John Elkington

Definition

John Elkington is a British entrepreneur and author known for his work on sustainability and corporate social responsibility. He is best recognized for coining the term 'Triple Bottom Line,' which emphasizes the importance of measuring a company’s commitment to social, environmental, and economic performance. This framework challenges traditional business practices by advocating that businesses should focus not just on profit but also on people and the planet.

5 Must Know Facts For Your Next Test

1. John Elkington first introduced the concept of the Triple Bottom Line in his 1997 book 'Cannibals with Forks: The Triple Bottom Line of 21st Century Business.'
2. The Triple Bottom Line encourages businesses to evaluate their success based on their contributions to society and the environment, alongside financial performance.
3. Elkington founded the consulting firm SustainAbility, which focuses on helping companies navigate sustainability issues.
4. He argues that businesses can achieve competitive advantages by adopting sustainable practices that benefit society and the environment.
5. Elkington's work has influenced numerous organizations and governments to integrate sustainability into their policies and practices.

Review Questions

• How does John Elkington's concept of the Triple Bottom Line challenge traditional business practices?
  • John Elkington's Triple Bottom Line challenges traditional business practices by shifting the focus from purely financial profit to include social and environmental responsibilities. This approach encourages companies to consider the broader impact of their operations, pushing them to create value not just for shareholders but also for stakeholders such as employees, communities, and the environment. By doing so, businesses can enhance their long-term viability and reputation while contributing positively to society.
• Discuss how John Elkington's work has influenced modern corporate strategies regarding sustainability and social responsibility.
  • John Elkington's work has significantly influenced modern corporate strategies by embedding sustainability into the core of business operations. His advocacy for the Triple Bottom Line has prompted many companies to adopt practices that prioritize environmental stewardship, social equity, and economic growth. This shift has led organizations to develop more comprehensive CSR programs, engage with stakeholders more effectively, and report transparently on their sustainability efforts, ultimately creating a new standard for corporate accountability.
• Evaluate the impact of John Elkington's contributions on global business practices and policy-making related to sustainability.
  • The impact of John Elkington's contributions on global business practices and policy-making has been profound. His concept of the Triple Bottom Line has inspired a movement towards integrating sustainability into business strategies worldwide. This has influenced governmental policies aimed at promoting corporate responsibility, leading to regulations that encourage sustainable development. As a result, businesses are increasingly held accountable for their social and environmental footprints, fostering a culture where sustainability is seen as essential rather than optional.

Related terms

Triple Bottom Line:

A sustainability framework that encourages companies to focus on three bottom lines: social, environmental, and economic.

Sustainability:

The practice of meeting present needs without compromising the ability of future generations to meet their own needs, particularly in relation to environmental health, economic viability, and social equity.

Corporate Social Responsibility (CSR): A business model in which companies integrate social and environmental concerns in their operations and interactions with stakeholders.