TRIPLE BOTTOM LINE IN A BUSINESS

   The evolution of profit from being the only objective of a business organization to one of the many objectives is clearly evident in today’s market place. Today, in order to survive it has become mandatory for an organization to look beyond profit and with a bird’s eye view it needs to consider various other factors directly or indirectly associated with it.
   3P's of Triple Bottom Line- PROFIT, PEOPLE and PLANET is gaining importance with every passing day. One of the most distinguished feature of these 3P's is that they cannot be ranked as per the degree of importance because all three are at par if one rates them. All these parameters are equally important to analyze the perpetual succession of any organization, be it a Sole Trading Concern or a Joint Stock Company. Ignoring any of these P's can lead to downfall of any operating firm.
   Businesses are excogitating the unfolding, along with the desire of making huge financial gains they are also laying emphasis on the environment and the society it operates in. AMUL, an Indian cooperative dairy company, based at Anand in the state of Gujarat, which today is jointly owned by 3.6 million milk producers in Gujarat. AMUL brand of milk and dairy products has the rank of 15 amongst the top dairy organisations of the world according to a recent survey by International Farm Comparison Network (IFCN), a leading, global dairy knowledge organisation. It still sources its milk from the local dairy farmers from the remote villages of India giving them a fair opportunity to earn for their livelihood. The society in which AMUL operates has made it what it is today and it is fairly giving back to the society in all the right ways.
    Where AMUL has become an established name and is taking into consideration the People aspect there is an Indian start-up named SATHI which is paving its way to enter the market with its amazing innovation aiming to reduce all the environmental hazards caused due to disposal of sanitary napkins. SATHI markets sanitary napkins made out of banana fibre which is 100% biodegradable unlike other sanitary napkins which has 90% plastic in it. A sanitary napkin made out of banana fibre is one of a kind and if it succeeds in creating the right amount of awareness it is going to be extremely beneficial in the long run as it will completely eradicate all the environmental degradation caused due to disposal of sanitary napkins. SATHI, by its idea of saving the planet also has the advantage of cause marketing, which directly or indirectly will result in increase in profits.
    A Business Organization can reach heights and it is going to reflect in their profit figures if it gives adequate importance to the people associated with it. In a survey conducted by Deloitte states 70% of millennial agreed to the point that ‘The organizations commitment to the community had an impact in their decisions to work there’. Where even market pioneers are struggling with the problem of high attrition rates this way it can make the employees stick to the organization for a longer period of time. Employee retention will enable to reduce wastage of available resources, the time and cost incurred in recruiting and training is a huge expense in itself which needs to be minimized. After its employees another important people element of an organization is its costumer. Costumer generation and retention is one of the most crucial tasks in a business. Business earns through its customer, it’s the customer who is the king and determines the survival of the business. In a study conducted by Nielson in 2015 states that over 66% of consumer  are willing to pay more if the company which produces that particular good or service is committed to social responsibility. P&G’s Shiksha campaign is one such example where a consumer is willing to contribute to social development buy buying its products.

   With various environmental problems like pollution, global warming, ozone layer depletion, natural resource depletion, deforestation and social problems like poverty, wars, religious conflicts, unemployment the world is tough. It is neither the sole responsibility of one person or the operating government of the country or state to look into all these matters nor is it possible. Various organizations spread across the world can look into all these matters and contribute their part to the well-being and understand the fact that it is not only about PROFITS it is about PROFITS, PEOPLE and PLANET