profit alone? Perhaps it is for some companies, but the idea of the “triple bottom line” has been around for quite some time—and it refers not just to profits but also to people and planet. The triple bottom line has received renewed interest since the rise of the concept of corporate social responsibility (CSR) which refers to a company’s advocacy of and support for the values important to the “social, environmental and economic environment in which” the company operates (Castka, Bamber & Sharp, 2005, p. vii). When companies fail to consider the triple bottom line—the impact of their business operations on people and… Continue Reading...
protecting profits, people, and the planet. It is expressed through a company’s focus on the triple bottom line, also defined as the management of financial, social and environmental risks, duties and opportunities. Firms that engage in sustainable practices typically have some form of corporate social responsibility (CSR) program or policy in place that allows them to support and promote initiatives that are considered to be important either to the communities in which the firm operates or else good for the overall environment as a whole. Sustainable practices that businesses focus on can include anything from “going green,” reducing one’s environmental footprint, protecting water supplies, promoting… Continue Reading...