Journal article
Spirituality as the fourth bottom line?
Futures, Vol.37(6), pp.573-579
2005
Abstract
In Australia, Westpac Bank recently issued an expanded approach to traditional accountability standards. They now measure their progress through three criteria: prosperity, social justice and environment. Their recent corporate report includes claims of ethical business, transparency, human rights, environmental concerns, caring for employees, and more. Suddenly the bottom line is not so simple—it has become the triple bottom line. Organizations have their own interests—profit, survival—but as well they live in a local and global community, and are increasingly being forced to become accountable to them. These demands by shareholder groups and social movements have led to the need for social justice and social measures. Organizations and communities live with and in a natural world, and believe that they have a responsibility towards planetary sustainability—environment is no longer something out there for others to solve, an economic externality, rather, it has become defining for the success of an organization, certainly for its public persona. Along with external issues (impact of company policy on the environment, ethical investing) have been internal issues (employee absenteeism, illness and the cost savings associated with having wellness-based organizations).
Details
- Title
- Spirituality as the fourth bottom line?
- Authors
- Sohail Inayatullah (Author) - University of the Sunshine Coast - Faculty of Arts and Social Sciences
- Publication details
- Futures, Vol.37(6), pp.573-579
- Publisher
- Pergamon
- Date published
- 2005
- DOI
- 10.1016/j.futures.2004.10.015
- ISSN
- 0016-3287
- Organisation Unit
- School of Social Sciences - Legacy; University of the Sunshine Coast, Queensland; Sustainability Research Cluster
- Language
- English
- Record Identifier
- 99448879402621
- Output Type
- Journal article
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