Discuss the impact of the current pandemic on the triple bottom line (people, planet, profit) reporting and analyse the shift of focus among the three factors. Discuss the possible changes in triple...

Running Head: MANAGEMENT                                1
MANAGEMENT                                        2
MANAGEMENT
Table of Contents
Executive Summary    3
Introduction    3
Main body    3
Conclusion    8
References    10
Executive Summary
The report holds discussion on use of Triple Bottom line in hospitality and tourism industry for their sustainability. There is no denial that it was one of the industry has faced worst of the challenges and shut downs. Whole business was completely closed due to lockdown and travel mobility restrictions. Through recent news and media articles, journals published by scholars the problems was studied in depth and how triple bottom line can prove to be futuristic measure to combat the adverse effects on industry are studied.
Introduction
Industry: The hospitality and tourism industry is the most worst affected due to pandemic. many people lost their jobs and many countries are on the verge of facing economic depression once again sue to this. Though the governments have relaxed social distancing norms and mobility restrictions but it will take years to revive the industry to the fullest.
Aim: The aim of the report is to understand how triple bottom line can be a saviour for hospitality and tourism industry. It also aims to explore future changes in the theory so that sustainability can be ensured in post pandemic world.
Scope: The scope of the study is to help hospitality and tourism sector to increase the pace of their growth through the triple bottom line analysis.
Main body
· Pandemic and its impact on triple bottom line /Impact on COVID-19 on the Hospitality and Tourism Industry
Due to pandemic hospitality and tourism industry has been deeply impacted because mobility was restricted, hotels, cinemas, theme parks, restaurants were shut down and entire travel ecosystem was disrupted (Tuomi, Tussyadiah & Stienmetz, 2021). Various countries saw millions of deaths and distracted people from exploring new places. The international boundaries were closed and local boundaries were sealed fearing the mobility of virus infected people. Slowly the life is coming back on track but the profound impact on hospitality and tourism will take years to reduce the impact and ensure high rate growth.
It has additionally unmistakably decreased the requirement for relaxation travel and quest for indulgent excursions. Notwithstanding the huge blow, the area is rescuing assets and ways of staying above water for the present, be it sturdier dealings with providers for shared food,
oad expense decrease practices, or least required period for convenience appointments while visiting the travel industry objections.
· Impact of COVID-19 on the Triple Bottom Line of the Hospitality and tourism industry
People: Many countries survive on tourism and due to pandemic they face all time low in unemployment resulting to poverty. The economic losses were distu
ing to the extent that it has started to give signals for recession in the near future. There is a need to handle the worsening situation at a aggressive rate.
Planet: Though the reduction in ca
on emissions has been observed but at the same time the plastic waste has increased tremendously. Despite decrease in pollution there is no respite in climate change because other methods through which global warming is supported are in practice.
Profit: The financial performance of a company or the profits generated by the organizations in the economy is an important consideration because they are important for sustainability and continued business operations. Pandemic has shut down businesses, which gave them a back foot in competition.
· Analysis of the shift of focus between 3Ps
As the hospitality and tourism industry is rising out of endurance mode, it necessities to attempt to adjust transient post-pandemic business prerequisites with longer-term environment gambles and in a perfect world objective the 'triple primary concern' approach - with equivalent spotlight on individuals, benefit and planet. Due to pandemic the shift of focus as hospitality and tourism based organizations are over two times as...