The Triple Bottom Line Utilitarian Ethics
Corporate alignment to ethics is ensured by models, which are the Triple Bottom Line, the Sarbanes-Oxley Act, and three Cs of Leadership. The first framework, the Triple Bottom Line, incorporates people’s interests, the planet, and profits (Slaper & Hall, 2011). The Sarbanes-Oxley Act’s components are financial regulations for organization boards, managers, and public accounting firms (“Sarbanes Oxley Act,” 2002). In turn, three Cs of Leadership includes character, competence, and communication (Comfort, 2018). Their combination helps address ethical issues in a timely manner.
These models’ purposes differ, but they efficiently complement one another. Thus, the Triple Bottom Line aims to promote sustainable development by shifting from the emphasis on finances towards the environmental and stakeholders’ interests (Slaper & Hall, 2011). The Sarbanes-Oxley Act is intended to prevent the violation of laws related to business reports (“Sarbanes Oxley Act,” 2002). As for three Cs of Leadership, they are help managers to develop ethical behavioral models (Comfort, 2018). Alongside the specified objectives, these frameworks are also distinguished by their effectiveness.
This indicator is subjective in nature but correlates with ethical aspects of Bentham’s theoretical approach. Hence, the Triple Bottom Line is suitable for ensuring everyone’s happiness through attention to individuals (Archie & Archie, 2003). The Sarbanes-Oxley Act can be advantageous for the financial matters but fails to form good motives of business owners (Archie & Archie, 2003). In addition, three Cs of Leadership can address the gap in this area but seem inefficient from the perspective of sustainability. Meanwhile, they are applicable to various companies intending to comply with the ethics. For example, Coca Cola Company’s managers orientate on individual needs or clients and the planets while maintain transparency of operations and promoting organizational leadership.
Archie, L., & Archie, J. G. (2003). Introduction to ethical studies: An open source reader. No publisher.
Comfort, P. (2018). Does character matter? The three C’s of leadership. Business.com. Web.
Sarbanes Oxley Act, Publ. L. No. 107–204, 116 Stat. 745 (2002). Web.
Slaper, T. F., & Hall, T. J. (2011). The triple bottom line: What is it and how does it work? Indiana Business Review, 4-8. Web.