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ENVIROMENTS AND EHTICAL ISSUES (Externalities (Private costs are the cost…
ENVIROMENTS AND EHTICAL ISSUES
Externalities
Private costs are the cost paid for by a business or the consumer of the product
Private benefits are the gains to a business or the consumer of the product
External costs are costs paid for by the rest of society, other than a business, as a result of business activity
External benefits are the gains to the rest of society, others than business as the result of business activity
Social cost= External cost + private costs
Social benefits= External benefits+ private benefits
Sustainable development
BMW
Its sustainability efforts start in the manufacturing line as BMW continually strives to reduce the emissions of the vehicles it produces and offer electric and hybrid choices for its customers.
Biogen
Biogen is a carbon-neutral company meaning that it has effectively neutralized carbon-emitting activities with reduction and offset projects. In the community, Biogen sends thousands of employees to promote and support STEM (science, technology, engineering, and math) programs in schools and provides two Community Labs where middle and high school students can study in real life.
Adidas
Its general approach to sustainability is to find the balance between shareholder expectations, respecting human rights and the needs of its employees.
Adidas attempt to provide the best lifestyle for its employees by including creative scheduling and time off models. Employees can have flexible time off.
Examples:Clothes factory
Private costs: Labour costs
Private benefits: Money recieved from the sales of products
External costs: Clothes factory create noise and loss of greenfield
External benefits: Clothes factory will Create job for many people.
Social cost: the cost of land and the cost of making environment polute
Social benefits: The business will earn the revenue form selling the products and it will pay tax for the government, the government can spend on social projects.
Responding to environmental pressures and opportunities
Example : LUSH
Description :
Lush produces a wide range of cosmetics and personal care products, all of which are made vegetarian or vegan.s,
From creams, to soaps, to shampoos, to lotions, moisturizer , scrubs, masks, and other facial cosmetics
What have they done
No animal testing
50% are Naked packaging
gifts for customers made from recycled plastics bottles
One-hundred percent of the purchase price goes into a Charity Pot Fund, which is donated to environmental, humanitarian and animal rights charities
use of recycled ocean plastic in its containers
Oil major Shell has reportedly agreed to pay $3.8 million for damages over a May 2016 oil spill, which resulted in about 1,926 barrels of oil discharged into the U.S. Gulf of
Shell Oil Spill