Application of Triple Bottom Line Approach in Smes to Improve Quality of Human Life

Abstract

Sustainable development is a road map, an action plan, for achieving sustainability in any activity that uses resources and where immediate and intergenerational replication is demanded. As such, sustainable development is the organizing principle for sustaining finite resources necessary to provide for the needs of future generations of life on the earth. It is the process that envisions a desirable future state for human societies in which living conditions and resource-use continue to meet human needs without undermining the " integrity, stability, and beauty" of natural biotic systems. According to M. Hasna (2007), sustainability is a function of social, economic, technological and ecological themes. Sustainable development ties together concern for the carrying capacity of natural systems with the social, political, and economic challenges faced by humanity. Corporate sustainability is of utmost important for the survival of organizations and their future generations. To cope up with the globalised challenges, corporate all around the globe should apply a corporate sustainability plan by addressing their TRIPLE BOTTOM LINE which includes paying close attention to their social (human factors),environmental (risk and requirement factors),economic (financial factors) issues. Very few domestic studies on this issue are conducted, and creating a theory system about this issue has important practical significance. In order to provide some guidance on the sustainable development and introducing the concept of TRIPLE BOTTOM LINE and its relation with environment and improving the quality of human life the researcher has under taken this proposed study. The researcher will try to put forward the improvement, suggestions etc. The researcher will focus on objectives like Concept of sustainable development, Concept of Triple bottom line, the need for implicating Triple bottom line in Small Medium enterprise etc.The researcher has selected the descriptive study. The data collection will be based on primary as well as secondary. The researcher will use required tool and techniques of analysis and interpret the finding.