The concept of triple bottom line (TBL), by emphasizing and integrating the three key dimensions of sustainable development, 'profits, planet and people', forced corporations to widen their circle of responsibility and focus not just on the economic value that they add, but also on the environmental and social value they add - or destroy (Elkington, 2004). The notion behind TBL is that the ultimate success of an organization is measured not by its financial bottom line alone but also by its social/ethical and environmental performance (Norman & Macdonald, 2003), that is, the “Three Ps – profit, planet and people”. Since this is a sustainability related construct, the drive for sustainable development brought more currency for this concept. The Economist (2009) has elaborated the three ‘Ps’: the traditional measure of corporate profit, the bottom line of a company's “people account”—a measure of how socially responsible an organization has been throughout its operations and the bottom line of the company's “planet” account—a measure of how environmentally responsible it has been.
Since the concept of TBL caught the attention of the policy makers and stake holders, considerable efforts have been made by the corporates, governments and the nonprofit sector to strive for sustainable paths of development. The corporates try to more fully incorporate sustainability practices into their corporate strategy, especially through the CSR activities. The initiatives taken by the governments of both developed and developing countries and international organizations towards green growth have been noteworthy. Evidences for the movements initiated by the nonprofit sector to bring the world into the path of sustainable development are also available.
It is in this back ground that this international conference is organized to bring together national and international scholars, researchers and practitioners from academics, industry, government and nonprofit sector to exchange and share their experiences. This will help in suggesting ways to formulate sustainability agenda in the development pursuits.
Published by De Paul School of Management