Sustainability is more than just a “buzz word” for the global business community. International market leaders recognize that sustainable strategies, practices and tools can help organizations gain competitive advantage, increase market share and boost shareholder value.
We know that sustainable development should provide for current needs without sacrificing those of future generations, as well as sustainable activities should require a careful evaluation of how present decisions will affect future economies, societies and natural resources.
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Whether you are a chief executive officer, or a member of your board of directors, as well as if you are a C-level executive, or a senior or middle manager, you have to understand why you need to help your organization increase the Triple Bottom Line (sometimes referred to as “TBL” or “3BL” – People, Planet and Profit) – and not just the Economic Bottom Line- and improve brand reputation.
On the one hand, every manager knows the meaning of the accounting terminology “Bottom Line”, as it describes the net income or loss that an organization makes at the end of a financial or fiscal year, and that is utilized to calculate the earnings-per-share (EPS) of a business.
On the other hand, not every businessman recognizes what the definition of the “Triple Bottom Line” accounting method is about: i.e. analysis, management, measurement and communication of an organization’s environmental responsibility, its social awareness and economic profitability.
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