Evaluation
The story of Honest Tea is one of those truly inspiring corporate legends that create a unique air of trust and attractiveness for the customers. The firm owes a lot of its charm to Seth Goldman’s ability to maintain a balance in the social, economic, and environmental progress of the organization. By linking the company’s mission to the current health concerns (“the wealthiest does not mean the best lifestyle, diets, and interactions” (Woodward, 2013)), he designed the unique business framework that served as the platform for entrepreneurship to evolve rapidly by building a “mission-driven brand” (Woodward, 2013).
As a result, the societal and the environmental factors of the Triple Bottom Line (TBL) were incorporated into the foundation of the company’s philosophy, which implied that “a problem equals a solution” (Goldman, 2013). By stressing that the needs and preferences of the retailer do not necessarily have to coincide with the ones of the customer, Seth added the third (economic) dimension of the TBL to his project: “if you don’t like it doesn’t mean the customer won’t” (Goldman, 2013).
Specific Aspect
I find the social aspect to be the easiest to incorporate in the company’s framework. Branding the product to the target audience by incorporating specific images and ideas seems a comparatively easy task, even though it requires extensive market research. Meeting the environmental standards, however, clearly is the hardest challenge. Pollution and waste are integral and inevitable elements of the manufacturing process, and reducing them to zero is barely possible.
Comparison
The concept of TBL might be unpopular with other organizations since it requires a very elaborate allocation of resources. More importantly, TBL implies that the very concept of marketing should be reconsidered and that an innovative strategy should be created.
Reference List
Goldman, S. (2013). How entrepreneurs can change society – the story of Honest Tea: Seth Goldman at TEDxMidAtlantic. Web.
Woodward, W. (2013). Dr. Woody interviews Seth Goldman of Honest Tea. Web.