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Which one of the following statements is TRUE of sustainability?
a. Environmental sustainability applies only to goods-producing firms.
b. The three dimensions of sustainability are often referred to as the “triple bottom line.”
c. Resource management is a component of social sustainability.
d. Sustainability includes the idea of preserving resources for three years.
Expert Answer
The correct answer is option b.
Triple bottom line or TBL has three parts that are social, environmental and financial. This can be defined as the framework which is adopted by the organizations to evaluate their performance broadly which can create value for their business. So, organizations should focus on the customers and their needs, use different strategies to make profits and implement business activities that is aligned in accordance with corporate social responsibility. Sustainable business focus towards creating economic value, healthy ecosystems and strong communities. This type of business strives to meet the triple bottom-line.
