Triple Bottom Line Industry Comparison
Hiring candidates from minority groups that have a tougher difficulty obtaining
employment than faux-minority applicants is a means by which both businesses might use the
model of TBL effectively. The opportunity to collaborate with groups who are concerned with
the surroundings, such as B Lab, to help manage each business's ecological effect, is a further
shared trait among the utility business and factories when using the TBL paradigm.
The ability of the industrial and service sectors to monitor and modify their impacts
differs significantly when applying the TBL framework to each sector. Because it employs its
employees to serve others, the service sector is likely to have a greater social influence. This is
because it has a larger social presence. The manufacturing sector makes use of its workforce to
produce goods or materials that are frequently sent to merchants in the service sector for sale.
Depending on what is being created, the manufacturing sector may find it more difficult to find
substitute materials that are more ecologically friendly and sustainable. In contrast, there are
many possibilities for green apparel and food supplies. The aluminum battery is a prime
illustration. Although technology hasn't gone far enough to find a replacement for lithium or a
means to make the process more sustainable, mining lithium is highly complex, dangerous, and
unsustainable. Lithium manufacturing businesses are nearly forced into a corner unless a better
strategy is found.
Developing a waste management strategy is one basic illustration of a method that may
be used in both the service and industrial industries. For instance, proprietors of eateries might
supply appropriate recyclables for staff to use when properly disposing of garbage. Given the
supplies being handled, recycling may be more difficult for businesses in industries that produce
goods, but they may still aid their staff by providing the right containers and educational
materials. These instances show how to conduct organization in an environmentally friendly
way.
A case study of an approach unique to the industrial sector that takes into account people
through the TBL framework is a business choosing to only buy items that are created in a safe
manner. For instance, Tony's Chocolonely, a confectionery firm, has made a commitment to
solely sourcing and manufacturing chocolate made with 100% slave-free cocoa. This illustration
highlights a company's dedication to assisting others and contributing to the fight against societal
problems including exploitation of children.
References
Collings, T. (2021, July 13). What is Triple Bottom Line, and which companies are using
Is it today? The Green MBA. Retrieved October 31, 2021, from
https://www.greenbusinessmba.com/blog/what-is-the-triple-bottom-line
Kenton, W. (2021, March 16). Triple Bottom Line (TBL). Investopedia. Retrieved October
31, 2021, from https://www.investopedia.com/terms/t/triple-bottom-line.asp#:
%7E:text=Triple%20Bottom%20 Line%3F-,What%20Is%20the%20 Triple
%20Bottom%20 Line%20(TBL)%3F,%2C%20 people%2C%20and%20the
%20planet.
Tony’s Chocolonely. (n.d.). our mission. Retrieved October 31, 2021, from
https://tonyschocolonely.com/us/en/our-mission
