Listen "The Quintuple Bottom Line"
Episode Synopsis
The Quintuple Bottom Line? Isn’t ONE bottom line enough??Through his writings and advocacy, British author and entrepreneur John Elkington has significantly shaped the conversation around viable, long-term business practices.Elkington encourages businesses to consider the impact of their activities on people, the planet, and profit. He called the concept the "Triple Bottom Line." The term is now fundamental to corporate sustainability and responsible business practices.At California State University Monterey Bay - CSUMB - the College of Business Founding Dean Emeritus, Doctor Shyam Kamath, preferred Quintuple Bottom Line or QBL. QBL takes the Triple Bottom Line concept a couple of steps further than People, Planet, and Profit to include Ethics and Equity. Why? To honor the idea that responsible businesses memorialize their ethics in writing, setting expectations of behavior for which firms may be held accountable. On the other hand, putting equity front and center makes fairness and equal opportunity core business principles.So, this is how Responsible Business and the Quintuple Bottom Line came to be the educational platform upon which the College of Business at CSUMB stands.The QBL provides also provides us with a simple memory jogger. When thinking of the tenets of Responsible Business, just remember "Three-P, double-E." That's People, Planet, Profit, Ethics and Equity. Easy to remember.Now, let's get on with the job of explaining and applying it.—————————Music: Steal My Clothes (feat. Bea Miller) - Kito, Bea Miller, LP Giobbi
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