Sustainability and the Triple Bottom Line
My working definition of sustainability
My working definition of sustainability of business involves coordinating and managing financial, social and environmental concerns and demands all aimed at ensuring an ethical and responsible success. I believe in what I do because it is more than reducing my impact on the environment. It can help my business to be more productive and resilient thereby saving me on cost and giving me a competitive edge.
Similarities between my definition and the article
My working definition of sustainability and what I read in this article are close in meaning but the article beats it in detail. The definition of sustainability from the article resembles mine as both rotate around the three pillars of economic, social and environmental dimensions. The article adds a new muscle to my definition; triple bottom line.
The concept of triple bottom line
Triple bottom line is a concept that holistically emphasizes the profit, people, and the planet. The author’s perspective is clear and makes me modify my definition of sustainability a little bit. It is true that businesses that are able to compete effectively start by making informed decisions, attracting and retaining staff and developing a loyal customer base since they have an eye on the triple bottom line.
Understanding the measures of sustainability
The definition of sustainability from the article has also made me understand the social, economic and environmental measures that go into the index of triple bottom line. Sustainability is a path to chart for the future. This is a future that assembles a disciplined management of resources and strategic use of both human and natural resources. An effort to embrace the areas defined herein can result in meaningful outcomes for businesses in the form of new business opportunities, significant cost savings, and enhanced brand reputation. The use of the triple bottom line can help my business realize how it survives in the economy thereby assuring its survival in the future. The author has also caused me to modify my working definition of sustainability since I can measure my business along these parameters and view it both as an environmental and a social entity.
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