1. Possible benefits: • Provides a sound basis for dialogue and discussion with stakeholders; • Channels pertinent information to targeted stakeholders and thus enhances corporate visibility and helps demonstrate transparency; • Helps build reputation‚ which‚ over the long term‚ will contribute to increased brand value‚ customer loyalty‚ and market share; • Encourages and facilitates implementation of rigorous management systems to better monitor environmental and social risks; • Assists the
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social and environmental concerns in their business operations and interactions with their stakeholders. CSR is generally understood as being the way through which a company achieves a balance of economic‚ environmental and social imperatives (“Triple-Bottom-Line- Approach”)‚ while at the same time addressing the expectations of shareholders and stakeholders. In this sense it is important to draw a distinction between CSR‚ which can be a strategic business management concept‚ and charity‚ sponsorships
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February 2003 by the UK government. This program sets out a long term programme of action for delivering sustainable communities in both urban and rural areas. However‚ a private sector deals with Corporate Social responsibility (CSR) and the Triple Bottom Line. Corporate Social Responsibility (CSR) is a key driver for private sector
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Abstract This paper aims at explaining the overall importance of Corporate Social Responsibility (CSR) by explaining the theoretical basis of the triple bottom line concept (TBL). This concept assumes that sustainable development can only be achieved by simultaneous implementation of environmental‚ economical and social objectives. Furthermore it will contain a brief comparison of two companies with different CSR strategies. The Koninklijke Philips N.V. will be used to explain the social criteria
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not? (The Crawford 2005 article at http://www.managementmag.com/index.cfm/ci_id/2149/la_id/1 provides additional background material.) 3. Do you agree with the statement that Johnson & Johnson’s approach to sustainability reporting is beyond triple bottom line? Why or why not? 4. Johnson & Johnson cites concerns with determining materiality as one reason it does not declare itself in accordance with GRI guidelines. What is meant by materiality and why is materiality difficult to determine for social
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successfully couple of years ago‚ it can save itself a lot of trouble. 2. Lack of triple bottom line thinking – Apple hasn’t really adopted the triple bottom line. For Apple it has usually been about maximizing its profits and addressing environmental and social issues as long as they didn’t make a significant impact on Apple’s income. Now‚ even when Apple claims to promote one of the other elements of the triple bottom line‚ like people for example‚ its practices show that it’s still really about the
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reach an extremely successful‚ company does not only concern about maximizing the profits. The framework of Triple Bottom Line was adapted to be cooperative with business field by Toshiba. In 1994‚ John Elkington who founded a British consultancy called sustainability established the Triple Bottom Line (TBL) to measure performances of organizations (The Economist‚ 2009). The Triple Bottom Line also involves with the term of Corporate Social Responsibility or CSR (Green Marketing‚ 2010). For maximizing
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Journal Article on CSR in the Philippines: The leaders of some of the largest corporations in the Philippines at the time of massive demonstration in the early 1970 following the imposition of Marital Law and the adverse effect of oil shock that brought the Global Financial crisis pushed more Filipino families into poverty. Thus in year 2000 onwards‚ pushed by new challenges such as increasingly critical consumers of products and services who demand more from the companies that produce them.
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Organisations should take the Triple Bottom Line (TBL) concept into consideration to ensure that they are not doing anything that is morally unacceptable to the society‚ environment or economy. TBL is measured in terms of people‚ planet and profit otherwise known as three Ps. Let us look at how CSR could influence the organisational behavior of ‘BreadTalk’‚ a famous local brand of food and beverage chain which started in Singapore in the year 2000. The first of the three ‘bottom lines’ is people‚ where human
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(BUS530M) October 30‚ 2012 REACTION PAPER FOR "HOW CAN SMEs EFFECTIVELY IMPLEMENT THE CSR AGENDA? A UK CASE STUDY PERSPECTIVE?" Key points Corporate social responsibility (CSR)‚ corporate governance (CG)‚ corporate citizenship and triple bottom line (TBL) became more or less synonyms for the emerging effort to determine the meaning of ethical business. In broadest sense‚ all these agendas aim to translate the complexity and holism of business-society interface into organizational realities
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