Part B – Short Answer Questions

Question 1

According to International Integrated Reporting Council (2013, p. 3):

All organizations depend on various forms of capital for their success. These capitals are stores of value that, in one form or another, become inputs to the organization’s business model. They are also increased, decreased or transformed through the activities of the organization in that they are enhanced, consumed, modified or otherwise affected by those activities.

a. One of these capitals used by our organisations is natural capital. What is natural capital and how can it be measured?

b. Identify the specific ways in which a large supermarket chain could increase and decrease its impacts on natural capital?

Question 2

In recent years, many countries including Australia, Malaysia, United Kingdom, India and Hong Kong, have seen the emergence of the ‘social entrepreneurship’ approach to responsible business.

a. What is ‘social entrepreneurship’ and how does this approach improve social, environmental and economic sustainability?

b. Describe in detail one example of a social enterprise and how it is addressing one or more of the UN Sustainable Development Goals?

Question 3

Both Annie Leonard (The Story of Stuff) and the Natural Step (Interface – the Journey of a Lifetime) identify ‘Closing the loop’ as being a key strategy for sustainable business.

a. Describe what was meant by ‘Closing the Loop’ and how this strategy can assist manufacturing businesses to increase their efficiency and reduce costs.

b. Discuss some of the actions taken by Interface to close the loop in their transition to becoming a more sustainable company.

Question d)

Complete the Global Footprint Network’s Ecological Footprint Calculator Quiz. When responding to the quiz questions, make sure you click on the ‘Add details to improve accuracy’ link to ensure your ecological footprint results are as accurate as possible.

Once you have read the results of this quiz, you need to:

• Copy & Paste your quiz results (or take a screenshot) – 2 screenshots required – your results must include:

- The page with your Earth Overshoot Day, and number of Earths we would need if everyone lived like you, AND, click on the See Details arrow/link;

- The more detailed results, which shows your footprint By Land Type, By Consumption Category, global hectares and carbon emissions;

• Reflect on these results:

i. To what extent do you believe your ecological footprint calculator results are (or are not) an accurate indicator of the environmental impacts of your lifestyle? Give reasons for your answer.

ii. To what extent do you believe sustainable consumption is (or is not) important for the health of local and global business activities. Give reasons for your answer.