Assessment Task No 3: Individual Reflection Task description: This task requires student to reflect on their insights of sustainable practices and responsible consumption after studying THT2114 this...

Assessment Task No 3: Individual Reflection
    
    Assessment Task No 3: Individual Reflection
    
    
    
    
    
Contents
i) Three pillars of sustainable development:    1
a) Environmental Pillar:    1
b) Social Pillar:    1
c) Economic Pillar:    1

ii) Triple bottom line theory:    1
a) Economic:    1
b) Environmental:    2
c) Social:    2
iii) Responsible and Sustainable Tourism:    2
a) Responsible Production:    2
b) Responsible Consumption:    3
i) Three pillars of sustainable development:
The three pillars of sustainable development are:
a) Environmental Pillar:
This has gained a lot of attention particularly in the recent times where each of the companies is aiming to reduce the carbon footprint in the environment. They are adopting practices like reduction on the plastic wastage, reduction in the usage of the water, recycling of the resources etc. This is done in order to keeping a balance between the harm they do to the environment and in return what they offer back to the environment. (Feenstra, 2009)
b) Social Pillar:
A business of any form should encourage each and every stakeholder associated with the business. It talks about the employees working in the company, the owners of the company and the community where in the business is functional. It works on the principle of giving back and taking back from the community, it is like you help the community to grow and the community would help you in order to sustain the business. The business should treat its employees very valuable and offer them benefits to manage their work life balance. The business should also focus on how the supply chain of the business is working; it should have no unethical means in order to operate.
c) Economic Pillar:
Many think that only aim of any business is to mint the maximum profit from the business but this does not hold true the real aim of the business is to provide the maximum value to the person who is doing the business and as well as to the aim who is at the receiver end. . In fact, profit at any cost is not at all what the economic pillar is about. Activities that fit under the economic pillar include compliance, proper governance and risk management.
ii) Triple bottom line theory:
The triple line theory for any country or company who deals with tourism and hospitality would comprise of the following three points:
a) Economic:
The overall flow of people...