Final Exam Revision Flashcards
Define “Triple Bottom Line”:
A business concept stating that organizations should measure social, environmental, and financial performance (People, Planet, Profit).
Not just focusing on generating profit.
How are sustainability and consumer spending linked? Provide examples.
Consumer spending can greatly influence sustainability.
For example, the rise of “fast fashion”, where people are convinced they should always buy new clothes even when their old clothes are still in good condition.
Name one category of Corporate Social Performance (CSP), and explain its importance in
detail.
Ethical Responsibility, which is conducting business morally, beyond just legal compliance.
Envolves practices such as honesty in advertising, ethical sourcing of materials, etc.
Define a closed-loop ‘eco-industrial park’:
it is an industrial park where businesses cooperate with each other and the local community to reduce waste and pollution, by efficiently sharing resources.
Describe briefly four possible solutions to adapt to sustainability.
1- Tech innovations: creating new tech that allows producing products using less energy and resources with less waste.
Change in consumption patterns:
