Triple bottom line

Elkington's triple bottom line TBL is intended to advance the goal of sustainability in business practices, in which the focus of companies is extended beyond profits to include social and environmental issues to measure the total cost of doing business. Deploying money and other resources, such as human laborto a project or an investment can either contribute to these three goals or focus on profit at the expense of one or both of the other two. Some of the repercussions that have come about from ignoring the TBL in the name of profits include destruction of the rainforest, exploitation of labor, and damage to the ozone layer. The elements of the triple bottom line are referred to as "people, profits and planet.

Triple bottom line

We believe that a healthy economy, environment, and society are fundamental to long term business success. Therefore, we operate by taking social, financial, and environmental considerations into account when we make decisions. This ensures we manage our business sustainably and pursue solutions that are in the shared interests of the business and patients, and are in line with societal expectations.

To demonstrate our commitment to TBL, Novo Nordisk is one of only four companies in the world who have incorporated our philosophy into our company bylaws.

The Triple Bottom Line (TBL) is Novo Nordisk’s way of doing business. We believe that a healthy economy, environment, and society are fundamental to long term business success. Therefore, we operate by taking social, financial, and environmental considerations into account when we make decisions. Sep 14,  · The triple bottom line (also known as 3BL, the three Ps and the three pillars) puts into concrete terms what we already know: there’s more to business than . The triple bottom line (TBL) thus consists of three Ps: profit, people and planet. It aims to measure the financial, social and environmental performance of the corporation over a period of time.

As a result, the three pillars of TBL — Social ImpactEnvironmental Responsibilityand Financial Performance inform everything we do and guide every decision we make.

Our commitment to create value through innovation is our greatest contribution to society. Nearly a century of innovation and leadership has led to the development of a comprehensive portfolio of protein-based products and delivery systems for type 1 and type 2 diabetes care, as well as in other Triple bottom line areas where we can make a difference.

Social Impact Our commitment to social responsibility is exemplified by organizations such as the Diabetes Advocacy Alliance. Social responsibility is about caring for people.

What is the 'Triple Bottom Line (TBL)'

This applies to the people who depend on our products, as well as to our employees. We work to continuously integrate social, health, and safety considerations into our daily business. The Diabetes Advocacy Alliance for example, which Novo Nordisk co-founded, is a coalition of 20 members representing patient advocacy organizations, professional societies, trade associations, other nonprofit organizations, and corporations committed to changing the way diabetes is viewed and treated in America.

The member organizations work together to: Increase awareness among policymakers about the enormous challenges that diabetes poses to U.

[BINGSNIPMIX-3

Headquarters demonstrates our approach to being responsible stewards of our environment. Take for instance, our headquarters in the U. Our commitment to quality and our focus on maintaining high ethical standards goes hand in hand with living up to our responsibilities to shareholders, patients, society, and our own employees.

Utilizing recycled and locally-sourced materials, the new U. The LEED Silver certified campus is fully powered by renewable energy from wind, solar, and hydro sources — a feature that is expected to lead to a 30 percent reduction in energy costs.

The redeveloped building was designed to promote innovation, teamwork, and employee wellness. Features include a state-of-the-art cafeteria, a one-mile scenic walking path, and special quiet focus areas where employees can work effectively.

Financial Performance Investing in our employees contributes to our award-winning workplace and supports our goal of delivering innovative achievements. Economic viability is about managing the business in a way that secures growth and value creation, and delivers competitive performance in these areas.

Mind Tools for Your Organization

For example, we continuously invest in our employees. In fact, Novo Nordisk Inc. Our award-winning workplace and innovative achievements are consistently recognized for making a real difference in the lives of our patients and creating an unmatched setting for career advancement for our employees.

And Novo Nordisk is also committed to investing in Research and Development. This heritage has given us experience and capabilities that also enable us to help people defeat other serious chronic conditions: Shareholder information NYSE quotes delayed by 15 minutes.

Currency in USD Data Privacy All personal information reported in relation to a complaint or a side effect will be processed in accordance with applicable data protection legislation.The triple bottom line (TBL) thus consists of three Ps: profit, people and planet.

It aims to measure the financial, social and environmental performance of the corporation over a period of time. The triple bottom line (TBL) is a concept which broadens a business' focus on the financial bottom line to include social and environmental considerations.

The Triple Bottom Line: What Is It and How Does It Work?

The Triple Bottom Line: What Is It and How Does It Work? Timothy F. Slaper, Ph.D. Director of Economic Analysis, Indiana Business Research Center, Indiana University Kelley School of Business Tanya J.

Hall. Economic Research Analyst, Indiana Business Research Center, Indiana University Kelley School of Business Sustainability has been .

Triple bottom line

A business that produces a triple bottom line is taking account of the full cost of doing business. About Discover how we can help and how your business will benefit. The triple bottom line (or otherwise noted as TBL or 3BL) is an accounting framework with three parts: social, environmental (or ecological) and financial.

Some organizations have adopted the TBL framework to evaluate their performance in a broader perspective to create greater business value. Sep 14,  · The triple bottom line (also known as 3BL, the three Ps and the three pillars) puts into concrete terms what we already know: there’s more to business than just making money.

You could even say.

Triple Bottom Line (TBL)