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Triple Bottom Line

Triple Bottom Line

          The Triple Bottom Line is a concept coined by John Elkington, originally developed from the Brundtland Commission of the United Nations in 1987, with an idea of people, planet, and profit. It assesses the balanced success of the organization in three aspects are economic (growing the business), social equity (social support), and the environment (environmental preservation), including business operations with transparency and corporate governance. This will allow a business to evaluate risks and responses to the needs of all stakeholders that will lead to the success of sustainable business development.
          People or people capital is a concept that emphasizes the business fairness to workers, local and community without exploit or harm to workers and community. The united of local communities can be built by developing infrastructure, including fair trade where equal conditions such customer purchases a product from farmers at the appropriate price level that also maintains farmers lift balance, being fair to workers, democratic management structure, no child labour, improve the working environment and training worker and farmer skills regularly.
          Planet or planet capital is a business operation that promotes sustainability and environmental protection. Businesses should produce by consuming resources that less negative impact on the environment as possible. Moreover, having recycle system or resource recycleand adopting environmentally-friendly processes such as reducing or cut out chemicals and toxins in production, will maximize benefits and help the natural resources.
          Profit in this sense means economic profit which equals the profit after costs both visible and invisible, then can be called a real profit. Business also needs to make a profit for their shareholders whereas the Triple bottom Line methodology does not aim for only the highest profit but takes considering the "benefits" and "costs" of the social and environmental aspects on doing business.
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