Managerial economics: Triple-Bottom-Line Outcomes vs Profit Maximization
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I need help with the following question. Why do some business firms pursue a triple-bottom-line outcome while others focus only on profit maximization? Please, use a real company example to illustrate your points.
In 300 words or more, please, provide your response to the above discussion question. Comment on how customers can influence firms to pay more attention to the preservation of the natural environment.
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The following posting discusses triple-bottom-line outcomes and profit maximization.
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Triple bottom line goes beyond the traditional measures of profit to include environmental and social dimensions. By including interrelated dimensions of people and planet along with profit, triple bottom line reporting can be an important tool to support sustainability goals. It includes three dimensions of performance- financial, social and environmental. Firms which are using triple bottom line are those that have learned from anecdotal evidence that there is greater profitability. For example reducing waste from packaging can also reduce costs. Firms like 3M, General Electric, Unilever, Proctor and Gamble and Cascade Engineering have used triple bottom line ...
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