To grow your bottom line, grow your Triple Bottom Line
The Triple Bottom Line (TBL) is a framework that originated in the business sector to highlight the interdependent aspects of performance and sustainability across three dimensions: social, financial and environmental. We refer to these as the three P’s of People, Prosperity and Planet.
Those companies and communities committing to the Triple Bottom Line (TBL or 3BL) will be the most successful and the most prosperous in the years ahead. Social entrepreneurs and corporations committing to social and environmental responsibility are discovering their decisions and actions are having a significant positive impact on their financial bottom line. It turns out doing the right thing for people and the planet is generating upwards of 100% return on investment over a 10-year period for some corporations.
In practice, this means that any decision should always seek to combine three considerations: is it financially, socially and environmentally responsible? This way, we continuously optimise our business performance and enhance our contribution to the societies we operate in.
People are the reason any business is successful; they are involved in investing, supplying, designing, producing, managing, leading, and purchasing. When you invest in the well being of people, they are happier, more productive, more cooperative, more vested, more loyal and more capable. Of course, this impacts the financial bottom line. And when a company is conscientious about the environment and the communities in which they operate, they generate additional loyalty, commitment and a sense of shared responsibility by all stakeholders.
If you’re not attending to the TBL, best case scenario you are leaving a lot of opportunity on the table; worse case scenario, you’ll eventually be out of business.