How important is People Planet Profit?
PPP is a term that was penned in the 90’s and is also known as ‘Triple-Bottom-Line’ which accounts for:
– People: social responsibility;
– Planet: environmental responsibility;
– Profit: economic value after inputs and all costs of capital.
Why important?
The foundation of the breakdown is that you only pay attention to what you can measure.
And if you can measure it you can account for the impact.
Reality
You live in a time of unprecedented change with real opportunities and challenges and the impact of decisions are felt immediately across the globe.
Poverty, dramatic increase in world population, unstable climate patterns, limited natural resources, deforestation of life-supporting eco-systems, a very fragile economy, extinction of species and low confidence in business are every-day REAL topics.
If enough is not done, it will only get worse.
And what will be left for future generations?
Rethink
Around the globe social and sustainable practices are gaining more attention as a form of investment and growth.
The growth opportunities are rapidly being embraced and the gold rush is on.
How is your organization embracing these new opportunities?
The future
Where can your organization and you start?
Master the challenge to monitor and calculate the values of each line and then do.
Examples:
People – don’t support suppliers known for using child labor, support fair pay salaries, create safe and enjoyable working spaces and give back by contributing to the strength and growth of your immediate community;
Planet – manage your energy consumption, reduce, reuse and recycle;
Profit – maximize profit by using both People and Profit as criteria in every decision and embrace Fair Trade products even if it is at a cost, principle being bottom line not the driver in decision making.
The challenge
You might struggle to balance your priorities and ambitions – the ultimate pursuit of personal and business success, whilst also seeking to make and leave the world a better place.
Working with a coach personally or bringing and executive coach onto your board could benefit and actually assist the other elements of plant and profit same time.
The challenge is to bring issues of sustainability to the heart of every business.
PPP demands the attention, vision and courage of business leaders and managers across all organizations globally to free business from the current negative spirals of a failing world and to embrace and inspire a new spirit of entrepreneurship and innovation through which all of us can prosper.
What will it take for you to step up and be the change?
Welcome to the dawn of a new business world.
It is no longer just about doing good, it is about a responsibility to do good!
As published in leading business journal Accountancy SA.