Since the rise in globalization and consumerism the world`s leaders become increasingly aware of the negative consequences that are leading to a global climate crisis. Nowadays almost everyone is aware that climate action becomes a necessity instead of an option in order to find a solution for this problem to save the planet. One approach of how to reduce the carbon footprint is the right technique of waste management. The most commonly known process is called Recycling which consists of collecting used materials, reprocessing the waste material into a secondary material into its raw ingredients in order to be able to use this material for new product production. In other words creating a new durable product that is made of waste is the ideal choice to support the environmentally friendly way of living and contributing to our planet. The current times just make it a necessity for every business to act ethically and to have sustainable processes in place that contribute to the purpose economy. It is relevant to change the primary goal of businesses from “profit maximization no matter the costs” to first having sustainable methods in place that protect humanity and future generations.
This leads to the main purpose of this essay consisting of explaining the meaning of purpose economy and sustainable development to business. In short, the purpose economy consists of the idea of having a business which has a green economy that helps the planet instead of destroying it. Further the sustainability consists of three main aspects (Social, Ecological and Economic) and aims on acting in an ethical way with the purpose of not harming future generations. This will be properly illustrated by the help of using a real case, the US clothing brand “Patagonia”. Patagonia is an US clothing brand that was founded by Yvon Chouinard in the year 1973 and is known for producing sustainable outdoor clothing. Since the whole clothing industry contributes up to 10% of the pollution which worsens the climate crisis, this company illustrates a perfect example of how to be a leading model for other companies of running a sustainable business.
Inhaltsverzeichnis (Table of Contents)
- Introduction
- Argumentation
- Meaning of Purpose Economy illustrated with a case example
- Conclusion
- References
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
The objective of this essay is to explain the meaning of purpose economy and sustainable development in business, using Patagonia as a case study. It aims to demonstrate how businesses can integrate sustainable practices and contribute to a positive societal and environmental impact.
- The meaning of purpose economy and its implications for businesses.
- The importance of sustainable development and the 17 Sustainable Development Goals.
- The interplay between purpose economy and sustainable development.
- Patagonia's business model as a successful example of a purpose-driven and sustainable company.
- The evolving role of businesses in addressing environmental and social challenges.
Zusammenfassung der Kapitel (Chapter Summaries)
Introduction: This introductory section sets the stage by highlighting the growing global awareness of the climate crisis and the urgent need for climate action. It introduces the concept of the purpose economy, emphasizing a shift from profit maximization to sustainable practices that prioritize human well-being and environmental protection. The essay focuses on defining purpose economy and sustainable development in the context of business, using the clothing brand Patagonia as a prime example of a company successfully integrating these principles. The “what” and “why” questions are outlined to guide the reader through the essay's structure and arguments.
Argumentation: Meaning of Purpose Economy illustrated with a case example: This section delves into the meaning of purpose economy, drawing on an article that describes its evolution from previous economic models. It highlights the importance of purpose and meaningful work, emphasizing the human aspect and the need for businesses to serve both people and the planet. The main example used is Patagonia, a company demonstrating how profit generation can be integrated with commitment to environmental protection and ethical labor practices. Patagonia's actions, such as donating a percentage of sales to environmental organizations, using recycled materials, employing fair trade practices, and implementing renewable energy, showcase how a business can operate within the purpose economy. The section reinforces the argument through a supporting article emphasizing the pressure on businesses to adopt purpose-driven models in response to increasing customer demand for ethical and environmentally conscious practices.
Schlüsselwörter (Keywords)
Purpose economy, sustainable development, Patagonia, corporate social responsibility, environmental sustainability, ethical business practices, recycled materials, fair trade, renewable energy, climate crisis, sustainable business models.
Frequently Asked Questions: A Comprehensive Language Preview
What is the main topic of this essay?
The essay focuses on explaining the meaning of purpose economy and sustainable development in business, using Patagonia as a case study to demonstrate how businesses can integrate sustainable practices and contribute to a positive societal and environmental impact.
What are the key themes explored in the essay?
Key themes include the meaning and implications of the purpose economy for businesses, the importance of sustainable development and the 17 Sustainable Development Goals, the interplay between purpose economy and sustainable development, Patagonia's business model as a successful example, and the evolving role of businesses in addressing environmental and social challenges.
What is the purpose economy, and how does it relate to sustainable development?
The purpose economy represents a shift from profit maximization to sustainable practices that prioritize human well-being and environmental protection. It emphasizes the importance of purpose and meaningful work. Sustainable development, with its 17 goals, is intrinsically linked, as businesses operating within a purpose economy actively contribute to environmental and social sustainability.
How does Patagonia serve as a case study?
Patagonia exemplifies a successful purpose-driven and sustainable company. The essay highlights Patagonia's actions, such as donating to environmental organizations, using recycled materials, employing fair trade practices, and implementing renewable energy, to illustrate how profit generation can be integrated with environmental protection and ethical labor practices.
What are the chapter summaries?
The introduction sets the stage by highlighting the climate crisis and introduces the purpose economy. The argumentation section delves into the meaning of the purpose economy, using Patagonia as a prime example, and reinforces the argument with supporting evidence. The conclusion (not explicitly detailed in the provided summaries) would likely summarize the findings and reiterate the importance of purpose-driven and sustainable business models.
What keywords are associated with this essay?
Keywords include purpose economy, sustainable development, Patagonia, corporate social responsibility, environmental sustainability, ethical business practices, recycled materials, fair trade, renewable energy, climate crisis, and sustainable business models.
What is the overall objective of the essay?
The essay aims to explain the meaning of the purpose economy and sustainable development in business, using Patagonia as a compelling example to showcase how businesses can successfully integrate these principles and contribute to positive societal and environmental impact.
What is included in the Table of Contents?
The table of contents includes an introduction, argumentation (with a specific focus on the meaning of purpose economy illustrated with Patagonia's case example), a conclusion, and references.
- Arbeit zitieren
- Yannick Wichert (Autor:in), 2021, Meaning of Purpose Economy and Sustainable Development to Business Based on the Example of the Clothing Brand "Patagonia", München, GRIN Verlag, https://www.grin.com/document/1183585
