Businesses’ relationships with society are changing: The unmitigated race for profits is no longer to be tolerated if profits must come at the expense of people’s well being, or the planet’s preservation.
For decades, the corporate world’s thesis was that “the business of business is profit”—and nothing else. Yet for decades, an antithesis has grown, coming to be known as the ‘triple bottom line’ imperative: People and planet are as important as profit. Social and environmental preservation and enhancement are as important (or more so) than the relentless pursuit of financial gain.
What does the synthesis of these look like?
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