GENERAL KNOWLEDGE

Detailed explanation-1: -What Is the Triple Bottom Line (TBL)? In economics, the triple bottom line (TBL) maintains that companies should commit to focusing as much on social and environmental concerns as they do on profits. TBL theory posits that instead of one bottom line, there should be three: profit, people, and the planet.

Detailed explanation-2: -The Triple Bottom Line Defined. The TBL is an accounting framework that incorporates three dimensions of performance: social, environmental and financial.

Detailed explanation-3: -What Is the Triple Bottom Line? The triple bottom line is a business concept that posits firms should commit to measuring their social and environmental impact-in addition to their financial performance-rather than solely focusing on generating profit, or the standard “bottom line.”

Detailed explanation-4: -The Triple Bottom Line also ensures that organizations focus their attention outward. This means looking at the sustainability of supply chains, as well as the impact of operations on the local communities that it operates within, and improving them to ensure that their are prosperous outcomes for all involved.

Detailed explanation-5: -Triple bottom line is important because it affects everyone. It does not just focus on business and corporate leaders, but also social communities and the business’s impact on the planet. This accounting framework provides: A more sustainable future that considers both social and environmental sustainability.