The CEO of BEEKAY Company, a listed mining company, is in
discussing with the Chairman whether or not the company should
adopt a triple bottom line (TBL) reporting system in order to
demonstrate BEEKAY Company's level of sustainable development.
BEEKAY Company's competitors are increasingly adopting TBL
reporting and the Chairman feels that it would be beneficial to
follow suit. The CEO, on the other hand, feels that pursuing TBL
reporting would be expensive and is not necessary.
Required
(a) Explain what TBL reporting involves and how it would help
demonstrate BEEKAY Company’s sustainable development. Support your
explanation by including examples of proxies that can be used to
indicate the impact of the factors that would be included in a TBL
report.
(b) Discuss how producing a TBL report may help BEEKAY
Company's management focus on improving the financial position of
the company. Illustrate the discussion with examples where
appropriate.
(c) DANDEE is a large region with a rugged, beautiful
coastline where rare birds have recently settled on undisturbed
cliffs. However, today, many communities in DANDEE suffer high
unemployment. Government initiatives for regeneration through
tourism have met with little success as the area has poor road
networks, unsightly derelict buildings and dirty beaches and has
discovered substantial tin reserves in DANDEE. With new technology,
mining could be profitable, provide jobs and boost the economy. A
number of interest and pressure groups have, however, been vocal in
opposing the scheme including wildlife protection representatives,
villagers worried about the potential increase in traffic
congestion and noise, environmentalists, and anti-capitalism
groups.
Required
Explain the conflicts between the main stakeholder groups in
this scenario and discuss how the conflicts could be
resolved.