Individual essay on values Example | Topics and Well Written Essays - 1750 words

Individual on values - Essay Example nt of an organisation has been given fiduciary responsibility on the economic resources of the society that comprise of both human and natural resources. It is important for every organisation to consider the social, economic and environmental systems in which it is operating; the corporations that develop a long-term vision for their business along with their responsibilities towards the society are able to sustain their development in economy (Albareda, 2008; Crane et al., 2008). Considering the environment in which the organisation is operating is important so that all organisation functions are running in the right perspective and in an ethical manner. When the organisations accept their right of controlling economic resources of the society, the management agrees to take the duty of being accountable about using the assets. This level of accountability needs to be conducted on fair grounds and in a sincere manner by the organisation. Even if the organisation faces losses, it should realise that it needs to be accountable for the situation rather than indulging in false excuses. As the individuals in the management department are looking for a model that can help them in fulfilling their societal responsibilities, the ‘Triple Bottom Line’ (TBL) concept was presented (Park & Stoel, 2005). The introduction of this concept acted as a vehicle for proper reporting about the articulation of the corporation’s environmental, economic and social performance (Ketola, 2009). Performances related to the environment and social concerns can be monitored with the help of the TBL concept. TBL has grown in popularity as it assists an organisation in determining the extent to which it is successfully meeting its responsibilities towards the community. The concept of TBL has given a direction to the management of organisations in developing the goals and objectives of the organisation according to the business environment. By following the guidelines specified in TBL,