How can businesses create value through sustainable practices?
The inherent necessity to increase societal benefit for corporations
leads to a requirement to create value through a holistically focussed
intention. Emphasised throughout the examination of the triple
bottom line, this notion contends success to be measured through
extensive practices, far beyond the scope of economic benefit alone
(Elkington, 2018). Instead of a narrow, profit-based focal point, value
can be incorporated through an augmentation of society’s social and
environmental prosperity (Elkington, 2004). Therefore, corporations
must consider the full cost involved in their practices in order to
generate integrated enhancement, such that going forward, value
may extend broadly, as opposed to the single-minded nucleus of past
philosophies. This will permit institutions such as ‘the coffee
company’ to evidently portray these fundamentals