Sustainable Commerce Flashcards
To memorise (6 cards)
The definition of Sustainable Commerce based on the Brundtland Report (1987) is…
Sustainable development is development that meets the needs of the present without compromising the ability of future generations to meet their own needs
In CMCE1001 they suggest Sustainable Commerce is…
doing business in a way that meets the present needs of the organisation, its shareholders, and stakeholders without
compromising its ability to continue to meet those needs in the future.
What is Elkington’s theory (2004) about sustainable commerce called, and what 3 impact areas he say must be considered?
Theory: Triple Bottom Line
The Three impact areas:
* People: Social impact
* Planet: Environmental impact
* Profit: Economic (or financial) impact
What is social sustainability?
It is Managing the relationships an organization has with the people and institutions in the communities where it operates with a view to the long-term. This includes issues around of diversity, equity, quality of life and social cohesion.
What is environmental sustainability?
It is Managing the resources used by an organisation to ensure the long-term well-being of the environment. This includes reducing negative environmental impacts, and promoting practices that contribute to the preservation and improvement of the natural ecosystem.
What is economic sustainability?
It is Managing the resources used by an organisation to ensure it can continue to generate value in the long-term.
