recognition of the need for organizations to improve the state of people,the planet,and profit simultaneously if they are to achieve sustainable,long-term growth is referred to as

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The recognition of the need for organizations to improve the state of people, the planet, and profit simultaneously is referred to as the triple-bottom line. This concept encourages organizations to measure their success not just by financial profit, but also by their impact on social and environmental factors. It is a key component of sustainability and social responsibility, but not synonymous with those terms. Social entrepreneurship can also involve the pursuit of a triple-bottom line, but it specifically refers to using entrepreneurial ventures to tackle social and environmental problems. The marketing concept, while important for business success, does not necessarily include a focus on sustainability or social responsibility.

Recognition of the Need for Organizations to Improve the State