An Age Of Informational Starvation - 873 Words

We are living in an age of informational starvation. People are seeking for something that is attractive and glowing to see on their screens. Advertisers found that possibility as an opportunity to shine and they had created many different works that promote their products. However, it is possible to stop on one commercial, which is called Cristiano Ronaldo vs. Rafael Nadal, which is the commercial by Nike, to understand the way they appeal to the audience. First of all, like any other piece of art, the narrator creates the specific theme that addresses the human eye. That theme provokes a specific response in human mind, and their thinking provokes the profit if the advertiser was successful. However, the ethos of the current commercial is obvious – Nike Company is one of the leading industries that deliver sports equipment. Nike represents one of the main â€Å"players† in the sports equipment market. They create rules, and they create trends. Their credibility is out standing due to the fact that they are constantly doing different market examinations that concentrate on trend analysis. That is their profit that is why their researches show them evident details about marketing trends and they have enough money to adjust. Speaking of the logos of the article, it is important to mention that this commercial used the paradox as the rhetorical device so that it is complex to talk about the logical flow of arguments that they present. Their paradoxical choice figures, their gameShow MoreRelated`` 1493 : Uncovering The New World Columbus Created By Charles C. Mann966 Words   |  4 PagesIn the novel, 1493: Uncovering the New World Columbus Created, Charles C. Mann enlightens and captures how Columbus’s expeditions united the lands of Eurasia and America. It is a well-written and informational book that successfully displays much of the development and foundation of our present all from the European discovery of the new world. Charles C. Mannà ¢â‚¬â„¢s main objective with this book was to extend on the geographer, Alfred W Crosby’s explanation of â€Å"Ecological Imperialism.† 1493: UncoveringRead MoreThe Gilded Age And The Labor Movement1390 Words   |  6 PagesEvan Anton Professor Andrea Estepa Final Draft The Gilded Age and the Labor Movement The Gilded Age took place during the last thirty years of the nineteenth century where unionization of workers became more frequent. The reasoning behind the name of this era is due to the fact that everything seemed nice on the outside in America, but in actuality corruption and inequality could be found underneath the surface. 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Comparing terrorism

Parallels Between the Conflicts of J.D. Salinger and...

Holden’s Conflicts One of the greatest American Literature writers, J.D. Salinger, was familiar with a rough childhood by experience. He was able to parallel his experiences to the experiences of Holden Caulfield, the protagonist in The Catcher in Rye. In this novel, Holden experiences conflicts that most youth are not familiar with. The conflicts in Holden Caulfield’s life are caused by various forces and circumstances. One of the main conflict’s in the novel, The Catcher in the Rye, is the recurring theme of innocence. Holden attempts to resist maturing and wants to live his life as an innocent adolescent, by staying the same, like the exhibits in the Museum of Natural History. As he reflects on the corruption of innocence†¦show more content†¦In result of this behavior by his parents, he was never able to learn to trust an adult. He didn’t even find one teacher at the multiple schools he attended that he could trust. One teacher he had some re spect, but still no trust, for was Mr.Antolini, one of his old english teachers. Holden went to Mr. Antolini’s house, after visiting his sister, for a place to sleep since he could not stay at his house. While s at Mr. Antolini’s house, Holden fell asleep on the couch and he woke up to Mr. Antolini petting his hair from the ground. Not only did this incident freak Holden out, but it also reassured his negative view of adults. Yet another issue Holden endures throughout this novel is loneliness . There are many reasons that he is very lonely all throughout the novel. The biggest reason he doesnt talk to anybody is because he is afraid he is going to get hurt emotionally. For example he is scared to call Jane and is scared to let her in his heart because he doesnt want to loose another person he loves, like his deceased brother Allie. Another example of his loneliness is when he meets the prostitute in the hotel. Holden knows that he can have the comfort of another human for a little while, but he doesnt want to do anything with her because he knows she will just leave after they are done having sex. In a way he is looking for something that will last longer, like a relationship, but he is too scared of being hurt . Although, â€Å"loneliness is difficult to fess upShow MoreRelatedCatcher in the Rye4413 Words   |  18 PagesThe Catcher in the Rye â€Å"Is The Catcher in the Rye, as a work of literature still relevant for today’s youth?† Name: Sara Sigurdson Course: English A1 Supervisor: Mr. Peter Steadman Word count: 3851 Candidate number: 00136022 Table of Contents Content Page Number Abstract 3 Introduction 4 The Actual Catcher in the Rye 4 The Sexual Matter 5 The Caulfield Family 6 Narrator and Protagonist 8 Role Model 9 Mr. Antolini 10 Targeted Audience 10 Guidance 12 Read MoreA Victim Of Childhood Sexual Abuse1640 Words   |  7 Pageson effectively treating these victims. This broken system is depicted by Salinger through the protagonist of The Catcher in the Rye, Holden. Salinger used information he knew to give Holden the qualities of someone who has experience CSA, and uses the characters in Holden’s life to represent the many broken parts of government agencies established to help victims. In J.D. Salinger’s The Catcher in the Rye, protagonist Holden struggles with the mental health issues associated with prolonged childhoodRead MoreThe Catcher In The Rye by J. D. Salinger and Looking For Alaska by John Green1729 Words   |  7 Pages Throughout history, authors of young adult literature are oftentimes forced to incorporate the perils of young adulthood into their plots, characters, and conflicts. Growing up in America is an experience unlike no other. Today, American young adults are part of a large generation c alled the Millenials, who are considered the most educated in American history. They are more open minded, progressive, successful, and technological. However, it is not all sunshine and rainbows for these young AmericansRead MoreComparative Essay - Catcher in the Rye vs. Igby Goes Down1552 Words   |  7 PagesComparative Essay The Catcher In The Rye by J.D. Salinger and Igby Goes Down by Burr Steers are both displayed as rites of passage texts. The respective protagonists of these two texts are Igby Slocumb and Holden Caulfield. These two characters are both on a journey motif, a journey of self discovery in which they both attempt to find meaning in life and understand societies values and attitudes. The two protagonists demonstrate non-conformity and rebel against the apparent hypocrisy present inRead MoreJ.D. Salingers Catcher In The Rye and Burr Steers Igby Goes Down1493 Words   |  6 Pages Comparative Essay The Catcher In The Rye by J.D. Salinger and Igby Goes Down by Burr Steers are both displayed as rites of passage texts. The respective protagonists of these two texts are Igby Slocumb and Holden Caulfield. These two characters are both on a journey motif, a journey of self discovery in which they both attempt to find meaning in life and understand societies values and attitudes. The two protagonists demonstrate non-conformity and rebel against the apparent hypocrisy present inRead More Catcher in the Rye Essay: Holden’s Metamorphosis1954 Words   |  8 PagesMetamorphosis in The Catcher in the Rye      Ã‚  Ã‚   J. D. Salingers The Catcher in the Rye is the chronicle of a young mans metamorphosis from immaturity to unsure manhood. Holden Caulfield, the protagonist, is a sixteen-year old boy who leaves the prep school he has been expelled from to escape the frightening reality of dealing with his parents. However, during his visit to New York City he is faced with the harsh reality that he cannot continue to hold onto his childhood. Holden is an extremely complexRead MoreThe Great Gatsby By F. Scott Fitzgerald2365 Words   |  10 Pagesand deterioration of this dream through showing how the strive for noble goals and great achievements deteriorated into a quest for riches and how distant the dream is from reality. The American Dream has been in the spirit of America since its founding days. In the beginning, the dream simply was the quest for breaking free from class restrictions and acquiring prosperity and stability on a new land. The Founding Fathers declared that people inhe rently have the rights to life, liberty, and the pursuit

Event industry of Australia-Free-Samples for Students-Myassignment

Question: You are to write anacademic essaywhichcritically discussesthe following statement: The events industry is an effective and appropriate vehicle for the facilitation of regional development. Answer: Event industry of Australia has started to contribute significantly in the regional development of the country (Mills and Rosentraub 2013). Most of the literature has highlighted only the economic benefit of the event industry on regional development. However, it essay will highlight the effects of event industry on economic, social and cultural and environmental development of the region. Moreover, the essay will critically discuss the way in which event industry has become an effective and appropriate vehicle for facilitation of regional development. Event industry is the most rapidly growing industry in Australia. With the steady and rapid growth of the industry, it has wide contribution in the regional development of the country. The most popular sectors in Australian event industry are festivals, sports, music, tourism, mega, hall, business, culture and lot more events (Mair and Whitford 2013). Increasing popularity of the Australian events has made Australian even industry strong enough, which has become an effective and appropriate vehicle for the facilitation of regional development. Moreover, even industry has extreme significance on the contemporary society of the Australia. Event industry has significant contribution on regional development of Australia through contributing in economic development, social and cultural development and environmental and touristic development. The first and foremost contribution of event industry on regional development is its ability to foster economic growth of the region. According to Zaei and Zaei (2013), popular events highly attract the travelers and audience towards purchasing the event tickets. Therefore, it encourages the attendees in spending money to the food and beverage items, accommodation and other activities. Moreover, Mills, B.M. and Rosentraub (2013) stated that one specific event can foster economic development of other surrounding business like food and beverage sector, hotel sector, transportation sector and others. While considering the example Melbourne Cup in Melbourne, it can be found that Melbourne Cup sports event highly contributes in the economic development of Melbourne region. Moreover, the a ttendees spend almost AUD $200 on the local business development per day over 10 days period (Victoria Racing Club 2017). Mackellar and Nisbet (2017) pointed out that event industry contributes in the economic development of the region through creation of ample of job opportunities for the unemployed persons. Such increased employment ultimately increases the tax and revenue of the government from the tax collected from the employed persons. On the other hand, Veselovsky et al. (2015) opined that the event sectors have also significant contribution in local government through contribution of taxes. In this way, event industry contributes in the economic development of region. While considering the example of Big Day Out Music Event of Sydney, Melbourne, Adelaide and Gold Coast, it can be found that Big Day Out event has huge contribution in the creation of employments in these regions. The event was first debuted in the year 1992. The event is constantly creating ample job opportunities for the unemployed persons of these regions. Moreover, this music event has created almost 10% job opportunities for t he unemployed persons of such regions (Bigdayout.com 2017). As per Hansen (2013), event industry contributes in the development of tourism and economy through event tourism in the region. Moreover, such event tourism attracts huge international tourists in the region for enjoying the specific attraction of that particular region. In this way, the event industry has huge contribution in tourism development and economic development of the region through the revenues collected from the tourists coming to the tourism event. While considering the evidence from Australia Day in the most famous cities of Australia, it can be found that such event attracts huge numbers of tourists both from domestic as well as international countries. In this way, foreign currencies added to the local currency actually leads to economic growth of the regions. Event industry has huge impact on the social and cultural development of the region. According to Ziakas (2013), the collaborative effort of the community people towards arranging a special event leads to shared experience of the people among the community. Moreover, the collaboration of different people in the event programs increases the community participation of the people. In this way, event industry facilitates in enhancing the social networking within the community. Furthermore, Lew (2014) opined that event programs bring people together and direct them towards open and innovative ideas for community growth. In this way, such togetherness ultimately enhances the level of social cohesion and trust of the community people among each other. Such social bonding has huge impact on increased validation of community people through strong community unity. While considering the example of Falls Festival of Victoria, Tasmania and New South Wales gathers huge numbers of community people through the popularity of its Music and Art Events. Being debuted in the year 1993, this event has gained huge popularity among the people, which gathers huge people together at the event show. Thus, the collaborative gathering of the community people fortifies local relationship among the community people, which enhances the quality of life of the community people (Fallsfestival.com 2017). Mair and Whitford (2013) pointed out that event industry fosters revitalization of tradition among the region, which enhances the validation of cultural value of the region. Moreover, revitalization of tourism leads to cultural pride of the region to the tourists. On the other hand, Getz and Page (2016) opined that some special events like regional festivals attract international as well inter regional tourists. In this way, such events enhance the cultural collaboration and expansion of cultural perspectives for the region. While considering the example of Brisbane Festival in Brisbane region, it has been found that Brisbane Festival regional art festival had been inaugurated in the year 1996. Moreover, this international art festival gathers people from different regions of Australia as well as international countries (Australia.gov.au 2017). In this way, this particular event enhances the shared vision of region through intercultural communication. Event industry has also huge contribution in the environmental development of the regions. However, it is not an exact and direct vehicle of environmental development of any region. Mackellar and Nisbet (2017) stated that the scope and attractiveness of event programs are largely dependent on urban transformation and renewal for proper arrangement of the event shows. In this way, urban transformation and renewal lead to environmental sustainability of a particular region. On the other hand, Lew (2014) opined that event industry significantly contributes in increasing environmental awareness among the community people. In this way, event industry takes a step towards environmental sustainability. While considering the example of Melbourne Food and Wine Festival, it can be seen that Melbourne Food and Wine Festival uses mostly biodegradable cleaning products for enhancing the environmental sustainability of Melbourne (Melbourne Food and Wine Festival 2017). On the other hand, such even t sectors also adhere to Infrastructural legacy for fostering environmental sustainability. While concluding the study, it can be said that event industry of Australia has huge contribution on regional development through economic, social and environmental development of the regions. Event programs increase the local funding of the region through the ticket purchased by the event attendees. Moreover, a particular event can also have significant impact on the economic development of its surrounding business like hotels, transportations, restaurants and lot more. On the other hand, the collaboration effort of the community people towards arranging an event program actually increases the social cohesion of the community people. Apart from that, event industry also enhances the environmental awareness of people among the community. In this way, it can be said the events industry is an effective and appropriate vehicle for the facilitation of regional development. Reference List Australia.gov.au. 2017.Festivals in Australia | australia.gov.au. [online] Available at: https://www.australia.gov.au/about-australia/australian-story/festivals-in-australia [Accessed 23 Nov. 2017]. Bigdayout.com. 2017.Big Day Out. [online] Available at: https://www.bigdayout.com/ [Accessed 23 Nov. 2017]. Fallsfestival.com. 2017.Falls Festival 2017/18. [online] Available at: https://fallsfestival.com/ [Accessed 23 Nov. 2017]. Getz, D. and Page, S.J., 2016. Progress and prospects for event tourism research.Tourism Management,52, pp.593-631. Hansen, T., 2013. Bridging regional innovation: cross-border collaboration in the resund Region.Geografisk Tidsskrift-Danish Journal of Geography,113(1), pp.25-38. Lew, A.A., 2014. Scale, change and resilience in community tourism planning.Tourism Geographies,16(1), pp.14-22. Mackellar, J. and Nisbet, S., 2017. Sport events and integrated destination development.Current Issues in Tourism,20(13), pp.1320-1335. Mair, J. and Whitford, M., 2013. An exploration of events research: event topics, themes and emerging trends.International Journal of Event and Festival Management,4(1), pp.6-30. Melbourne Food and Wine Festival. 2017.Melbourne Food Wine Festival. [online] Available at: https://www.melbournefoodandwine.com.au/ [Accessed 23 Nov. 2017]. Mills, B.M. and Rosentraub, M.S., 2013. Hosting mega-events: A guide to the evaluation of development effects in integrated metropolitan regions.Tourism Management,34, pp.238-246. Veselovsky, M.Y., Gnezdova, J.V., Romanova, J.A., Kirova, I.V. and Idilov, I.I., 2015. The strategy of a region development under the conditions of new actual economic.Mediterranean Journal of Social Sciences,6(5), p.310. Victoria Racing Club. 2017.Melbourne Cup Carnival. [online] Available at: https://www.flemington.com.au/melbournecupcarnival [Accessed 23 Nov. 2017]. Zaei, M.E. and Zaei, M.E., 2013. The impacts of tourism industry on host community.European journal of tourism hospitality and research,1(2), pp.12-21. Ziakas, V., 2013. A multidimensional investigation of a regional event portfolio: Advancing theory and praxis.Event Management,17(1), pp.27-48.

Triple Bottom Line

The triple bottom line is a form of reporting that takes into account the social and environmental impact of a business in addition to its financial performance. For some companies it is a way of demonstrating their strategy for sustainable growth.Advertising We will write a custom report sample on Triple Bottom Line specifically for you for only $16.05 $11/page Learn More Introduction Define explain: Triple Bottom Line, Sustainability (sustainable growth), and Why sustainability is important Triple Bottom Line (TBL) is an accounting theory that accounts for three areas of performance, which are social, environmental, and financial aspects of performance. The TBL approach introduces new elements such as social and ecological or environmental measures, which are difficult to define with a specific form of measurement. Generally, the TBL elements are the 3Ps that consist of people, planet, and profits. In 1994, Elkington introduced the concept of sustaina bility (Elkington, 1994). He claimed that organisation ought to prepare three various bottom lines. The first bottom line was for profit and loss account. The second bottom line was for people. In this bottom line, an organisation had to account for its social responsibilities towards people throughout the operational period. The third bottom line, planet, looked at how firms were environmentally conscious about their operation. Thus, Elkington aimed to measure the social, environmental, and social performances of firms within a given period (Beechy and Conrod, 1998). In this context, only firms that had a complete account of the 3Ps were aware of full costs of running a business. However, environmentalists had already met challenges on how to measure and assign an appropriate framework for sustainability. Consequently, many studies have focused on sustainability and its importance. Moreover, they have used sustainability to define the TBL. According to Andrew Savitz, the TBL  "captures the essence of sustainability by measuring the impact of an organization’s activities on the world†¦ including both its profitability and shareholder values and its social, human and environmental capital† (Savitz, 2006). Other scholars have claimed that the TBL is like the balanced scorecard. Such arguments claim that both the TBL and the balance scorecard have the same fundamental principle i.e., measurements focusing on results, which a firm is likely to pay attention to in its strategic objectives. Thus, the aim of measuring social and environmental impacts of an organisation can ensure that we have socially and environmentally responsible firms.Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The TBL gained recognition when firms realised the value of corporate social responsibility (CSR), changes in the environment, and fair trade (Clarkson, 1995). In fact , Western nations had to introduce the 3Ps alongside cost-cutting measures. As a result, sustainability has been a major aim for many firms. However, the measure of the extent of sustainability has presented challenges to all organisations. Sustainability approach involves the use of a simple principle, i.e., people depend directly or indirectly from the natural environment. The importance of sustainability is to create a condition under which â€Å"humans and nature can exist in productive harmony that permits fulfilling the social, economic, and other requirements of present and future generations† (Galpin, 1997). Therefore, sustainability ensures that we have and will continue to have important resources that can sustain life and the environment. With regard to business, sustainable growth is a â€Å"realistically attainable growth that a company could maintain without running into problems† (Galpin, 1997). For instance, a business that has a rapid rate of growth ma y face challenges of funding the growth rate, whereas a business that has a slow rate of growth may stagnate and fail to meet its obligations. Thus, firms must have the best growth rate for sustainability. Sustainable rate of growth is most desirable for any organisation because a firm can operate at that rate with no changes to its financial position. Therefore, it is important to understand how much a firm can sustain its rate of growth before borrowing money for its operation. The model for determining a sustainable growth of a firm takes into consideration: The need to maintain a given investment structure with no new equity The need to maintain the ratio of share payment Enhance the rate of sales based on the fundamentals of the market This approach assumes that the firm’s assets at the start of a trading period are constant, and company only has reserved earnings as its source for raising capital. Returns and assets cannot surpass the reserved earnings and any other d ebts to the extent that the reserved earnings cannot support. Data from the sustained growth rates indicate that many firms are not willing to issue new equity. However, any company that decides to issue new equity does not want any financial strain on its growth rate because the return on equity has direct impacts on the sustainable growth rate of a firm.Advertising We will write a custom report sample on Triple Bottom Line specifically for you for only $16.05 $11/page Learn More Triple Bottom Line The TBL does not have a general method of measure. Thus, getting a single unit to measure the 3Ps is a challenge because we measure profits in terms of dollar, but there are specific units for measuring social or environmental aspects of the TLB concept. Some scholars have championed the need to monetise all aspects of TBL with regard to social welfare and damages to the environment. On the other hand, some have opposed the idea of attaching monetary values to lost land or endangered species. Besides, there are also challenges of determining the exact price of such environmental impacts. Others have proposed an index for gauging the TBL. This approach eliminates the challenge of unsuited units of measurement. However, there must be a universally acceptable accounting system for making comparisons among various cities, firms, projects, or any other standard for such measurements. There are various indices for measuring various components of the 3Ps. However, there still are challenges based on the weight of each P and their sub-components. Still, others believe that it is appropriate to eliminate both the dollar and index in measuring the TBL. This implies that every P should be on its own. However, when every P stands alone, there may be cases of proliferation of metric, which may affect the result of sustainability. These are some of the difficulties with the TBL. However, there are potential approaches that can provide effective metr ics for analysing the TBL (Blewitt, 2008). We can understand such metrics through the application of TBL aspect in an organisation. TBL Practices There are no universally accepted methods of measuring and calculating the 3Ps. At the same time, there are no standard metrics for measuring each aspect of the TBL. In this regard, the lack of standard measurement procedures provides an opportunity for entities to create their own framework that meets the unique needs of their organisations and various geographical locations. Business and other organisations can measure impacts and sustainability of the environment. For instance, they may determine the quantity of solid waste for the landfill, whereas other entities may measure their achievements in terms of earnings. In other words, the TBL has the ability to account for all variations in measuring the impacts on sustainability. In addition, the TBL can apply to both specific and broad aspects of a project in different locations or withi n a narrow scope or a location. For instance, the 3Ps may measure the impacts a venture on the environment at different points. Various aspects that relate to the entity, project, and location have significant influences on the type of TBL measure to use. However, these elements of measurement also depend on decisions of stakeholders, issues of concerns, and data needed. Entities that wish to use the TBL can get relevant information from relevant institutions.Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Economic Measures Economic measures for the TBL must account for the bottom line and issues that relate to money. For instance, the TBL measure may look at â€Å"income or expenditures, taxes, business climate factors, employment, and business diversity factors† (Freeman, 2004). Specifically, the analysis may involve individual’s income, job growth, employment trends in a sector, the number of companies in a given sector, and costs related to underemployment among others. Environmental Measures These measures must account for natural resources and show possible impacts on their viability. For instance, the variables may show the quality of air and water in a given location, energy consumption, amount of solid waste materials and toxic levels, land use and cover. It is also important to have different trends on environmental issues so that a firm can easily identify impacts that its policies or activities will have on the environment (Hacking and Guthrie, 2008). Specifi c areas of interests in environmental variables include the presence of solid wastes on the environment, hazardous waste management, consumption of fuel, electricity, concentration of chemicals, and changes in the use of land among others. Social Measures Social measures in the TBL reflect aspects related to social factors in a given region. The variables may include measurements on equity, gaining access to social amenities, education, social well-being, health standards, and social resources among others. Specifically, such variables may focus on the rate of unemployment, household income, the number of people with a given education qualification, life expectancy, rates of crime, and poverty level among others. Data that relate to all areas of the TBL are accessible at different stages. They can serve organisations, which have interests in the TBL. However, it is important to note that such data change over time due to changes in the economic, environment, and social statuses of a location or people. In some cases, it is necessary for an organisation to determine elements of TBL at the local level. We have many ways in which we can gain the support of stakeholders to take part in the formulation of the TBL framework. For instance, Peter Soderbaum proposes that we can develop â€Å"a decision matrix to incorporate public preferences into project planning and decision-making† (Soderbaum, 1982). Terre Satterfield, Paul Slovic, and Robin Gregory note that we can use â€Å"a narrative format to solicit shareholder participation and comprehensive project evaluation† (Satterfield, Slovic and Gregory, 2000). Finally, Sheppard and Meitner see the need to have â€Å"stakeholders rank and weigh components of a sustainability framework according to community priorities† (Sheppard and Meitner, 2005). Purpose of TBL and Why adopt the TBL The escalating cases of corporate malpractices have forced a number of firms to review their practices. For instanc e, Nike and Tesco had to review their policies of sourcing and ethical practices of their suppliers around the world. Regulation and policies of labour markets vary from country to country. Therefore, manufacturers and suppliers exploited such weak laws at the expense of social and environmental concerns. The TBL also enhanced the development of a fair trade movement, which influenced the production and trade in socially and environmentally acceptable goods. The fair trade movement gained momentum in the last few years (Willard, 2002). Now, the movement only focuses on agricultural produce like coffee, tea, and cotton among others. These commodities account for a small percentage of grocery sales. The major challenge with the TBL is that its three components cannot easily add up because we cannot measure people and planet in terms of cash. Such concerns have led firms to formulate ways of creating sustainable growth. However, achieving a sustainable growth has not been simple due to changes from political, competitors, environment, consumer trends, social, and economic challenges. Every issue has unique challenges to firms, which seek to create sustainable growth. For instance, social and consumer trends have shifted significantly in the last few decades. Modern consumers have become price-conscious due to rising costs of living, which has left them with a lesser amount of wealth to dispose. Such factors, together with demands for quality and cost reduction measures, have forced many firms to redefine their values in order to retain their clients and have competitive advantage over competitors. Besides, competitions in various industries have become stiff and barriers no longer exist to distinguish them. Challenges in sustained growths manifest themselves in different ways across different industries. For instance, many firms may face challenges of developing and launching unique products that can serve the needs of their customers. On the other hand, some fir ms may experience challenges in their attempts to capitalise on opportunities from globalisation. Still, other firms focus on expanding their opportunities and the global presence. Some firms may apply all these methods simultaneously in order to enhance their capabilities in various areas of operation. Most scholars contend that achieving sustainable growth is quite difficult without understanding the underlying factors like growth strategies and firm’s capability. Therefore, firms that fail to account for all the elements of the 3Ps may not achieve their sustainability objectives. In some cases, such firms may realise short-term gains but fail to achieve long-term objectives for sustainability growth. Thus, it is necessary for firms to have an excellent growth strategy alongside appropriate mechanisms of executing such strategies. Such approaches must account for the TBL concept. Conclusion John Elkington (1998) was the first scholar to capture elements of TBL in his variou s works, which included Cannibals with Forks: The Triple Bottom Line of 21st Century Business. The aim of TBL is to measure profits, as well as impacts of the firm’s activities on the planet and people within a local and global context. The concept of TBL emanates from the need for firms to have responsibility towards the use of the environment, economy, and society. These are the elements, which make up people, profit, and planet. In some cases, people use corporate social responsibility (CSR) reporting interchangeably with the TBL concept. Stakeholder theory is applicable in the TBL concept. Stakeholder theory relates to â€Å"organisational practices and business ethics that addresses morals and values in managing an organisation† (Freeman, 1984 and 2004). Freeman identified various stakeholders of an organisation and provided methods by which the management team could protect the interests of such stakeholders. He aimed to show important elements of an organisation . With regards to the traditional opinion about a company, stockholders and shareholders own the organisation. Therefore, the organisation has a fiduciary duty to protect interests of its owners by increasing the value that owners can get from it (Phillips, 2003). On the contrary, stakeholder theory posits that a firm must recognise parties other than shareholders (Donaldson and Preston, 1995). These other parties include political organisations, employees, unions, associations, communities, customers, and financiers among others. In some cases, competitors are also a part of the stakeholders of an organisation because they have the ability to influence practices and obligations of an organisation. Samantha Miles notes that the â€Å"nature of what is a stakeholder is highly contested because of many definitions existing in the academic literature about a stakeholder† (Miles, 2012; Friedman and Miles, 2006). The stakeholder theory consists of other theories such as resource b ased and market based theories. In addition, it also has socio-political elements of a firm. The concept of a firm in this theory applies to certain stakeholders of an organisation. The theory also examines how an organisation should treat its stakeholders. Therefore, identification and salience of stakeholders have become important elements for understanding the current context of stakeholder theory (Mitchell, Agle and Wood, 1997). Charles Blattberg has argued that stakeholder theory assumes that an organisation can balance or compromise interests of certain groups at the expense of others (Blattberg, 2004). Such arguments claim that the stakeholder theory relies on negotiation as the main way of dealing with conflicts among stakeholders. This leads to compromise of some stakeholders. In this regard, Blattberg has proposed the use of â€Å"conversation instead of dialogue in order to protect a ‘patriotic’ conception of the corporation† (Blattberg, 2004). Mansell notes that by using a â€Å"political ideology of a ‘social contract’ to the corporation, stakeholder theory undermines the principles on which a market economy is based† (Mansell, 2013). The gross domestic product (GDP) and gross national product (GNP) are the best indicators of growth in economies. The GDP and GNP have overall effects on economic growth of a country and lives of the people based on the Pareto-improving theory. Economists have not been able to embrace the concept of sustainability fully because they viewed it as an issue of resources rather than a matter of public concern (Ratner, 2004). However, this is not a good approach to sustainability because in most cases only management teams can gain great accessibility to resources, whereas majorities at the bottom continue to share meagre resources. Moreover, conventional economic theory is also incompatible with the sustainability. However, economic concepts are necessary as a prerequisite for unde rstanding sustainability because some economic concepts are critical for sustainability. In this regard, many economists apply the concept of willingness-to-pay (Roberts and Mahoney, 2004). The concept of willingness-to-pay allows us to â€Å"analyze the impacts of the environment and economic growth, to take into account the environmental and social impact, to treat nature as an economic externality, and to utilise the natural resources in a conservative manner in order for a development project to be considered sustainable† ( Rogers, Jalal and Boyd, 2008). Others studies have pointed out that what is necessary is how firms enhance their positive images in the community by reducing negative effects and promoting positive impacts on individuals or the community. The focus has been on social impact because of its closeness to the well-being of people and other organisms within a given environment. From the perspective of moral philosophy, we focus on business ethics and social responsibility within the context of the theory of the good. In other words, we have to understand how organisations add or create value to the world. The issue of how organisations add value to the world has been a pertinent matter for many decades. However, many philosophers relate such fundamental questions about a firm with the theory of right. In this theory, the focus is on whether firms respect or disregard rights of other stakeholders. In most cases, people have to deal with issues about rights and obligations and contend with actions that may have positive or negative impacts in the world. However, we have to note that the direct connection between utilitarian acts and maximisation of well-being is not clear (Sen, 1999). In effect, the most â€Å"socially responsible corporation is the one that has the greatest net social impact on society† (Sen, 1999). This is what advocates of CSR believe. The triple bottom line has gained recognition in the last few decades a fra mework of understanding performances of organisations. Elkington coined the framework in order to measure other impacts of organisations other than the profit. In this sense, he aimed to highlight different values that firms had to adopt during their activities. These included social, environmental, and economic aspects, i.e., profit, people, and planet (3Ps). In other words, the TBL accounting practice aims at going beyond the old system of reporting profits and disregarding effects of an organisation on people and the planet. Thus, it provides a framework for accounting for social and environmental performance of a firm. One major challenge is the issue of measuring the 3Ps of the TBL concept. For instance, we can attach a dollar as unit for measuring profits. On the other hand, it would be difficult to measure impacts of organisations on people and the environment by using a dollar. Besides, there are no universally accepted units for TBL. However, any attempts to measure TBL mus t account for economic, social, and environmental impacts of the organisation. TBL is important for regulating practices of firms, which may exploit the environment or engage in questionable activities with suppliers. Therefore, organisations have been able to take CSR seriously as a part of their sustainability agenda. Sustainability growth is a challenging task for many firms and requires adequate planning. There are many theories that relate to the concept of TBL. The stakeholder theory shows why a firm must consider all stakeholders in its decisions. Some of these theories take philosophical approaches in order to explain the issue of responsibility and social development in society. Reference List Beechy, T and Conrod, J 1998, Intermediate Accounting, McGraw-Hill Ryerson, Toronto. Blattberg, C 2004, From Pluralist to Patriotic Politics: Putting Practice First, Oxford University Press, New York. Blewitt, J 2008, Understanding Sustainable Development, Earthscan, London. 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Sheppard, S and Meitner, M 2005, ‘Using Multi-Criteria Analysis and Visualization for Sustainable Forest Management Planning with Stakeholder Groups’ , Forest Ecology and Management, vol. 207, pp. 171–187. Soderbaum, P 1982, ‘Positional Analysis and Public Decision Making’, Journal of Economic Issues, vol. 16, no. 2, pp. 391–400. Willard, B 2002, The Sustainability Advantage: Seven Business Case Benefits of a Triple Bottom Line, New Society Publishers, Gabriola, Canada. This report on Triple Bottom Line was written and submitted by user Brylee Espinoza to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.