...Executive Summary This report provides an analysis and evaluation of Triple Bottom Line (TBL) accounting. Many corporations adopt and follow the novel term, along with the public increasing public concern of social and environmental performances. The research pays attention to the arguments for and against the TBL accounting in corporate accounting reporting. Many companies concur with the significance of concept to reinforce their business, yet others hold the view that TBL is accompanied by diverse debates. The findings of this review show that TBL accounting: • Refers to a good tool of the measurement of accountability and transparency • Provides a beneficial opportunity to obtain the value of a corporate name and the market share in completion • Contributes to the reduction of production cost and the conservation of environment through making use of resources efficiently • Improves corporate management and employee productivity due to the measurement of accountability and transparency • Impacts on a core competency of business and a social situation • Adjusts a methodology to measure social and environmental performances TBL accounting with economic, social, environmental activities has been some negative thus far. However, the arguments against TBL accounting, which are related to core competency, poor societies and measure standard, are still doubtful and cannot address a strong persuasive in opposition to...
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...In Press, Business Ethics Quarterly Getting to the Bottom of “Triple Bottom Line”* by Wayne Norman and Chris MacDonald March 2003 Abstract: In this paper, we examine critically the notion of “Triple Bottom Line” accounting. We begin by asking just what it is that supporters of the Triple Bottom line idea advocate, and attempt to distil specific, assessable claims from the vague, diverse, and sometimes contradictory uses of the Triple Bottom Line rhetoric. We then use these claims as a basis upon which to argue (a) that what is sound about the idea of a Triple Bottom Line is not novel, and (b) that what is novel about the idea is not sound. We argue on both conceptual and practical grounds that the Triple Bottom Line is an unhelpful addition to current discussions of corporate social responsibility. Finally, we argue that the Triple Bottom Line paradigm cannot be rescued simply by attenuating its claims: the rhetoric is badly misleading, and may in fact provide a smokescreen behind which firms can avoid truly effective social and environmental reporting and performance. Introduction The notion of “Triple Bottom Line” (3BL) accounting has become increasingly fashionable in management, consulting, investing, and NGO circles over the last few years. The idea behind the 3BL paradigm is that a corporation’s ultimate success or health can and should be measured not just by the traditional financial bottom line, but also by its social/ethical and environmental performance...
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...Study B: Better World Books 1. What are the vision, mission, and values of Better World Books? Critically evaluate them. Are they helpful to the company’s leaders in formulating strategic intent? Why or why not? Better World books has a very unique and intuitive vision in my opinion, they have found a way to make a huge profit from something that is basically is an environmental issue. Their mission is clear, they want to be the company all other companies model their companies after. They are starting a movement in which all other companies should try and emulate to be, which is a great idea because there is no cost for the books that they acquire, and at the same time turn around and make a positive impression on the earths environment and multiple communities around the world. They have taken their love for books and reading and found a way to be environmentally conscious while still creating a successful company that makes profits and bring literacy to people all over the world. Better World Books make many smart moves as a business; they invest well, and waste not. I believe that Better World Books have an ideal business blueprint that many companies can model and be financially successful while still being conscious about how you do business. 2. Analyze the ways in which BWB strives to achieve a triple bottom line. Is this business model sustainable in the long term? Why or why not? Better world books have achieved the triple bottom line approach; they have...
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...BGI COURSE SYLLABUS |Course Number and Title |MGT 553 Finance, Accounting, and the Triple Bottom Line I | | | | |Instructors |Kate Lancaster, PhD, CPA | | |kate.lancaster@bgi.edu | | |(W) 805.756.2922, (H-MB) 805.772.7452 | | |(H-BI) 206.780.1015, (C) 805.440.4618 | | |Toni Smith, PhD, CPA | | |toni.smith@bgi.edu | | |603.659.5108 | | |Brian Setzler, MBA, CPA | | ...
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... the planet, and people--often viewed as competing or contradictory. How can management integrate them to boost the "triple bottom line?" This study identifies the leadership challenges through a literature analysis and emphasizes that measurement tools often miss the point: the pursuit of an organization's particular brand of success is a journey, not a destination. [ILLUSTRATION OMITTED] Introduction "Sustainability" has come to have many different meanings. It's the latest buzzword among business, government, and nonprofit entities. Business leaders must be wondering if it's just the latest management fad of a concept that will fundamentally change how businesses are managed and measured. This paper is based on the notion that sustainability is more than a fad, but rather is creating a permanent shift in the very nature of business. Since the advent of the paradigm of sustainable development in the 1980s, the private sector has been shifting from a narrow economic conception of responsibility toward a comprehensive approach that attempts to balance economic objectives with environmental pressures and changing societal expectations (Robinson, 2000). The Brundtland Commission (World Commission on Environment and Development, United Nations, 1987) is generally credited with introducing "sustainability" in their report, Our Common Future. The report states that "Humanity has the ability to make development sustainable--to ensure that it meets the needs of the present...
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...Module Title: Business Ethics and Social Responsibility Question 1: Set out the main criticisms that have been levelled at the above three MNC's In the case of Nestle, it became evident that no formal research into the emerging market was carried out. No approached to local authorities or government agencies was made; who may have had great knowledge/insight into feeding practice within the region or problems/issues that Nestle may be faced with. They simply tried to implement existing 'western' aspirational marketing practice into a region that they knew nothing about. Their communications with the target market were poor & unclear which led to the misconception that formula was a good way to replace breast milk and other forms of nutrition vital to child development. The company did not play its role in educating the public as to the proper methods of using the product and indeed the danger of it's misuse, and also did not consider the different living conditions as a factor in which could lead to such misuse. Their aggressive marketing approach ignored or de-emphasized breast feeding & much of their promotional efforts were misleading in encouraging poor & illiterate mothers to bottle-feed rather than breast feed their infants. Advertising portrayed breast-feeding as primitive and inconvenient. Free gifts & samples were supplied by sales reps dressed as quasi-medical staff known as 'milk nurses'; which were viewed as 'endorsements by association'. Quality control...
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... 10 INNOVATIVE CONCEPT IN MANAGEMENT 1. Triple bottom line The triple bottom line refers to an accounting model in which environmental and social considerations are measured along with financial performance. The concept shifts corporate responsibility from shareholders' profits to stakeholders' interests. In other words, the triple bottom line focuses on anyone who is affected by organizations decisions, rather than focusing on investors. Because it includes social, economic and environmental considerations, the triple bottom line's goal is sustainability. Socially, a triple bottom line organization is characterized by fair business practices that benefit many stakeholders while exploiting none. Economically, the "profits" from the triple bottom line, including clean air, improved safety, clean water, etc., are shared by the society, as well as internal corporate profits that keep the business running. Environmentally, a triple bottom line organization works to reduce its carbon footprint and be responsible for the entire life cycle of its products. Social and environmental issues play a greater role in consumer and B2B choices than ever before. The "Green" movement was on the fringes of mainstream culture just a few years ago. Today, global warming, eco-sensitivity, fair trade and sustainability are issues that can have a tremendous impact on businesses of all sizes. A relatively new marketing model -- the triple bottom line -- offers businesses of all sizes an opportunity...
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...Lit Review – Public and Private sectors The public sector as defined by the Business Dictionary as being part of the national economy and provides goods and services that cannot otherwise be provided by the private sector (Business Dictionary, 2014). Examples of these goods and services range from the procurement of electricity, to cleaning services, and water management to name a few. The public sector's main focus is that of service delivery (The Student Room, 2014). Due to human induced climate change many governments have requested their public sectors to change and optimize their supply chains to cater for green purchasing. As a result of this the majority of the European Union have effectively found ways to reduce the overall effect of their purchasing activities (European Union, 2010, page 1 paragraph 1). The procurement of public goods and services in the EU is done through the life cycle approach (European Union, 2010, page 3 paragraph 1). The life cycle approach that is used by the member countries of the European Union has 5 steps (Europa, 2014), the fifth step that has been added in recently deals with all the externalities that can occur while performing the assessment. In the United States, the Environmental Protection Agency (EPA) use the more traditional four step approach to evaluate the life cycle of the goods and services to be procured (EPA, 2014). And in South Africa there is a nine step evaluation method on how procurement of public goods and services...
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...CSR REPORT I-Chiao Lin Intro to Marketing Strategy 09/14/14 The writers of the book The Responsible Company, Yvon Chouinard and Vincent Stanley, state in the start of their book that there is no single company that is responsible, but they all just choose to take different procedures towards being responsible to all of their stakeholders. The book guides employees and businesses to ensure they learn their social and environmental shortcomings and act on them in order to be more responsible. One question one asks themselves when reading this book is: What is the responsibility of the companies? Normally companies will invest highly on maximizing their stakeholders. They will direct all their attention on their direct stakeholders and unfortunately focus less on their indirect stakeholders who matter as much too. We are given a perfect example in the book of Patagonia. It poses a challenge to the companies to take ultimate accountability for their deeds in relations to each and every one of their stakeholders. Among the customers’ checklist, one of them is being progressively open about the social and environmental impact of what you make. The company should be transparent to ensure customer satisfaction and business success. They have to ensure its consumers trust them, and they will earn this only through transparency. One other item on the customers’ checklist is to make things that help the commons. The company should ensure their...
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............................................................................................. 2 I. The development of global, European and national policies relating to sustainability. 2 1. Changing attitudes of public, politicians and businesses to the environment since 1945 .................................................................................................................................... 2 2. Brundtland definition of ‘sustainable development’ .................................................. 4 3. The international and UK policies to sustainable development since Earth Summit of 1992 ................................................................................................................................ 4 4. Triple bottom line........................................................................................................ 5 II. The commercial case for considering social and environmental matters in business management .......................................................................................................................... 6 1. 2. 3. Stakeholders and how they impact on business policies ........................................... 6 Is adopting CSR policies cost-saving? .......................................................................... 7 Primark Ethical Trading ............................................................................................... 7 III. Balance between expectations of stakeholders and the social...
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...Triple Bottom Line Andrea Ciuffoli Brandman University Financial Reporting and Analysis ACCU 602 Charmaine Felder, Ph.D, CPA June 5, 2015 Triple Bottom Line Introduction On October 22nd 2013, Apple unveiled thinner iPads and faster Mac computers ahead of a competitive holiday shopping season (Gupta & Chan, 2013). The invitation to this unveiling event sent to major members of the press was teasing: "We still have a lot to cover." While millions of people were tuned in to watch Apple’s press release in order to learn about the additional features of the new products that Santa could deliver this holiday season, exactly at the same time, about one million of young people were working under awful conditions such as long hours, low wages and abusive and military-style management, in order to assemble with the highest productivity rate these exciting new devices. This is happening every day at the Foxconn plant in China. Foxconn, a Taiwanese company founded in 1974, in the past decade has gone from being one of many invisible firms in the electronics supply chain to the world champion of flexible manufacturing. Foxconn, the trading name of Hon Hai Precision Industry, is the world’s largest electronics contract manufacturer with ‘annual revenue of $131.6 billion in 2013’ ("Foxconn Hon Hai Income Statement," 2015). It is most widely known as Apple’s largest supplier. Figure 1. Foxconn Hon Hai Precision Industry Co. Income Statement Although the company had an...
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...|Professional Post Graduate Diploma in Marketing | | | |Chartered Institute of Marketing | | | | | | | |Candidate No: 13184461 | | | |Center Name: Management Development Centre (MDC) | | | | | |Subject: Emerging Themes | | | | | |Word Count for Discussion Paper: | | | |Task One: 555 ...
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...STUDY 1: GREEN COMPUTING RESEARCH PROJECT IT PROJECT MANAGEMENT Strayer University Green Computing Research Project Charter |Project Title: Green Computing Research Project | |Date of Authorization: July 20, 2012 | |Project Start Date: September 1, 2012 Projected Finish Date: August 30, 2013 | |Budget Information: The company has a projected budget of $500,000 and a goal to provide an extensive report, including detailed financial | |analysis and recommendations on what green computing technologies to implement. There will be five dedicated full-time people to work on this | |project for a six-month period and others on an as-needed basis to call upon (Schwalbe, 2011). | |Project Manager: TBD | |Project Objectives: The Environmental Technologies Program was started to improve the environment as well to increase revenues and reduce | |costs at We Are Big, Inc., an international firm with over 100,000 employees located in several countries. The Green Computing...
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...Name: Jordon M Rodney School: Ewarton High Teacher: Ms. Russell Morrison Subject: E.D.P.M Title: SBA Title Page Introduction…………………………………………………………………………. i Acknowledgement…………………………………………………………………... ii Letters Blocked style letter………………………………………………………………….............. 1 Form with a tear-off slip…………………………………………………………….............. 2 Manuscript Manuscript with paragraph heading, shoulder heading & footnotes………………………... 3-4 Tabular Work Ruled tabulation with main heading and multiple heading columnar heading………………….……..................................................................................... 5 Committee Documents A notice of a meeting with an agenda for a meeting…………………………………. 6 A chairman’s agenda…………………………………………………………………. 7 Display An invitation with a menu……………………………………………………………. 8 A flow chart…………………………………………………………………………... 9 Legal Work A Will.………………………………………………………………………………... 10 A contract of employment……………………………………………………………. 11 Bibliography…………………………………………………………………………. 12 i Electronic Document Preparation & Management (EDPM) is a Caribbean Secondary Examination Council (CSEC) exam, designed or upgraded from the typing subject. Electronic meaning that, the computer is used to train students to use basic tools – Microsoft Word, Excel, PowerPoint and the Internet to prepare certain documents. It also teaches how to manage files and folders, and also the workstation. It is then linked to real life...
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...Questions 9 1.7 Structure of Research 9 CHAPTER TWO: LITERATURE REVIEW 11 2.0 Introduction 11 2.1 Corporate Social Responsibility 11 2.1.1 Definition of CSR 11 2.1.2 The Triple Bottom Line 12 2.1.3 The Importance of CSR in Commerce 14 2.2 Social & Environmental Accounting 16 2.2.1 Definition of Social & Environmental Accounting 16 2.2.2 Social & Environmental Accounting 18 CHAPTER THREE: THE STATUS OF SEA IN Chinese COMPANIES 23 CHAPTER FOUR: THE STATUS OF SEA IN FOREIGN COMPANIES 32 CHAPTER FIVE: CONCLUSION 38 5.1 Conclusion 38 5.2 Recommendation 39 5.3 Limitation of Study 41 5.4 Suggestion of Future Research 41 REFERENCES 43 ABSTRACT It goes without say that with the increase in globalization and standardization of commercial standards of practices, the manner in with commerce views social and environmental issues vis-à-vis financial reporting has increased. Whereas various contemporary literature seem to suggest or opine differently on the impact that Social and Environmental accounting seems to offer on the greater financial reporting of companies, developed nations are now taking a joint strategy towards ensuring that such is part and parcel of their financial and annual report. Much so with Chinese companies especially at the wake of calls for Beijing to check its carbon footprint as it seeks to develop its robust economy. Based on the above premise, the ensuing research...
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