Amway Triple Bottom Line
Triple bottom line approach is an addition of the standards to measure the achievement of the firm. Conventionally, a business is considered to successful if it has generated massive profit, but the triple bottom line approach takes into interpretation the three criteria for evaluating the success of the firm i.e. economic, communal and environmental. Triple Bottom Line (TBL) Approach is generally defined by the 3Ps: People. Planet and Profit.
People – (The social bottom line)
Planet – (The environmental bottom line)
Profit – (The economic bottom line)
Hence TBL approach considers firm 's sustainability in social community, environment and business. Triple buttons line reporting makes business judgements and actions more clear and allows
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Amway’s trade plays a key role in the communities in which it operates. Anyway has a global policy for creating, distributing and advertising its products worldwide. It also has an approach for encouraging corporate social responsibility (CSR) in a global way. CSR refers to the character that a company plays in meeting its wider obligations as a citizen. Such commitments include supporting worthy causes and always acting in an ethical, honest way. Amway operates in many different markets worldwide and has a range of affiliates and ABOs. It therefore has to devise and communicate its plans for corporate social responsibility activities carefully to take account of different priorities and interests. From the outset, Amway established some clear objectives. These …show more content…
This helps to maintain Amway 's reputation with all its stakeholder
Amway contributes time, effort and money to support its business communities. It creates appropriate Amway products for ABOs to sell. It develops campaigns that support the business and social aims of the company. Getting the image right is vital in a business that relies on building relationships with individuals and the wider community. Amway regularly seeks to develop new products in line with market research aimed at finding out what customers want. Its employees volunteer at different charity organizations. It has shared $294 million with NGO’s since the company began.
The Planet
Amway produced its Global Cause Program in 2002 as the result of extensive research. Amway defines a global cause as ‘a social affecting many people around the world engaged in a struggle or a plight that warrants a charitable response. The Global Cause Program helps Amway to bring its vision to life, declares what the organization stands for, builds trust and respect in Amway brands and establishes corporate social responsibility as a
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