The Triple Bottom Line: The People, The Planet, And The Profits

1842 words - 7 pages

Profit: Organizational Viability Considerations and Recommendations
A business is formed primarily to profit its founders and employees. As part of the 3BL, profit is a co-equal consideration with business impacts on the planet and people. However, profit is the only of the three that is essential to the operation of the business; if the business is not making profit, then the next-best-case scenario is that the business is breaking even. That means that the business is stagnant and unable to invest in expansion and development without cutting jobs or reducing product costs. And of course, the worst case scenario is that the business is losing money, and its days are numbered. Therefore, profit is the only one of the 3BLs that needs to be maintained in order to keep the business running. A business can ignore its commitments to people and the planet and still continue operations. However, it is necessary for the business to maintain the other components of the 3BL in order to be truly successful.
Maintenance of profit is a balancing act. The business must ensure that corporate profit drawn from the community balances the profits that the community draws from the corporation. In other words, the company must be a benefit to the community as much as the community is a benefit to the company. The biggest benefit that a company provides to a community comes in the form of jobs and employment; a company hires members of a community and pays them a decent wage, which in turn drives economic growth in the community. This benefit must be in balance with the benefit that the company gets from the workers; in other words, if a company benefits from productive, skilled employees and makes very large profits, the employees would be unhappy if they were paid only minimum wage for very complex jobs. They would take their skills and find employment elsewhere, leaving the business bereft of a skilled workforce.
In order to maintain this balance in the community, BBA Financial can ensure that the company invests in a wealth of social and community programs that improve the community within which the company operates. BBA can provide programs which improve the lives of its employees. BBA can also invest in programs which improve the lives of those that are in the extended community by funding and creating community programs for people who may not work at the company. Lastly, BBA Financial can make contributions to charitable organizations which invest in social welfare causes on a larger, national scale. In such a way, BBA Financial can claim itself to be a driving force in the betterment of the lives of people throughout the nation.
In the same way, corporate resources drawn from the environment must be in balance with the positive impact that the company has on the environment. Many paper companies plant twice as many trees as they harvest for pulp, and in this way the company maintains a balance with the environment that makes a positive impact....

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