Is the Triple Bottom Line Really That Important?
I agree and think it is the responsibility of businesses to track and manage the social, economic, and environmental impacts of their actions. Notably, they should do this even if they do not embrace the triple bottom line (TBL). According to Agrawal & Singh (2019), everyone around the globe is entitled to ensure that the world is a better place for the current and future generations. Thus, failing to take responsibility for business actions would encourage people to act without caring about how others are affected, which is ethically unacceptable.
The application of TBL enhances a business’s ability to drift its attention from the traditional aspect of profits and consider a wider perspective that includes the planet, profit, and people. Additionally, the TBL helps businesses to engage in sustainable activities. It is worth noting that businesses may not gain benefits in the short term when engaging in sustainability programs. However, in the long term, there are different benefits that will accrue to them. Also, the application of TBL has got a share of drawbacks. For instance, companies have to forgo short-term profits when embracing the concept. Notably, the drawbacks are not that strong to water down the importance of TBL.
Businesses that use TBL bring different values to society. One value is the sustainability of the natural environment where society thrives. Essentially, sustainability ensures both society and businesses thrive for a long time. Adopting renewable energy is an example of how a business can bring value to society through TBL (Birkel & Müller, 2021). Another way a business can bring value to society is through its business strategy, policies, programs, and operations. For instance, a company can increase salaries for workers, provide career training and development, and provide health insurance. Without the implementation of TBL as a common practice by businesses, the environment would be negatively impacted, and there would be a high level of turnover across businesses.
References
Agrawal, S., & Singh, R. K. (2019). Analyzing disposition decisions for sustainable reverse logistics: Triple Bottom Line approach. Resources, Conservation and Recycling, 150, 104448.
Birkel, H., & Müller, J. M. (2021). Potentials of industry 4.0 for supply chain management within the triple bottom line of sustainability–A systematic literature review. Journal of Cleaner Production, 289, 125612.
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Question 
some believe that incorporating this framework into practice raises more questions than it resolves, especially around reporting, regulation, and a deviation from the financial bottom line of businesses.
In your initial post, address the following questions:
Is the Triple Bottom Line Really That Important.
• 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?
• What value does using the TBL bring to a business, and is it worth the potential drawbacks of incorporating it?
• What value do businesses using the TBL bring to society, and how might society be impacted if TBL were not a common business practice?