Sustainable, ethical enterprises

Question 1

What is sustainability?

Answer 1

The capacity to endure

Question 2

What is sustainable development?

Answer 2

Sustainable development is development that meets the needs of the present without compromising the ability of future generations to meet their own needs.

Question 3

What is a sustainable business?

Answer 3

A sustainable business is one that generates profit while improving societal and environmental conditions. This includes what you do (your product or service) as well as how you do it (the way you operate).

Question 4

Advantages of being a sustainable business: meeting procurements

Answer 4

Many NZ businesses are starting to ask sustainability related questions when it comes to procurement. For example, there is now increasing competition among businesses to meet procurement requirements for local government. A business which has supply chain transparency is in a stronger position to meet these standards. E.G. Fonterra.

Question 5

Advantages of being a sustainable business:

Answer 5

Sharing your sustainability story is a marketing tool. Brand reputation is one of the most valuable assets a business can have.
E.G. Ecostore

Question 6

Advantages of being a sustainable business:

Answer 6

Consumers are demanding socially and environmentally friendly products. E.g. Nike/Apple

Question 7

Advantages of being a sustainable business:

Answer 7

Social and environmental issues present new business opportunities for companies that recognise the potential new revenue sources available to those who develop solutions to the challenges we face. Manufacturing, technology, construction, transport, fashion and retail are a few examples of areas where innovation is driving change and, in turn, creating new markets.

Question 8

Advantages of being a sustainable business:

Answer 8

Sustainability is about protecting your business from the risks of today, while ensuring that it can respond to the challenges and opportunities of tomorrow. It’s important to have a long term outlook to ensure longevity, and to make sure your business remains successful in the future.

Question 9

Advantages of being a sustainable business:

Answer 9

Many of the resources we previously considered renewable, like forests and fresh water, have become finite now that human demands are exceeding the ability of natural processes to replenish them. Businesses need to plan for increasing resource costs in the future, the cost of adaptation to climate change, and a policy environment that is increasingly hostile towards carbon emissions. Embedding sustainability into your business will allow you to do this.

Question 10

Advantages of being a sustainable business:

Answer 10

Employees and job candidates, particularly those from Generation Y, seek work that i s meaningful and demonstrates value to society. Top talent is seeking out employers that have a clear vision for their contribution to a sustainable global economy and look to drive improvements internally. Embedding sustainability into your business allows you to attract and retain talent.

Question 11

Advantages of being a sustainable business:

Answer 11

Stakeholders recognise the value of proactively anticipating, managing and responding to business risks. By having a sustainability policy, you will attract investors who are interested in companies with long-term, sustainable business plans that minimise operating risks and costs in the future.

Question 12

Advantages of being a sustainable business:

Answer 12

What are the next big shifts in your sector? In our rapidly changing world, a successful business is one that can effectively manage cha nge. It’s important to be able to have a view to the future, and to be willing to adapt to change.

Question 13

What is corportate social responsibility?

Answer 13

Corporate Social Responsibility is about how a business monitors and ensures its active compliance with the law, ethical standards, and international norms.

Question 14

Ultarian approach

Answer 14

the most ethical choice is the one that will produce the greatest good for the greatest number of persons. It is the only moral framework that can be used to justify military force or war

Question 15

rights approach

Answer 15

the best ethical action is that which protects the ethical rights of those who are affected by the action. It emphasizes the belief that all humans have a right to dignity

Question 16

fairness approach

Answer 16

people shoukd be treated equally regardless of their situation in life, that is, they should not be subject to discrimination

Question 17

common approach

Answer 17

ethical actions are those that benefit all those within the community

Question 18

The pyramid of Corporate Social Responsiblity

Answer 18

econimics responsibilities - Be profitable. The foundation upon which all others rest

legal responsibilities - Obey the law. Play by the rules of the game

ethical responsibilities - Be ethical. Do what is just, right and fair. Avoid harm.

philanthropic responsibilities - Be a good corporate citizen. Contribute resources to the community.
Make the world a better place.