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The Necessary Paradigm Shift in Sustainable Business Practice Part 2: Beyond the Triple Bottom Line

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  • K. R. Murray
  • S. Boron

Abstract

A form of “groupthink” has emerged over the last 25 years on Business Sustainable Development (SD) reporting with the Triple Bottom Line approach (TBL) being adopted wholesale by industry and government. This paper reviews the original definition (Our Common Future, 1987) and the true meaning, which has been lost over the last quarter of a century, is established. SD is essentially a process/activity that has permanence; which has a way of meeting needs and is resource availability dependent with no trade-off. The paper goes on to summarise how the adoption of this principle has been easily integrated into the accepted International Standards Organisation’s (ISO) style Environmental Management System (EMS) and Life Cycle Assessment (LCA) procedures, such that Companies can develop an alternative strategic plan B in parallel to their TBL reporting.

Suggested Citation

  • K. R. Murray & S. Boron, 2020. "The Necessary Paradigm Shift in Sustainable Business Practice Part 2: Beyond the Triple Bottom Line," Journal of Management and Sustainability, Canadian Center of Science and Education, vol. 9(1), pages 111-111, March.
    • Handle: RePEc:ibn:jmsjnl:v:9:y:2020:i:1:p:111
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    References listed on IDEAS

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    2. Herman E. Daly, 2007. "Ecological Economics and Sustainable Development, Selected Essays of Herman Daly," Books, Edward Elgar Publishing, number 12606.
    3. Siti Nuryanah & Sardar M. N. Islam, 2015. "The Context of the Case Study," Palgrave Macmillan Books, in: Corporate Governance and Financial Management, chapter 5, pages 145-156, Palgrave Macmillan.
    4. Karl Widerquist, 2018. "The Bottom Line," Exploring the Basic Income Guarantee, in: A Critical Analysis of Basic Income Experiments for Researchers, Policymakers, and Citizens, chapter 0, pages 93-98, Palgrave Macmillan.
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    More about this item

    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • Z0 - Other Special Topics - - General

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