week 10 Flashcards
(11 cards)
Why is sustainability becoming essential for organisations?
Due to rising consumer awareness, global environmental challenges, and ethical expectations, sustainability has become key for brand reputation, competitive advantage, and long-term success.
What evidence supports the rise of conscious consumption?
- 1 in 3 UK consumers care about where products come from
* 74% would pay 5% more for ethically produced clothing * Millennials are most willing to spend on sustainable goods
What are the UN Sustainable Development Goals (SDGs)?
- 17 global goals adopted in 2015 to be achieved by 2030
* Address economic, social, and environmental sustainability * Provide a framework for businesses to align with global needs
What is Life Cycle Analysis (LCA)?
A method for assessing the environmental impact of a product across its entire life cycle: raw materials, manufacturing, packaging, distribution, use, and disposal.
How does Coca-Cola illustrate Life Cycle Analysis?
- Mining aluminium = environmental damage
* Manufacturing = high energy/water use * Distribution = emissions * Disposal = recyclable but not always recycled
What are components of a sustainable business strategy?
- Ethical product design
* Profit reinvestment in social/environmental causes * Honest communication * Market segmentation * Environmental systems & cradle-to-grave products * Anticipating future stakeholder needs
What are the three pillars of sustainable marketing?
- Value-driven – Align with consumer values
2. Social-conscious – Demonstrate ethical responsibility 3. Mission-driven – Align business purpose with global good
How does Patagonia implement sustainable marketing?
- Uses recycled/organic materials
* Donates 1% of sales to environmental causes * Transparent supply chain * Mission: “We’re in business to save our home planet”
What is B Corporation certification?
A certification for businesses that meet high standards of social and environmental performance, accountability, and transparency — making them a force for good.
What is the degrowth movement?
A strategy to reduce energy and resource use in order to rebalance the economy with nature, reduce inequality, and improve well-being (Hickel, 2020).
What are real-world examples of degrowth in practice?
- Copenhagen & Amsterdam: Cycling over cars
* Repair cafés: Reduce waste * Shorter workweeks: Improve quality of life * Renewables: Lower emissions * TOAST & Hiut Denim Co.: Durable, slow fashion products