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Whole Foods Market: The Triple Bottom Line

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Introduction Economic dogma states that the main objective of publicly traded firms is profit maximization. In modern times, most companies have been conducting business with that objective in mind. In the process of maximizing profits, irrefutable damage has been inflicted to the environment and also to human capital. Rimanoczy (2015) referring to the maximization of profits expressed, "Focusing on the bottom line as the ultimate priority has had an impact on rising unemployment, social crises, environmental challenges, health impacts, to name a few " (para. 4). Different scholars have proposed several methods to integrate the needs for profits with corporate social responsibility; in this context, John Elkington developed a new approach to measure corporate sustainability denominated the Triple Bottom Line. The new method expands the original corporate goal of focusing on profits by also including the assessment of the company 's environmental and social performance (Boswell, Davis, & Jackson, 2011). …show more content…

This paper discusses the aspects under which Whole Foods Market has managed to be one of the most successful publicly traded companies operating under the tenets of the triple bottom line.
Analysis
Whole Food Market has become the largest retailer of natural foods in the United States. The company 's fundamental values are the commitment to sustainable food production practices and social responsibility; meanwhile, they also generate significant profits to satisfy the requirements of the traditional bottom

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In the infamous prose “Attention Whole Foods Shoppers” Robert Paarlberg, a Harvard international affairs expert divulges on the ongoing warfare with the issue of sustainability. Paarlberg focuses on how the rise in global starvation increases in less developed nations, but it is often ignored by those in developed countries because of their fixation with the green revolution. He asserts many claims as to why Africa and Asia still have high food deprivation rates, which quite contrary to popular belief has nothing to do with overpopulation. This stems from lack of investment into agricultural infrastructure and investments. His criticism of whole foods shoppers seeks to bring awareness to the issue of world hunger and how the quest to eat organically

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Two college dropouts borrowed money from family and friends to open a small business called Saferway in Texas. This occurred in 1978 by John Mackey and Renee Lawson (Hardy). In 1980 the two joined forces with Craig Weller and Mark Skiles and created Whole Foods Market. Seven months later Texas got hit with the worst flood in history.

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Introduction The triple bottom line is an accounting framework that focus on 3 factors that include social equity, economic feasibility and environmental sensitivity. It was created by John Elkington in 1994 and has become a basis for a sustainable business (Miller, 2015). A sustainable business is one that creates profit, benefits the community and protects the environment These three parts are used to analyze an organizations performance. Environmental For environmental sensitivity a corporation considers their impact on the environment.

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1. Through extraordinary customer services, Whole Food Inc aims at nourishing and making the customer trips to their stores a delightful experience. The company serves its customers competently, efficiently and knowledgably. The customers are then satisfied and this will make the customers attract more customers into the business by advocating on the business.

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Mackey had an amazing key vision for Whole Foods since he wasn't narrowing his consideration on the cash related accomplishment of the association; he was really paying uncommon personality to the thriving of his potential purchaser base which should be at the focal point of every retailer out there. When you look at Whole Foods' truism, "Whole Foods, Whole People, Whole World," it makes a colossal window of chances for the inevitable destiny of the association. This maxim focuses on the three focus segments that can make any business productive, by focusing on the thing, purchasers, and advancement opportunities. What we like about this maxim is that it is direct yet packs such an incredible measure of meaning to the operations of the association. Whole Foods doesn't just use this idiom to make themselves look or sound excellent, they run their association considering the words and measures associated with each of these six words.

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In this highly competitive world, money is one of the most significant factors for people to survive because people use money to satisfy their desires such as clothes, food, and medicines. A company will gain profit from the amount of money that people used, but only profit cannot make company to be sustainable. Hence, every corporation should be concerned about the triple bottom lines which can lead company to be sustainable. The Triple Bottom line or TBL was created by the founder of British consultancy called sustainability, John Elkington since 1994 (economist, 2009). The triple bottom line is separately in three categories, including profit, planet, and people.

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Furthermore, Whole Foods social responsibility reflects their idea to alter the world. With Whole Foods targeting

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Whole Foods Market was founded in 1980 in Austin, Texas, as a local supermarket for natural and health foods and had grown since then to become one of the leading grocery stores in the natural and organic food industry in the United States. Whole Foods Market is the first Certified Organic Grocer in the United States and has positioned itself as the best-known leader of the natural and organic movement across the United States. Its mission is to promote the vitality and well-being of all individuals by supplying the highest quality, most wholesome foods available (Whole Foods Market History, 2018). The company has a distinctive mission statement that has aided it to stand out in the food industry and be able to create sustainable competitive

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