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The Triple Bottom Line is an accounting framework that incorporates three dimensions of performance social environmental and financial This differs from traditional reporting frameworks as it includes ecological or environmental and social measures that can be difficult to assign appropriate means of measurement The Triple Bottom Line dimensions are also commonly called the three Ps people planet and profits httpwwwbusinessdictionarycom The triple bottom line refers to a how a corporation deals with and reports on its impact and behavior in respect to people planet and profit It is corporate communication with stakeholders that describes the companys approach to managing economic environmental and social dimensions of its activities The stakeholders want to know how well the economy is going so they know how well the profits will rise This can let the stakeholders know how success they will continue to be The concept of the Triple bottom line was proposed by John Elkington who suggests that businesses need to measure their success not only by the traditional bottom line of financial performance profit but also by their impact on the broader economy the environment and on the society in which they operate John Elkington intention was good He wanted to look at the overall picture but somehow the society has gotten away from the big picture His good intention took a turn for the worse Mr Elkington wanted to explain to the world that you cannot get one without the other The economy environment and society make profits These three things are the important factors to make profits If these three things are not doing well or above average then profits are down along with everything else Businesses companies and stakeholders have lost focus of the three Ps people planet and profits Their three Ps have turned into one P profits They will do anything to make a buck A leader with long-term vision
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