Ready, set, grow..
The triple bottom line is a framework which recommends that companies commit to focussing on social and environmental concerns, just as they do on profits.
Under this framework development should occur to meet the needs of current generations, while maintaining conditions and opportunities for future generations to do the same.
It’s (over)time for brands to take a stand
With consumers now globally preferring to buy from brands that take an ethical position on issues they care about, it’s never been more vital for businesses to be clear about what matters to them in the world and to actively communicate and implement those values.
An Accenture survey of 30,000 global consumers (Dec 2018) highlights that a brand’s purpose is massively influencing buying behaviour with more than 60% of consumers preferring to buy goods and services from those that demonstrate a shared purpose which aligns with their own beliefs and values.
62% of respondents in the survey said their purchasing consideration is driven by a company’s ethical values and authenticity.
A triple bottom line approach for meaningful sales
Tapping into the triple bottom line ethos, more than 37,000 participants from the Accenture survey reported their desire for companies to take a stand on social, cultural, environmental, and political issues close to their hearts.
“The brands that will be big in the future will be those that tap into the social changes that are taking place” – Sir Michael Perry, Chairman of Centrica PLC
CASE STUDY
Sharing what’s spare in the workplace
With corporations on the hunt for innovative programs to make their brand mean something more than just their products and services, Spare Harvest offers a unique and fun solution which ticks all three of the triple bottom line principles allowing brands a away to create a socially sensitive ecosystem internally and externally which packs a decent environmental impact while making more ethical profits.
Spare Harvest provides a resource-sharing digital platform, which connects something someone has, with something someone wants, but it’s a lot more than just a tech platform…
At Twin Waters Resort on the Sunshine Coast Queensland the HR team have championed the Resort’s own Spare Harvest community, which is bringing staff together to share what they have spare at home while connecting the team with the broader community.
“Staff are sharing what they have too much of at home or don’t need and learning more about one another along the way,” she said.
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