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Sustainability Worksheet

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Worksheet #3 Name: Kaitlynn Poston Please complete this worksheet by typing answers into the spaces under the questions asked. This worksheet is worth 25 points. Place it in the appropriate dropbox when you are finished. I have enabled the originality check. Do not cut and paste or directly quote from the text or other sources. If the originality check gives a score above 50% you will be asked to redo the assignment. By now you have received feedback on two worksheets. I will grade this one according to the same standards. Sustainability and International Business 1. Define sustainability. What is the triple bottom line and what is included in the triple bottom line concept? How is this an improvement in the strategy plans of a …show more content…

This is usually in reference to the resources of our environment so that future generations will be able to live like we have. In terms of business, sustainability can be defined as having minimal negative impact on the global or local environment, community, society, or economy. The triple bottom line is a framework, or measure, of sustainability made up of three parts: social, environmental, and financial. These three divisions are also referred to as the three P’s: people, planet, and profit and in turn are the three pillars of sustainability. The idea behind the triple bottom line concept is that companies are primarily responsible to all of their stakeholders, including everyone involved directly or indirectly with the company, as well as this planet. The triple bottom line concept is an improvement in the strategy plans of a manager over the old concept of a single bottom line for a few reasons. The triple bottom line concept has changed the way businesses measure sustainability and the performance of policies. The flexibility of the triple bottom line concept also allows businesses to apply the concept in a way that is most beneficial to their specific needs. It can also improve more than just a business’s financial line, it can improve the way people treat others within an organization as well as reduce their …show more content…

Historically, Jean-Baptiste Colbert is associated with mercantilism and he was Louis XIV’s Finance Minister. Mercantilism is a system of political and economic policy, which evolves with the modern national state and seeks to secure a nation’s political and economic supremacy in its rivalry with other states. It is the view that maximizing net exports is the best route to national prosperity and therefore that the only true measure of the wealth of a country was by the amount of gold that it had. Also when referring to mercantilism, it is in a country’s best interest to maintain a trade surplus; to export more than it imports. Mercantilism viewed trade as a “zero-sum game.” This is the view that a country cannot gain something without another country resulting in a loss. In reference to the Mercantilism video tutorial, he talks about a pie. In order for one person to gain a bigger piece of pie, another piece has to lose some. Self-sufficiency is extremely important when discussing mercantilism because if a country has to export more than it imports, they have to be able to be self-sufficient enough not to depend on imports from other countries. Mercantilism discourage imports because they are seen as a threat to domestic industries. Therefore, protection and regulation of foreign trade and production in their own country is crucial. To do this, the government would provide incentives in order to promote

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