Importance of Sustainability

Table Of Content

1. Introduction________________________________ ____________________1

1. Sustainability___________________________ _____________________1
2. Triple bottom line_________________________ _____________ ______1

1. Importance Of Sustainability ________________ ______________________2

1. Benefits Of Triple Bottom Line   _________________________________2

1. Approaches To Triple Bottom Line  _________________________________3

1. Parkview Gardens_____________________________________________3
2. Toyota_                                                                                                           3
3. Apple Inc.          _______________________________________________4

1. Conclusion__________________________________________________ ___4
2. References_____________________________________________________ 5

1. Introduction

1.1 Sustainability

        Sustainability is very important to every organization now days. Sustainability is referred as when the world’s economic are growing, it simultaneously protects the environment, it also meant to sustain the humans’ needs and wants to have a better standard of living (Joshi, 2007). The earth is getting weaker and we are getting scarce of resources. With a scarce of resources, the price of the goods and services of the whole world will keep inflating and the consequences in devastating. Not only that, there are a lot of cases regarding human contribute to the harm of the earth. Therefore, sustainability plays an important role for every organization in this current world in order to allow us humans to live in a peace, and green environment (Mason, 2015).  

1.2 Triple bottom line

        Triple bottom line is a concept that adopts 3 factors which are Profit, People, and Planet and relate it to organizations in order to determine the organizations’ success or failure (Lai, 2012). A successful organization is able to perform well while considering the triple bottom line factors. According to Alhaddi (2015), the triple bottom line concept is inter-related to sustainability and was found by John Elkington. It is evolved from the concept of sustainability around 130 years ago. During that time, people were getting exposed to the word sustainability from a report named Brundtland in the year 1987 (Alhaddi, 2015).        

        In the triple bottom line, the economic or profit factor is focusing at the money flow. Factors like personal income, expenses, increase of job opportunities, taxes and many more. It measures the cash flow to determine whether an organization is successful (Slaper, 2011). A successful organization not only needs to cope with the cash flow of the company, but also need to sustain the country’s economy by producing goods and services.

        As for the social or people factor, it focuses on maintaining the well-being of a region of community as everyone will have the rights to be healthy and have a quality of life (Kingsley, 2013). For instance, for an organization to achieve the second bottom line, it requires to treat their employees fairly and also provide necessary compensations if needed.