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ISM Exam LEAD Topic 3 Question 14 Discussion
Topic #: 3
A company develops a scorecard to measure performance. The scorecard has the following criteria:
1. Profitability
2. Amount of taxes paid
3. Charitable contributions/activities
4. Average hours of employee training
5. Amount of waste sent to landfills
6. Safety incident rates
This scorecard is an example of which of the following?
Triple Bottom Line (TBL) Concept: TBL is an accounting framework that incorporates three dimensions of performance: social, environmental, and financial. This approach encourages businesses to consider the full impact of their activities on all stakeholders.
Criteria Alignment: The scorecard criteria cover profitability (financial), taxes paid (financial), charitable contributions (social), employee training (social), waste to landfills (environmental), and safety incidents (social/environmental). This holistic approach aligns with TBL.
Sustainability Focus: TBL emphasizes sustainability and responsible business practices, ensuring that the company's activities are beneficial to society and the environment, in addition to being economically viable.
Reference: The TBL framework is widely discussed in sustainability and corporate social responsibility literature, including works by John Elkington, who coined the term, and various business management resources like Harvard Business Review.
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