This would justify the introduction of complex, nuanced and creative correlations into any number of fields. For instance, this would change the discourse on organizational theory, a context in which reductionism governed industrial era thinking. The Systems Theory offered a counterpoint to the simplification of certain labor and resource approaches, helping to pave the way for the prospects of labor improvement and, increasingly, sustainability. Indeed, the Systems Theory is implicitly endorsed by such constructs as the Triple Bottom Line theory. This is a construct which is growing in influence and is somewhat deceptively couched in what seems to be a simplification of organizational principles. The Triple Bottom Line theory argues that organizational success can be achieved through a simple three-pillar model which concerns people, profits and planet. (Votaw, 1) In spite of its rhetorical simplicity, this denotes an overlapping of rather complex ideas. Votaw...
It measures performance in three ways: by social, economic and environmental factors." (Votaw, 1)
In some cases, they have a direct vote: shareholders aligned with activist groups have been increasingly successful at forcing proxy votes on social and environmental issue" (Savitz & Weber, 2006). Even more, politics are indirectly connected with TBL practices and stakeholders. The connection is made by stakeholders that may vote for or against candidates that favor or not the company in case, thus affecting the future activity of the company. As
Social and Environment Justice The triple bottom line covers both the social and environmental dimensions. Justice might be a vague concept but it is one of those "you know it when you see it" ideas, for which any company can and should develop specific metrics. Social justice can be focused along three dimensions -- the supply chain, the internal and the external. The supply chain is given special treatment among external
triple bottom line reporting and its use in gauging the level of corporate sustainability. The concept of triple bottom line reporting is shown to be effective in ensuring that the corporate sustainability concerns are addressed and business takes account of the outcomes. This is done using a review of relevant literature in order to point out the success factors as well as the threats that face TBL reporting programs. The
triple bottom line goes beyond measuring profits, and seeks to be a new measure of performance in corporate America. There are three dimensions of performance: social, environmental and financial (Slaper & Hall, 2011). The financial element of the triple bottom line encompasses the traditional financial measures, for example profits, margins and market shares. These remain as vital measures within the TBL concept. What the TBL does is expand on the
Ethics Over time, various models have been developed in an attempt to bring into focus not only behavioral, but also structural ethical performance of organizations. These include the Triple Bottom Line, the Balanced Scorecard, and the Six Sigma. This text will concern itself with the Balanced Scorecard and the Triple Bottom Line. Components of the Balanced Scorecard and the Triple Bottom Line and How they Can be Utilized to Enhance Ethics
The triple bottom line (TBL) framework, developed by Elkington (1994) is one of the most important performance metrics for operations managers because it goes “beyond the traditional measures of profits, return on investment, and shareholder value to include environmental and social dimensions” (Slaper, Hall, 2011, p. 4). By including environmental and social dimensions, the TBL metric allows operations managers to better understand how a company is performing across measures that
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