ECON 330 Week 1: Triple Bottom Line, Corporate Social Responsibility, and Sustainability

Sample Answer for ECON 330 Week 1: Triple Bottom Line, Corporate Social Responsibility, and Sustainability Included

ECON 330 Week 1 Triple Bottom Line, Corporate Social Responsibility, and Sustainability

A Sample Answer For the Assignment: ECON 330 Week 1: Triple Bottom Line, Corporate Social Responsibility, and Sustainability

Title: ECON 330 Week 1: Triple Bottom Line, Corporate Social Responsibility, and Sustainability

The triple bottom line, corporate social responsibility, and sustainability are all related concepts that focus on the idea of companies being responsible not just to their shareholders, but also to the environment and to the communities in which they operate. The triple bottom line refers to the three primary ways in which a company can be responsible: financially, environmentally, and socially. The triple bottom line is a business model that takes into account not just profit, but also social and environmental factors. Corporate social responsibility is a narrower term that generally refers only to a company’s social responsibilities (Ahlering et al., 2021). In other words, corporate social responsibility is the responsibility of businesses to improve their social impact. Sustainability includes both environmental and social components, but also emphasizes the importance of maintaining ecological balance over time. In other words, sustainability refers to the ability of businesses to continue operations while minimizing their environmental impact. All three of these concepts are connected because ultimately they all aim to create a more sustainable future for businesses and for society as a whole.

An example of a socially responsible action by a corporation would be to reduce the environmental impact of their operations. This could mean reducing energy consumption, investing in renewable energy sources, or reducing the amount of waste produced. Reducing the environmental impact can often be costly for a company, but it can also improve sustainability and increase profits in the long run (Raza et al., 2020). For instance, implementing energy conservation measures can save a company money on its energy bills in the short term. And companies that invest in renewable energy sources can often receive government subsidies or tax breaks. Finally, reducing waste can lead to cost savings from reduced disposal and cleanup costs.

From this assignment, I learned that there is a cost to corporations when they do not behave responsibly and sustainably. When a

ECON 330 Week 1 Triple Bottom Line, Corporate Social Responsibility, and Sustainability

corporation does not take into account the environmental and social costs of their actions, it can lead to negative externalities (He & Harris, 2020). For example, if a company dumps toxic waste into the river, it can cause health problems for the local community. This is an externality because the company does not have to pay for the damage that it causes. In order for corporations to be socially responsible and sustainable, they need to factor in the costs of their actions (Shabbir & Wisdom, 2020). By taking these costs into account, corporations can make more informed business decisions that will benefit not only shareholders but also society as a whole.

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ECON 330 Week 1: Triple Bottom Line, Corporate Social Responsibility, and Sustainability References

Ahlering, M. A., Kazanski, C., Lendrum, P. E., Borrelli, P., Burnidge, W., Clark, L., … & Wilson, C. (2021). A Synthesis of Ranch-Level Sustainability Indicators for Land Managers and to Communicate Across the US Beef Supply Chain. Rangeland Ecology & Management, 79, 217-230. https://www.sciencedirect.com/science/article/pii/S1550742421001020

He, H., & Harris, L. (2020). The impact of Covid-19 pandemic on corporate social responsibility and marketing philosophy. Journal of business research, 116, 176-182. https://www.sciencedirect.com/science/article/pii/S0148296320303295

Raza, A., Rather, R. A., Iqbal, M. K., & Bhutta, U. S. (2020). An assessment of corporate social responsibility on customer company identification and loyalty in banking industry: a PLS-SEM analysis. Management Research Review, 43(11), 1337-1370. https://www.emerald.com/insight/content/doi/10.1108/MRR-08-2019-0341/full/html

Shabbir, M. S., & Wisdom, O. (2020). The relationship between corporate social responsibility, environmental investments and financial performance: evidence from manufacturing companies. Environmental Science and Pollution Research, 27(32), 39946-39957. https://link.springer.com/article/10.1007/s11356-020-10217-0

Please note that if you edit your initial response (original post), you will not get credit for the original post. The discussions are set up as “Must post first.”

Watch and read the following resources:

Address all of the following in your initial response to the topic:

What is the difference between the triple bottom line, corporate social responsibility, and sustainability? How are they connected?
Give an example of a socially responsible action by a corporation and explain how it may affect the profit and sustainability of the company.
Reflection: Include a paragraph in the initial response in your own words using microeconomics terminology, reflecting specifically on what you learned from the assignment and how you think you could apply what you learned in the workplace or everyday life.

Your answers should be written in your own words. Don’t use quotes from the articles.

You are expected to make your own contribution in a main topic as well as respond with value-added comments to at least two of your classmates as well as to your instructor.

As we begin this session, I would like to take this opportunity to clarify my expectations for this course:

Please note that GCU Online weeks run from Thursday (Day 1) through Wednesday (Day 7).

Course Room Etiquette:

It is my expectation that all learners will respect the thoughts and ideas presented in the discussions.
All postings should be presented in a respectful, professional manner. Remember – different points of view add richness and depth to the course!

Office Hours:

My office hours vary so feel free to shoot me an email at [email protected] or my office phone is 602.639.6517 and I will get back to you within one business day or as soon as possible.
Phone appointments can be scheduled as well. Send me an email and the best time to call you, along with your phone number to make an appointment.
I welcome all inquiries and questions as we spend this term together. My preference is that everyone utilizes the Questions to Instructor forum. In the event your question is of a personal nature, please feel free to post in the Individual Questions for Instructor forumI will respond to all posts or emails within 24 or sooner.

Late Policy and Grading Policy

Discussion questions:

I do not mark off for late DQ’s.
I would rather you take the time to read the materials and respond to the DQ’s in a scholarly way, demonstrating your understanding of the materials.
I will not accept any DQ submissions after day 7, 11:59 PM (AZ Time) of the week.
Individual written assignments – due by 11:59 PM AZ Time Zone on the due dates indicated for each class deliverable.

Assignments:

Assignments turned in after their specified due dates are subject to a late penalty of -10%, each day late, of the available credit. Please refer to the student academic handbook and GCU policy.
Any activity or assignment submitted after the due date will be subject to GCU’s late policy
Extenuating circumstances may justify exceptions, which are at my sole discretion. If an extenuating circumstance should arise, please contact me privately as soon as possible.
No assignments can be accepted for grading after midnight on the final day of class.
All assignments will be graded in accordance with the Assignment Grading Rubrics

Participation

Participation in each week’s Discussion Board forum accounts for a large percentage of your final grade in this course.
Please review the Course Syllabus for a comprehensive overview of course deliverables and the value associated with each.
It is my expectation that each of you will substantially contribute to the course discussion forums and respond to the posts of at least three other learners.
A substantive post should be at least 200 words. Responses such as “great posts” or “I agree” do notmeet the active engagement expectation.
Please feel free to draw on personal examples as you develop your responses to the Discussion Questions but you do need to demonstrate your understanding of the materials.
I do expect outside sources as well as class materials to formulate your post.
APA format is not necessary for DQ responses, but I do expect a proper citation for references.
Please use peer-related journals found through the GCU library and/or class materials to formulate your answers. Do not try to “Google” DQ’s as I am looking for class materials and examples from the weekly materials.
I will not accept responses that are from Wikipedia, Business com, or other popular business websites. You will not receive credit for generic web searches – this does not demonstrate graduate-level research.
Stay away from the use of personal pronouns when writing.As a graduate student, you are expected to write based on research and gathering of facts. Demonstrating your understanding of the materials is what you will be graded on. You will be marked down for lack of evidence to support your ideas.

Plagiarism

Plagiarism is the act of claiming credit for another’s work, accomplishments, or ideas without appropriate acknowledgment of the source of the information by including in-text citations and references.
This course requires the utilization of APA format for all course deliverables as noted in the course syllabus.
Whether this happens deliberately or inadvertently, whenever plagiarism has occurred, you have committed a Code of Conduct violation.
Please review your LopesWrite report prior to final submission.
Every act of plagiarism, no matter the severity, must be reported to the GCU administration (this includes your DQ’s, posts to your peers, and your papers).

Plagiarism includes:

Representing the ideas, expressions, or materials of another without due credit.
Paraphrasing or condensing ideas from another person’s work without proper citation and referencing.
Failing to document direct quotations without proper citation and referencing.
Depending upon the amount, severity, and frequency of the plagiarism that is committed, students may receive in-class penalties that range from coaching (for a minor omission), -20% grade penalties for resubmission, or zero credit for a specific assignment. University-level penalties may also occur, including suspension or even expulsion from the University.
If you are at all uncertain about what constitutes plagiarism, you should review the resources available in the Student Success Center. Also, please review the University’s policies about plagiarism which are covered in more detail in the GCU Catalog and the Student Handbook.
We will be utilizing the GCU APA Style Guide 7th edition located in the Student Success Center > The Writing Center for all course deliverables.

LopesWrite

All course assignments must be uploaded to the specific Module Assignment Drop Box, and also submitted to LopesWrite every week.
Please ensure that your assignment is uploaded to both locations under the Assignments DropBox. Detailed instructions for using LopesWrite are located in the Student Success Center.

Assignment Submissions

Please note that Microsoft Office is the software requirement at GCU.
I can open Word files or any file that is saved with a .rtf (Rich Text Format) extension. I am unable to open .wps files.
If you are using a “.wps” word processor, please save your files using the .rtf extension that is available from the drop-down box before uploading your files to the Assignment Drop Box.

Grade of Incomplete

The final grade of Incomplete is granted at the discretion of the instructor; however, students must meet certain specific criteria before this grade accommodation is even possible to consider.
The grade of Incomplete is reserved for times when students experience a serious extenuating circumstance or a crisis during the last week of class which prevents the completion of course requirements before the close of the grading period. Students also must pass the course at the time the request is made.
Please contact me personally if you are having difficulties in meeting course requirements or class deadlines during our time together. In addition, if you are experiencing personal challenges or difficulties, it is best to contact the Academic Counselor so that you can discuss the options that might be available to you, as well as each option’s academic and financial repercussions.

Grade Disputes

If you have any questions about a grade you have earned on an individual assignment or activity, please get in touch with mepersonally for further clarification.
While I have made every attempt to grade you fairly, on occasion a misunderstanding may occur, so please allow me the opportunity to learn your perspective if you believe this has occurred. Together, we should be able to resolve grading issues on individual assignments.
However, after we have discussed individual assignments’ point scores, if you still believe that the final grade you have earned at the end of the course is not commensurate with the quality of work you produced for this class, there is a formal Grade Grievance procedurewhich is outlined in the GCU Catalog and Student Handbook.