Business planning and strategy-Elkington's Triple bottom line

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What are the 3 elements involved in the Elkington's Triple bottom line model?
People-Social performance
Profit- Economic performance
Planet-Enviromental performance
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What does this model encourage businesses?
To take a broader approach to business performance
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What are 3 limitations of this model?
-Profit is the traditional measure of success
-Profit is closely linked with business value
(share price/market capitalisation)
-Profit is often the basis for financial incentives
(senior management bonuses)
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What does profit, people and planet aim to measure?
The financial, social and environmental performance of a business over a period of time
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2 Examples of profit in a business?
-R&D
-Reinvest money
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2 Examples of people in a business?
-Staff(wages/motivation)
-Shareholders(dividends)
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2 Examples of planet in a business?
-Reduce carbon footprint
-Receive awards
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What are 3 benefits of measuring the triple bottom line?
-Encourages businesses to think beyond narrow measure of performance(profit)
-Encourages CSR reporting
-Supports measurement of environmental impact/extent of sustainability
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Card 2

Front

What does this model encourage businesses?

Back

To take a broader approach to business performance

Card 3

Front

What are 3 limitations of this model?

Back

Preview of the front of card 3

Card 4

Front

What does profit, people and planet aim to measure?

Back

Preview of the front of card 4

Card 5

Front

2 Examples of profit in a business?

Back

Preview of the front of card 5
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