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The CEO of BEEKAY Company, a listed mining company, is indiscussing with the Chairman whether or not the company shouldadopt a triple bottom line (TBL) reporting system in order todemonstrate BEEKAY Company's level of sustainable development.BEEKAY Company's competitors are increasingly adopting TBLreporting and the Chairman feels that it would be beneficial tofollow suit. The CEO, on the other hand, feels that pursuing TBLreporting would be expensive and is not necessary.

Required

(a) Explain what TBL reporting involves and how it would helpdemonstrate BEEKAY Company’s sustainable development. Support yourexplanation by including examples of proxies that can be used toindicate the impact of the factors that would be included in a TBLreport.

(b) Discuss how producing a TBL report may help BEEKAYCompany's management focus on improving the financial position ofthe company. Illustrate the discussion with examples whereappropriate.

(c) DANDEE is a large region with a rugged, beautifulcoastline where rare birds have recently settled on undisturbedcliffs. However, today, many communities in DANDEE suffer highunemployment. Government initiatives for regeneration throughtourism have met with little success as the area has poor roadnetworks, unsightly derelict buildings and dirty beaches and hasdiscovered substantial tin reserves in DANDEE. With new technology,mining could be profitable, provide jobs and boost the economy. Anumber of interest and pressure groups have, however, been vocal inopposing the scheme including wildlife protection representatives,villagers worried about the potential increase in trafficcongestion and noise, environmentalists, and anti-capitalismgroups.

Required

Explain the conflicts between the main stakeholder groups inthis scenario and discuss how the conflicts could beresolved.