Week 9 SI Flashcards
What is a sustainable business model?
A sustainable business model integrates environmental, social, and economic considerations, aiming for long-term value creation while minimizing negative impacts.
How does leasing contribute to a sustainable business model?
Leasing allows companies to retain ownership of products, facilitating maintenance, upgrades, and recycling, which supports resource efficiency and recovery.
Describe an example of a company using a “pay-per-use” model.
Some washing machine providers offer pay-per-use models, where customers pay only for each use, promoting energy and water efficiency.
Explain the concept of a Product-Service System (PSS).
PSS offers services instead of selling products outright, focusing on access over ownership, which reduces waste and encourages efficient resource use.
What is a “circular business model”?
A circular business model designs for longevity, repair, and recyclability, keeping products and materials in use and reducing the need for new resources.
Explain “take-back programs” and their role in sustainable business.
Take-back programs allow companies to reclaim used products, ensuring proper disposal or recycling, and often incentivizing sustainable consumption.
How does extended producer responsibility (EPR) influence sustainable business practices?
EPR requires companies to manage the end-of-life of their products, encouraging designs that are durable, repairable, and recyclable.
What is the benefit of a “sharing economy” model?
The sharing economy reduces resource consumption by allowing multiple users to access a product, as seen with services like car-sharing or equipment rentals.
What is a “closed-loop supply chain”?
A closed-loop supply chain reuses, remanufactures, or recycles materials back into production, minimizing waste and resource extraction.
Describe the environmental and financial benefits of modular products in sustainable business.
Modular products allow for easy repair, upgrading, and replacement of parts, extending product lifespan and reducing costs associated with replacements.
How does a “subscription model” support sustainability?
Subscription models provide regular service or access rather than ownership, encouraging companies to focus on durability and ease of maintenance.
What is “servitization,” and why is it sustainable?
Servitization is shifting from product-based to service-based offerings, reducing resource use and encouraging long-term product maintenance.
How can sustainable business models drive innovation?
Sustainable models encourage companies to develop new products, materials, and processes that reduce waste, lower costs, and meet consumer demand for eco-friendly options.
Why is collaboration important in sustainable business models?
Collaboration with suppliers, customers, and even competitors can optimize resource use, improve product design, and create closed-loop systems.
