What is the triple bottom line?

Triple Bottlean (TBL or 3BL) is the sentence credited by John Elkington, the author and founder of the consulting company Sustainability. This term developed in 1994 and in 1998 became more known with his favorite book cannibals with Forks: Triple Second Line from the business of the 21st century . In principle, this term expresses a way to measure companies more than their ability to be profitable. Instead, it measures the performance of society assesses its social, environmental and economic success. It encourages society not only to try to make money, but also worry about what positions they have in the world and what kind of environmental administrators they will become.

Another way to look at the triple bottom line can be seen how society affects people, planet and profit. Obviously, it is necessary for society to earn money or not to maintain their practices. Yet these companies seek to achieve the sustainability that Elkington and other business experts discuss profits. Sometimes it isby the desire to profit at the expense of people in the world or the environment in general. In order to achieve the triple lower line, the company must try to fulfill all three things at the same time.

People affected by society are often called participating parties and, when fulfilling the triple lower line, the company is trying to please their participating party in addition to pleasant shareholders. Inteed parties are people who can be directly influenced by the actions of society or who could benefit or suffer from the actions of society in a less direct way. For example, a company that pollutes the environment has a high number of participating parties: anyone who lives in an environment. The direct parties include employees, shareholders and all the people with whom the company is doing. The triple bottom line CNOBY has been fulfilled if employees do not pay a reasonable wage for work or if the company works with other businesses that useTheir employees.

usually, when companies look at the "People" factor, they try to figure out how to be socially responsible in the complex world. Many companies are now advertising or issuing an annual "social responsibility" that are reporting to try to help the world. Others can advertise their “green” practices and ways to try to reduce the environmental debt. These practices even become the subject of advertising on television.

However, not all businesses that advertise environmental or social responsibility actually achieve TBL. They can make some improvements, but sometimes advertising is used to camouflage areas where societies clearly do not meet environmental, social or economic high standards. It is clear that companies may suffer economically if they do not try to reach three times and underlined. Since consumers are more aware of disgusting or harmful practices (such as the use of child labor to produce a productfor or normal use of workers), they often decide to use or invest in other companies. Elkington and others argued that this consumer knowledge was becoming an impact on the choice and that in the future it may be a TBL test of Lakm, which the company must pass to remain profitable.

One of the most famous books on this topic is written by Andrew W. Savitz: Triple Bott Order: How today's best societies achieve economic, social and environmental success and as you can . It is recommended for many business, for anyone who is trying to start business or improve the existing area. Many consumers have found this book fascinating reading. There are also a number of counseling companies that have appeared to advise companies about how they can best achieve TBL and remain competitive in the business PR 21st century.