What is Elkingtons Triple bottom line

Question 1

What is Elkingtons Triple bottom line

Answer 1

model to assess a businesses overall performance which considers three factors, profit, people, planet

Question 2

examples of profit section

Answer 2

profits, profitability, payments to owners of the business

Question 3

examples of people section

Answer 3

social responsibility towards stakeholders such as
health and safety and fair pay for employees
fair trade for suppliers

Question 4

examples of planet section

Answer 4

level of waste and carbon emissions
using sustainable resources wherever possible
reduced use of non renewable resources

Question 5

3 advs of using the triple bottom line

Answer 5

focus on social responsibility

makes managers think about impact of actions on other things not just the business

recognises the long term sustainability of the worlds resources

Question 6

3 disadvantages of triple bottom line

Answer 6

its hard to measure non financial categories
people and planet are only measurable in qualitative factors
businesses may focus more on the profit element as its the easiest to measure