Integrating a Triple Bottom-Line Approach into the Management System: A Framework for Institutions and Businesses Alike
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Organizations are increasingly considering a transition to a more sustainable management approach, primarily as a result of drivers related to operational efficiency, regulatory compliance, and corporate reputation. Accordingly, organizations that are adapting to this trend are often gaining a competitive edge. Though research has linked industrial ecology to sustainable business, there is a void on the practical level that leaves businesses unequipped to implement this approach, now commonly known as triple bottom-line management. In response, this paper uses concepts of material flow analysis to create a multi-sectoral framework that guides organizations through the process of achieving a triple bottom-line management system. Specifically, the framework outlines a set of steps and considerations for comprehensive assessment, indicator development, measurement schemes, and reporting that are necessary to achieve an integrated result.