Wildfires in Greece, hailstones the size of tennis balls in Italy, floods in Sweden and temperatures exceeding 45 degrees in Spain. The evidence is piling up: our planet is undergoing drastic climate changes with global consequences. It is more important than ever that we act now. And we’re not just talking about individuals and governments, but especially about businesses.
You might be wondering, “Is this another activist blog?” Absolutely not. Our goal is to challenge you to look at sustainable business from a different perspective. Many of us grew up with the idea that doing good and doing business cannot be done simultaneously. But this is not the case! Studies by organizations like McKinsey, Harvard and The Guardian have shown for years that sustainable business models yield better results than their non-sustainable counterparts. We call sustainable business models Triple Value business models: business models that are designed to add value for People, Planet, and Prosperity.
The Triple Value concept originated in the 1990s. It is a framework that encourages organizations to look beyond the traditional financial bottom line. With Triple Value, it is essential to also incorporate social and environmental considerations into decision-making and strategy. So, it is a holistic approach where you don’t just focus on making financial profit, but also create value for people and minimize or even positively influence the ecological footprint. Triple Value encourages you to take responsibility for the broader impact your organization makes.
A Triple Value approach offers many opportunities and is crucial for your organization for multiple reasons. Let’s start at the beginning. Our goal is to make your organization future-proof. In this rapidly changing world we live in, we are increasingly facing unexpected social, ecological, and economic challenges. No one saw the COVID-19 pandemic or the war in Ukraine coming. Changes like these require resilience from your organization. You develop this resilience by incorporating a focus on People, Planet, and Prosperity into your long-term vision and strategy. This way, as an organization, you are better prepared for unexpected challenges.
A Triple Value business model is not only important for your organization itself, but it also helps to strengthen the loyalty of your stakeholders. And that’s a big deal. Nowadays, stakeholders demand Triple Value. We live in an era where transparency and responsibility are becoming increasingly important. More and more consumers, employees, as well as investors and shareholders prefer Triple Value organizations. Organizations that reflect their values and strive for a positive impact.
Finally, Triple Value helps organizations to identify new opportunities in the market and stimulate innovation. For the social and ecological challenges that arise, organizations can develop innovative products and services. In this way, they can access new market segments. There are four building blocks that help achieve sustainable innovation. These are:
- Desirability
- Feasibility
- Viability
- Responsibility
In our ‘Sustainable Innovation’ blog, you can read more about these building blocks and regenerative business models.
We can’t ignore it any longer. In this rapidly and drastically changing world, we face challenges that we can’t solve with an old mindset. And we don’t have to. Numerous good examples show us that a Triple Value business model works. Doing good and doing business don’t conflict with each other. A Triple Value business model proves not only to be ethically responsible but also contributes to sustainable growth and resilience. If you embrace this holistic approach, you’ll discover that doing good truly goes hand in hand with doing business and innovation. Triple Value helps you become future proof in a world that demands more and more from organizations.
Do you want to know more about Triple Value? Or are you facing challenges in designing a Triple Value business model? Please contact us. With our Triple Value proposition, we can help you.
