FAQs
The TBL dimensions are also commonly called the three Ps: people, planet and profits. We will refer to these as the 3Ps. Well before Elkington introduced the sustainability concept as "triple bottom line," environmentalists wrestled with measures of, and frameworks for, sustainability.
What are the 3 p's of the triple bottom line? ›
In economics, the triple bottom line (TBL) maintains that companies should commit to focusing as much on social and environmental concerns as they do on profits. TBL theory posits that instead of one bottom line, there should be three: profit, people, and the planet.
What is the triple bottom line answer? ›
The “triple bottom line” stands for the idea that firms' performance should not be assessed in merely economic terms, but along three dimensions: social, environmental, and economic (the “three Ps”, for People, Planet, and Profit). Since its inception 25 years ago, this idea has permeated into business practice.
What does the triple bottom line or 3p approach address? ›
Triple bottom line theory expands conventional business success metrics to include an organization's contributions to social well-being, environmental health, and a just economy. These bottom line categories are often referred to as the three “P's”: people, planet, and prosperity.
Is the triple bottom line really that important? ›
This bottom line measures businesses' impact on human capital. A company using the triple bottom line has a responsibility to not only shareholders but also employees, vendors, customers, the community where it does business and anyone else impacted by the organization, whether directly or indirectly.
What is the 3 P's? ›
If you want your business to succeed, you absolutely must focus on three key variables: people, process, and product. The three Ps, as they're often called, provide the highest return for your efforts because they act as the cornerstone for everything your business does.
What were the 3 P's? ›
The second objective of the Early nationalists was to influence the British government and the British public. To achieve this objective, they made use of three P's i.e. petitions, prayers and protests. They sent petition request and letters of protest to the British government to look into the problems of the Indians.
What is the triple bottom line summary? ›
The triple bottom line (TBL) is a sustainability framework that revolves around the three P's: people, planet and profit. By maximizing all three bottom lines, organizations are more likely to have a positive impact on the world while still improving financial performance.
What are the three parts of the triple bottom line? ›
The Triple Bottom Line Defined. The TBL is an accounting framework that incorporates three dimensions of performance: social, environmental and financial.
What is the meaning of the bottom line answer? ›
Britannica Dictionary definition of BOTTOM LINE. 1. the bottom line. a : the most important part of something : the most important thing to consider. The bottom line [=all that matters] is that the product just wasn't practical.
The Ps refer to People, Planet, and Profit, also often referred to as the triple bottom line.
Which best describes the triple bottom line? ›
The triple bottom line can be broken down into “three P's”: profit, people, and the planet.
What is an example of a triple bottom line strategy? ›
Some examples of the Triple Bottom Line in action include: Sportswear brand Nike has refocused its strategy to be more energy efficient, including investing in innovative new materials, and launching sustainable processes to make and remake materials for products.
What are the 3ps of triple bottom line? ›
The triple bottom line is a business concept that posits firms should commit to measuring their social and environmental impact—in addition to their financial performance—rather than solely focusing on generating profit, or the standard “bottom line.” It can be broken down into “three Ps”: profit, people, and the ...
How to improve your triple bottom line? ›
The three best ways to begin improving your business's triple bottom line are to improve your human capital management strategy, implement a sustainability management system, and be more socially responsible.
What is triple bottom line quizlet? ›
The triple bottom line. represents People, Planet, & Profit (the 3 Ps)—measures an organization's social, environmental, & financial performance.
What do the three P's stand for? ›
The three p's of first aid form the foundation of effective emergency response. By understanding the importance of preserving life, preventing deterioration, and promoting recovery, you can make a significant impact on the outcome of an emergency.
What is the 3 P's in marketing? ›
This, then, is the "3 P's." And there is only one logical order for the 3 P's and that is price, then place, then promotion. As a restatement of a brand's positioning strategy, a brand's core benefit proposition suggests what pricing strategy it should use.
What are the three Ps of the Triple P method? ›
The three Ps in 'Triple P' stand for 'Positive Parenting Program' which means your family life is going to be much more enjoyable. Triple P helps you: Raise happy, confident kids. Manage misbehavior so everyone in the family enjoys life more.