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Lecture 16

BU121 Lecture 16: Sustainability
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Department
Business
Course
BU121
Professor
Laura Allan
Semester
Winter

Description
Sustainability  “development that meets the needs of the present without compromising the ability of future generations to meet their needs” UN World Commission on Environment and Development  Measured by the Triple Bottom Line - Profit/Environment/Society – People/Planet/Profit o “sustainability sweet spot” - place where corporate and societal interests intersect – a new way to measure the bottom line o “The truly sustainable company would have no need to write checks to charity or ‘give back’ to the local community, because the company’s daily operations would not deprive the community, but would enrich it.”  Dow Jones Sustainability Index - 1999  Global 100 Most Sustainable Corporations in the World o http://www.global100.org/  Global Reporting Initiative – guidelines o 93% of the world’s largest 250 companies report on their sustainability performance, with 82% of these using GRI guidelines (KPMG Int’l Survey of Corporate Responsibility Reporting) o more holistic image of company B Corp  https://www.bcorporation.net/community/ethical-bean-coffee - For-profit companies certified by non-profit B Lab to meet rigorous standards of social and environmental performance, accountability and transparency - 1600+ in 42 countries and 120+ industries working toward 1 unifying goal – to redefine success in business Sustainable Operations  The ‘Next Industrial Revolution’ - We need to put a 200$ value on a hamburger as this is what it costs the Earth to produce a hamburger o Environmental & biodiversity destruction - Not a problem currently, but will affect us a lot in the future  Ways to weave sustainability into operations: - Product design o “Cradle to Cradle” design o Bio-mimicry  Products mimicking biology/nature - Product Stewardship o Manage for today while preparing for tomorrow - Sustainability through servicing - Sustainability of the supply chain - By being sustainable, you will increase your profits  Its not about growth, no growth, it is about development and sustainability Cradle to Cradle Design  Take-make-waste model – Cradle to Grave design - Eco-efficient – “reduce harm”/ “less bad” – 3Rs design o Reduce, reuse, recycle  Only makes you more efficient, but it does not change the model  Eco-effective design based on nature’s design principles - “Waste equals food” – Cradle to Cradle design - Products developed for closed-loop systems – ‘Circular Economy’ o Every output is safe and beneficial  can be use  Biological (going back to the food)  Ex. Sun Chip bags become decomposable  People were upset at first because the bag was too noisy  or Technical nutrients (being used for something else UPCYCLE)  Ex. Nike’s reuse a shoe program o Shoes create tracks, courts, etc. o “You gave it a soul, now give it a second life” o Eliminate the concept of waste o https://www.ellenmacarthurfoundation.org/circular-economy/overview/concept 4Ps for 3Ps – People, Planet, and Profit - A lot of people want to go green but are just not aware of the choices - Be deliberate of the 3Ps Consumer Eco-Perceptions  Being green is valuable, but not critical - 75% said greenness was an important factor in purchase decision BUT “is a green company” last in list of critical brand attributes  Green products need to be affordable - Biggest challenge to buying green is that they are too expensive – 64%; second biggest challenge – limited selection – 49% o Must need to communicate the value so that they will be willing to pay for more expensive items - 35% intend to spend more on green products and intentionally choose products with packaging that can be recycled, uses less material, or is biodegradable  Green reputations are build on products, operations, and labels - Most important for companies wishing to be green is to “strive to make operations energy efficient” vs. just “offering environmentally friendly products and services” - Partnerships with environmental organizations is least impor
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