What concept combines economic, social, and ecological concerns to promote sustainability in strategy?

The concept that combines economic, social, and ecological concerns to promote sustainability in strategy is known as the triple bottom line. This framework emphasizes that businesses should focus not only on financial performance but also on their impact on people and the planet. By integrating these three dimensions—often referred to as "people, planet, and profits"—organizations can create strategies that lead to sustainable development.

The triple bottom line encourages organizations to measure and report their performance across all three areas, which helps in making informed decisions that balance profitability with social responsibility and environmental stewardship. This holistic approach to strategy enables companies to address stakeholder expectations and contribute positively to society while also securing long-term viability.

In contrast, strategic alignment focuses primarily on ensuring that an organization's strategy is in line with its objectives and capabilities, whereas market diversification and product differentiation are tactical approaches aimed at enhancing competitiveness and market presence without necessarily integrating sustainability into the core of business strategy.