Triple Bottom Line
The "Triple Bottom Line" (TBL) is a framework that encourages businesses to focus on three key areas: people, planet, and profit. This approach emphasizes that companies should not only measure their financial success but also consider their social and environmental impacts. By balancing these three elements, businesses can contribute to sustainable development and create long-term value.
In practice, the TBL encourages organizations to adopt responsible practices that benefit society and the environment while still achieving economic growth. This holistic view helps companies to improve their reputation, attract customers, and foster loyalty, ultimately leading to a more sustainable future for all stakeholders involved.