John Elkington

Definition

John Elkington is a British entrepreneur and author known for coining the term 'triple bottom line' which refers to the social, environmental, and financial impacts of business. His work emphasizes that companies should be accountable not just for profits, but also for their effects on people and the planet. This concept has become foundational in discussions surrounding corporate social responsibility and sustainability, urging businesses to adopt a more holistic approach to their operations.

5 Must Know Facts For Your Next Test

1. John Elkington founded SustainAbility, a consultancy that focuses on corporate sustainability and responsible business practices.
2. His 1997 book, 'Cannibals with Forks: The Triple Bottom Line of 21st Century Business', popularized the concept of the triple bottom line.
3. Elkington’s work has influenced many businesses to adopt sustainability reporting, where companies disclose their impacts on society and the environment.
4. He argues that long-term business success relies on achieving a balance between profitability and responsible practices.
5. Elkington has been recognized as a leading thinker in sustainability and has received several awards for his contributions to the field.

Review Questions

• How did John Elkington's concept of the triple bottom line influence modern business practices?
  • John Elkington's concept of the triple bottom line reshaped how businesses measure success by incorporating social and environmental metrics alongside financial performance. This approach encourages companies to assess their operations not just in terms of profit but also in how they impact communities and ecosystems. As a result, many organizations have integrated sustainability initiatives into their business strategies to improve their overall accountability.
• In what ways has John Elkington's work contributed to the development of corporate social responsibility as a mainstream practice?
  • John Elkington’s work has significantly contributed to corporate social responsibility by providing a structured framework through the triple bottom line. By promoting the idea that businesses can achieve profitability while also being socially and environmentally responsible, he helped legitimize CSR as a vital aspect of corporate strategy. His emphasis on transparency in sustainability reporting has encouraged companies to take more meaningful actions in CSR, making it a core part of business identity.
• Evaluate the impact of John Elkington's ideas on the relationship between businesses and stakeholders in the context of sustainability.
  • John Elkington's ideas have profoundly changed the relationship between businesses and stakeholders by fostering greater transparency and accountability. By emphasizing that businesses must consider their social and environmental impacts, he encouraged companies to engage with a wider range of stakeholders, including employees, customers, and local communities. This shift has led to more collaborative approaches to problem-solving and decision-making, making stakeholder engagement an essential element in achieving sustainable business practices.

Related terms

Triple Bottom Line: A framework that encourages businesses to focus on three key areas: social, environmental, and economic performance.

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

Sustainability: The practice of meeting the needs of the present without compromising the ability of future generations to meet their own needs, often encompassing environmental protection, social equity, and economic viability.