Back to Blog Posts

Triple Bottom Line

“I once cynically viewed social or environmental impact as a check-the-box task for HR manuals, annual reports or website marketing,” said Mario Paysse of FloWater, but now “it translates into a financial strategy opportunity, not simply a financial trade-off.”

For many large companies, sustainability was viewed as an ancillary project simply to abide by growing consumer sentiment, shareholder demands, and/or legislative requirements. 

Nowadays, Corporate Social Responsibility (CSR) has become embedded in the core values of many companies across a broad spectrum of industries. 

CSR is a business model in which for-profit companies create social and environmental benefits and impacts while driving their organization’s objectives

This model has been coined the triple bottom line - a focus on people, planet, and profit

Implementing sustainable business practices has become a win-win-win, especially in driving growth in the foodservice industry.

Learning about a company's products, processes (in manufacturing, packaging, and freight), and environmental goals has become easier than ever before as consumers have more access to information in the digital age. 

How can implementing CSR initiatives benefit your operations? 

  1. Labor - Attracting and retaining employees has become a critical component in keeping the doors open for many businesses. In a post-pandemic world, many have chosen to leave their current jobs, and CSR has become a major consideration in the decision-making process.
  1. Supply - Sustainability has driven innovation as companies look to improve both operationally and commercially. In industries such as foodservice, redefining supply-chain partners and sourcing strategies has eased shortages and disruptions, all while driving value to customers. 
  1. Demand - Consumer engagement is directly related to brand equity, which has become apparent in the purchasing behaviors of Millennial and Gen Z demographics. By investing in sustainability, you can build a loyal following while attracting new audiences, gaining a competitive advantage in your market.

As supply-chains are rebuilt on sustainability, education is key when it comes to implementing the right strategies and investing in the right solutions.

Resources such as StrawFish’s ToolKit are available to help your team navigate greenwashing and source responsibly (did I mention this resource is FREE!). 

Like this post? Let us know at info@strawfish.co or @Strawfish.co