By Karl Weber, Andrew Savitz
The Triple final analysis is the groundbreaking booklet that charts the increase of sustainability in the company international and exhibits how and why monetary luck more and more is going hand in hand with social and environmental success. Andrew Savitz chronicles either the genuine difficulties that businesses face and the leading edge strategies that may come from sustainability. His is a hard-line method of bottom-line basics that's re-making businesses all over the world.
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Extra info for The Triple Bottom Line: How Today's Best-Run Companies Are Achieving Economic, Social and Environmental Success -- and How You Can Too
Stakeholders including consumers, the media, activist organizations, government agencies, and the general public will hold you accountable for actions taken by organizations in your network—such as a cocoa grower that employs child labor or a logistics company that exploits foreign students. In the Age of Sustainability, the excuse “We didn’t do it, our business partner did” simply doesn’t ﬂy. Bad things can happen to good companies that fail to take a broad view of accountability. Well-intentioned, well-managed organizations like the Hershey Trust and Hershey Foods that focus exclusively on shareholders as if they were the only stakeholders that matter are headed for trouble just as certainly as those that knowingly violate societal norms in pursuit of proﬁt.
Like most business strategies, sustainability is not a guarantee of ﬁnancial success. It requires commitment, resources, and a change of direction, which entail costs and risks. The real question to ask yourself, as with all important business decisions, is this: Is sustainability a good bet for me and my company? More and more companies are answering yes. Sustainability is quickly becoming mainstream. Socially responsible initiatives, from the Prius to natural foods, from green buildings to ecofriendly clothes and cosmetics, from responsible outsourcing to diversity in hiring, have migrated from being considered heretical, to impractical, to visionary, and ﬁnally to common sense—usually as soon as they begin to turn a proﬁt.
Perhaps. But it’s also possible that he was quite sincere in his praise of transparency, yet equally unaware of the powerful undertow that Hershey’s traditional, deeply ingrained corporate culture exerted, making true transparency almost impossible. In the twenty-ﬁrst century, companies can no longer get by with an attitude of father-knows-best paternalism. If your company culture isn’t evolving to meet the new expectations, even the best-intentioned sustainability program is likely to founder.