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Bussiness (Example: (Sustainable construction materials, Bicycle repair…
Bussiness
Example:
Sustainable construction materials
Bicycle repair and refurbishing
Package free shopping
Eco-consulting
Handmade all-material/organic produtss
28.1
b) -Resident, because the factory will pollute the environment around the residents
-Labour union, because if something go wrong in the factory, it could harm the workers
c) -Unemployed workers, because the factory create job for them
a) External costs are costs paid for by the society, other than the business, as a result of business activity
28.3
b) Because all the initiative are being recycle and use for other purpose that also benefit the business, the business will attract consumers because this is friendly to the environment.
c) Because as they promote the business as an environmental business can make consumers interested about it and this will increase competition, the business can increase revenue,too
a) Sustainable development is development which does not put at risk the living standards of future generations.
28.2
b) – They want encourage the business to start up and grow
To boost their economy
a) society responsibility is when the decisions of a business benefits stakeholders other than shareholdes
c) -They pollute the river by releasing watses
They chop down trees so that it causes floods
Externality
DEF:An externality is a cost or benefit incurred or received by a third party. However, the third party has no control over the creation of that cost or benefit
There are 6 types
External costs
Noise from factory will disturb the local neighbourhood
Waste products will cause pollution
External benefit
Jobs will be created
Chemical business will pay tax => raise government funding
Private costs
Labour cost
cost of construction
Cost of land
Social Cost = Private cost + Private benefit
Private benefit
The money made from sales
Social benefit= Private benefit + external benefit
SUSTAINABLE DEVELOPMENT
sustainable development means adopting business strategies and activities that meet the needs of the enterprise today while protecting, sustaining natural resources
EXAMPLES
Xylem:This water technology provider does everything to operate their business in a way to ensure its safety and quality but minimize its environmental footprint.
General Mills:The focus areas of this business include climate change, the sustainability of water use, and improving ecosystems in their supply chain.
DELL:They integrate alternative materials in products and packaging, those designing for end-of-life and recyclability,and plan to reduce the energy intensity of their products by 80% in 2020.
Business example: Tesla
Description: Tesla,Inc. engages in the design, development, manufacture, and sale of fully electric vehicles, energy generation and storage system. It also provides vehicle service center, supercharger station, and self-driving capability
For example: You open a factory