Triple bottom line company
What if innovation in the form of a triple bottom line was the primary responsibility of a business? Since innovation is the primary theme for our upcoming conference, lets put some context to the concept! At Sierra Business Council, we thrive on new ideas and methods for increasing community vitality through economic prosperity, environmental quality and social fairness. In other words, our commitment to introducing and practicing the triple bottom line approach is part of our DNA. The triple bottom line also referred to as 3BL, 3Ps or people, planet, profit is the foundation of the sustainable business movement.
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The Triple Bottom Line: What Is It and How Does It Work?
CSR and The Triple Bottom Line
It was the old time when business companies were only concerned about their profits and revenues. With the change in time, many innovations and modifications cropped up. We have begun caring about our environment and become aware of its present conditions. Since the emergence of this concept at the end of the 20th century, a multitude of theories, conceptualizations, studies, and business systems were introduced by management scientists. A popular phenomenon becomes so crucial in the business world, that without this, no company set its foot in the industry. With the numerous NGOs and not-for-profit organizations being phased in the market, environmental concerns are given substantial significance.
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25 Years Ago I Coined the Phrase “Triple Bottom Line.” Here’s Why It’s Time to Rethink It.
Today, we continue to outstrip our planetary boundaries with no sign of slowing down. How often are management concepts subjected to recalls by the people who invented them? It is hard to think of a single case. If an industrial product like a car fails the manufacturer pulls it back, tests it and, if necessary, re-equips it.
A triple bottom line organization takes steps to ensure that its operations benefit the company's employees as well as the community in which it conducts business. Human resources managers of TBL entities are concerned, not just with providing adequate compensation to its workers, but also with creating a safe and pleasant working environment and helping employees find value in their work. TBL companies actively seek positive ways to contribute to the community through activities, such as charitable contributions, education programs and equal opportunity employment. A TBL company avoids any activities that harm the environment and looks for ways to reduce any negative impact its operations may have on the ecosystem. It controls its energy consumption and takes steps to reduce its carbon emissions.
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