How often are management concepts subjected to recalls by the people who invented them? It is hard to think of a single case.
25 Years Ago I Coined the Phrase “Triple Bottom Line.” Here’s Why It’s Time to Rethink It.
It was supposed to be a radical rethinking of capitalism, but it’s become a mere accounting tool.
June 25, 2018
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Summary.
About 25 years ago, John Elkington coined the term “triple bottom line” as a challenge for business leaders to rethink capitalism. It was supposed to offer a radical new way forward, as businesses learned to stop focusing solely on profits and expand their focus to include improving the lives people and the health of the planet. But 25 years later, this radical goal has been largely forgotten, and “triple bottom line” thinking has been reduced to a mere accounting tool, a way of balancing tradeoffs instead of actually doing things differently. Today, we continue to outstrip our planetary boundaries with no sign of slowing down. And so Elkington offers a management concept “recall.” Because when it comes to sustainability, the time has come to either step up, or to get out of the way.