Acquisition Cost The cost of the asset including the cost to ready the asset for its intended use.
In this case, "stakeholders" refers to anyone who is influenced, either directly or indirectly, by the actions of the firm. Examples of stakeholders include employees, customers, suppliers, local residents, government agencies, and creditors.
According to the stakeholder theorythe business entity should be used as a vehicle for coordinating stakeholder interests, instead of maximizing shareholder owner profit. A growing number of financial institutions incorporate a triple bottom line approach in their work.
It is at the core of the business of banks in the Global Alliance for Banking on Valuesfor example. The Detroit -based Avalon International Breads interprets the triple bottom line as consisting of "Earth", "Community", and "Employees".
Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed. April Learn how and when to remove this template message The triple bottom line consists of social equity, economic, and environmental factors.
The phrase, "people, planet, and profit" to describe the triple bottom line and the goal of sustainabilitywas coined by John Elkington in while at Sustain Ability,  and was later used as the title of the Anglo-Dutch oil company Shell's first sustainability report in As a result, one country in which the 3P concept took deep root was The Netherlands.
People, the social equity bottom line[ edit ] The people, social equity, or human capital bottom line pertains to fair and beneficial business practices toward labour and the community and region in which a corporation conducts its business. A TBL company conceives a reciprocal social structure in which the well-being of corporate, labour and other stakeholder interests are interdependent.
An enterprise dedicated to the triple bottom line seeks to provide benefit to many constituencies and not to exploit or endanger any group of them.
The "upstreaming" of a portion of profit from the marketing of finished goods back to the original producer of raw materials, for example, a farmer in fair trade agricultural practice, is a common feature.
In concrete terms, a TBL business would not use child labour and monitor all contracted companies for child labour exploitation, would pay fair salaries to its workers, would maintain a safe work environment and tolerable working hours, and would not otherwise exploit a community or its labour force.
A TBL business also typically seeks to "give back" by contributing to the strength and growth of its community with such things as health care and education.
Quantifying this bottom line is relatively new, problematic and often subjective. Planet, the environmental bottom line[ edit ] The planet, environmental bottom line, or natural capital bottom line refers to sustainable environmental practices.
A TBL company endeavors to benefit the natural order as much as possible or at the least do no harm and minimize environmental impact. A TBL endeavour reduces its ecological footprint by, among other things, carefully managing its consumption of energy and non-renewables and reducing manufacturing waste as well as rendering waste less toxic before disposing of it in a safe and legal manner.
Currently, the cost of disposing of non-degradable or toxic products is borne financially by governments and environmentally by the residents near the disposal site and elsewhere.FEES & PAYMENTS.
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