The triple bottom line concept is used in economics to describe the CSR practices and the general approaches to the stakeholder performed by the organizations.
According to this concept, organizations should consider the interests of both shareholders and stakeholders of the company. The latter are the employees, customers, communities, and the planet. The shareholders are also seen as the main stakeholders, and their interests are, therefore, considered from different perspectives.
To operate in the framework of the triple bottom line concept and meet the initial goals the companies should consider, how they will implement the corporate responsible practices in the fields of profit, people, and the planet.
Dolls&Walls Company is a business that sells toys for girls, like dolls and dollhouses. In terms of profit distribution, the business should participate in charitable initiatives, or donate money to the local communities. The profits should also be distributed equitably between the shareholders, and fair wages should be paid to employees.
Currently, Dolls&Walls performs unethical practices regarding the employees, making them work extra hours and without weekends. In light of the triple bottom line perspective, the company should ensure that employees maintain a healthy and sustainable work-life balance.
No less importantly, Dolls&Walls uses plastic for production, so, to operate responsibly, the company should utilize more natural materials that are biodegradable. Dolls&Walls can also participate in green initiatives, like planting trees and offering and developing volunteering programs. These can be days of cleaning the neighboring recreational areas or helping stray animals.