From the course: Driving Sustainability at Your Organization
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Planet, people, profit
From the course: Driving Sustainability at Your Organization
Planet, people, profit
- You've probably heard of the phrase, "The bottom line." In addition to meaning the essential point in corporate American speak, the bottom line also refers to the line at the bottom of a financial report that shows net profit or loss. How about the triple bottom line? Have you heard of that? The triple bottom line or TBL expands the concept of business success to include environmental health and social wellbeing rather than solely focusing on profits. The TBL is a sustainability based accounting method that incorporates the three dimensions of business performance, environmental, social, and financial. It's also referred to as the three Ps or people, planet and profit. In this lesson I'm going to illustrate the links between the three Ps and how prioritizing profit over people and planet is a losing strategy. You can use this foundational knowledge to create a successful, sustainable business. First, for businesses to be competitive and profitable in the long term, business owners…
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