GK
BUSINESS MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Where a business reports on social goals, environmental goals and financial goals
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Where a business reports financial performance and its link to environmental factors
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Where a business reports on social outcomes, environmental impacts and financial performance
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Where a business reports on social outcomes and focuses its reporting on CSR
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Detailed explanation-1: -The triple bottom line (TBL) is an accounting framework that includes social, environmental and financial results as bottom lines. Businesses, nonprofits and government entities use TBL to evaluate their financial gains, as well as their social and environmental impact.
Detailed explanation-2: -The TBL is an accounting framework that incorporates three dimensions of performance: social, environmental and financial. This differs from traditional reporting frameworks as it includes ecological (or environmental) and social measures that can be difficult to assign appropriate means of measurement.
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: -Environmental Sustainability The Triple Bottom Line approach to sustainability takes the view that the smaller impact your business has on the environment and the fewer natural resources you consume, the longer and more successful your business will be.
Detailed explanation-5: -The triple bottom line is defined as having three components: People, Planet, and Profit. These represent the societal, environmental, and financial impact of business decisions. Along each step of the business cycle is an opportunity to make everyone’s financial situation (i.e. profits) better than before.