Performance analysis - Balanced Scorecard and Triple Bottom Line

Flashcards covering key concepts from the lecture on Performance analysis, focusing on the Triple Bottom Line model and its application to business scenarios.

What are the three core components of Elkington's Triple Bottom Line model?

People, Profit, and Planet.

According to Elkington's Triple Bottom Line, what areas should business strategy and performance be equally focused on?

People, Profit, and the Planet.

How might a steel manufacturer closing its Welsh factory due to yearly losses impact the 'People' aspect of the Triple Bottom Line?

It would negatively impact 2,000 workers' jobs and their associated supply chains.

How might a steel manufacturer closing its Welsh factory due to yearly losses impact the 'Profit' aspect of the Triple Bottom Line?

Closing the factory would stop the financial losses, benefiting the company's profit.

How might a steel manufacturer closing its Welsh factory due to yearly losses impact the 'Planet' aspect of the Triple Bottom Line?

It would be environmentally beneficial as it would stop emissions of CO2.

How might a booming UK car industry (output up 30%, profits up 40%) create a conflict with the 'Planet' aspect of the Triple Bottom Line?

Higher output leads to increased emissions and higher levels of mining.

How might a booming UK car industry (output up 30%, profits up 40%) benefit the 'Profit' aspect of the Triple Bottom Line?

High profit levels are beneficial for the UK economy and market.

How might a booming UK car industry (output up 30%, profits up 40%) benefit the 'People' aspect of the Triple Bottom Line?

It creates more job opportunities, especially for highly skilled workers in the industry.