Topic 4: Sustainability in Business Functions 1

Question 1

What is the Sustainable Business Model Canvas?

Answer 1

The Sustainable Business Model Canvas is a variation of the traditional Business Model Canvas that integrates sustainability considerations into the design of a business model.

Question 2

Give one example of a sustainable SME in Singapore?

Answer 2

• Another example is Vitasoy International Singapore. The company sells plant-based food and beverages, with local manufacturing operations producing tofu and importing beverages from parent and sister companies.
• An example of a sustainable SME in Singapore is Bettr Barista Coffee Academy. It is asocial enterprise (social entrepreneurship)that provides coffee-related training and employment opportunities to marginalised communities.
• Both of these companies are B Corp certified.

Question 3

What is greenwashing?

Answer 3

Greenwashing is misleading consumers about a company’s environmental practices or the environmental benefits of it’s products or services.

Question 4

What is one example of a company caught greenwashing?

Answer 4

Another famous example of a reputation loss case due to greenwashing is the Volkswagen emissions scandal in 2015. Volkswagen was found to have installed software in their diesel vehicles that could detect when the car was being tested for emissions and alter the results to appear more environmentally friendly than they were. This scandal led to a decline in Volkswagen’s sales and stock value and a loss of trust and reputation among consumers and the public. The company had to pay billions of dollars in fines, recall millions of vehicles, and face lawsuits from consumers and shareholders. The scandal damaged Volkswagen’s reputation as a socially responsible and environmentally conscious company, and it has taken years for the company to try to regain consumer trust.

Question 5

What tactics do marketers need to be mindful to not use when marketing?

Answer 5

• Green & social Imagery
• Use of general statements
• Missing the point
• Misleading labels
• Giving options consumers cannot act on
• Making claims that are not as good as they seem
• Promoting baby steps

Question 6

What is one eco-label that can verify a products eco-friendlyness?

Answer 6

Singapore Green Label

Question 7

What is B Corp Certified?

Answer 7

B Corp certification involves a rigorous assessment process that evaluates a company’s social and environmental performance across several areas, including governance, workers, community, environment, and customers. There are only a few companies in Singapore to be certified by B Corp