Triple Bottom Line

I’m a senior undergrad business major STILL unsure about what to do for the rest of my life. Mind you, graduation is looming dangerously around the corner just less than four months away. You might be wondering what the hell is taking me so long to figure it out. Well here is my dilemma. While in the process of job-hunting and recruiting, I feel as though I am at this junction. On one hand, I’m applying for jobs in major corporations and companies because I want a secure, well paying job. That side of me, fueled by parents who want to see me succeed (aka make lots of money) and my peers bragging about their offers from investment, financial services, and consulting firms, screams at me to go where the money will flow. On the other hand, I want to do something that actually matters, where I am contributing to society and not just the company’s bottom line.

This got me wondering if the companies with job listings through my school’s career center all operate with their bottom line in mind? Are there any businesses that combine this pursuit for profits with the pursuit of solving social issues? Is there something beyond the bottom line that matters? A little bit of Googling and ta-da! Social entrepreneurship is a mixture of both – these enterprises are for profit businesses designed to make a social impact while making a profit. Essentially, they operate on a double or even triple bottom line.

What is the triple bottom line?

This phrase was coined by John Elkington in 1994 as a way to measure sustainability by incorporating three dimensions of performance: financial, social, and environmental. These 3 pillars are also known as the 3Ps: profits, people, and planet. At this starting point, I would guess not many companies truly operate according to the triple bottom line. But as I’ve begun to research, there are some notable enterprises that we all know already – one that you’d expect to see here and one you may not. 

My first famous example is none other than TOMS Shoes, a company that began with the simple premise of giving a pair of shoes to a child in need for every pair that is bought. As of September of 2010, more than a million pairs of shoes were given out to children in more than 20 countries worldwide. The second company I am mentioning did not start out as a social enterprise but has recently launched a campaign that certainly propels it toward the 3Ps. I’m talking about Pepsi and the Pepsi Refresh Project where Pepsi awards grants to individuals, businesses, and nonprofits seeking to make a positive impact in their communities. These individuals/organizations are categorized into Arts & Music, Communities, or Education and those with the highest number of votes within the given voting period are awarded with grants of various levels.

In this blog, I intend to seek out businesses and entities like those above that take the triple bottom line concept to heart. What kinds of social enterprises are out there? What makes them unique? What makes them successful (or even unsuccessful)? Which major corporations are stepping up in pursuit of the triple bottom line and how are they doing it? Join me as I search for the answers to these questions and learn about some amazing groups of people along the way!