behaviours?

Answer 2

Innovation (originality), social impact, entrepreneurial passion and market potential.

Question 3

What is Triple Bottom Line

Answer 3

Has three main aspects: Financial, Social and Environmental (Also known as people, planet, profit).

Question 4

What does financial mean in TBL?

Answer 4

Concerns the profit and loss of a business

Question 5

What does social mean in TBL?

Answer 5

Concerns the people (within and out) the business and how it impacts them.

outside = indirectly impacted

Question 6

What does enviornmental mean in TBL?

Answer 6

Concerns with how the business impacts the natural enviornment.

Question 7

Why is it important to think beyond profit?

Answer 7

To evaluate impact on enviornment and improve productivity.