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Sustainability > Topic 4 > Flashcards

Topic 4 Flashcards

1
Q

What is sustainability seen as in modern industries?

A

A multi-dimensional concept crucial across all industries.

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2
Q

What does a sustainability strategy help achieve in business?

A

Lays the groundwork for integrating sustainability into various business functions.

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3
Q

How do other business functions like accounting and marketing help in sustainability?

A

Help integrate cornerstone concepts of sustainability across the organization.

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4
Q

What percentage of businesses do SMEs represent in Singapore?

A

99% of all businesses.

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5
Q

How do SMEs contribute to Singapore’s GDP?

A

Contribute to almost half of the GDP.

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6
Q

Why is sustainability important in entrepreneurship?

A

Helps manage risks, cut costs, and increase efficiency.

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7
Q

How does sustainability help SMEs align with larger companies?

A

Opens up new markets and opportunities by aligning with larger companies’ sustainability values.

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8
Q

What are the key concepts in sustainable entrepreneurship?

A

Development of sustainable business models and importance of a sustainable supply chain.

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9
Q

What does a sustainable business model address?

A

Addresses economic viability along with social and environmental challenges.

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10
Q

What is important in marketing sustainable products?

A

Effective marketing of sustainable products is crucial.

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11
Q

What does the Sustainable Business Model Canvas focus on?

A

Focuses on customer segments, value propositions, distribution channels, and more.

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12
Q

What challenges do entrepreneurs face in maintaining sustainability?

A

Balancing economic goals with social and environmental objectives.

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13
Q

What are the current trends in sustainable entrepreneurship?

A

Rise of social entrepreneurship, sharing economy, and circular economy.

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14
Q

What dual role do marketers play in sustainability?

A

Promoting and combating unsustainable consumption.

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15
Q

What is crucial in sustainability marketing?

A

Identifying target audiences, understanding their values, and communicating benefits.

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16
Q

What challenges exist in sustainable marketing?

A

Balancing cost with sustainability, maintaining credibility, and ensuring departmental integration.

17
Q

How can companies avoid greenwashing?

A

By focusing on honesty, transparency, and responsible communication.

18
Q

What strategies can be used in sustainable marketing?

A

Transparency, purpose-driven messaging, collaboration, product innovation, and consumer education.

19
Q

What does entrepreneurship focus on in terms of sustainability?

A

Identifying and exploring new business solutions to address sustainability.

20
Q

What role does accounting play in sustainability?

A

Building systems and strategies to meet sustainability targets, providing crucial data.

21
Q

How does economics help businesses engage in sustainability?

A

Influences mechanisms allowing companies to internalize societal costs.

22
Q

What role does finance play in sustainability?

A

Sends signals about the value of investing in sustainable practices.

23
Q

How does strategy contribute to sustainability in business?

A

Chooses and implements the right approaches, mobilizing towards sustainability.

24
Q

How does marketing contribute to sustainability?

A

Designs and promotes sustainable products, driving market change.

25
Q

What is the role of operations in sustainability?

A

Manages impacts of products and services throughout their lifecycle.

26
Q

How does organizational behavior support sustainability?

A

Embeds sustainability into corporate culture from recruitment to retirement.

27
Q

Why are ethics important in sustainability?

A

Establishes a culture of governance and transparency, maintaining stakeholder trust.

28
Q

What are the key elements of the Sustainable Business Model Canvas?

A

Includes customer relationships, revenue streams, key resources, activities, partners, and cost structures.

29
Q

How do sustainable business models contribute to economic development?

A

By promoting social and environmental responsibility alongside economic viability.

30
Q

How does transparency play a role in sustainable marketing?

A

Enhances company credibility and consumer trust.

31
Q

What is the importance of product innovation in sustainability?

A

Drives new sustainable product developments that meet consumer and environmental needs.

32
Q

What impact does social entrepreneurship have on sustainability?

A

Boosts the economy by addressing specific social and environmental issues.

33
Q

How does the sharing economy contribute to sustainability?

A

Reduces waste and maximizes resource utilization by sharing access to products.

34
Q

What role does the circular economy play in sustainability?

A

Promotes resource efficiency and waste reduction by reusing and recycling materials.

35
Q

How do companies manage social and environmental impacts through finance?

A

Enables effective management of economic, environmental, and social impacts.

Sustainability (5 decks)

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