Article: Beyond <i>triple bottom line</i>: 4Ps framework for the sustainability of the firms Journal: International Journal of Export Marketing (IJEXPORTM) 2021 Vol.4 No.4 pp.328 - 345 Abstract: The purpose of this paper is to go beyond the narrow conception of corporate social responsibility as a profit-generating mechanism to a shared value where the people, planet, profit, and plural sector (4Ps) guide us towards a sustainable firm. The literature review on the firm sustainability and the recent e-pamphlet published by <i>Henry Mintzberg</i>, this paper proposes the fourth 'P' called the plural sector to achieve firm sustainability at the firm level while Mintzberg's articulation was at the macro economics level. The plural sector represents civil society, non-governmental organisations, cooperatives, and human rights organisations. Managers and policymakers need to incorporate the civil society and broader public groups in making the firm sustainable in the long run apart from saving the planet, reducing poverty, and at the same time making an ethical profit. Based on this logic, this research argues for the stakeholder's value maximisation approach and derives implications beyond Elkington's triple bottom line - arguing plural sector as a watchdog to keep the society in balance in most of the countries and markets. Inderscience Publishers - linking academia, business and industry through research

Title: Beyond triple bottom line: 4Ps framework for the sustainability of the firms

Authors: Krishna Raj Bhandari; Ajay Thapa; Biranchi Poudyal; Lekhnath Bhattarai

Addresses: Department of Economics and Management, University of Helsinki, P.O. Box 27, Latokartanonkaari 5, FI-00014, Helsinki, Finland ' School of Development and Social Engineering, Faculty of Humanities and Social Sciences, Pokhara University, Pokhara Metropolitan City, Post Box No. 427, Kaski District, Gandaki Province, Nepal ' Pioneer Research Center Nepal (PRCN), Kapan-10, Kathmandu, Nepal ' Tribhuvan University, Prithvi Narayan Campus, Pokhara-1, Bimkalipatan, Gandaki Province, Nepal

Abstract: The purpose of this paper is to go beyond the narrow conception of corporate social responsibility as a profit-generating mechanism to a shared value where the people, planet, profit, and plural sector (4Ps) guide us towards a sustainable firm. The literature review on the firm sustainability and the recent e-pamphlet published by Henry Mintzberg, this paper proposes the fourth 'P' called the plural sector to achieve firm sustainability at the firm level while Mintzberg's articulation was at the macro economics level. The plural sector represents civil society, non-governmental organisations, cooperatives, and human rights organisations. Managers and policymakers need to incorporate the civil society and broader public groups in making the firm sustainable in the long run apart from saving the planet, reducing poverty, and at the same time making an ethical profit. Based on this logic, this research argues for the stakeholder's value maximisation approach and derives implications beyond Elkington's triple bottom line - arguing plural sector as a watchdog to keep the society in balance in most of the countries and markets.

Keywords: profit; people; planet; plural sector; firm sustainability.

DOI: 10.1504/IJEXPORTM.2021.122989

International Journal of Export Marketing, 2021 Vol.4 No.4, pp.328 - 345

Received: 18 Jul 2021
Accepted: 24 Dec 2021
Published online: 19 May 2022 *

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Title: Beyond triple bottom line: 4Ps framework for the sustainability of the firms

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