TRIPLE BOTTOM APPROACH

Oct 30, 2021 | 0 comments

Oct 30, 2021 | Essays | 0 comments

*TRIPLE BOTTOM APPROACH*
Companies which are focused on the triple bottom approach are based on three major foundations:
*Environmental*: when it came to starting her company Jessica Alba was more concerned with the environmental aspects of the products that were being used by her children. Considering that there are millions of children making use of the same products, it follows that there are more effects from the baby products which we are yet to comprehend. Building on environmental conservation means that all aspects of production and even distribution of the products should be environmentally friendly.
*Social:* despite having a general idea, it is only through people that such ideas can be made popular. The triple bottom line requires that social equity be at the foundation of all strategies. Taking an example of Jessica Alba’s company, some of the earnings are sued to support and care for children from needy families ensuring that they too can access the friendly products.
*Financial:* all companies despite their need for the environmental friendliness and social equity are profit oriented. This means developing an ideal production technique for example producing the goods for themselves rather than purchasing products from international distributors thus lowering the costs of the goods, attracting the right market. According to Field (2017), financial success comes from creating an entirely unique niche in the entire company production and distribution process.

*Customers influence *
Customers can make demands that a company take more consideration of the environment. This can be done through boycotts of the products from companies until they make adjustments to the environment policy. In addition, customers can also make formal complaints to the companies demanding the provision of high quality, environmentally friendly products. Customers often use word of mouth to communicate and market products that are environmentally friendly.

*References * Field. A. (17th July 2017). Jessica Alba’s Triple Bottom Line Startup Raises $25 Million. *Forbes margarzine *