Topic 6 Flashcards
What is sustainability?
Utilization of finite natural resources to ensure long-term viability.
What is the Green Plan?
A national sustainability movement in Singapore involving collective action across all industries to target climate change.
What does being carbon neutral mean?
Offsetting all greenhouse gas emissions.
What is the goal of business sustainability management?
To ensure organizations are environmentally and socially responsible while remaining economically viable.
How can companies build trust or reputation?
Through sustainability efforts and joining sustainability initiatives.
What dual roles can the marketing department play regarding sustainability?
It can act as both a supervillain and superhero.
How does digital storytelling influence sustainability?
It captures visual attention, processes sensory information, and facilitates understanding of sustainability issues, conveying possible outcomes.
What role does blockchain technology play in sustainability?
It tracks and verifies goods and services throughout the supply chain from production to consumption.
What is a decentralized network in blockchain technology?
A network that shows transparency in the supply chain involving all stakeholders.
How does enterprise blockchain enhance sustainability in supply chains?
By tracing supply chains and promoting collaboration and information sharing, reducing environmental impacts.
What are the integration challenges with digital technology in sustainability?
Time, resources, and the need for standardized participation and information exchange.
What privacy concerns exist with blockchain in sustainability efforts?
Stakeholders may be concerned with privacy when sharing information.
What are data quality challenges in blockchain technology?
Instances of inaccurate, incomplete, or inconsistent data entry which question its effectiveness.
What regulatory challenges affect blockchain implementation?
Differences in international standards.
What adaptation issues do supply chain members face with blockchain?
Lack of understanding and trust, leading to a wait-and-see attitude.
Why is cost a major consideration in implementing digital technologies like blockchain?
High expenses involved in implementation and onboarding all parties.
How do permissionless and permissioned blockchains differ?
Permissionless: open, public, and anonymous. Permissioned: restricted, private, and non-anonymous.
What environmental metrics can digital technology help companies monitor?
Carbon emissions, resource consumption, waste production, and ecosystem impact.
How can IoT be used in sustainability?
Through immersive AR and VR simulations to simulate environmental threats and reduce ecological concerns.
What effect did a VR intervention have on participants’ perception of ocean acidification?
Increased concern and engagement with the environmental problem.
How does gamification promote sustainability?
Creates competition and incentives, encouraging environmentally friendly behaviors and sustaining motivation.
What is the significance of transparency in blockchain for sustainability?
Ensures all activities in the supply chain are visible to all stakeholders, promoting accountability and trust.
How does digital technology enable sense-making of sustainability issues?
Through novel ways that influence how audiences process and interpret information about sustainability.
What role does digital technology play in the traceability of the supply chain?
Ensures every stage from production to consumption is recorded and verifiable.
What does it mean for a company to be economically viable while being sustainable?
Maintaining profitability and growth while adhering to environmental and social responsibilities.
What are the benefits of joining sustainability initiatives for companies?
Enhances reputation, builds trust, and aligns with global sustainability standards.
How can digital technology address the challenge of standardization in sustainability efforts?
By providing platforms that ensure uniform participation and data sharing among stakeholders.
What impact does the cost of digital technology have on small versus large companies?
Larger financial strain on small companies due to high initial investment costs.
How can companies ensure data quality in blockchain used for sustainability tracking?
By implementing rigorous verification processes to validate data before entry.
What adaptations are necessary for companies to fully integrate digital technologies like blockchain?
Education and training to build understanding and trust among all stakeholders.
