Ways Businesses Can Have a Direct Influence on the Environment (Grade 11 NSC Matric Business Studies): Flashcards
📚Flashcards
Practise the cards
10 cards from this deck
ShowHide
Practise the cards
10 cards from this deck
Business approach to their environment
Business approach to their environment
Actively influence it, not just respond to changes
Triple bottom line framework
Triple bottom line framework
Accounting framework: people, planet, profit equally
Three elements of triple bottom line
Three elements of triple bottom line
People, planet, profit
How businesses influence suppliers
How businesses influence suppliers
R&D activities & long-term contracts at fixed prices
How businesses influence customers
How businesses influence customers
Innovative product development & creating demand
How businesses influence regulators
How businesses influence regulators
Lobbying activities & bargaining with government
Environmental social responsibility projects
Environmental social responsibility projects
Sustainable practices, recycling, reuse of scarce resources
Employee benefit of social responsibility
Employee benefit of social responsibility
Increased morale & job satisfaction
Customer benefit of social responsibility
Customer benefit of social responsibility
Increased customer loyalty & sales
Investor benefit of social responsibility
Investor benefit of social responsibility
Attracts more investors; seen as sustainable & ethical