The Triple Bottom Line (TBL)
Definition
Triple Bottom Line (TBL)
An expanded framework for measuring organisational success that includes three key areas: economic (profit), environmental (planet), and social (people). It encourages businesses to balance financial performance with environmental responsibility and social equity.
- Based on three key dimensions:
- Social (People)
- Economic (Profit)
- Environmental (Planet)
- This approach encourages designers to consider the broader impact of their work beyond traditional financial metrics.
Patagonia
- People: Fair labour, transparent supply chain
- Planet: Recycled materials, repair-first culture
- Profit: Successful business model driven by ethical branding and loyal customer base
Understanding the Three Ps
Social (People)
- Focus: The well-being of individuals and communities affected by a product or service.
- Key Considerations:
- Fair Labor Practices: Ensuring safe working conditions and fair wages.
- Community Impact: Supporting local economies and minimizing negative effects.
- User Experience: Designing products that enhance quality of life.
A company that sources materials from fair-trade suppliers supports ethical labor practices and contributes to community development.
Economic (Profit)
- Focus: The financial viability and economic impact of a product or service.
- Key Considerations:
- Cost Efficiency: Minimizing production costs without compromising quality.
- Market Competitiveness: Offering products that meet consumer needs and drive sales.
- Long-Term Sustainability: Balancing short-term profits with long-term growth.
