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Shell Oil Company鈥檚 motto 鈥淧eople, Planet and Profit鈥 is a real-world implementation of what OSCM concept?

Short Answer

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Shell Oil Company's motto is "People, Planet, and Profit," and it follows the Triple Bottom Line concept. The Triple Bottom Line is a three-dimensional accounting system that considers social, environmental, and financial performance.

Step by step solution

01

Introduction

The design, operation, and improvement of the systems that manufacture and distribute the firm's principal goods and services are known as operations and supply chain management (OSCM).

02

Analyze

The Triple Bottom Line is a three-dimensional accounting system that considers social, environmental, and financial performance. This is different from typical reporting frameworks in that it includes ecological (or environmental) and social indicators for which proper measurement methods may be difficult to determine. People, planet, and profits are sometimes termed as the Triple Bottom Line dimensions.

A social company managed as a non-profit that earns profits by offering possibilities for disabled persons who have been labeled "unemployable" to start up the business via recycling is an example of an organization targeting a triple bottom line. Profits are reinvested in the community by the organization. The social benefit is the reduction in society's welfare or disability expenditures, as well as the meaningful work of disadvantaged persons.

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