Thursday, August 29, 2019

The Triple Bottom Line Assignment Example | Topics and Well Written Essays - 500 words

The Triple Bottom Line - Assignment Example This is however having a negative effect on performance at the corporate level because the company does very little to focus on environmental sustainability and social justice. This makes it difficult to have stakeholder goodwill because corporate ratings of the company are very low. The use of the TBL measurement system would also come with some short term consequences for the organization. The first of such short term consequences have to do with increase in the company’s budgetary expenditure. This is because to get the full potential of TBL measurement system, it is important to institutionalize it in the company and ensure that every needed resource that makes its implementation successful is apportioned (Slaper & Hall, 2011). Such rise in expenditure may come as a result of the need to set up a new TBL monitoring team or department. Another short term consequence would be possible organizational friction that would come as a result of changes in the organizational culture of the company. Such changes in organizational culture would have to come to ensure that aspects of environmental sustainability and social justice are incorporated into the activities of the company (Shrivastava & Berger, 2010). There are also long term consequences of using TBL measurement system. These long term consequences would however be seen as yields from the short term consequences. The first of such long term consequences would be improved corporate returns for the company. These corporate returns can be measured not only in terms of financial growth but also in terms of sustainability and social justice. Indeed companies that have such hopes for sustainability and social justice are always guaranteed to have lesser legal issues with its in-house and external stakeholders such as employees and suppliers. This is because by the use of the TBL measurement system, the

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