Many organizations are still talking about the triple bottom line (Profits, People, Planet) as if it’s the gold standard for ethical business.
While it’s a great improvement over focusing on profit alone, the triple bottom line doesn’t reflect the current expectations of customers, employees and global markets.
Business leaders are expected to think beyond simple profits (how they benefit) to consider what happens to their many stakeholders. The Profit, People, Planet concept, a popular construct for understanding ethical business, doesn’t cover all of the bases.
For example, the Triple Bottom Line model excludes:
- honoring laws and regulations
- demonstrating moral awareness, character and integrity
- contributing to communities, and
- working to ensure a good life for future generations
In the book7 Lenses, I propose a model for talking about ethical leadership that goes well beyond the Triple Bottom Line to include seven different aspects of responsible business leadership.
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