Triple Bottom Line (TBL a" 3BL)

Abstract

Traditionally, businesses were solely operated to generate revenues, maximize cashflows, distribute dividends, and produce profits. It was all about the bottom line and the bottom line was about profits.

With the advent of social entrepreneurship and Corporate Social Responsibility (CSR), a new way of measuring business success has developed. It is referred to as the Triple Bottom Line. It measures the success of a business, not only by profits but also by social and environmental capital.

It is contradicting to the Milton Friedman's economic model, which has profit as the single bottom line, ("The social responsibility of business is to increase its profits" - Milton Friedman, 1970) the triple bottom line has the three Ps - People, Planet and Profit, at its core.

This paper tries to provide an insight for institutions and its management to evaluate various perspectives of sustainable growth representative, Triple Bottom Line.