Worksheet #3 Name: Kaitlynn Poston Please complete this worksheet by typing answers into the spaces under the questions asked. This worksheet is worth 25 points. Place it in the appropriate dropbox when you are finished. I have enabled the originality check. Do not cut and paste or directly quote from the text or other sources. If the originality check gives a score above 50% you will be asked to redo the assignment. By now you have received feedback on two worksheets. I will grade this one according to the same standards. Sustainability and International Business 1. Define sustainability. What is the triple bottom line and what is included in the triple bottom line concept? How is this an improvement in the strategy plans of a …show more content…
This is usually in reference to the resources of our environment so that future generations will be able to live like we have. In terms of business, sustainability can be defined as having minimal negative impact on the global or local environment, community, society, or economy. The triple bottom line is a framework, or measure, of sustainability made up of three parts: social, environmental, and financial. These three divisions are also referred to as the three P’s: people, planet, and profit and in turn are the three pillars of sustainability. The idea behind the triple bottom line concept is that companies are primarily responsible to all of their stakeholders, including everyone involved directly or indirectly with the company, as well as this planet. The triple bottom line concept is an improvement in the strategy plans of a manager over the old concept of a single bottom line for a few reasons. The triple bottom line concept has changed the way businesses measure sustainability and the performance of policies. The flexibility of the triple bottom line concept also allows businesses to apply the concept in a way that is most beneficial to their specific needs. It can also improve more than just a business’s financial line, it can improve the way people treat others within an organization as well as reduce their …show more content…
Historically, Jean-Baptiste Colbert is associated with mercantilism and he was Louis XIV’s Finance Minister. Mercantilism is a system of political and economic policy, which evolves with the modern national state and seeks to secure a nation’s political and economic supremacy in its rivalry with other states. It is the view that maximizing net exports is the best route to national prosperity and therefore that the only true measure of the wealth of a country was by the amount of gold that it had. Also when referring to mercantilism, it is in a country’s best interest to maintain a trade surplus; to export more than it imports. Mercantilism viewed trade as a “zero-sum game.” This is the view that a country cannot gain something without another country resulting in a loss. In reference to the Mercantilism video tutorial, he talks about a pie. In order for one person to gain a bigger piece of pie, another piece has to lose some. Self-sufficiency is extremely important when discussing mercantilism because if a country has to export more than it imports, they have to be able to be self-sufficient enough not to depend on imports from other countries. Mercantilism discourage imports because they are seen as a threat to domestic industries. Therefore, protection and regulation of foreign trade and production in their own country is crucial. To do this, the government would provide incentives in order to promote
Sustainability from a strategic business perspective is the potential for the long-term well-being of the natural environment, including all biological entities, as mutually beneficial interactions among nature and individuals, organizations, and business strategies. (O.C Ferrell, Fraedrich, Ferrell, 2015). Business sustainably is often defined as managing the triple bottom line – a process by which companies manage their financial, social and environmental risks, obligations and opportunities. These three impacts are sometimes referred to as profits, people and planet. (Business sustainability definition from financial times lexicon, no date). This essay will discuss the idea of sustainability being an important element within a businesses and its core strategies and the importance of it within different businesses. Secondly, this study will look at how different stakeholders are affected and influenced by sustainability as this could be seen as a catalyst to improving the environment as a whole and. Then this study will look at how businesses not focusing
Write a 1,050 to 1,400 word paper addressing each of the six questions at the end of this assignment.
As you read this week’s required materials, complete this worksheet. This is a multipage assignment; double-check that you completed each page before submitting.
As you read this week’s required materials, complete this worksheet. This is a multipage assignment; double-check that you completed each page before submitting.
• Please type you answers into this sheet. You must submit the worksheet two ways: 1) upload the worksheet as a Word document 2) cut and paste your answers into the student response box for the assignment.
As you read this week’s required materials, complete this worksheet. This is a multipage assignment; double-check that you completed each page before submitting.
TBL is a sustainable model for business that balances financial success, community participation together with ecological sustainability. The firm which employs triple bottom line towards capturing the set significances, processes as well as issues of the company might decrease and determine whichever harms resulting from company’s operations then create economic, social as well as environmental values of that the company. The model typically outlines that everything is supposed to taken into account that needs of the company 's shareholders, employees, stakeholders, governments, clients, business partners, local communities together with the entire public. Reporting through Triple bottom line (TBL) is currently turning out to be more ordinarily used across several sectors within
Please type you answers into this sheet. You must submit the worksheet by uploading the worksheet as a Word document
The idea of sustainability has become an increasingly common term in the rhetoric surrounding business ethics, as corporates are gaining broader acknowledgement of this pro-active method which guarantees business long-term viability and integrity by focusing on the triple bottom line. In business, the three aspects of sustainability include social, economic and environment.
Directions: It is important that you provide answers in your own words. Please focus only on information from the text/eBook to create your own solutions. Please do not use direct information from an outside source (especially copying and pasting from an “answer” website). Use of direct information from an outside source is against school policy. All answers will be checked for plagiarism. Instances of plagiarism can result in probation or possible dismissal from the school.
Use this worksheet to organize your responses to Module 1, Assignment 3. Submit this worksheet in the Module 1: Assignment 3 Dropbox no later than Day 7 of Module 1. Include vocabulary and concepts from your readings to support and illustrate your own insights. In preparation for the papers you’ll write later in this course, take the time to organize your thoughts for each question and write clearly. The completed worksheet should be not more than three pages.
The triple bottom line demonstrates to organisations that they have strategies for sustainable growth in the future (Tourism Australia. 2013) . It more importantly focuses on decision-making and accurate reporting which displays a companies economic,environmental and social performance and plans for any future
TBL is a sustainable model for business that balances financial success, community participation together with ecological sustainability. The firm which employs triple bottom line towards capturing the set significances, processes as well as issues of the company might decrease and determine whichever harms resulting from company’s operations then create economic, social as well as environmental values of that the company. The model typically outlines that everything is supposed to taken into account that needs of the company 's shareholders, employees, stakeholders, governments, clients, business partners, local communities together with the entire public. Reporting through Triple bottom line (TBL) is currently turning
A triple bottom line model never merely quantifies an accomplishment or rather the wellbeing of a company through its conventional monetary bottom line. However, it similarly measures social, ethical as well as environment performance of the company. Triple bottom line typically is an incessant process that shall assist the company in concentrating into the performance of a more sustainable business whereas demonstrating to local communities together with employees of that particular firm that it is not merely looking forward on profit making, but similarly a greater common good for the company operations (Hitchcock and Willard, 2009).