The triple bottom line strategy and an example of a company that has adopted it. Strategy: Strategy is the course of action taken by managers to achieve one or more goals of an organization. A strategy is a result of a detailed planning process.

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Answer 1

Question

Chapter 2, Problem 1DQ

Summary Introduction

To explain: The triple bottom line strategy and an example of a company that has adopted it.

Strategy:

Strategy is the course of action taken by managers to achieve one or more goals of an organization. A strategy is a result of a detailed planning process.

Expert Solution & Answer

Explanation of Solution

The triple bottom line strategy evaluates a firm in three aspects. They are:

Economic prosperity:

The firm has an obligation to compensate the shareholders who have provided the necessary capital. The firm must develop long-term value in the form of profit and ensure that the company also provides permanent economic benefits to society.

Social responsibility:

The firm must be following fair and beneficial practices towards the employees, environment and the community in which the business is run. The company apart from generating profits must also give back something to the community to help it grow and prosper.

Environmental stewardship:

The firm must ensure that its activities do not affect the environment as much as possible. Firms must evaluate the environmental costs from the raw material to the finished product stage and look to reduce the environmental footprint as much as possible.

Example:

Company DL is a global leader in the logistics industry. The company is known to practice the triple bottom line strategy. They are looking to reduce the carbon footprint and fuel usage as much as possible by delivering couriers in bicycles in some countries. They are looking to expand the process all over the world in a step-by-step manner.

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Answer 2

Question

Chapter 2, Problem 1DQ

Summary Introduction

To explain: The triple bottom line strategy and an example of a company that has adopted it.

Strategy:

Strategy is the course of action taken by managers to achieve one or more goals of an organization. A strategy is a result of a detailed planning process.

Expert Solution & Answer

Explanation of Solution

The triple bottom line strategy evaluates a firm in three aspects. They are:

Economic prosperity:

The firm has an obligation to compensate the shareholders who have provided the necessary capital. The firm must develop long-term value in the form of profit and ensure that the company also provides permanent economic benefits to society.

Social responsibility:

The firm must be following fair and beneficial practices towards the employees, environment and the community in which the business is run. The company apart from generating profits must also give back something to the community to help it grow and prosper.

Environmental stewardship:

The firm must ensure that its activities do not affect the environment as much as possible. Firms must evaluate the environmental costs from the raw material to the finished product stage and look to reduce the environmental footprint as much as possible.

Example:

Company DL is a global leader in the logistics industry. The company is known to practice the triple bottom line strategy. They are looking to reduce the carbon footprint and fuel usage as much as possible by delivering couriers in bicycles in some countries. They are looking to expand the process all over the world in a step-by-step manner.

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Answer 3

Question

Chapter 2, Problem 1DQ

Summary Introduction

To explain: The triple bottom line strategy and an example of a company that has adopted it.

Strategy:

Strategy is the course of action taken by managers to achieve one or more goals of an organization. A strategy is a result of a detailed planning process.

Expert Solution & Answer

Explanation of Solution

The triple bottom line strategy evaluates a firm in three aspects. They are:

Economic prosperity:

The firm has an obligation to compensate the shareholders who have provided the necessary capital. The firm must develop long-term value in the form of profit and ensure that the company also provides permanent economic benefits to society.

Social responsibility:

The firm must be following fair and beneficial practices towards the employees, environment and the community in which the business is run. The company apart from generating profits must also give back something to the community to help it grow and prosper.

Environmental stewardship:

The firm must ensure that its activities do not affect the environment as much as possible. Firms must evaluate the environmental costs from the raw material to the finished product stage and look to reduce the environmental footprint as much as possible.

Example:

Company DL is a global leader in the logistics industry. The company is known to practice the triple bottom line strategy. They are looking to reduce the carbon footprint and fuel usage as much as possible by delivering couriers in bicycles in some countries. They are looking to expand the process all over the world in a step-by-step manner.

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Answer 4

Question

Chapter 2, Problem 1DQ

Summary Introduction

To explain: The triple bottom line strategy and an example of a company that has adopted it.

Strategy:

Strategy is the course of action taken by managers to achieve one or more goals of an organization. A strategy is a result of a detailed planning process.

Expert Solution & Answer

Explanation of Solution

The triple bottom line strategy evaluates a firm in three aspects. They are:

Economic prosperity:

The firm has an obligation to compensate the shareholders who have provided the necessary capital. The firm must develop long-term value in the form of profit and ensure that the company also provides permanent economic benefits to society.

Social responsibility:

The firm must be following fair and beneficial practices towards the employees, environment and the community in which the business is run. The company apart from generating profits must also give back something to the community to help it grow and prosper.

Environmental stewardship:

The firm must ensure that its activities do not affect the environment as much as possible. Firms must evaluate the environmental costs from the raw material to the finished product stage and look to reduce the environmental footprint as much as possible.

Example:

Company DL is a global leader in the logistics industry. The company is known to practice the triple bottom line strategy. They are looking to reduce the carbon footprint and fuel usage as much as possible by delivering couriers in bicycles in some countries. They are looking to expand the process all over the world in a step-by-step manner.

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Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 5

Chapter 2, Problem 1DQ

Summary Introduction

To explain: The triple bottom line strategy and an example of a company that has adopted it.

Strategy:

Strategy is the course of action taken by managers to achieve one or more goals of an organization. A strategy is a result of a detailed planning process.

Expert Solution & Answer

Explanation of Solution

The triple bottom line strategy evaluates a firm in three aspects. They are:

Economic prosperity:

The firm has an obligation to compensate the shareholders who have provided the necessary capital. The firm must develop long-term value in the form of profit and ensure that the company also provides permanent economic benefits to society.

Social responsibility:

The firm must be following fair and beneficial practices towards the employees, environment and the community in which the business is run. The company apart from generating profits must also give back something to the community to help it grow and prosper.

Environmental stewardship:

The firm must ensure that its activities do not affect the environment as much as possible. Firms must evaluate the environmental costs from the raw material to the finished product stage and look to reduce the environmental footprint as much as possible.

Example:

Company DL is a global leader in the logistics industry. The company is known to practice the triple bottom line strategy. They are looking to reduce the carbon footprint and fuel usage as much as possible by delivering couriers in bicycles in some countries. They are looking to expand the process all over the world in a step-by-step manner.

Answer 6

Chapter 2, Problem 1DQ

Summary Introduction

To explain: The triple bottom line strategy and an example of a company that has adopted it.

Strategy:

Strategy is the course of action taken by managers to achieve one or more goals of an organization. A strategy is a result of a detailed planning process.

Expert Solution & Answer

Explanation of Solution

The triple bottom line strategy evaluates a firm in three aspects. They are:

Economic prosperity:

The firm has an obligation to compensate the shareholders who have provided the necessary capital. The firm must develop long-term value in the form of profit and ensure that the company also provides permanent economic benefits to society.

Social responsibility:

The firm must be following fair and beneficial practices towards the employees, environment and the community in which the business is run. The company apart from generating profits must also give back something to the community to help it grow and prosper.

Environmental stewardship:

The firm must ensure that its activities do not affect the environment as much as possible. Firms must evaluate the environmental costs from the raw material to the finished product stage and look to reduce the environmental footprint as much as possible.

Example:

Company DL is a global leader in the logistics industry. The company is known to practice the triple bottom line strategy. They are looking to reduce the carbon footprint and fuel usage as much as possible by delivering couriers in bicycles in some countries. They are looking to expand the process all over the world in a step-by-step manner.

Answer 7

Chapter 2, Problem 1DQ

Summary Introduction

To explain: The triple bottom line strategy and an example of a company that has adopted it.

Strategy:

Strategy is the course of action taken by managers to achieve one or more goals of an organization. A strategy is a result of a detailed planning process.

Answer 8

Expert Solution & Answer

Explanation of Solution

The triple bottom line strategy evaluates a firm in three aspects. They are:

Economic prosperity:

The firm has an obligation to compensate the shareholders who have provided the necessary capital. The firm must develop long-term value in the form of profit and ensure that the company also provides permanent economic benefits to society.

Social responsibility:

The firm must be following fair and beneficial practices towards the employees, environment and the community in which the business is run. The company apart from generating profits must also give back something to the community to help it grow and prosper.

Environmental stewardship:

The firm must ensure that its activities do not affect the environment as much as possible. Firms must evaluate the environmental costs from the raw material to the finished product stage and look to reduce the environmental footprint as much as possible.

Example:

Company DL is a global leader in the logistics industry. The company is known to practice the triple bottom line strategy. They are looking to reduce the carbon footprint and fuel usage as much as possible by delivering couriers in bicycles in some countries. They are looking to expand the process all over the world in a step-by-step manner.