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Discussion wk1.docx - 1. In reference to the articles,...

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1.In reference to the articles, discuss how firms incorporate the triple bottom line concept into traditional business concerns over profitability.Respond to at least two of your classmates’ posts.In reference to the articles by Anne Field and Ryan Scott, the triple bottom line, or 3BL, is a growing concept in the realm of business. As more people place value on natural, holistic products and methods the 3BL concept is integrating more and more into big business. According to Ryan Scott, “3BL is a holistic approach to business that sees people, the planet and profitability (three Ps) as equal pillars in a corporate mission.” Douglas explains how people act to best serve their own personal well being or psychic satisfaction, which is referred to as "utility." It is assumed that firms want to maximize their profits and that consumers want to maximize their utility (Douglas, 2012). No matter the approach, companies must maintain some form of profitability in order to stay afloat. The 3BL method, unlike more standard macroeconomic business approaches, takes into consideration the 3Ps in order to make business decisions.One key to success for companies such as the Honest Company is who they partner with as their supplier and how much they are committed to a true

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Term
Fall
Professor
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Tags
Mathew, Freeway, Arterial road

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