social footprint
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Sustainable development refers to the impact of economic activity on value creation in terms of economic, social and environmental factors. It is also referred to as the ‘triple bottom line’. These three factors can be linked to people (i.e. the social factor), social (i.e. the environmental factor) and capital (i.e. the economic factor).
a) Human
This refers to business practices involving employees, community and the location in which an organisation operates. A triple bottom line enterprise strives to benefit groups of people without causing harm to any group.
b) Social
This refers to measures taken to reduce the environmental footprint. A triple bottom line company strives to do least harm to the environment.
c) Capital
Capital plays an important role in the economic benefit enjoyed by the company and also the wider society as a result of the company’s activities. To be sustainable, profits made must be determined after identifying the organisation’s wider impact, including resource utilisation and wealth creation.
Regards,
kashif
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