The tripple bottom line
Most businesses are primarily driven by their bottom line; That is, how much profit was realised and what return will the shareholders receive. Business is changing, and to create a sustainable business model I believe that the bottom line has changed most of all.
The triple bottom line replaces traditional fiscal profitability and embraces three positive outcomes that all businesses should be aiming for; People, Planet and Profit. When a business shifts focus to embrace the triple bottom line the integrity of the organisation shifts up a gear and it becomes valuable in its own right.
When companies focus on people they put their staff first, bring compassion to the workplace and invest in creating a positive culture, not to drive profitability, but because they genuinely care about the wellbeing of the people they impact.
When a business takes the planet into consideration they may need to make significant changes to processes. Patagonia made the move towards organic cotton in 1994 and founder Yvon Choinaird says “our mission statement says nothing about making a profit. In fact I consider our bottom line to be the amount of good that the business has accomplished over the year.”
To see how the tripple bottome line can work in your business, draw three overlapping circles for people, planet and profit and brainstorm how your business can create positive change in each; Engaging people, planet and community in new and positive ways!
Good luck, and if you need any help drop me a line.