Definitions

Question 1

Triple bottom line

Answer 1

It is a framework for measuring and reporting business performance by not only using economic results but also social and environmental standards

Question 2

Paradigm shift

Answer 2

It implies a new model based on a new set of rules that replaces the old set of rules. The new set of rules provide new boundaries within which action must be taken

Question 3

Change

Answer 3

Change can be seen as something different, a modification, a shift or transition from one thing to another

Question 4

Opportunity

Answer 4

Refers to a positive or unused conditions in the environment that can be utilized to the benefits of the company through proactive management

Question 5

Paradigm paralysis

Answer 5

Someone or a business freezes because they are convinced that what worked in the past will continue to be successful in the future

Question 6

Trend

Answer 6

A trend is a general direction into which something is developing or changing

Question 7

Fad

Answer 7

A fad ir a whim comes around every 10 years and is a short-lived preference

Question 8

Environment scaning

Answer 8

Is a systematic method monitoring changes and trends in a business’s environment