Sustainable business has become a buzz word that companies attach to their mission statement without necessarily considering the breadth of its meaning or practical application. What is the triple bottom line and how do businesses integrate this new viewpoint into their mission and daily operations?

Sustainability Defined
A standard definition of sustainability is “meeting the needs of the present without compromising the needs of future generations.” I want to share a more detailed meaning from University of Wyoming School of Business:

“Sustainable business practice entails developing strategic thinking that positively impacts a firm’s long-term economic sustainability in an increasingly volatile and resource constrained world; analyzing a firm’s environmental footprint; and understanding the firm’s long-term relationships with stakeholder communities. It also requires far more efficient use of company resources. It places innovation at the heart of attempts to move toward clean technology, and resource efficient, climate- and ecology-friendly products and services. It strives to balance the need to develop economically with the need to maintain social and environmental considerations.”

A sustainable business is one that is mindful of its people, the planet and profitability…
referred to as the triple bottom line. The days when performance results are only about being cash positive have been transplanted by a broader view of what is important...a bottom line where people (including employees, customers, community), the effect of operational practices on the environment and revenue generation are weighed with equal value. In this scenario companies do not seek profitability at the expense of people or the planet. Some call this going green but I think it is identifying and adopting best business practices.

Read more…

Aligning Corporate Social Responsibility, Networking and Fun

© Copyright 2000-2015 Pearl S. Buck International®

Write a Review with Great NonprofitsGuidestarPANO Standards for Excellence Seal   Pearl S. Buck International Best Nonprofit to Work For 2014