Which phrase best describes the triple bottom line approach?

The phrase "people, planet, profit" encapsulates the triple bottom line approach, which emphasizes the interconnectedness of social, environmental, and economic aspects in business practices. This concept advocates that organizations should measure their success not only by traditional financial metrics (profit) but also by their impact on society (people) and the environment (planet).

The "people" component focuses on social equity, ensuring that businesses operate in ways that positively affect the communities they serve, including fair labor practices and community engagement. The "planet" aspect stresses environmental stewardship, encouraging sustainability and minimal ecological impact in operations. Finally, "profit" remains an essential measure, indicating that businesses must still operate profitably to survive.

In contrast, the other options focus on different themes that do not encapsulate the triple bottom line approach comprehensively. While sustainability and efficiency are important, they do not directly represent the broader social and environmental goals alongside economic success. Similarly, growth, equity, regulation, and innovation, development, responsibility address various business concerns but do not collectively reflect the foundational principles of the triple bottom line framework.