What is the Triple Bottom Line?
John Elkington developed the concept of the Triple Bottom Line of People, Planet, and Profit. So, what is the Triple Bottom Line?
Watching this video is worth 2 Management Courses CPD Points*.
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Corporate Social Responsibility (CSR)
This video is part of course module 6.2
Program 6: Managing within Organizations
Course 2: Corporate Social Responsibility
Other videos that describe Corporate Social Responsibility:
🎬 What is Corporate Social Responsibility (CSR)?
https://youtu.be/ONgWaJJk20M
🎬 How is CSR reflected in Legislation and Standards?
https://youtu.be/Pdhjc2t5WdM
🎬 CSR: Who are an Organization’s Stakeholders?
https://youtu.be/mRqsqezbgGk
🎬 What are an Organization’s Environmental Responsibilities under CSR?
https://youtu.be/EjkF3LBWPI0
🎬 What are an Organization’s Social Responsibilities under CSR?
https://youtu.be/QIVzrISHSHs
🎬 What are an Organization’s Ethical Responsibilities under CSR?
https://youtu.be/n2qJDIcaotI
LESSON NOTES
The term Triple Bottom Line (TBL) was coined by John Elkington in 1994. He later described it in his 1997 book, ‘Cannibals with Forks: The Triple Bottom Line Of 21st Century Business’. https://geni.us/Lyr1bRP
Elkington suggested that we should measure a company’s performance in a ‘profit account’, a ‘people account’, and a ‘planet account’.
This gives the three pillars of profit, people and planet, or economic, social, and environmental concerns.
The intersections of the three overlapping circles represent:
An equitable way of doing business – often described in terms of morality or business ethics.
The long-term viability of a business. Companies must be both frugal and efficient in their use of natural resources, and put back what they draw down.
The well-being of the people who live in the communities affected by an organization’s operations.
RECOMMENDED EXERCISE
1. How would you measure your organization’s performance in the ‘people account’? (2 MC CPD Points)
2. How would you measure your organization’s performance in the ‘planet account’? (2 MC CPD Points)
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RECOMMENDED READING
There are many books that discuss CSR. These are the ones I recommend:
📖 Corporate Social Responsibility: A Very Short Introduction
https://geni.us/oCWl1m
📖 Cannibals with Forks: The Triple Bottom Line Of 21st Century Business.
https://geni.us/Lyr1bRP
📖 Strategic Management: A Stakeholder Approach: R Freeman
https://geni.us/XzYlz
📖 The Stakeholder Strategy: Profiting from Collaborative Business Relationships
https://geni.us/bPI5
📖 Corporate Social Responsibility: Doing the Most Good for Your Company and Your Cause
https://geni.us/UCLsj
📖 Corporation Be Good! the Story of Corporate Social Responsibility
https://geni.us/a97O
⭕️ Links to our book recommendations are affiliated through Amazon and help support our free videos
Managers Need a Basic set of kit to do your job well. Here are my top recommendations: https://kit.co/MikeClayton/manager-s-work-kit (the links are affiliated)
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CHAPTER MARKERS
00:00 – What is the Triple Bottom Line?
00:13 – John Elkington – The Triple Bottom Line
01:14 – Why organizations use the Triple Bottom Line
02:04 – People, Planet, and Profit
03:21 – Intersections of People, Planet, and Profit
05:02 – Summing-up the Triple Bottom Line
#ManagementCourses #TripleBottomLine #CorporateSocialResponsibility
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