U7 Flashcards
(159 cards)
1
Q
The history of sustainability traces back to the Industrial Revolution, where workers fought for?
A
decent work conditions.
2
Q
The increasing industrialization led to?
A
a growth of national wealth and public consumption.
3
Q
While this growth was positive in economic terms, society realized that too much consumption also creates problems, e.g.,?
A
related to the depletion of resources, environmental pollution, and negative effects on health due to bad working conditions.
4
Q
Society realized that actions to save the planet were needed :
A
=“Consumption and production drive the global economy,
=but also wreak havoc on planetary health through the unsustainable use of natural resources.
5
Q
The global material footprint is increasing faster than?
A
population growth and economic output”
6
Q
Every year, many corporations, governments, families, and individual consumers spend large sums of money on both necessary and unnecessary items. Traditional marketers build relationships with consumers to?
A
generate loyal customers who continue to consume without regard for the environment.
7
Q
Businesses have now realized that they cannot continue like this and that they need to?
A
address the issue of sustainability.
8
Q
Sustainability
A
According to Audi (2009), “a business or business activity (indeed any activity) may be called sustainable if, functioning roughly as it does, it can continue indefinitely”
9
Q
This unit provides a brief overview of the role sustainability plays in the business context, starting with?
A
an introduction into the triple bottom line and continuing with an investigation of obligations and opportunities.
10
Q
Many sources cite the ————-United Nations Conference in ————–as the birth of sustainability, along with the United Nations World Commission on Environment and Development (also known as the ————————————-) established in ———–.
A
1972
Sweden
Brundtland Commission
1987
11
Q
The Brundtland Commission published Our Common Future, where they laid out three interconnected variables that must be?
A
balanced to avoid conflicts:
“the natural environment, human social wellbeing, and economic activity”
12
Q
The Brundtland Commission reported the following key findings:
A
1-Economics, environment, and society are inextricably linked.
2-Damage to the environment also damages the economy and society.
3-Resources are finite, and the environment is not infinitely repairable.
13
Q
These three criteria have been known as ?
A
the pillars of sustainable development.
14
Q
They form the foundation of the concept eventually termed the—————————— (TBL) by————————————–:
A
triple bottom line
John Elkington
15
Q
The three primary elements of sustainability are:
A
an organization’s environmental,
social,
and net economic impact
16
Q
In ——————————————– proposed a triple goal, the 3Ps toward true sustainability.
A
1997, Elkington
17
Q
The 3Ps stand for?
A
people, planet, and profit,
developing their strategies since they are all equally important, beyond financial rewards
18
Q
as shown in the figure below.
Zero waste engineering
A
This is a concept which theoretically increases productivity to infinity because every product or component could be re-used or recycled and no waste would result
19
Q
According to this concept, firms should consider the three categories when?
A
developing their strategies since they are all equally important, beyond financial rewards.
20
Q
Engineers also focused on ?
The environment was considered to be indefinitely repairable and self-healing; if it wasn’t, technology would provide a solution
A
the economic aspect of infrastructure projects in the “old days,”
i.e., whether the project was technically and commercially viable.
21
Q
The application of the TBL encourages a holistic view of ?
A
sustainable development.
22
Q
The idea of sustainable development was a paradigm shift in?
A
thinking.
23
Q
Before ———————–, many people, including engineers, viewed natural resources as though they were ————————— for all practical purposes. When one resource was depleted, one simply moved on to another.
A
Brundtland
inexhaustible
24
Q
Twenty-five years after the introduction of the TBL, the concept is still relevant but?
A
there are doubts about its adaptation.
25
Elkinson himself proposed that?
the framework had failed because it has not always been applied correctly.
26
Many firms have only looked at:
the economic
and either the environmental or social aspects
27
Loviscek (2021) suggests that the dimensions should be?
specified so that the application of the three categories of sustainability becomes easier for firms.
28
The environmental component of the TBL is concerned with?
the preservation of natural resources and the natural environment’s long-term well-being.
29
After Brundtland, people began to understand that?
natural resources and carrying capacity were limited.
30
However, in many regions of the world, including most North American cities, where citizens can see plenty of land, bright sky, and pure water, the idea of limited carrying capacity was difficult to?
understand in real, physical terms.
31
According to Kelly et al. the researchers Wackernagel and Rees created the term?
“ecological footprint” in 1996 to bring the issue closer to home.
32
Ecological footprint
This is the “demand of the population on nature”
33
They discovered that the average individual in North America consumes ---------------times their ----------------------------” of the planet’s natural resources, implying that present consumption levels are unsustainable.
four to six
“fair share
34
The ecological footprint can be divided into?
the demand for natural resources for the production of goods and the demand on natural resources for the consumption of products.
35
In this context, we must recognize the needs of the earth and be mindful that?
the resources are not abused because they are limited.
36
No matter how much technology is available, the human species cannot live for long without sufficient clean air and water. This serves as a stark reminder of the interconnections between?
the environment, economy, and quality of life.
37
One major challenge is managing resources ?
fairly across nations and across generations.
38
At the firm level, environmental protection is a?
morally appealing goal that also benefits most firmsʼ long-term economic interests.
39
The social dimension encompasses broad societal concerns, such as:
social fairness,
ethics,
community connections,
and individual well-being.
40
Society cannot continue to think that humankind will exist eternally, with technological advancements eventually compensating for?
depleting resources.
41
An intergenerational justice principle should be?
the guideline:
42
“Businesses and other users of natural resources have an obligation to gauge their uses so that, ?
given reasonably expected changes in technology and population, future generations can live as well as the current generation”
43
Sustainability relates to internal and external managerial responsibilities that affect ?
the environment and a company’s management.
44
The specific way and extent to which companies connect with their stakeholders---------------------------------------------------------------------------------------) will vary depending on the context.
(shareholders, workers, and community members
45
For the firm, sustainability can be critical to leaving a lasting legacy, such as?
contributing to humanity’s needs throughout time.
46
For employees, sustainability can make employment -----------------. Employees spend a lot of their life at work and should be confident that these companies will ------------------------------.
meaningful
exist for a long time
47
In addition, it is essential that employees who work for a firm long-term have the impression of doing
?
important, fulfilling work .
48
People’s jobs in business will not be perceived as significant and useful unless they are perceived as?
serving a valuable purpose
49
The economic component is concerned with?
society’s economic well-being.
50
Most renowned firms’ mission statements show
-----------of long-term sustainability. Businesses often strive to have a clear ------------------------------worth supporting. The question investors ask themselves is whether they would---------------money in the firm or whether the bank would
---------such a company money.
a goal to
purpose and objectives
invest
lend
51
Management should strive for?
numerous investors may have long-term interests that span a half-century or more. In addition, investors with children are typically dissatisfied with a firm they invest in unless they believe it has a future, because stock is passed down from the buyer to the next generation in the family (Audi, 2009, p. 46). Thus, firms have an interest in displaying their sustainability initiatives to attract investors.
long-term sustainability that extends well beyond its own time.
52
For example,?
numerous investors may have long-term interests that span a half-century or more.
In addition, investors with children are typically dissatisfied with a firm they invest in unless they believe it has a future, because stock is passed down from the buyer to the next generation in the family.
Thus, firms have an interest in displaying their sustainability initiatives to attract investors.
53
Today, many businesses use the Global Reporting Initiative (GRI) guidance, called ---------------------to?
GRI 2016,
disclose their triple bottom line performance
54
The GRI Standards are updated regularly to ensure that?
they represent worldwide best practices for sustainability reporting and to assist companies in responding to new information requests from stakeholders and authorities.
55
The GRI provides its standards for?
anyone for free on the internet
56
Besides the GRI, other platforms and indexes were also introduced to?
confusion and an excuse for inaction for firms and investors.
facilitate sustainable investment, like Dow Jones Sustainability Indexes or Full Cost Accounting.
57
Because these are so heterogeneous, however, they have resulted in?
confusion and an excuse for inaction for firms and investors.
58
Before discussing a firm’s obligations and opportunities in terms of corporate sustainability, it is necessary to delineate the concept of ?
corporate sustainability from the concept called corporate social responsibility (CSR).
59
The terms are often used interchangeably in the literature, leading to ?
confusion.
60
The definition of CSR differs greatly depending on?
the source consulted.
61
In the ------------, it was closely linked to corporate philanthropy, the idea of ----------------------------------, but was often closely linked to the philanthropy of the ----------------------------------------- and not of the company as a whole.
1960s
giving back to society
corporate founder
62
In the literature, there is no uniform definition of ?
the term CSR
63
there are two types of interpretations:
-If the term “social” is interpreted as meaning social, then only the social responsibility of a company applies at this point.
-If the term “social” is interpreted to mean societal, then ecological and economic responsibility are included in addition to social responsibility
64
The most widely used definition is that?
of the European Commission.
65
It is rather short and defines CSR as a?
firm’s “responsibility for their impact on society”.
66
According to the Commission, this brief definition includes:
compliance with legislation and with the collective agreements between social partners.
67
For a better integration of corporate social responsibility in the company’s policies and operations, they must create a strategy for the integration of?
social,
environmental,
and ethical concerns regarding human and consumer rights in close cooperation with stakeholders.
68
All these will be accomplished to maximize value creation for? and to?
shareholders,
other stakeholders,
and the rest of society;
and to identify, prevent, and mitigate the possible adverse impact.
69
The European Commission believes that firms may contribute to sustainable development and the establishment of ?
a highly competitive economy by engaging in CSR.
70
CSR thus often takes a retrospective perspective and reports on?
what the firm has done in the past months and its compliance.
It targets decision-makers and the media.
71
Sustainability, in contrast, is ----------------and targets the whole -----------------------------, from suppliers to customers. Its aim is to secure the business in the ------------------------- by creating future opportunities.
visionary
value chain
long run
72
The term corporate sustainability (CS) aims to:
safeguard a company’s social,
economic,
and ecological capital in the long term.
73
Companies are characterized by the generation of?
economic,
ecological,
and social values.
74
While sustainability management encompasses both ----------------------------- activities, the core of the CSR concept relates to the:
voluntary and involuntary
voluntary,
ecological,
and social activities of a company
and can thus be understood as a sub-area of corporate sustainability.
75
In recent years, the use of the term “corporate responsibility” has also become common in the practice of many companies, which is intended to?
the negative image function
represent a general social responsibility on the part of the company.
76
The removal of the word “social” has to do with?
the negative image function
77
To ensure the long-term success of the company, it is necessary to?
gain the trust of the stakeholders.
78
To this end, it is necessary to integrate the concept of social commitment as a?
strategic instrument into the existing corporate management
79
The term CSR is seen here more as?
“the companies’ (more moral) obligation to protect and improve the state of society, both now and in the future through social actions, ensuring fair and sustainable outcomes for the various stakeholders involved”
80
The emphasis is on?
the moral and more voluntary will to improve society.
81
In comparison to CSR, corporate sustainability (CS) conceptualizations and considerations-----------------------------------------------------.
emerged later.
82
During the early ---------------------- ideas and concerns about sustainability—at least from an environmental and ecological standpoint—has gradually earned a position in American public --------------------------------------------------.
1960s,
awareness and social criticism.
83
Businesses are very powerful organizations on the planet, and they have become an increasingly dominating social institution, becoming involved in ?
economic, environmental, and social concerns.
By collaborating for sustainability, they may go beyond business as usual and make a public commitment to help society.
84
Sustainability in its broadest sense requires
------------------accountability. In this context, this means that firms have obligations and should use
------------------- to become or act sustainably.
personal
market opportunities
85
There are two options for sustainable firms.
1-Either the firm is sustainable right from the beginning, e.g., with sustainability in mind,
2- or firms have decided pursue more sustainable business practices.
86
Entrepreneur
This is a person who starts a business.
87
“Entrepreneurship” describes the process of starting a firm from the--------------------, and
------------- are the people who go through this process and risk failure.
ground up
entrepreneurs
88
Every business has a reason for existing, and that reason guides its?
course.
89
An entrepreneur:
-looks for new business opportunities
-and addresses market issues.
90
It may be difficult to identify a common set of entrepreneur traits, but it is clear that?
these individuals have a lot of energy and passion, as well as an inventive mindset.
91
The sort of entrepreneurship (for example,------------------------------------------------------) is determined by the emphasis of these ideas .
social or green entrepreneurship
92
Entrepreneurs, who are particularly keen on creating environmental value are also called
--------------------------, e.g., if they focus on clean technology.
ecopreneurs
93
If the focus of the entrepreneurs is on creating social value, they are also called social entrepreneurs and focus on?
issues like health,
education,
or community development.
94
image
95
As shown in the diagram above, sustainability entrepreneurship requires a balance of economic, social, and environmental goals.
96
Sustainability entrepreneurs solve social or ecological problems, while being?
pioneers in their industry and monitoring economic development.
97
Sustainability entrepreneurs are those who are?
“transforming an industry to support sustainable development”
98
Sustainable firms should continually look for areas where?
they can innovate in terms of sustainability and make the required changes.
99
While doing so, the firm needs sustainability
----------, in addition to the -------------------of its people.
leaders
creativity
100
As a result, sustainability innovation is not a problem that can be treated in isolation, and all connected aspects in the business must be?
maintained for a successful sustainability innovation process.
101
Increasing the number of sustainability entrepreneurs is critical for?
our future, notwithstanding the difficulty of the task.
102
Another approach to achieve sustainable development goals, in addition to establishing sustainability entrepreneurships, is to?
“turn existing firms and industries into sustainable enterprises and industries”
103
The UN has developed sustainable development goals to help?
businesses become sustainable enterprises.
104
The Sustainable Development Goals (SDGs) have been described as?
the most comprehensive agreement ever reached on social and environmental issues.
105
They express a common vision for a?
.
just,
secure,
and sustainable future for humanity
106
The SDGs were created in 2015 as part of the United Nationsʼ ------------------ Agenda to drive sustainability decisions with the goal of influencing -------------- and leveraging ---------------------- to put the world on a path of peace, prosperity, and opportunity for all on a healthy planet.
2030
politics
financial resources
107
To ensure human rights of everyone, the ------------- demand a reform of the financial, economic, and political institutions that govern ------------------- today.
17 SDGs
society
108
The UN specified the following goals.
109
Table
110
Companies play a key role in attaining the ----------. While the SDGs may be viewed as an opportunity for businesses to demonstrate how they can contribute to ---------------------------------, they can also be used to create --------------------------alliances and positioning.
SGDs
sustainable development
strategic
111
For companies to truly engage and contribute to the SDGs, business as usual must ?
change.
112
Firms must not only see the SDGs as an economic opportunity, but also as?
a way to fulfill their social obligations
113
the SDGs provide a possible chance for ?
governments to reclaim their fundamental duty and role in society,
not just through moral principles,
markets,
and basic institutions,
as previously stated.
114
Despite their noble intentions, the SDGs require?
substantial reforms in every nation, as well as massive efforts to measure and monitor success.
115
The SDGs appear to be lacking in agency, with few responsibilities:
imposed on governments
and none imposed on enterprises or consumers.
116
Still, many multinational businesses have begun to report on and communicate about ?
the relevance of their activities to the SDG
117
Many member states acknowledged at the SDG Summit in September 2019 that global efforts to date have been insufficient to achieve?
the necessary transformation, putting the Agenda’s promise to current and future generations in danger.
118
The goal achievement in meeting the SDGs is documented annually in?
the United Nations Development report
119
There are several options for firms to measure their sustainability performance besides linking it to the SDGs, e.g., ?
by introducing an environmental management system,
by practicing total quality environmental management,
or by using a sustainability balanced scorecard (SBSC).
120
One way for a firm to improve it environmental performance is?
the introduction of an environmental management system (EMS).
121
This is “a series of systematic actions of an organization to ?
manage and increase environmental performance”
122
The PDCA (plan-do-check-act) cycle is used to?
create an EMS,
a planning
and execution tool.
123
An environmental management system can be implemented:
formally (certified)
or informally (non-certified)
in an organization, depending on the preferences of the company.
124
The EMS can be accredited, e.g., ?
an Eco-Management
and Audit Scheme (EMAS) or using ISO 14001.
This procedure follows a set of phases.
125
The EMS can also be applied informally without?
certification.
126
This process is more flexible and management decides on?
its own plan and implementation within the organization.
127
Firms with EMS may practice--------------------------------------------------------------------(TQEM), which is a technique for ensuring long-term -------------------------developed from total --------------------management (TQM).
total quality environmental management
sustainability
quality
128
TQM is a?
management concept centered on including everyone in the process (from the top to the bottom of the organizational structure;
129
The SBSC is based on?
The SBSC either adds the “Sustainability Perspective” as a fifth dimension of indicators or it includes sustainability performance indicators to the current balanced scorecard perspectives
the standard balanced scorecard,
which was developed by Harvard professors Kaplan and Norton
in the early 1990s.
130
Where a traditional performance management tool only considers?
financial performance indicators,
131
the balanced scorecard method considers other indicators that support financial results (such as?
-customer satisfaction,
- internal processes,
-innovation,
-and learning performance indicators)
because these aspects are interrelated for the success of organizations.
132
The SBSC is a powerful instrument for ?
ensuring organizational sustainability.
133
Any sustainability initiative that is related to the ----------------------------------------and strategy will be more effective. Because the indicators in SBSC are developed based on the business direction and strategy, the organization has a better chance of achieving its sustainability goals
companyʼs direction (mission and vision)
134
Any sustainability initiative that is related to the companyʼs direction (mission and vision) and strategy will be more effective?
Because the indicators in SBSC are developed based on the business direction and strategy,
the organization has a better chance of achieving its sustainability goals.
135
Consumers also have the obligation and decisive power to ?
change their consumption.
136
Some consumers, but not all, have grasped the significance of ?
sustainable consumption and consumption reduction for the planet’s future.
137
Many natural resources on the planet are diminishing, and consumers are becoming increasingly concerned about ?
the repercussions of a hedonistic lifestyle.
138
The diagram below shows that a sustainable society requires both?
sustainable production and consumption;
139
sustainable consumption cannot occur if the products are not---------------------------------------------------.
produced sustainably
140
In addition, if people do not consume sustainably, manufacturers will not?
sell their sustainably produced products.
141
The responsibility in creating a sustainable society thus lies with?
both the consumer and the producer.
142
image
143
Many consumers across the world have already adopted sustainable consumption practices, such as ?
not consuming beyond self-sufficiency, consuming less, or making more responsible purchasing decisions.
144
According to the UN Sustainable Development Goals report, advances in resource efficiency made by ?
certain nations are countered by resource usage in other countries.
145
To decrease environmental strain and effect, the study recommends that we?
“lower our dependency on raw materials and boost recycling and ‘circular economyʼ approaches”
146
Consumers have learned that twenty-first century manufacturing and consumption techniques are among the leading sources of?
pollution and resource depreciation.
147
As a result, many individuals reuse or shop -------------------------- to decrease their environmental impact .
secondhand
148
Society understands that too much consumption causes difficulties, such as?
-resource depletion,
-destruction of the environment,
-and socioeconomic problems.
149
Businesses have realized that they can no longer operate in the same way and must address the problem of sustainability.
The work of the ---------United Nations World Commission on Environment and Development (the Brundtland Commission) is considered the starting point of?
1987
sustainability.
150
Based on this work, ------------------------ proposed three primary elements of sustainability in organizations: The people (human social well-being), planet (natural environment), and profit (economic activity) are interconnected variables that must be
Elkinson
151
Based on this work, Elkinson proposed three primary elements of sustainability in organizations:
=The people (human social well-being),
= planet (natural environment),
=and profit (economic activity) are interconnected variables
152
The people (human social well-being), planet (natural environment), and profit (economic activity) are interconnected variables that must be?
balanced to avoid conflicts. These three elements are also referred to as the triple bottom line.
153
Sustainable development demands the collaboration of ?
all participants in society, and companies are one of the most important players.
154
Enterprises must either be created as a sustainable entrepreneurship or turned into ?
sustainable businesses to support sustainable development goals.
155
Nations --------------- Agenda for Sustainable Development established the ------- Sustainable Development Goals with the objective of influencing politics and leveraging financial resources to enhance ---------------------------------------------------------- for all on a healthy planet.
2030
17
peace, prosperity, and opportunity
156
Sustainability leaders are responsible for?
Each person in the organization should believe in the process and act appropriately.
1-using the right sustainability management tools,
2-creating the required circumstances (i.e., a sustainability culture),
3-and promoting innovation for enhanced sustainability performance.
157
A successful sustainable business requires?
a methodical
and collaborative
effort from all levels of the organization.
158
The sustainable balanced scorecard is a useful tool for?
guaranteeing the long-term viability of a business.
159
Customers could also take?
a more proactive role
and consume less or more responsibly.
