3.5 Key Terms
- Sustainable Solutions: Innovative approaches to persistent global issues that integrate environmental and social responsibility.
- Market Gaps: Opportunities in the market where consumer needs are not being met by existing, traditional business models.
- Eco-conscious Consumers: A growing group of customers who prioritize social and environmental values and are willing to support businesses that align with those principles.
- Consumer Values: The beliefs and principles that influence a consumer’s purchasing decisions, in this context, their preference for ethical and sustainable products.
- Circular Economy: A model of production and consumption that aims to keep products and materials in use for as long as possible, reducing waste.
- Innovative Business Concepts: Creative and non-traditional business ideas that integrate the three pillars of sustainability (People, Planet, Profit) from the outset.
- Technology for Sustainability: Using technological advancements to improve efficiency, reduce environmental impact, and enhance sustainable practices.
Innovative approaches to persistent global issues that integrate environmental and social responsibility.
Opportunities in the market where consumer needs are not being met by existing, traditional business models.
A growing group of customers who prioritize social and environmental values and are willing to support businesses that align with those principles.
The beliefs and principles that influence a consumer’s purchasing decisions, specifically their preference for ethical and sustainable products.
An economic system aimed at eliminating waste and the continuous use of resources, where products and materials are kept in use for as long as possible.
Creative and non-traditional business ideas that integrate the three pillars of sustainability (People, Planet, Profit) from the outset.
Using technological advancements to improve efficiency, reduce environmental impact, and enhance sustainable practices.
The effect a business’s operations have on the natural world.
