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 include variables not typically considered by financial analysts but that yet have an impact on a company’s value. Indeed, with the rise of corporate social responsibility (CSR), firms have begun to see how a business’s footprint on a community in social and environmental terms also helps to diminish or strengthen the company’s value over time (Marquis, Lee, 2013). When the company’s CSR is evident and impactful, the company’s performance can viewed in a more favorable light: a strong connection to the community and to causes that the community advocates can translate into valuable good will, consumer loyalty, and brand awareness. The TBL relates to the Customer Satisfaction Score (CSS)—another key metric in evaluating a business’s performance. Since a business is there to serve the needs of the consumer/client, rating the CSS can be pivotal in evaluating...
This is not to say that the TBL does not include financial measurements—not at all; in fact, the TBL can be measured by the three P’s—people, planet and profits.References
Elkington, J. (1994). Towards the Sustainable Corporation: Win-Win-Win Business
Strategies for Sustainable Development. California Management Review, 36(2): 90–100.
Marquis, C., Lee, M. (2013). Who is governing whom? Executives, governance, and
the structure of generosity in large U.S. firms. Strategic Management Journal, 34: 483-497.
Melnyk, S., Stewart, D., Swink, M. (2004). Metrics and performance measurement in
operations management: dealing with the metrics maze. Journal of Operations Management, 22: 209-217.
Moslyn, G. (2010). Essentials of financial analysis. NY: W&J.
Slaper, T., Hall, T. (2011). The triple bottom line: What is it and how does it work?
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