The Integration And Adaptation Of Sustainable Procedures Essay

890 Words Dec 13th, 2016 4 Pages
The integration and adaptation of sustainable procedures in any business requires a Triple Bottom Line approach. This approach can also be a micro solution to the tragedy of the commons problem. The concept of the triple bottom line implies that a company’s successfulness cannot be judged solely on financial performance, but on environmental and social impacts as well. As Hardin described, a shift in human values is needed in order for this approach to work, as well as a voluntary coercion collaborative effort from all businesses. A company’s responsibility must not only be to the shareholders, but also to the stakeholders. These three areas are interconnected, and are dependent on one another for success. This approach also illustrates the ever-evolving relationship between businesses and society. At the core of this concept is a constant dialogue between organizations and their various stakeholders in order to prevent problems or relieve current dilemmas. Companies who choose to follow a Triple Bottom Line approach seek an integration of business and social interests. Similar to Hardin’s call for cooperative control efforts based on “mutual coercion, mutually agree upon”, Triple Bottom Line reporting includes forming arrangements and processes for the benefit of improving social responsibility to its stakeholders. Both approaches call for collaborative social action and a shared sense of motivation to create effective controls in order to use resources in a way that…

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