In this module, you have learned about the benefits, drawbacks, and overall value of using the...

Question

In this module, you have learned about the benefits, drawbacks, and overall value of using the triple bottom line (TBL) in business. In this assignment, you will take a closer look at how strategies for incorporating this framework are similar and different across the manufacturing industry and the service industry.

Prompt

Imagine you are a sustainability consultant, and you’ve been asked to create a simple handout that clarifies the similarities and differences between strategies used to incorporate the TBL into the manufacturing industry and the service industry. The handout will be provided to individuals at large and small group trainings.

Specifically, you must address the following rubric criteria:

Similarities: Explain the similarities that exist between incorporating the TBL framework into both the service industry and the manufacturing industry, and why.
Differences: Explain the differences that exist between incorporating the TBL framework into the service industry and the manufacturing industry, and why.
Example Strategies: Provide an example of a strategy that is appropriate to use across both the service and the manufacturing industries, and provide an example that is specific to either the service or the manufacturing industry when considering people, planet, or profit through the TBL framework. Include a brief explanation of what each example demonstrates.

Guidelines for Submission

Submit this assignment as a 350- to 500-word Word document. Use the course resource or external resources to support your comparisons. Sources should be cited according to APA style.

Dr. Saloni · Accepted Answer

4
TBL
Similarities
The triple bottom line is a budgeting approach or structure that encompasses some performance measures: ecological, financial, and social. Companies must contribute to fixating mostly on environmental as well as social issues as they function on revenues when it pertains to economic conditions. It is hypothesised that rather than single bottom line, three ought to be there: planet, profit, and individuals (Birkel & Müller, 2020).
The major similarity among integrating the TBL approach into the manufacturing and service sectors is that these sectors seek sustainability in individual corporate practices. The sustainability goal demonstrates the ways businesses will look further than revenues to include environmental and social concerns as well as assess the full cost of running a business. According to TBL theory, if a business's central emphasis is only on funding and does not investigate the ways it engages socially, that business has not been looking at the big context. They will find it difficult to account for the entire cost of running a business (Jayashree et al., 2021).
 
Differences
The following are the primary differences between the manufacturing and service industries: The manufacturing industries generate products, whilst the service industries deliver services. Manufacturing output have been tangible, whilst service industry output has always been intangible.

In this module, you have learned about the benefits, drawbacks, and overall value of using the triple bottom line (TBL) in business. In this assignment, you will take a closer look at how strategies...

Prompt

Guidelines for Submission

Solution

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