Analysis Cannibals With Forks The Triple Bottom Line...

AWE OLUWADAMILOLA H00030588 INTRODUCTION Triple bottom line (shortened TBL/ 3BL) is a bookkeeping context in 3 parts: Social, Environmental (or ecological) and Financial. They are also known as 3 P’s - People, Planet and Profit, or â€Å"3 supports of sustainability. ANALYSIS, CHALLENGES CONFLICTS An expression created in 1994 by John Elkington then later used in his 1997 book Cannibals With Forks: The Triple Bottom Line Of 21st Century Business telling the distinct financial, social and environmental bottom lines of establishments. TBL measures establishment s economic significance, people account – which measures establishment s rate of social concern and the establishment s planet account – which measures the establishment s ecological accountability Elkington s TBL is projected towards developing the aim of sustainability in trade practices. The 3 methods embrace: †¢ Profit (economic assessment generated by establishment, or economic advantage to public as well as society), †¢ People (reasonable and positive trade practices regarding labor and the community where the establishment conducts its trade) and †¢ Planet (Sustainable environmentally friendly performs as well as reduction of environment effect) A contest with TBL is that it is challenging linking people planet accounts in relations to cash – the manner which profit account is measured. Hence, the 3 distinct interpretations cannot be added or joined, and must be measured distinctly. 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