Triple Bottom Line: Definition, Brief Explanation

Triple bottom line is a framework that incorporates three dimensions of performance: 

1. People (social) 
2. Planet (environment)
3. Profit (economy)

The three are the basis for sustainable business. Companies should not only focus on the economic dimension (profit) but also combine the other two aspects.

Events such as the BP oil spill, climate change, and the 2008 financial crisis have raised concerns about environmental sustainability. When the environment and people do not exist, of course, there is no business. Hence, companies must also prioritize ethics and social responsibility in their operations, not just make a profit.