Business - Balancing 3Ps (financial, social and natural environmental)

Running head: STRATEGIC MANAGEMENT
Strategic Management
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STRATEGIC MANAGEMENT1
Balancing 3Ps (financial, social and natural environmental) of business
sustainability
Sustainability is now a days defined as the goal of most of the businesses, and they want
to implement sustainable growth in the business processes. For measuring the sustainability of
the business a framework is defined which is known as 3 P or Triple Bottom line framework (He
et al., 2019). This framework helps to measure the profits, value of shareholder and the return on
the investment in the business and also includes environmental factors and the social factors.
The challenges that the managers face to balance 3 P of sustainability in an organization
or in a project is that the idea of 3P is not an acceptable framework for measuring or
implementing them in project. Adding the environmental factors and the social factors in the 3 P
is really a challenging aspect in the business.
3Ps that are included in the business are difficult to quantify, and include management
conflicts. The company might include quantifiable aspects related to finance and that includes
earnings, costs, and revenues in the organizations (Miemczyk & Luzzini, 2019). The companies
that undertake the 3 P sustainability approach in their business process, there is a compliance
approach in the business.
Using the 3Ps sustainable approach in an organization, the organization becomes more
effective and becomes environmentally conscious and socially conscious about the activities they
carry out in the project. The business including 3Ps generate less pollution and all activities are
carried out keeping the environmental, social and financial factors for the organization (Hussain,
Rigoni, & Orij, 2018). The business undertaking 3ps evaluates effects for their actions on
environment, as well as social factors, and thus they become more efficient to make