Introduction The Triple Bottom Line
This is said to be a process of work carried out as an essential supporting structure underlying three major parts which are Social, Environment and Finance. This techniques of showing insight can be adopted for evaluation of act of display of exaggerated behaviour or a process involving a great deal of unnecessary time, effort and function for better business value that will bring about clean growth.
In 1981, Freer Spreckley brought about three section in a way called (Social Audit), as a process of dealing with or controlling distinct design for mutual assistance in working towards a common goal. He argued that entrepreneurial economy activities should measure and give a spoken or written account of something that has been observed, heard or investigated on the financial performance, social wealth creation and environment responsibility. The essential feature of this approach is to make an insistent and peremptory request that the fact or condition of being with another or other states lies with person or people with an interest or concern in something, especially a business, rather than the owner of shares in a business or company.This implies that any one influenced in the business has value in Triple bottom line. To generalize this, Triple Bottom Line is an entity design which puts in consideration of the Finance (economic or human capital), Environment (people within the community) and Social all for betterment of clean growth.
The five capital
Capital is said to be a valuable resources of a particular kind eg wealth in form of money or other assets owned by a person or organization. In sustainable, when we talk about capital it comprises of five sections which are
Natural Capital : Which is the earth, together with all of its surrounding circumstances. eg physical structure, living things, substance of the earth and process.
Social Capital : This refers to any established official organization having an important role in a society to maintain and develop human capital in relationship with other. eg Family, Schools, Voluntary organization etc.
Human Capital : This emphasizes the nature of task or skills required for a task, motivation, peoples health etc.
Manufactured Capital : These are material goods and infrastructure which contributes to the production process but do not include in its output. eg Tool, Technology, Infrastructure etc.
Financial Capital : This is the possibility of aid or assistance measured in terms of money used to make purchase of products or provide service . eg Investment Banking, Bank notes etc.
From the above sections of capital listed above, you find out that we are facing a poor sustainability because we consume our stocks of capital more than we produce them. The five capital could be suitable for the analysis of this business performance in content to clean growth, because it gives an essential supporting structure to the business, there by making them understand those resources, ie The capitals, and implication of problems surrounding them if not handled properly and put into consideration in running a business.
The five capital in general is said to be, a framework with some qualification to acknowledge that the concept of capital, its usefulness, both some to be used and some to be preserved, are capable of generating benefit to the economy for better growth.
This refers to the stocks of assets and services provided by the nature that can be utilized by man. The framework of this approach It’s to set a connecting principle where by business can meet the expectations, needs or desire of their costs, service and flow, eco system and including risks are all moving within the natural cycle, instead of having mutually opposed or inconstant interest .
Cradle To Cradle
This is described as the interconnected and explicable economic, industrial and social framework that attempt to create systems that are not only preventing the wasteful use of a particular resources but intrinsic nature of waste free. This denoting synthetic method which mimic biochemical processes to the design of products and system models human industry on natures process viewing the matter forms as nutrients, calculating in healthy, safe metabolisms. It puts forward or consideration that industries must aim to keep safe and enhance the quality of the ecosystem and natures biological metabolism while also maintaining a safe, productive technical metabolism for the high quality use and move continuously of organic and technical nutrients. The model in its wide sense, is not only for industrial design and manufacturing, but equally applied to many parts of human civilization such as economics, Building, Environment and Social System.
The Circular Economy
The circular economy is an essential supporting structure for an economy that is well being and characterized by regenerating design. This approach tends to define growth, concentrating interest on positive society wide gain. It involves inevitable parts of design dissociating economic activity from the action of using up the finite resources and calculating waste out of system. In conclusion, the circular economy approach plans to build up the Natural, Economy and Capital by laying a solid foundation to the process or changing to renewable energy sources. This is being achieved by designing out waste and pollution, keeping products and materials in use and regenerating natural systems.
The Balance Scorecard
This is an accounting frame work that can be used to make financial results line of marks while keeping a continuous records development towards building the ability for growth. The tool tires to contributes extra features to the financial results and monitoring progress not to replace financial measures in business. This approach can bring about analysis deficiency in traditional management systems and being able to resolve the issue. Thus these issues can be resolved by Translating the vision, Communication and linking, Business Planning and The Feedback.
Proposed Project : Manufacturing Of Automobiles (Motor Vehicle)
Statement of the Problem
The study makes us understand that if proper and systematic implementations are not carried out during the production and recycling process of automobile, there would be a high rise in the waste, pollution and damage caused by automobile in years to come. Since automobiles makes use of combustion during its main working principle it accounts to high risk of pollution because it releases particulate matters and other smog’s forming emission (nitrogen oxides and carbon monoxides) and makes use of other electronic systems and components which contains substance like cadmium, silicon, mercury, lead etc, which can later turn into a dangerous toxic substances to water and air. These effects in case would result to the poor quality of air, increase respiratory ailments like asthma and bronchitis, increase the risk of life conditions like cancers and burden our health care system with substantial medical cost.
Potential Solution to the Problem