Commitment to Corporate Social Responsibility implies that an organization is dedicated beyond the traditional focus of simply increasing revenue. By focusing beyond profits, organizations promote ethical behavior and responsible policies. This balanced approach, now recognized as the Triple Bottom Line, has developed into a standard for measuring organizational performance in three key areas: environment, profitability, and social responsibility.
For this activity, respond to the following:
- Describe the three elements of the Triple Bottom Line.
- Which one of these elements do you believe is most important? Explain your reason(s).
- Which one of these elements do you believe is least important? Explain your reason(s).
- Can a manufacturing organization afford to ignore any of these three elements? Why or why not? What effects could result in the organization from ignoring these elements?
A minimum of one reference is required.