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Instructions of QSO 321 1-3 Assignment
1-3 Assignment: Triple Bottom Line Industry Comparison
Overview
In this module, you have learned about the benefits, drawbacks, and overall value of using the triple bottom line (TBL) in business. In this assignment, you will take a closer look at how strategies for incorporating this framework are similar and different across the manufacturing industry and the service industry.
Prompt
Imagine you are a sustainability consultant, and you’ve been asked to create a simple handout that clarifies the similarities and differences between strategies used to incorporate the TBL into the manufacturing industry and the service industry. The handout will be provided to individuals at large and small group trainings.
Specifically, you must address the following rubric criteria:
Similarities: Explain the similarities that exist between incorporating the TBL framework into both the service industry and the manufacturing industry, and why.
Differences: Explain the differences that exist between incorporating the TBL framework into the service industry and the manufacturing industry, and why.
Example Strategies: Provide an example of a strategy that is appropriate to use across both the service and the manufacturing industries, and provide an example that is specific to either the service or the manufacturing industry when considering people, planet, or profit through the TBL framework. Include a brief explanation of what each example demonstrates.
Guidelines for Submission
Submit this assignment as a 350- to 500-word Word document. Use the course resource or external resources to support your comparisons. Sources should be cited according to APA style.
Step-By-Step Guide QSO 321 1-3 Assignment: Triple Bottom Line Industry Comparison
Introduction to QSO 321 1-3 Assignment
In QSO 321 1-3 Assignment: Triple Bottom Line Industry Comparison, we will briefly explain Triple Bottom Line as a sustainability framework emphasizing equal importance on People, the Planet, and Profit. This QSO 321 How-to guide will help you efficiently do your assignment.
Similarities: Explain the similarities between incorporating the TBL framework into the service and manufacturing industries and why.
Similarities in TBL Application
After briefly introducing the QSO 321 1-3 Assignment: Triple Bottom Line Industry Comparison, we will discuss the similarities in TBL applications.
- Discuss how both industries aim to reduce waste, enhance community engagement, and improve environmental stewardship while remaining profitable.
- Highlight the importance of corporate social responsibility (CSR) programs that benefit employees and local communities as a common strategy.
Example
The manufacturing and service industries strive to minimize waste, engage with communities, and enhance environmental stewardship while maintaining profitability. Corporate Social Responsibility (Radzi et al., 2020) programs play a crucial role in this endeavor, focusing on improving the well-being of employees and the communities in which they operate, thus benefiting both sectors.
Differences in TBL Application
Let us discuss the differences in TBL applications.
- Explain how the manufacturing industry focuses more on environmental impacts due to its resource-intensive nature, while the service industry prioritizes social aspects like employee welfare and customer satisfaction.
- Point out the difference in measuring the environmental footprint, with manufacturing looking at production processes and service industries focusing on office operations and indirect activities.
Example
The manufacturing industry, being resource-intensive, concentrates more on mitigating environmental impacts, such as reducing emissions and managing waste effectively (Yang et al., 2023). In contrast, due to its less tangible environmental footprint, the service industry prioritizes social aspects, including employee welfare and customer satisfaction (Khalil et al., 2022). This leads to differing approaches in measuring environmental impacts, with manufacturing assessing direct production processes and service industries evaluating office operations and other indirect activities.
Example Strategies: Provide an example of a strategy appropriate for the service and the manufacturing industries and an example specific to either the service or the manufacturing industry when considering people, planet, or profit through the TBL framework. Include a brief explanation of what each example demonstrates.
Example Strategies
This section of QSO 321 1-3 Assignment: Triple Bottom Line Industry Comparison will provide examples for both Universal and Industry-specific strategies.
Universal Strategy Example
- A green procurement policy that applies to both sectors ensures sustainable, eco-friendly materials and services are purchased.
- Describe how this reduces the environmental impact and supports ethical labor practices, benefiting both the planet and people.
Industry-Specific Strategy Example
- Implementing a closed-loop recycling system to minimize waste and raw material usage.
- Introducing flexible working conditions to improve employee satisfaction and productivity.
- Discuss how each strategy specifically addresses the unique challenges and opportunities in the respective industries, demonstrating the application of TBL principles in different contexts.
Example
Universal Strategy Example
A green procurement policy is crucial for both sectors, advocating for acquiring sustainable, eco-friendly materials and services. This strategy aids in reducing environmental harm and supports fair labor practices, thus aligning with TBL’s goals (Lagnaoui, 2023)
Industry-Specific Strategy Example
For manufacturing, implementing a closed-loop recycling system addresses waste and resource usage, while in the service sector, flexible working conditions can boost employee satisfaction and productivity (Rachakatla & Garrepalli, 2024). These strategies cater to each industry’s unique challenges, demonstrating the versatile application of TBL principles.
Closing
By following QSO 321 1-3 Assignment: Triple Bottom Line Industry Comparison guide, students can comprehend and articulate how TBL similarities in service and manufacturing industry can be effectively tailored to the unique characteristics and demands of the manufacturing and service industries, supporting sustainable development across different sectors.
References
Khalil, N., Che Abdullah, S. N., Haron, S. N., & Hamid, M. Y. (2022). A review of green practices and initiatives from stakeholder’s perspectives towards sustainable hotel operations and performance impact. Journal of Facilities Management, ahead-of-print(ahead-of-print). https://doi.org/10.1108/JFM-03-2022-0025
Lagnaoui, T. (2023). CSR and Business Sustainability in the Finnish Textile Industry: A Path to a Sustainable Future [fi=AMK-opinnäytetyö|sv=YH-examensarbete|en=Bachelor’s thesis|]. http://www.theseus.fi/handle/10024/793524
Rachakatla, B., & Garrepalli, S. M. (2024). From Industry 4.0 to Industry 5.0. In Sustainability in Industry 5.0. CRC Press.
Radzi, N. A. M., Hezbollah, H. R., Normaizatul Akma, S., Hashim, H., & Ali, A. F. M. (2020). Wellness, Work, and Employee Assistance Programs as Part of CSR Initiatives among the Corporate Companies. https://doi.org/10.48080/jae.v17i4.378
Yang, M., Chen, L., Wang, J., Msigwa, G., Osman, A. I., Fawzy, S., Rooney, D. W., & Yap, P.-S. (2023). Circular economy strategies for combating climate change and other environmental issues. Environmental Chemistry Letters, 21(1), 55–80. https://doi.org/10.1007/s10311-022-01499-6
