Corporate America is measured by a framework called the triple bottom line. Triple bottom line (TBL) was created by John Elkington in the 1990s. It is also commonly referred to as the three Ps (people, planet, and profits). The three key components of the triple bottom line are the social (people), environmental (planet), and financial (profits). The major concept is that a business can improve the planet and people’s lives while still making a profit (Kenton, 2022).
TBL has increasingly become the priority in many major companies. Whether their reasons is for competitiveness or for genuine concern about how business can have an effect on the planet and future sustainability. The social part focuses on the people. Is the company transparent? Do they connect with the people? How active a company is in its part in the carbon footprint is what is covered in the environmental part. And then there are profits, which is self-explanatory.
A company should consider the effects that they have on the planet. When the company considers the triple bottom line, they will find alternatives to producing, packing, and/or products that are eco-friendly their products and /or offer eco-friendly products. Companies that value the environment and take proactive measures to preserve it, allow tapping into new markets. Many consumers are willing to pay an extra “5 percent for a green product if it met the same performance standards as non-green alternative” (Soomo, 2021). Companies can improve their operating profits by up to 60 percent if they reduce their resource costs. It also adds a benefit to the employees by giving them a sense that they are contributing to the cause. In return, it will increase the employee’s productivity and possibly attract new prospects.
NationaliTeas already has a mission and vision that support a triple bottom line. We claim that our mission is to “Make the world more awake through rejuvenating and refreshing beverages and sustainable practices that uplift workers, communities, and souls.” and our vision is “to be the most respected tea manufacturer across at least three continents for our tea and our actions, which will be driven by a commitment ethical sourcing, minimal waste, and empowerment of our employees.” (Final Project Scenario 2021).
NationaliTeas’s vision is “To be the most respected tea manufacturer across at least three continents for our tea and our actions, which will be driven by a commitment ethical sourcing, minimal waste, and empowerment of our employees.” To keep current with our vision, it is imperative that we attain B Corp Certification. B Corp will hold NationaliTeas accountable to an ethical standard. Becoming certified will show consumers our commitment to them and the environment. The standards address criteria such as how much our employees are paid, where and how our materials are used, the transparency of the company to the public, and so forth. The consumers will have the ability to witness the companies’ efforts to make a difference in the world. Becoming certified will let us compete on a higher level. There will be opportunities to learn new procedures of sustainability, which will reduce costs and carbon footprints. This will increase the morale of our current employees and attract new employees that are earth conscious, or as some will say, “awake”. Our motto, “Keeping people and their taste buds awake (when they want to be awake)” is a play on the term “awake”. So, we do not need to change our motto.
Our goals already strive for a positive impact on the people, planet, and profit of the economy which is in line with the triple bottom line. We have come a long way but we constantly need to reduce our negative impacts on the environment. The TBL has various benefits including but not limited to increased brand awareness and value. Due to our vast technologies, there is a plethora of social media that will allow effective communication between the company and consumers. These platforms can also be used to introduce new or existing products. This begins to build a familiar bond between the two.
Upon the completion of our preassessment evaluation for the B Corp Certification. As we have made a great stride already there are a few areas that need improvement. Governance, workers, community, environment, and customers are the areas recognized as our weaknesses. Below are initiatives that are set forth to correct and strengthen these sectors.
First, a formal structure will be constructed to review social and environmental performance. Meetings will be conducted on a weekly basis until it is deemed that they can be reduced to monthly meetings. The board will focus on reviewing environmental and social performance. Transparency of the meetings, survey results, and progress will be made available to the public via our social media. The board will ensure that NationaliTeas is featured on each social media that is currently available. This will open the door to reaching new clients.
A standard operating plan will be written. The SOP will give detailed information on when and how to shut down unsafe practices and processes without repercussions (Joubert, 2021). It will be given to each employee, and it will be documented by a list of the print and signature of every employee. It will be a new practice to inform any incoming employee. There will need to be quarterly training to refresh their knowledge of the shutdown. An internal review of safety protocols on all company equipment will be completed and thorough training will be given and quarterly re-fresher classes will be provided. There will be an incremental increase in wages for all employees will be in place. A program will be developed for employees to learn new skills through education and job training for various positions. The program will assist with creating resumes, finding the correct pathway for your career, and hiring from within the company first before offering to external channels. We will take an internal survey amongst the employees to better our labor practices. We will investigate incorporating regular events to increase morale, bonding, and inclusion of NationaliTeas. Monthly employee appreciation will be conveyed through a free breakfast or lunch provided in the breakroom. Random production contests will be performed, and a worthy prize will be issued and recognized company-wide.
Employees’ conception of the company will be more positive.
Our vendor selection will become more selective. We will make a standby only partnering with vendors and suppliers that have higher standards closely resembling ours. Each partnership will have to agree to regular screenings and evaluations. We are researching new and more eco-friendly options to produce and package our products. To create a more inclusive environment within our company. To add on to the progression to become more earth conscience
“Project management is an essential skill to improving operations” (Soomo, 2021). We will hire temporary agents to help the company get things on track. They are professionals that specialize in change and will work closely with our newly formed board. The first taskings will be to search for vendors with standards resembling the standards of B Corp Certification or a vendor willing to raise their standards. Possible local vendors are of the topmost importance.
Reaching out to the community will develop a strong sense of pride within the community. Our employees are from this community, which makes us the “community”. Upon thorough research of vendors, the project managers will be responsible for reporting their findings to the Board of Directors. The board will then convene to decide on which vendors we will partner with soon. The guidelines that are parallel to the B Corp Certification will be established, communicated, and agreed upon individually. They will have to be willing to have not only regular checkups but also random surprise checks to verify compliance. If found not within compliance, said the vendor will be issued a reasonable deadline to correct the infraction or cease and desist all business contracts until brought back up to code. Once all initiatives are in place, tentatively 6 months to 1 year, we will begin to transition the workload to the board or a trained select group.
Initially, these initiatives will bring a huge financial expense, that will benefit us in the long-term gain. Just like most things in life, this will not be any different, we must focus on the big picture. NationaliTeas will be at the forefront of committing to being better. Gaining profits is a major reason for our business but we must be more resourceful and create a gentle touch to the world. Prices of our teas will be raised to counter a portion of the expenses that will be rendered. The CEO, project managers, and purchasing director consist of Internal stakeholders. The vendors are the external stakeholders.
Jubert, S. May 14, 2021. Northeastern University Graduate Programs. How to Identify the Right Project Management Strategy. https://www.northeastern.edu/graduate/blog/identifying-
Kenton, W. January 9, 2022. Investopedia. Triple Bottom Line (TBL).https://www.investopedia.com/terms/t/triple-bottom-line.asp
Slaper, T and Hall, T. Indiana Business Review. The Triple Bottom Line: What Is It and How Does It Work? https://www.ibrc.indiana.edu/ibr/2011/spring/article2.html
Soomo Learning. (2020). People, planet, and profit. https://www.webtexts.com
We’ll write everything from scratch
In this project, you will demonstrate your mastery of the following competencies:
Recommend operations management methods and techniques to increase value for customers
Evaluate how operations management generates value for an organization
Explain local, national, and global sustainability in relation to functional areas of business
You work as the chief supply chain officer at the large international corporation, NationaliTeas. NationaliTeas manufactures and sells tea worldwide. Its motto is “Keeping people and their taste buds awake (when they want to be awake).” Its mission is “Make the world more awake through rejuvenating and refreshing beverages and sustainable practices that uplift workers, communities, and souls.” Its vision is “to be the most respected tea manufacturer across at least three continents for our tea and our actions, which will be driven by a commitment ethical sourcing, minimal waste, and empowerment of our employees.”
You would like to establish an operational goal of having your corporation apply for a B Corp Certification within the next two years. You believe this would add value to the organization and help it to prioritize a stronger focus on sustainable operational practices. You have conducted a preassessment based on the recommendations for applying for B Corp Certification, and you’ve evaluated the corporation’s current strengths and areas for improvement.
Now you need to develop a proposal for the board of directors that explains why prioritizing the triple bottom line (TBL) through working toward B Corp Certification has organizational value. You must also propose three high-impact initiatives to help strengthen the corporation’s commitment to people, the planet, and profit based on your evaluations.
Part One: Justification of Benefits: Justify the value of working toward more intentionally incorporating the TBL framework into organizational decision-making, specifically how ethical business practices regarding people, planet, and profit can benefit society, the environment, and the company’s profit. Specifically, address the following:
Key Components: Explain the three key components of the TBL framework and how each component benefits businesses and society.
Organizational Value: Provide a justification regarding the value and benefits of using the TBL framework to inform corporate decision-making, and explain connections between the organizational mission and the organizational vision.
B Corporation Benefits: Briefly describe the organizational benefits of attaining B Corp Certification.
Part Two: Operational Recommendations: Read through the Preassessment Evaluation Summary (located in the Supporting Materials section) for each aspect of the TBL (people, profit, and planet). You will need to provide a detailed description of the initiatives that will create the needed improvement. You should note the organizational and societal value of the initiative along with the operational management techniques recommended to plan and complete each initiative. For each of your three initiatives, address the following:
Organizational Impacts: Describe the organizational benefits of each initiative, specifically noting the expected positive impact of completing each. Examples of positive impacts include better alignment to the organization’s mission, vision, and culture statements; increased amounts of funds or resources saved; and improvements to the organization’s brand.
Societal Impacts: Describe the societal benefits of each initiative, specifically noting the expected positive impact of completing each. Examples of positive impacts include increased community building and positive environmental impact.
Customer Impacts: Describe the consumer benefits of each selected initiative, specifically noting the expected positive impact of completing each. Examples of positive impacts include increased alignment with target markets, improved product access and availability, and improved customer satisfaction.
Business Risks: Explain the business risks associated with prioritizing, planning, and resourcing each initiative and how these risks will be considered and monitored.
Operational Management Techniques: Recommend an operational management strategy or technique (e.g., project management, lean manufacturing, or Six Sigma) that is appropriate to implement for each selected initiative, and explain why.
Defining Requirements and Scope: Define the requirements for the successful implantation of each selected initiative as well as the scope of each. Describe how changes to the requirements and scope would impact timelines, budget, and risk.
Roles and Responsibilities: Explain the key internal and external stakeholders who would be involved in planning and implementing each selected initiative, as well as why each identified stakeholder is needed to successfully implement the initiatives.
What to Submit
To complete this project, you must submit the following:
Submit your project using one of the two formats listed below. Please note that your submission should include both Part One and Part Two of your project. For either format, sources should be cited according to APA style.
Written Report: Submit a 1,500- to 1,700-word Word document. Use APA style.
I have chosen to do the Word document instead of the Slide Show.
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