Pete Wargent April 9, Traditionally a business is measured in purely financial terms or by its economic performance — a successful business generates sufficient returns from its operations and investments, and one that does not… is not! Through considering the impact of your business on the people you interact with and on the local community and environment, there may be greater longer-term benefits for all parties — including increases in profit.
Sales dollars per kilowatt hours Greenhouse gas emissions Use of post-consumer and industrial recycled material Water consumption Amount of waste to landfill Nonprofits Many nonprofit organizations have adopted the TBL and some have partnered with private firms to address broad sustainability issues that affect mutual stakeholders.
Companies recognize that aligning with nonprofit organizations makes good business sense, particularly those nonprofits with goals of economic prosperity, social well-being and environmental protection.
Their approach includes the following: Food and Agriculture economic: Explore new economic models that support sustainable food and agriculture while raising public awareness of the value of organic and biodynamic farming.
Provide funding to organizations and projects devoted to sustaining, regenerating and preserving the earth's ecosystems, especially integrated, systems-based and culturally relevant approaches.
Education and the Arts social: Fund education and arts projects that are holistic and therapeutic. Government State, regional and local governments are increasingly adopting the TBL and analogous sustainability assessment frameworks as decision-making and performance-monitoring tools.
Policy-makers use these sustainability assessment frameworks to decide which actions they should or should not take to make society more sustainable. Policy-makers want to know the cause and effect relationship between actions—projects or policies—and whether the results move society toward or away from sustainability.
The State of Maryland, for example, uses a blended GPI-TBL framework to compare initiatives—for example, investing in clean energy—against the baseline of "doing nothing" or against other policy options. Regional Economic Development Initiatives The concept of the triple bottom line can be used regionally by communities to encourage economic development growth in a sustainable manner.
This requires an increased level of cooperation among businesses, nonprofit organizations, governments and citizens of the region. The following examples throughout the United States show various ways the TBL concept can be used to grow a region's economic base in a sustainable manner.
Cleveland, Ohio Inthe mayor of Cleveland convened the Sustainable Cleveland SC Summit to bring together hundreds of people interested in applying the principles of sustainability to the design of the local economy.
The city uses four key areas for measuring sustainability: Each key area has six goals. At this point, specific measurement indicators have not been fully developed; however, the city is looking to create a dashboard that could be combined to create an index for overall project success.
This dashboard would allow for quick year-to-year assessment in the SC progress. The region employs 14 major indicators related to the region's quality of life and environmental factors to determine progress made towards sustainability.
Rather than create an index, target goals were established for each indicator. More detailed information of the metrics used for each indicator can be found in their TBL report. Beyond the foundation of measuring sustainability on three fronts—people, planet and profits—the flexibility of the TBL allows organizations to apply the concept in a manner suitable to their specific needs.
There are challenges to putting the TBL into practice. These challenges include measuring each of the three categories, finding applicable data and calculating a project or policy's contribution to sustainability.
These challenges aside, the TBL framework allows organizations to evaluate the ramifications of their decisions from a truly long-run perspective.
Another example can be found in Katrina Brown et al.
Cobb and Clifford W. Cobb, For the Common Good: A Tool for Sustainable Development," www. An Assessment of Progress Indicators," Marchwww.
Integrated assessment is used as a general rubric for all sustainability assessment frameworks, including TBL.
The proliferation of frameworks and their acronyms often complicates the issues associated with implementing a TBL framework for evaluating economic development initiatives. Except for a couple of sustainability frameworks, the accessibility components and measures can be easily organized into the three TBL categories economic, social and environmental.
An Index for Sustainable Prosperity," Maryland: Smart, Green and Growing, www. EU Secretariat General, "Memo: Sustainable Cleveland"Action and Resources Guide: Also in this Issue….Strategic Plan: What Is It?
A Strategic Plan will be used to outline the purpose of Create Strategic Plan · Get Business Loans · Create Marketing Plan · 65,, Documents MadeTypes: Recommendation Letter, W-9, Non-Profit Bylaws, Fax Cover Letter.
as the bottom line. The successful completion of a business plan requires a variety of skills, including marketing, advertising, accounting, and human resources. The Triple Bottom Line method asks you to see beyond the traditional bottom line of business to the profits that your business makes socially, environmentally, and economically.
Measuring your business using the Triple Bottom Line is one of the best markers of how sustainable your business is, and how profitable it really is.
Sep 14, · People respects labor, the community and the region in which a corporation does business. Businesses that write the triple bottom line into their business plans seek to increase benefits for all.
The triple bottom line (TBL) thus consists of three Ps: profit, people and planet. It aims to measure the financial, social and environmental performance of the corporation over a . Social Business Plan Template Social enterprises pursue the triple bottom line — financial sustainability, social impact, and environmental stewardship.
Come learn how to develop a Social Business plan to start up your own business and have a social impact at the same time. Details, time, and location to come.