Part 1: Please answer the below in a min of 250 words.
“The Triple Bottom Line”
The concept behind the “triple bottom line” is that companies are responsible to all their stakeholders. This includes everyone who is involved with the company whether directly or indirectly, as well as the planet on which we all live. This approach sees shareholders as part of the stakeholder group, but only as part of it. Before writing your response to this weekâ€™s discussion, please review the following resource for more details on the triple bottom line: https://www.mindtools.com/pages/article/newSTR_79.htm.
For this week’s discussion, please respond to the following:
- How would you implement the concept of Triple Bottom Line (People, Planet, Profit) at the NAB company you created?
Keep the following format in mind as you complete this week’s discussion:
- Profit – When looking at profit from this theory’s perspective, the idea is that profits will help empower and sustain the community as a whole, and not just represent a benefit for the shareholders. (Briefly explain your approach.)
- People – Discuss your approach to care about suppliers, customers, community, employees. (For example, to care about employees you can provide a good working environment, training and development opportunities, healthcare, etc.)
- Planet – Discuss your approach to minimize your impact on the environment. (An example would be to create processes to minimize waste or reduce energy usage; maybe you are using recycled materials, etc.)
Part 2: Please comment on the students discussion post below in a minimum of 150 words. (Natalie)
Corporate social responsibility is an important part of Tea Temptations’ business model. Our core values revolve around making positive impacts on our customers, our employees, our communities, and the planet.
Tea Temptations is a B Corp benefiting the local communities that our products are manufactured and distributed in â€“ primarily Thousand Oaks in Southern California. Portions of profits will go back into the community supporting local causes including healthy meals in schools, and maintaining the public spaces that our target market enjoys, such as the Santa Monica mountain range, and multiple state parks. There will be opportunities for all employees to earn quarterly bonuses relative to the success of business goals met.
Our ingredients for our products are sourced locally or strictly through Fair Trade certified distributors, ensuring the best possible conditions for the workers involved. Our employees will have the option to participate in company subsidized health benefits. Employees will be regularly trained as products and facilities are improved and updated. They will have opportunities to attend workshops and events that discuss the benefits of organic foods to further engage them with what the products we are creating. We will also provide team building events offsite, as well as encourage work/life balance. As we start with the best possible ingredients, we seek to provide a beverage that is delicious as well as provides health benefits to our customers. And finally, by reinvesting portions of our profits back into the community, we intend to help uplift the lives of those in the areas we distribute and produce our products.
Tea Temptations strives to make as minimal of an impact on the planet. By using recycled and biodegradable packaging, offering a bottle recycling incentive to customers, and using only organic ingredients, we strive to produce as little waste, and contribute as few toxins into the environment as possible. Our marketing vehicles are strictly digital and in-person sampling vents, reducing or eliminating printed marketing. In future years, our goal is to convert our facilities over to passive energy, mostly by taking advantage of solar panels which are most efficient with the long, sunny days of Southern California. Also, when our vans have reached their life span, we will invest in electric or hybrid vehicles. In California, tax credits are available for purchases of solar energy providers and electric cars.