The Triple Bottom Line: How Today's Best-Run Companies Are Achieving Economic, Social and Environmental Success -- and How You Can Too

This book, like the title says, really addresses the triple bottom line that all businesses should pursue in order to be sustainable. It is an easy read; captivating.

I accepted a new job in 2009 directing sustainability implementation in a small business. Senior management had already made the decision for me ... implement the Triple Bottom Line. I was elated to find this book BUT I found it lacking, especially on the People portion of the three P's of Profit, Planet and People. While the authors are knowledgeable, this book came across as if they were consultants who needed a book to give away when they made sales calls.

It's time to pull Savitz's book off the shelf and re-read it! This 2006 book is more relevant now than ever and the surviving companies of this present economic reset will be employing many of the ideas discussed in the Triple Bottom Line.

What is the "Triple Bottom Line (TBL)?" Savitz claims that we will all need to be paying attention to maximizing the Economic, Environmental and Social impacts of the business. TBL captures the fundamental measurements needed to build a sustainable business model. It provides a kind of balanced scorecard that captures "in numbers and words the degree to which any company is or is not creating value for its shareholders and for society."

Sustainability is much in the news today. A recent LA Times article discussed how California is now in a serious water supply crisis. The global warming issue (regardless of what you think the cause may be) is on the front burner. Consumers and employees are now looking for companies that are authentically concerned about and address the major sustainability challenges we all face.

In part I of his book, Savitz provides anecdotal data and case studies on The Sustainability Imperative. He gives examples of companies that simply didn't get it (and a couple still don't today), and those who did things right. He takes into account the fact that our companies are a mere blog posting away from sever public scrutiny - regardless of the accuracy of any claim.

Part II of TBL provides some ideas and outlines for "How Sustainability Can Work for You." Clear examples of "real life companies" are provided to emphasize the points being made concerning inclusion of ALL stakeholders. Practical advice is given on how to manage stakeholder engagements and their challenges.

In the Epilog and Appendix, Savitz gives practical action steps to merging private profit with public good. The concept of business as being ONLY for profit will no longer suffice. That is proving to be true in just three short years since Savitz published his book. A very good read and food for thought on corporate governance.

Authors Savitz and Weber revisited competitive advantage paradigm by mapping opportunities of creating sustainable value from the perspective of managing stakeholders' engagement on the entire value chain, upstream and downstream.

They introduced the "Sustainability Sweet Spot" concept as a point of convergence for addressing business and stakeholders' interests. By improving corporate social and environmental governance, many windows for exploring financial gains are opened. In doing so, strategists have a resourceful methodology toward the triple bottom line achievement.

Broken expectations: mapping social and environmental-drivers and building key-financial performance parameters remain challenging. Good news: authors had meaningfully advanced on frameworking a sustainability corporate strategy platform that can provide rich insights for early developers.

Significant business cases on corporate environmental strategy were presented. These, ranges from the GE's model of addressing climate changing as a source of increasing market share and profitability to the PepsiCo's business risk reduction by investing in water availability and quality.

The Triple Bottom Line is one useful source of knowledge for those interested in learn from good practices on sustainability management.

The old monopolistic practices of industrial-age robber barons and captains of industry of the early 20th century will likely continue to cast a long shadow deep into the 21st century. Even today, the expectations surrounding corporate conduct and responsibility continue to rise with heightened demands, vocalized by various stakeholders, that companies help address issues around human rights; public health; exploitive labor practices; climate change; reducing poverty and spurring diversity - in addition to the pursuit of profits. The author of the book titled - Triple Bottom Line - believes that the age of corporate accountability has arrived and that businesses that hope to endure into the future need to take a more responsible and sustainable approach as to the way they operate. Soundview likes this ideal because the writer stresses that the best companies will embrace this strategy not because of government regulation or coercive philanthropy, but simply because it is the right thing to do. The truth is that the old guard, grasping model of running a business in the sole pursuit of profit has given way to a more holistic perspective that requires companies to give thought as to how they can help work toward the solutions of our collective problems. The organizations that can adapt to that shift will be well positioned to succeed in the global marketplace.