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Explain how use of the triple bottom line (TBL) framework theory and CSR could have led BP to make different decisions and avoid the disaster.
- Explain how use of the triple bottom line (TBL) framework theory and CSR could have led BP to make different decisions and avoid the disaster. What would have been the corporate considerations and decision making process?
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The triple bottom line TBL framework is an approach to business that takes into account not just financial performance but also social and environmental impacts Corporate Social Responsibility CSR refers to a companys commitment to operating ethically and contributing to sustainable development In the case of BP and the Deepwater Horizon disaster the use of the TBL framework and CSR could have led BP to make different decisions and avoid the disaster by considering the following corporate considerations and decisionmaking process 1 Environmental Sustainability Using the TBL framework BP would have prioritized environmental sustainability and taken measures to prevent or minimize the impact of potential disasters This could have included stricter safety protocols regular maintenance of equipment and robust emergency response plans 2 Stakeholder Engagement By engaging with stakeholders including local communities environmental organizations and government agencies BP could have gained valuable insights and feedback This engagement would have provided a better understanding of the potential risks and allowed for more informed decisionmaking 3 Ethical Responsibility CSR requires companies to act ethically and responsibly towards society and the environment ...
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Managing Operations Across the Supply Chain
Authors: Morgan Swink, Steven Melnyk, Bixby Cooper, Janet Hartley
2nd edition
9780077535063, 007802403X, 77535065, 978-0078024030
