What is a TBL Strategy?
A triple bottom line (TBL) strategy is a business approach that takes into account the financial, social, and environmental impacts of business decisions. This balanced approach allows companies to achieve success in a sustainable and holistic way, and the TBL strategy template provides a framework for organizations to develop strategies that consider all three aspects of the TBL.
What's included in this TBL Strategy template?
- 3 focus areas
- 6 objectives
- 6 projects
- 6 KPIs
Each focus area has its own objectives, projects, and KPIs to ensure that the strategy is comprehensive and effective.
Who is the TBL Strategy template for?
The TBL strategy template is designed to help companies of all sizes develop strategies that consider their financial, social, and environmental impacts. This template allows organizations to set measurable targets and objectives, and provides a framework for implementing projects to achieve those goals.
1. Define clear examples of your focus areas
The first step in developing a TBL strategy is to define the focus areas. A focus area is a specific area of business that you want to improve, such as sustainability or social impact. It’s important to be specific when defining your focus areas so that you can create measurable targets and objectives. Examples of strategic focus areas that could fall under a TBL Strategy could be: Increase Sustainability, Increase Social Impact, and Increase Financial Performance.
2. Think about the objectives that could fall under that focus area
Once you’ve defined your focus areas, you need to set objectives that are related to those focus areas. Objectives are specific goals that you want to accomplish within a given focus area. Examples of some objectives for the focus area of Increase Sustainability could be: Reduce energy consumption, and Increase recycling.
3. Set measurable targets (KPIs) to tackle the objective
A key performance indicator (KPI) is a metric that you can use to measure whether or not an objective has been achieved. An example of a KPI for the focus area of Increase Sustainability could be: Decrease total energy consumption from 123 kWh/day to 87 kWh/day.
4. Implement related projects to achieve the KPIs
Once you’ve set measurable targets, you need to implement projects to achieve those targets. Projects are the actions that you take to reach your objectives, such as installing energy-efficient lighting or increasing employee training.
5. Utilize Cascade Strategy Execution Platform to see faster results from your strategy
Cascade’s Strategy Execution Platform is the perfect tool to help you achieve your strategic goals. Our platform provides a comprehensive suite of tools to help you create and track your strategies, set and monitor KPIs, and access real-time data to make informed decisions.