Friday, May 3, 2019

Triple Bottom Line Essay Example | Topics and Well Written Essays - 3000 words

Triple Bottom Line - Essay ExampleThe triple pot pull abbreviated (TBL) is a framework of accounting that utilizing the three balances performance module financial, environmental and social spheres. This negates from tralatitious frameworks of business reporting through the incorporation of environmental and social parameters. These parameters utilisation as measuringment content have difficulties that hinder their appropriate assigning in various fields. John Elkington who coined the term in 1994, endeavoured to measure sustainability in the mid 20th century through encompassing of a new measure to evaluating performances in corporate America (Elkington 1994, p. 92).This framework, known as the triple bottom line (TBL), involved going beyond traditional profits measuring strategies, as well as enthronement returns and shareholder value allowing for the comprehension of social dimensions and environmental (Elkington 1994, p. 93). Through putting emphasis on focus on comprehen sive investment results, triple bottom line serves as an important support tool for goal sustainability maintenance. Triple bottom line Interest has seen growth especially in accounting in the lines of non-profit and profit oriented organisations as well as government sectors. Many firms including non-profits have incorporated TBL sustainability frameworks in performance evaluation. Similarly federal, topical anesthetic and state levels of governments have also adopted the modules in the management of currencies and such like activities. This paper seeks to give way the concept of TBL while highlighting the practicability of the same in the business context on a global level through the utilisation of the diverse literature currently available on the issue.The dimension of the TBL commonly labelled the three Ps profits, planet and people have proven to be a vital part of business integration since their formulation by John Elkington. Even before this innovator started the idea of TBL concept for the manipulation

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