Answer To: Page 1 of 8 BUGEN 5930 – Business, Society and the Planet Final Assessment Task - Individual Written...
Nishtha answered on Jun 23 2021
Running Head: BUSINESS, SOCIETY AND THE PLANET 1
BUSINESS, SOCIETY AND THE PLANET 13
BUSINESS, SOCIETY AND THE PLANET
Table of Contents
PART A Resource Summary 3
PART B Short Answer Questions 4
Answers 1 (a) 4
Answer 1 (b) 4
Answer 2 (a) 5
Answer 2 (b) 6
Answer 3 (a) 6
Answer 3(b) 7
PART C Giving Voice to Values 7
Answer 1 7
Answer 2 8
Answer 3 9
Answer 4 10
References 13
PART A Resource Summary
In 2008, a person name Daniel Flynn, got two facts. One was the children, who are and still dying from water borne diseases and another is market of the bottles water worth of 150 billion. Just then, he got a solution of Thankyou Water. As a first year university student, he with his friend launched their consumer brand to 55 different products in 5500 location across the Australia. The whole brand thank you waster has become only Thankyou. The focus is to give 100 % of the profit to the nonprofit working to remove poverty.
The company is now a charitable trust that owns a profitable business. The dividend flow in the company, all ultimately distributed to charity. As a university student, they had no idea about the manufacturing leads. The key to success was social media connections and relationship with consumers. The company continuously uses social media as a tool for marketing. At first, Daniel used youtube. To get stock up by 7-Eleven, Daniel says to his fans to visit 7-eleven facebook page and promise to buy thankyou water.
This strategy worked, people come singing and dancing and thankyou water became third largest best-selling brand in chain stores in Australia. The team found an innovative way to address the pinch. Daniel Flynn also wrote the book “You Have the Power to Change Stuff”. The book offered to sale in a crowd funding campaign. It gives power to people to pay whatever they want. There are people paid pennies for the book to 50000 dollars. The book continued to sell and within one month, the company hits its target.
The whole idea based on social enterprise. On 2013, company expanded its product range and included food and body care products. Today Thank you has 40 products in more than 5000 outlets including coles and woolsworth. Thank you has a long way to come. The company is a perfect example of ability of any enterprise to create and deliver net-positive externalities at a level of scale in the world.
PART B Short Answer Questions
Answers 1 (a) As mentioned by Ruijs, Heide, and Berg (2018), natural resources considered as one of the components of a nation’s wealth. Other forms of the wealth of nation include its human talent, physical infrastructure, financial assets etc. These are all considered as capital that can be utilized and exploited (in a more positive sense) to develop an economy. Hence, it is called natural capital. It is a world’s stock of natural assets. Like any other debt like financial debt. When we overuse it, we ran into debt and bankruptcy. Likewise, it happens with the natural capital too, when we overuse it, we need to pay it back. To measure natural capital, it is determines by the contribution businesses and individual makes for the improvement in the natural resources reserves. The measure of the natural capital comprises sub measure of biodiversity, soil and water. Biodiversity impact is one of the tools to measure natural capital. It took consideration of the area of the land, the land get affected by any commercial and non-commercial activity and quantity affected (no of natural resources before).
Biodiversity impact= land area*quality affected*quantity affected.
Answer 1 (b) As mentioned in Opoku and Boachie (2020) large supermarket chain consumes and destroys natural capital. For example, agriculture (and agroforestry) largely destroys lands and forests for food and cash cropping. Thousands of Hectare of Forest are now the major cities of world.(It might seem as a huge achievement but anonymously this is destruction of resources), this loses greenery and along with this many wildlife suffers from habitat loss which causes them to migrate and some of them get extinct too. With the increase of the population, the need of the supermarket also increases. This results in the depletion of the natural capital. Our financial systems assign zero value to resources in their natural state. It will collapse unless the economy continues to grow. As super market usually contains perishable items, bigger the super market, it would destroy on the account of perishable nature. The super market takes large space in nature, which results into cutting of tress, emission of harmful gasses, increasing carbon footprints and pollution. On the other hand, online shopping is a kind of bliss for many people around the world. Internet has totally changed the way we do our shopping and this has promoted online shopping in recent years.
Answer 2 (a) As mentioned by Chell, Spence, Perrini and Harris (2016), social entrepreneurship is an approach by start-up companies and entrepreneurs, in which they develop, fund and implement solutions to social, cultural, or environmental issues. It helps in transforming systems and practices that are the root causes of poverty, marginalization, environmental deterioration and accompanying loss of human dignity. Either social entrepreneurs, however, are non-profits, or they blend for-profit goals with generating a positive "return to society". Social entrepreneurship demands the same confidence, motivation and innovation as any other business, but in a manner, that prioritizes social development and the multiple creations of social and economic values. Emerging Entrepreneur, more than making a profit, it amounts to performing social change by means of exclusive solutions that help a community overcome recognized obstacles. To put it simply it’s a way of running a business where the value enterprise create has a double or triple bottom line - people, planet, profit - i.e. you’re able to do some good for people or the planet whilst making a profit. It would ideally refer to an innovation. The essence is that the innovation should aim to improve the basic utility necessities of human...