Firm survival does not reside solely with sound decision making with regard to shareholders’ short-term interests. Rather, for long-term success, firms should consider how their actions affect populations of people, the wider planet, and profit. Indeed, firm leaders should consider the triple bottom line (TBL or 3BL) of people, planet, and profit. At the core of TBL thinking is the idea of sustainability, not just environmental sustainability but business sustainability and, even more broadly, sustainable capitalism. TBL largely refers to, first, accounting measures that quantify social and environmental impacts of a firm in ways similar to how firms currently measure financial performance, and second, the strategic decision making with regard to meeting tangible environmental, social, and ethical targets.

Similarly to TBL ideology, versions of a “balanced ...

  • Loading...
locked icon

Sign in to access this content

Get a 30 day FREE TRIAL

  • Watch videos from a variety of sources bringing classroom topics to life
  • Read modern, diverse business cases
  • Explore hundreds of books and reference titles