Elkington

Definition

Elkington refers to John Elkington, a key figure in sustainability and corporate social responsibility, known for coining the term 'Triple Bottom Line' (TBL). This concept emphasizes that businesses should focus not only on profit but also on social and environmental impacts, promoting a more holistic view of success that connects to mapping and visibility within supply chains.

5 Must Know Facts For Your Next Test

1. John Elkington introduced the concept of the Triple Bottom Line in 1994 to encourage businesses to pursue sustainable development.
2. The TBL framework has become a standard for measuring a company's commitment to sustainability and responsible practices in their supply chain.
3. Elkington's ideas have influenced numerous corporations to adopt sustainability initiatives and improve their transparency regarding social and environmental impacts.
4. Mapping supply chains in alignment with Elkington's principles allows companies to identify areas for improvement and enhance their overall sustainability efforts.
5. Elkington has authored several books on sustainability, including 'Cannibals with Forks,' which explores the integration of economic, environmental, and social values.

Review Questions

• How does the concept of the Triple Bottom Line influence supply chain mapping and visibility?
  • The Triple Bottom Line encourages companies to consider not just financial gains but also their social and environmental responsibilities. In supply chain mapping, this means identifying and evaluating the impacts of each stage of the supply chain on society and the environment. By focusing on TBL, companies can enhance visibility into areas where they can improve their practices, ensuring they contribute positively to all three pillars of sustainability.
• In what ways have businesses implemented Elkington's ideas into their corporate strategies?
  • Many businesses have adopted Elkington's Triple Bottom Line by integrating sustainability reporting into their corporate strategies. This involves regularly assessing and disclosing their economic performance alongside social equity and environmental stewardship. Companies are now using tools like life cycle assessments and carbon footprint analysis to better understand their supply chains' impacts, leading to more informed decision-making that aligns with sustainable practices.
• Critically analyze the impact of Elkington's Triple Bottom Line on global supply chains in the 21st century.
  • Elkington's Triple Bottom Line has profoundly impacted global supply chains by driving companies toward more responsible business practices. As consumers increasingly demand transparency and accountability, organizations are reevaluating their supply chain processes to ensure ethical sourcing, reduced environmental footprints, and enhanced community well-being. This shift not only fosters greater brand loyalty but also mitigates risks associated with unsustainable practices, ultimately reshaping how businesses operate in a complex global landscape.

Related terms

Triple Bottom Line: A framework that encourages companies to measure their success based on three pillars: social, environmental, and economic performance.

Sustainability Reporting: The practice of disclosing a company's economic, environmental, and social impacts, allowing stakeholders to assess the company's commitment to sustainability.

Corporate Social Responsibility: A business model where companies incorporate social and environmental concerns in their operations and interactions with stakeholders.