What aspect of the triple bottom line focuses on social responsibility?

CIPS Managing Ethical Procurement and Supply Test is designed to enhance your understanding of ethical practices in procurement. Study with comprehensive questions and explanations. Prepare effectively for your exam!

The correct answer is linked to the concept of the triple bottom line, which encompasses three elements: profit, people, and planet. In this framework, the focus on social responsibility is specifically represented by "people."

This aspect emphasizes the importance of social equity, community engagement, labor rights, and overall welfare of individuals affected by business practices. It brings attention to how organizations are accountable for their impact on stakeholders, employees, and the wider community. The social dimension encourages businesses to conduct their operations in a way that contributes positively to society, ensuring that they act ethically and responsibly in their pursuit of profits.

In contrast, profit pertains primarily to the economic success of a business, while planet refers to environmental stewardship and sustainability efforts. Efficiency, while important in operational contexts, does not directly address social responsibility. The emphasis on "people" captures the essence of how organizations interact with and impact society, making it the clear focus for social responsibility within the triple bottom line framework.

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