Deck 11: Section 4: Is Sustainability Just a Buzzword

Question 1

How can business benefit from implementing sustainable practices?

Answer 1

Businesses can reduce costs (eg .reduce packaging, reduce waste, lower energy use), reduce risks and improve public relations.

Question 2

Explain how a facilities department could implement sustainable business practices?

Answer 2

A Facilities department could so several things. First, build or rent green facilities that minimize energy and water usage. Second, implement a green waste management program. And third ensure green cleaning and landscaping practices are used.

Question 3

Explain some advantages of using the Genuine Progress Indicator.

Answer 3

The Genuine Progress Indicator (GPI):
-considers a country or region's economic growth and social well-being.
-includes all variables calculated under the GDP, but subtracts the negative effects of economic growth that cause social harm to a community. The cost of crime, pollution, and resource depletion are a few examples. How does the cost of crime normally increase GDP? Let's consider a family injured in a home break-in. In calculating GDP, lawyer's fees, property damage repairs, and medical fees are treated as forms of revenue; however, since the action does harm to a society, in calculating GPI these revenues are subtracted.
-considers positive contributions of the family and the community that are not included in the GDP because no money changes hands. For example, the value of housework, volunteer work, and unpaid childcare all contribute to a society's well-being. Under the GPI, these actions are calculated at the approximate market value of hiring someone to do the work.
-helps us understand why a population may feel unhappy or dissatisfied despite economic growth.

Question 4

How can the Triple Bottom Line framework be used to assess business sustainability?

Question 5

What are the benefits and limitations of using the TBL approach in the food industry?

Question 6

Explain the meaning of sustainable development, and how has the phrase been interpreted?