homework

In your replies to at least two peers, use the questions below to guide your discussion. Make sure to cite any evidence you use to support your ideas.

● Do you agree or disagree with your peer's initial post? Why or why not? ● What examples from the textbook or outside resources (such as news articles) support

or dispute your peer's stance, and how? ● Did your peer provide any insight or information that changed your opinion about the

TBL? If so, how?

Peer 1:

Jose Torres

Hello everyone!

My name is Jose i am going for my international businesses degree. I currently reside in northern Virginia but i am from Florida, West Palm to be exact. Would hopefully like to open my business on day and get the opportunity to expand to other countries. Its 2023 and have new goals in mind by the end of this year.

When it comes to businesses having the responsibility to track and manage the social, economic, and environmental impact of their actions. It should be thought of since the business will have to follow those policies in place to see if they can do what they are trying to do. They will have to follow the policies in place to be able to have a business open to the public. But the sole responsibility for it will have to by the government since they are the ones responsible into keeping businesses from doing what they want, having control but also are responsible for the climate, social and economics of businesses.

The value that TBL brings to businesses is the actual process in the businesses world. As to the impact that the businesses will have in the area, city, and country. It's a better understanding of the impact the business will have, on the businesses around to the employee and economic improvement. This could lead to the attraction of more businesses more opportunities for the city or country. More employment opportunities for people in the area, More jobs available and more population in the area as well. Its worth the potential drawbacks of incorporating it because its more aid to the country and the community when these businesses open up at new areas throughout the world. It's a better way to grow businesses and job opportunities. If TBL was not a common business practice it would lead to businesses doing whatever they wanted and not accounting for the social, economic and environmental would lead to a massive disaster to all of the three categories. Not practicing TBL could cause harm to nearby cities and areas. Such as electronic devices like apple, microsoft need to mine for the materials needed to build there devices.

References: https://environment.co/companies-facing-environmental-issues/

https://www.safetystratus.com/blog/top-4-environmental-concerns-for-business/#:~:text=Waste %20Production%20and%20Pollution,chemicals%2C%20plastics%2C%20etc.)

______________________________________________________________

Peer 2 :

Rhonda Sams

Good Afternoon Everyone!

My name is Rhonda, and I reside in South Texas; San Antonio to be specific! I am a Business Major; however, I currently work in the Engineering field in compliance and regulatory testing. I am almost 49 with two adult boys that are also in college to become teachers. This last couple of years in school has been the first for me in many years, and has been a challenging, but interesting adventure.

On to the topic at hand, The Triple Bottom Line. Interestingly enough I have heard the term before this class while talking with some of my senior leadership. Our company is looking to reduce its carbon footprint by 2025. Which in our case is highly attainable.

● Do you think that it is the responsibility of businesses to track and manage the social, economic, and environmental impacts of their actions? Why or why not?

Yes, I think that it is a business's responsibility to manage the social, economic, and environmental impacts of the business decisions that are made. It's about preservation and building a sustainable organization that can not only reduce its harmful impacts on the earth but help also in return inspire its employees and customers as well to do the same thing. Funny thing about leaders; If you do it right, the rest will follow.

● What value does using the TBL bring to a business, and is it worth the potential drawbacks of incorporating it?

The value that the TBL brings to a business could be very large in terms of the way customers/businesses are leaning towards working with others that are in the same frame of mind. This could be a measurement of social responsibility and a show of growth in the business. This also could attract more stakeholders, and investors and also improve employee retention because the business isn't just looking at the profit margins, they are looking at the bigger picture.

● What value do businesses using the TBL bring to society, and how might society be impacted if TBL were not a common business practice?

I think there are several things that a business using the TBL can bring to society, including attracting talent, new customers and improving productivity. Society as a whole wants to do the right thing, and so I think that businesses that don't invest into the concept of the TBL that the business would suffer over time. The world is changing and looking at ways to conserve, innovate, and adopting sustainable practices. If it were not common practice, I believe that businesses would see a higher turnover rate in employment, limited customer base, more destruction to the ozone, and other environmental issues.

Reference

07 advantages of the Triple Bottom Line. EconPosts. (2020, July 20). Retrieved January 3, 2023, from

https://www.econposts.com/business-management/07-advantages-of-the-triple-bottom-line/