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TMA01 Entrepreneurial Innovation and Societal Challenges: Cloan - Online…
TMA01 Entrepreneurial Innovation and Societal Challenges: Cloan - Online rental platform
Part 2 Triple Bottom Line Theory
Economic Value
Profit generation
Quality jobs
Waste reduction as they eventually sell the item
Increasing shareholder value
Environmental Value
Eco friendly washing
DPD courier, sustainable and evironmentally friendly partner
Landfill reduction
Waste reduction
Social Value
Enabling low income households access to premium wardrobes
Landfill reduction
Same experience provided as if buying new
Employment opportunities
Relevance to task
Evaluates the sustainability of the business
Identifies the value created in three crucial areas
Reveals how impacts are interconnected
Part 1 Entrepreneurial Innovation
Online Rental Platform
Combines influencer wardrobes with the growing trend to rent clothing
Disruptive innovation impacting the fast fashion industry
Full control over the process as they own the items unlike competitors
Reason for choice
Passionate about sustainability
Understanding of the damaging affects of fast fashion
Environmentally conscious shopper
Fashion is the biggest contributor to landfill
Definition
New process, idea or product not currently existing in an industry
Part 1 Societal Challenges
Reusing items reduces items sent to landfill sites
Making premium clothing available for rent, combats social exclusion
Promotion of high quality materials combats poor working conditions
The less sent to landfill, the less C02 Emissions.
Sustainable Development Goals - No poverty, Responsible consumption, Climate Action
Sources / References using Harvard referencing
Cloan
Sustainable Development Goals
Business Live
B327 Reader
Earth.Org
GO Climate
Insider Media
Elkington
Stakeholders
Owners / Managers / Employees
Consumers
Government - SDG's
Partners - DPD courier, GO Climate
Part 3 Open Studio and TGF
Meaningful comments
Contributions
Conclusion
Key points
What was revealed?
How useful was the framework?