Sustainability and Business - W4

What is the definition of business sustainability?

• Managing economic, social, and environmental risks

• Maximizing profits at any cost

• Ignoring social and environmental impacts

• Focusing only on economic growth

What are the three impacts of business sustainability?

• Profits, people, and planet

• Economy, society, and environment

• Money, employees, and resources

• Growth, development, and sustainability

What is the role of corporations in protecting the planet?

• Think globally and act locally

• Ignore environmental issues

• Focus only on profits

• Avoid any responsibility

What is the definition of corporate social responsibility (CSR)?

• A self-regulating business approach that enhances society and the environment

• Maximizing profits without considering social and environmental impacts

• Ignoring stakeholders' expectations

• Operating in ways that contribute negatively to society and the environment

What are the benefits of sustainable work practices?

• Increased productivity and reduced costs

• Negative public opinion and increased waste

• Legal proceedings and compensation

• Environmental hazards and risks

What is greenwashing?

• Misleading people about the environmental practices of a company

• Using green packaging for products

• Promoting sustainable work practices

• Recycling and disposal of products

What was the Volkswagen scandal about?

• Installation of defeat devices to cheat emissions tests

• False and misleading claims about environmental performance

• Boycotts from customers

• Financial penalties

What does the life-cycle approach involve?

• Looking at the whole life of a product from raw material extraction to disposal

• Focusing only on the production stage of a product

• Considering the impacts of a product on the economy and society

• Improving image and brand value

What are the benefits of integrating the life cycle perspective in overall management?

• Environmental, occupational health and safety, risk and quality management

• Minimizing the use of resources

• Consulting with stakeholders

• Developing sustainable procedures

What should be considered when making decisions on consumption and production patterns?

• Impacts of all life cycle stages

• Financial penalties

• Negative media attention

• Customer boycotts