An Approach For Measuring Sustainability Performance

Jackson et al. (2011) and John (1994) established the term â€Å"Triple Bottom Line† as an approach for measuring sustainability performance. Govindan et al. (2013) explains that TBL consists of three words ‘Profit, Planet and People’ which implies measuring the company’s performance on three parameters ‘Economic, Environmental and Social’. It is an approach for evaluating management performance. In addition, the concept of TBL proposes that economic performance cannot be achieved alone at the expense of the environment and society (Goel 2010), companies must carry out its operations to positively protect the environment and the people within the community (Govindan et al. 2013). Implementing these sustainability initiatives, they also gain business continuity, long-term economic success and competitive advantage (Carter and Rogers 2008). Therefore, adopting the triple bottom line approach, the company gains economic prosperity, environmental q uality, and social fairness. Figure xx Triple Bottom Line Source: Generated by Researcher 2.1.1.1. Economic Growth / Profitability This is the business initiative activities executed by companies on maintaining profitability and business continuity while securing and preserving the environment and human beings living in the environment (Yusuf et al. 2013, Jackson et al. 2011). The importance of company’s long-term survival which needs to be sustained over time is as a result of the collective contributions of environmental and socialShow MoreRelatedTriple Bottom Line Model Analysis1743 Words   |  7 Pagesaccomplishment or rather the wellbeing of a company through its conventional monetary bottom line. However, triple bottom line similarly measures social, ethical as well as environment performance of the company. 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