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Do you agree with German Chancellor Angela Merkel on her comment: "Sustainability does not have to come at the cost of economic growth and it can ensure a better world. Sustainable development does not sacrifice economic growth. This is a misunderstanding. Sustainable development gives us a new opportunity to create wealth.? How can businesses (small and big) apply the triple bottom line to their daily operations in order to be more sustainable? Does sustainability foster economic growth for businesses that integrate it into their strategic planning? How? What are you going to do to incorporate the concepts of sustainability and the triple bottom line in your line of business, or professional career?
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Indeed, sustainable development serves as a new avenue for creating wealth and improving peoples quality of life. Generally, the sustainable development approach seeks to meet peoples current needs without compromising future generations. Therefore, sustainable development not only seeks to improve peoples way of life but also ensure that they do not deplete the existing resources at the expense of economic growth. The triple bottom line (TBL) is a concept that involves analysis of three parts; the environment (ecology), social, and financial. Businesses can use the TBL approach to determine their metrics of financial success and compare them with social justice and environmental stewardship (Goh, Chong, Jack & Faris, 2020). The TBL model will enable an organization not to focus mainly...
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