The 3Ps and the 3Es

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The triple bottom line is a framework in business which considers the social and environmental stakeholders in making decisions while taking into account the financial aspect as well.

As a business student, I have encountered the three terms which make up the triple bottom line a lot - People, Planet, and Profit or in short, the 3Ps. These were mentioned numerous times in my classes and I could really see their significance in the business world.

In one of our sessions in CSRGOVE, our professor further discussed on this topic and he even told us about his thesis which is related to this. His team proposed a new framework that go hand-in-hand with the triple bottom line. They called it the 3Es which consists of efficiency, effectiveness, and equity.

Efficiency could be accomplished when activities done by businesses reduce/eliminate harm in the environment, follow ethical and social responsibility, and are cost-efficient.

Effectiveness gives emphasis more on the restoration on the environment, solution to the root problems of society, and the development of activities into investments for the 3Ps.

Equity, on the other hand, focuses on how operations today could still yield enough resources and benefits to the future stakeholders, and ensure that the costs to be incurred will not be a hindrance to the business's growth.

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I believe that this framework would be a great aid when it comes to analyzing problems and making decisions in the business industry when it comes to sustainability because of its relevance to the triple bottom line.