Developing a Business Sustainability Framework Based Upon the Triple Bottom Line Approach

The research objective is to develop and test a business sustainability framework (BS-framework) consisting of economic, social, and environmental dimensions and items. This study follows a quantitative research process based upon the results of a 5-year qualitative research process. Companies employing more than 100 employees were identified to take part in this study. A sample of 261 Norwegian companies was selected, achieving a response rate of 40.6 %. An exploratory factor analysis generated a 17-factor solution out of 20 dimensions originally identified from the 5-year qualitative research process indicating satisfactory convergent, discriminant, and nomological validity, as well as reliability of each dimension. The study proposes a BS-framework, and it concludes that the measurement metrics of the BS-framework developed and tested are valid and reliable. Suggestions for applications, research limitations, and further research are provided. The BS-framework is a second-order construct that companies may use to assess and monitor their sustainable business practices in the marketplace and society. It provides managerial structure and guidance in terms of the dimensions to be taken into consideration and also the items to measure each one of the dimensions of the BS-framework in the market and society. A principal contribution of this research is the empirically developed and tested BS-framework (a second-order construct), uniquely consisting of economic, social, and environmental dimensions and items. The BS-framework is furthermore based upon a first-order construct of the triple bottom line approach.