Business Terms

Sustainable Marketing

Sustainable Marketing refers to a process, in delivering customer value and products that have a positive impact on the environment. Hardison (2014) explains how ‘sustainable marketing has three foundational principles’. The first one looks at ‘waste reduction and social engagement’. The second, ‘bartering versus purchasing’ and finally ‘longevity’.

Triple Bottom Line

Triple Bottom Line looks at how ‘companies should be preparing three different (and quite separate) bottom lines. One is the traditional measure of corporate profit—the “bottom line” of the profit and loss account. The second is the bottom line of a company's “people account”—a measure in some shape or form of how socially responsible an organisation has been throughout its operations. The third is the bottom line of the company's “planet” account—a measure of how environmentally responsible it has been’, (The Economist, 2009)

Corporate Social Responsibility

Corporate social responsibility, commonly known as CSR, ‘is a corporation’s initiatives to assess and take responsibility for the company’s effects on environment and social wellbeing. The term generally applies to efforts that go beyond what may be required by regulators or environmental protection groups’, (Investopedia, 2015). This terms refers to those companies who are interested in going an extra mile to make a positive impact on society.

The Natural Step Framework

This framework looks at four sections that business’ should consider. The initial point looks at what we take from the planet, followed by what do we make. The third point looks at what we do to the earth and finally how do we meet human satisfaction.

References

HARDISON, Karen. 2014. What is the meaning of the sustainable marketing and how does such an approach lead to better relationships with customers? Available at: http://www.enotes.com/homework-help/what-meaning-sustainable-marketing-how-such-an-163469 [Accessed: 27/10/2015].

Investopedia. 2015. Corporate Social Responsibility. Available at: http://www.investopedia.com/terms/c/corp-social-responsibility.asp [Accessed: 26/10/2015].

The Economist. 2009. Triple bottom line. Available at: http://www.economist.com/node/14301663 [Accessed: 27/10/2015].