Importance Of Triple Bottom Line

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A declared goal of multiple corporations, non-profit organizations, and local/state/federal governments in the past ten to fifteen years has been sustainability. Although sustainability is a goal for many, measuring the degree to which a business is being sustainable or tracking sustainable growth can be challenging. A man by the name of John Elkington saw the need for a sustainable growth measurement system, and strove to measure sustainability by bringing to view a new outline to measure sustainable performance in corporate America. This outline, called the triple bottom line, went beyond the customary measures of shareholder value, profits, and return on investment to include social and environmental dimensions. By focusing on widespread…show more content…
It is crucial to a business that any efforts of those associated with it align with the business’s long-term goals and that they focus on continuing capacity development strategies. However, relationships with people extend beyond a business’s walls; all of the foremost stakeholder relationships need to be cultivated for long-term sustainable growth. When a business chooses to follow a triple bottom line model for strategic planning, all facets of its human resources, both internal and external, are impressively enriched. Countless businesses have found that when they do choose to follow a triple bottom line approach that there is a grander corporate status, and that the practices appeal to and help to retain the finest talent. They have also seen an alignment of the business’s goals with its visions, and their efficiency progresses positively. As well as an overall clarity in approach to supply chain relationships towards accomplishing shared goals for improved efficiency and sustainability. A commitment to help the business identify, align and implement internal and external social strategies that will benefit everyone involved with the organization over the long-term is one of the main goals of the triple bottom line…show more content…
141). A lack of resources, strategic planning, and vision can all hinder sustainable growth, but with a triple bottom line approach that includes people, profit, and the planet, success is bound to transpire. Although most businesses can find sustainability through such measures as stated above, it seems as though others, like the tourism industry is dealing with more of a
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