Social, Enviromental and Economic Sustainability

Question 1

Define social sustainability

Answer 1

Social sustainability is about providing a safe work environment, health and safety measures, diversity and community investment.

Question 2

Define Environmental Sustainability

Answer 2

Environmental Sustainability looks at the impact of business on things like climate change, pollution and use of natural resources.

Question 3

Define finanacial sustainability

Answer 3

Finanacial sustainability looks at the economic stability a company brings, growth, job creation and development in innovation and new products.

Question 4

Define a Sustainable Competitive Advantage (SCA)

Answer 4

A sustainable competitive advantage is generated when a company has a unique resource or competence that is difficult to replicate and sets them apart from their competitors. It means that a company is able to outperform their competitors now and in the future.

Question 5

Define sustainsbility

Answer 5

Sustainability is about maintaining the world resources rather than depleting or destroying them, to ensure they support human activity now and in the future. Sustainability can be considered on three fronts Social, environmental and financial