It to measure them. He argued that organizations, so

It really boils down to
this: that all life is interrelated. We are all caught in an inescapable
network of mutuality, tied into a single garment of destiny. Whatever affects
one destiny, affects all indirectly. —Dr. Martin Luther King, Jr. (1967)

 

JOURNAL
1 – Business, Society & Environment

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Crisis,
a word overly used in the business and economic contexts when markets crash and
economic downturn looms. However, when citing Environmental and Ecological
issues, the concerns are downplayed or ignored in both our daily lives and
everyday business. The World is faced with challenges in all three dimensions
of sustainable development—economic, social and environmental.

To confront the challenges on
sustainable development, we initially need to address issues impeding the
success to overcome hurdles. For that, we can swing to the term ‘Triple Bottom
Line’ which was presented by John Elkington. As the author of a British
consultancy called SustainAbility, he considered the relevance of intangible
elements that colossally affect society and attempted to measure them. He
argued that organizations, so as to paint the true picture of their performance
and results, should come up with three bottom lines. The first is the
traditional measure of corporate monetary earning – famously known as ‘the
bottom line’ of the Profit and Loss (P&L) account. The second bottom line
should outline an organisation’s ‘people account’ – a measure to portray the
extent of the social responsibility of an organisation. The third bottom line
portrays the organization’s ‘planet account’– a measure of how environmentally
mindful an organisation is. The triple bottom line (TBL) ought to therefore be
made of three Ps: Profit, People and Planet, with the point of measuring the
financial, social and environmental performance of an organisation over a given
timeframe.

PLANET

Scientists in Germany, for instance, recently reported that
flying insect populations in about 63 protected nature zones had declined by 75
percent in the course of recent decades, with no conspicuous reason in climate
or different conditions. In the event that, as biologists expect, this reflects
changes in the insect populations all the more comprehensively, at that point
an extensive part of the biosphere on which we depend could be collapsing
before our eyes. Although the cause isn’t certain, it seems prone to be a blend
of widespread use of pesticide and loss of wild regions. One biologist
translated the finding as proof we’re “on the way to environmental
Armageddon.” Arguably, this isn’t exaggeration, as around 80 percent of
wild plants rely upon insects for pollination, and 60 percent of birds depend
on the insects for food.  (Buchanan, 2017)

 

PEOPLE

More than 1 billion people are
still living in extreme poverty, and wage disparity inside and within nations
has been rising; in the meantime, unsustainable consumption and production
designs have brought about huge economic and social expenses and may endanger
life on the planet. Accomplishing sustainable improvement will require global
actions to deliver on the real desire towards further economic and social
progress, requiring development and employment, and in the meantime reinforcing
environmental protection. (publication, 2013)

At this moment, exactly 800
million men, ladies and kids are scraping by on under $1.25 a day. Imagine
that. Being gripped by the pain of an empty stomach. Billions of our fellow
people are in danger of dying from infections that we know how to prevent.

Numerous children are only one mosquito bite away from death. That is an
ethical shock! It is profound and shameful. It is truly a life and death
matter, an important issue, and now the world must act. We can’t desert this
people. (Press,
2015)

PROFIT

Prosperity is
understood as a successful, prospering or flourishing condition or just, a
state in which things are going great for us. These are the two fundamental
measurements for the form of capitalism on which most nations base their
economies today. “The idea of a non-growing
economy may be an anathema to an economist. But the idea of a continually
growing economy is an anathema to an ecologist.”  (Tim Jackson, 2009)

The triple bottom line has moved toward becoming usual
methodology for organizations large and small that need to accomplish more than
making the biggest conceivable profits. Rather, building ways to benefit the
general population in their community and the planet in total has turned into
the recognized path for organizations to become good citizens. This in the
1960s came to known as corporate social responsibility. The principles of
corporate social responsibility are also wide-ranging and can include the
overarching company mission down to encouraging employees to volunteer their
time,

 

However, in no way, shape or form, the considerations a corporate
socially responsible business needs to consider concerning the nature. In
present day, the environment, business should adjust and adjust their benefit
intention with commitments to the earth and society. People and Planet are top
priority in the Profit evaluation for business. Business needs to understand
that the benefits are achievable in conjunction with saving the planet and
ethically serving the People…

One such example of Corporate Social Responsibility has long
been Ben and Jerry’s Ice Cream and its sale to multinational company, Unilever.

The company declared the sale in 2000 to the
enormous Dutch organization for $326 million. Cohen and Greenfield tied
conditions to the deal to reduce the impact on the organization and Vermont
community where the organization’s main processing plant was. Both founding
partners remained with the organization to undertake responsibility for its
“social mission and brand integrity,” according to a Wall Street
Journal about the deal. Terms of the deal included prerequisites the
organization would keep on buying milk from Vermont dairy farmers at above
market costs and give 7. 5% Of its pre-tax benefits to charity and give $5
million to a private equity firm established by Cohen to profit low-wage
communities. (Shelly Branch, 2000)

To sum it up, it is obvious that in a crisis, the two potential outcomes
must be carefully sooner or later end up incompatible with both the upkeep
of the earth and the quality of life. By the year 2030, for instance, it is
anticipated that there will be 3 billion more people on Earth than today. The
task of feeding, clothing and sheltering them will be huge, couple that with
education, employment, security and at least a minimal well-being and
satisfaction. These facts of life that apply to everyone must not be
disregarded. In any case, neither should the capacity of humanity to discover
and create solutions be ignored or limited. (Abbasi,
2017)