The measuring of social, financial, and environmental factors (or people, places, and planet) that recognizes business has a responsibility to positively influence a variety of stakeholders, including customers, employees, shareholders, community, and the natural environment is defined as the
A)Balanced Scorecard.
B)integrity management.
C)triple bottom line.
D)Six Sigma.
E)Global Reporting Initiative.

Question

Quizplus · Accepted Answer

The definition given describes the concept of the triple bottom line, which measures a company's success not only in terms of financial profit but also through its impact on social and environmental factors. The other options listed do not fully encompass this idea. The balanced scorecard is a strategic management tool that considers various aspects of a company's performance, including financial and non-financial measures, but it does not specifically address social and environmental factors. Integrity management is a broad concept referring to the ethical and responsible management practices of a company, but it does not necessarily entail measuring specific factors. Six Sigma is a methodology for improving business processes, and the Global Reporting Initiative provides guidelines for sustainability reporting, but neither is focused on measuring social, financial, and environmental factors as part of a company's overall responsibility to multiple stakeholders.

The Measuring of Social, Financial, and Environmental Factors (Or People