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5-1
Ethical Thought
Earth provides enough to satisfy every
mans need, but not every mans greed.
Mahatma Gandhi
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Natural Environment as a
Stakeholder
Considered a stakeholder without a voice
Decision makers would only consider the
natural environment as a stakeholder if the
consequences that impact the natural
environment also had an impact on the
performance evaluation of the firm or the
individual decision maker
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Natural Environment as a
Competitive Advantage
By focusing on environmentally friendly
strategies, firms are able to market their
goods as ecofriendly which helps
differentiate their products
Strategy 1: Ecoefficency
Strategy 2: Beyond Compliance Leadership
Strategy 3: Ecobranding
Strategy 4: Environmental Cost Leadership
Copyright 2009 Pearson Education, Inc. publishing as Prentice Hall
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Employees as Environmental
Stakeholders
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NGOs as Environmental
Stakeholders
Greenpeace
Sierra Club
Environmental Defense Fund
Friends of the Earth
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Cost savings
Increased profits
A cleaner environment
Access to technical assistance
A framework and strategy for improving
environmental performance
A network of business and industries interested in
becoming better environmental stewards
Public recognition
Copyright 2009 Pearson Education, Inc. publishing as Prentice Hall
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Environmental Auditing
Periodic, objective and documented
assessment of an organizations
operations compared to audit criteria
Allows management a measure of
ensuring that they are in compliance with
environmental regulations
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Environmental Justice
Systematic equal allocation of
environmental benefits and burdens
Evolved from the perception that lower
income areas with minority ethnic groups
within a community would receive a
disproportionate amount of environmental
burdens and a disproportionately low
allocation of environmental benefits
NIMBY Not in my back yard
Copyright 2009 Pearson Education, Inc. publishing as Prentice Hall
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Environmental Sustainability
Ability of an organization or country to protect the
use of future resources by properly maintaining
and protecting the resources that are currently
being used
Three major components:
A system to ensure the sustainable management of
the earths natural resources
The development of social and institutional structures
that would support the sustainable management of the
natural resources
Changes in the economic framework so it would
support the sustainable management of the earths
natural resources
Copyright 2009 Pearson Education, Inc. publishing as Prentice Hall
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Equator Principles
Adopted by financial institutions around
the globe
Provide a means for monitoring the
potentially adverse risks, both social and
environmental, that come with financing
projects around the globe
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