Answered Essay: What is the relationship between social responsibility and the “triple bottom line”? How might firms

What is the relationship between social responsibility and the “triple bottom line”? How might firms benefit from a “triple bottom line approach”? What are the drawbacks to this management approach?

Expert Answer

Social responsibility means viewing the things ethically from the point of view of individual and organizational. This include:-

  • Economic Responsibility
  • Legal Responsibility
  • Ethical Responsibility

On the other hand Triple Bottom Line (TBL) focuses on the 3 basic things:-

  • Social sustainability
  • Environmental sustainability
  • Economic sustainability

They both works side by side in the real world. Corporate Social Responsibility exists to ensure that an organization takes the right measures to be responsible and contribute positively to the communities they operate in. Triple Bottom Line means managing all the things together (Social, Environmental and Economical) they both are important for the company because they both help the company to give some benefits to the society or the country in which they are working.

Benefits of Triple Bottom Line:-

  • Helps in making goodwill

Every company wants to make a goodwill in the market so that they can attract more and more customers and TBL helps the company to make this happen for the company. They are able to showcase what all work they are doing to give benefits to the society.

  • Development of the Economy

If the company is Following TBL, than that will show what all benefits company is giving to the economy from their side.

  • To work ethically

Every company should work ethically and to that TBL will help the company. This is motivate the staff who are working for the company.

There are disadvantages as well for TBL:-

  • Increase in cost of the company

If company is following the TBL than they have to make the working environment in such a way that every one get benefit from the same. Which will increase the cost for the company.

  • Increase in the maintenance cost

This is very common thing if a company is buying or installing new technology than their maintenance cost will also going to increase.

Buy Essay
Calculate your paper price
Pages (550 words)
Approximate price: -

Help Me Write My Essay - Reasons:

Best Online Essay Writing Service

We strive to give our customers the best online essay writing experience. We Make sure essays are submitted on time and all the instructions are followed.

Our Writers are Experienced and Professional

Our essay writing service is founded on professional writers who are on stand by to help you any time.

Free Revision Fo all Essays

Sometimes you may require our writers to add on a point to make your essay as customised as possible, we will give you unlimited times to do this. And we will do it for free.

Timely Essay(s)

We understand the frustrations that comes with late essays and our writers are extra careful to not violate this term. Our support team is always engauging our writers to help you have your essay ahead of time.

Customised Essays &100% Confidential

Our Online writing Service has zero torelance for plagiarised papers. We have plagiarism checking tool that generate plagiarism reports just to make sure you are satisfied.

24/7 Customer Support

Our agents are ready to help you around the clock. Please feel free to reach out and enquire about anything.

Try it now!

Calculate the price of your order

Total price:

How it works?

Follow these simple steps to get your paper done

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.


Let us write that nagging essay.


Submit Your Essay/Homework Instructions

By clicking on the "PLACE ORDER" button, tell us your requires. Be precise for an accurate customised essay. You may also upload any reading materials where applicable.


Pick A & Writer

Our ordering form will provide you with a list of writers and their feedbacks. At step 2, its time select a writer. Our online agents are on stand by to help you just in case.


Editing (OUR PART)

At this stage, our editor will go through your essay and make sure your writer did meet all the instructions.


Receive your Paper

After Editing, your paper will be sent to you via email.