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Tendencias > 2SOCIAL AND ENVIRONMENTAL SUSTAINABILITY. RESPONSIBLE CONSUMPTION AND CORPORATE RESPONSIBILITY (CSR) > Flashcards

2SOCIAL AND ENVIRONMENTAL SUSTAINABILITY. RESPONSIBLE CONSUMPTION AND CORPORATE RESPONSIBILITY (CSR) Flashcards

1
Q

Is value the tangible difference between costs of inputs and products?

A

No, value includes aspirational and sentimental aspects, not just economic factors.

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2
Q

Is value an objective parameter?

A

No, value is subjective and varies among different customers.

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3
Q

Can value always be monetized as an economic parameter?

A

No, value can include sentimental aspects that are not easily monetized.

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4
Q

Do producers receive a price equivalent to the value they create?

A

No, producers often do not get a price that fully reflects the value created.

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5
Q

Are fashion customers willing to pay a price equivalent to the value they receive?

A

No, customers often pay less than the perceived value of the product.

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6
Q

What is the difference between value and price?

A

Value is the perceived benefit to the customer, while price is the monetary amount charged for the product.

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7
Q

What is the value chain?

A

A tool for disaggregating a company into its strategically relevant activities to focus on competitive advantage sources.

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8
Q

What does each step in the value chain need to do?

A

Add some increment of value to the finished product or service.

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9
Q

What is the goal of analyzing a value chain?

A

To identify activities that result in higher prices or lower costs.

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10
Q

What is a value system?

A

It includes companies upstream (suppliers of raw materials) and downstream (distribution channels to customers).

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11
Q

What is the margin formula in the value chain context?

A

Margin = Price - Cost

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12
Q

What constitutes value to end customers?

A

The perceived benefits of a product divided by the perceived sacrifices of buying it.

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13
Q

What factors contribute to the results aspect of value?

A

Overall quality, ease of use, warranty, purchasing experience, etc.

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14
Q

What factors contribute to process quality?

A

Convenience, fun experience, short waiting times, ease of finding products, etc.

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15
Q

What are customer access costs?

A

Costs associated with club membership fees, inconvenient locations, poor store hours, inadequate parking, etc.

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16
Q

What is Tobin’s Q ratio?

A

A measure comparing a company’s market value to the value of its tangible assets.

17
Q

What does a Q ratio greater than 1 indicate?

A

Financial markets believe part of the company’s value comes from its non-tangible assets.

18
Q

What are public goods?

A

Goods that cannot exclude anyone from using them and are not reduced by individual consumption.

19
Q

What are externalities?

A

Side effects of actions by individuals or organizations that affect others.

20
Q

What are examples of negative externalities in the fashion industry?

A

Factory pollution, environmental degradation.

21
Q

What are examples of positive externalities in the fashion industry?

A

Job creation, income tax revenues.

22
Q

What is sustainable development?

A

Development that meets present needs without compromising future generations’ ability to meet their needs.

23
Q

What is CSR?

A

Corporate Social Responsibility; the responsibility of enterprises for their impacts on society.

24
Q

What is the stakeholder theory?

A

The idea that companies have relevant stakeholders beyond just owners and shareholders, including government, NGOs, and local communities.

25
Q

What is ESG?

A

Environmental, Social, and Corporate Governance; a framework for measuring a company’s impacts in these three fields.

26
Q

What is shared value according to Michael Porter?

A

A management strategy that enhances company competitiveness while advancing social, environmental, and economic conditions.

27
Q

What is circular fashion?

A

Fashion that focuses on reducing waste by reusing, repairing, and recycling garments.

28
Q

What is upcycling?

A

Using waste materials to create new products of equal or better value than the original.

29
Q

What is downcycling?

A

Using waste materials to produce less valuable products.

30
Q

What is cradle-to-cradle design?

A

Designing products so that all materials can be safely returned to the environment or reused.

31
Q

What is the triple bottom line (TBL)?

A

Simultaneous performance in economic, social, and environmental dimensions of sustainability.

32
Q

What are SCRAPs?

A

Sistemas Colectivos de Responsabilidad Ampliada del Productor; systems for collective producer responsibility.

Tendencias (9 decks)

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