Use of Triple Bottom Line sustainability framework in rural wine entrepreneurship
UseWine” focuses on the application of the TBL principles as a sustainability vehicle for the Wine SMEs in the rural areas. It will develop SME and stakeholder leaders who will have the competencies to promote and implement this business model.
TBL is a business framework that incorporates three dimensions of performance: social, environmental and financial. This differs from traditional reporting frameworks as it includes ecological and social measures, which can be difficult to assign appropriate means of measurement. The TBL dimensions are also commonly called the 3Ps: people, planet and profits.
It is a tested model that requires leadership skills to be successfully implemented. Truly effective leaders are distinguished by a high degree of emotional intelligence, which includes self-awareness, self-regulation, motivation, empathy, and social skill. They are required to have determination, vision and the ability to communicate and influence others. TBL leaders believe that taking care of profits, people, and the planet are critical to corporate success, for the business viability and long term sustainability. Studies indicate that the three most critical individual leadership competencies necessary for adopting the TBL approach are long-term vision, effective communication, and powerful influence.
The objectives of “UseWine” are:
1. To assist Wine SMEs in establishing a sustainability strategy that will include environmental and social elements
2. To foster a TBL culture in Wine entrepreneurship
3. To create common strategy among the Wine SMEs, the local authorities and the social and environmental stakeholders applied through policies which support TBL
4. To develop leaders among the Wine SMEs and local authorities who will manage the TBL change
5. To establish performance indicators to measure the penetration of TBL principles in Wine entrepreneurship
1. local governments and authorities
2. Wine SMEs
3. social and environmental stakeholders
Profit should be the outcome and not the main focus of any business plan.Corporate social responsibility, is a very important issue which has to be taken into consideration.
Human Resources are the most valuable asset of every organisation.Investing in our people, has the highest return and sets solid foundations for our development.
Our Planet is our Home. Caring for our planet is no longer a choice but a necessity for our sustainability and development.