The term “sustainability” extends to a variety of policies and principles. However, it is often assumed to concern forests, greenhouse gases, and carbon footprints; as a result, this is an environmental component of sustainability. Firms are continually considering the concept of sustainability in relation to society and the environment. As a result, having a healthy atmosphere allows businesses to determine the current and future effects of their everyday operations through the gains and costs of their partnerships (Chiu, 2015). In contrast, the Triple Bottom Line System includes three success measurements: societal, environmental, and financial, which are as follows:
Source: Ms. Nickel’s LEC Earth Science Blog, 2016.
There are several positive and negative practices about the sustainability of using the triple bottom line.
Reduction of carbon emission and wastes thereby, planting trees and recycling of waste materials so that, they can be used as a source of energy for industries.
Creating sustainable future in organizations and having better design philosophies and company values on; environmental consideration, the right supply chain and on product design. For example, Nike provides designs, which are of quality and are abide by the environmental policy that is, not affecting the environment. Additionally, their products are recycled immediately thus not affecting the environment.
Organizations focusing on activities that would have direct profit and productivity but harming the ecological nature; like, cutting done trees just for cost benefits.
Practices lacking balance in decision making like having benefited from the productivity without considering a mutual relationship with the customers. For example, wrong decision on employing underage workers which against the ethical issue in the United States.
Nike the leading athletic footwear, equipment, and clothing company is devoted to motivating the athlete to reach their ultimate performance (Baranowski, 2017). Nike is working hard to provide its workers with empowering and fair opportunities. Also, Nike vision is to bring people planet and profits equal or balanced. Thus, it has recognized that sustainability is the key to future profit making and therefore, their business is to provide equitable supply chain. Moreover, if they only concern is environment or benefits and not supply chain then, they would have not succeeded.
The idea of the Triple bottom line has not only been beneficial to financial success, but also, it has provided educational, social, and environmental programs. Likewise, through the government fundings and cut off on environmental, social and educational programs have help Nike to succeed in its performance. Additionally, the company gives back to the community through focusing on children and fundraising supports on events; through this initiative, most children have had to go to summer camps (Mintz, 2017). Furthermore, the company use of triple bottom line has benefited and encouraged societal norms and values also, has had financial goals to the needs of organizations and the community.
In conclusion, organizations should use the sustainability triple bottom line to serve people, planet, and all the business practices. Furthermore, stakeholders should make decision mutually towards a bottom line pack agreement then; they can help in the development of better industrial practices. It is best that organizations worldwide incorporate the triple bottom line to customers mind. Finally, customers from suppliers in the developing countries should try to improve the working conditions so that triple bottom line could be useful and beneficial to the organization.
Baranowski, E. (2017). Triple bottom line: Nike. Prezi.com. Retrieved from https://prezi.com/3xyxxs9ohlpn/triple-bottom-line-nike/
Chiu, J. (2015). The influences of the triple bottom line within the athletic footwear industry. Retrieved from http://digitalcommons.calpoly.edu/cgi/viewcontent.cgi?article=1128&context=matesp
Mintz, S. (2017). Triple bottom line reporting: Nike pays attention to its corporate social responsibilities (CSR). Workplace Ethics Advice. Retrieved from http://www.workplaceethicsadvice.com/2012/03/triple-bottom-line-reporting-nike-pays-attention-to-its-corporate-social-responsibilities-csr.html
Ms. Nickel’s LEC Earth Science Blog. (2016). How can studying the structure of the Earth impact humans? Ms. Nickel’s LEC Earth Science Blog. Retrieved from http://msnickellecearthsci.blogspot.com/2016_01_01_archive.html
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