After watching the youtube videos regarding sustainability, I definitely agree with businesses assuming a greater role in society today. It is certainly hard to bring up sustainability today with businesses because they are so preoccupied with their own needs and goals.
Lululemon's sister company, OQOQO (pronounced "oh ko ko"), brings an earth friendly approach to casual athletic clothing. All OQOQO garments are to be made with at least 75% natural, organic or sustainable fabrics such as bamboo, organic cotton, hemp, etc. These garmets are also to be coloured with eco-friendly dyes. This new label is trying to reach a goal of using 100% renewable resources to produce their clothing. In my opinion, this company is definitely taking sustainability into their own hands. They are not only worried about profits or stakeholders, but also the environment and society as a whole. This new line of clothing is really beneficial because of all the reusable products! As a consumer, I would absolutely not hesitate to go OQOQO or Lululemon to purchase casual athletic clothing.
Tuesday, January 11, 2011
Business Ethics & Social Responsibilities
We all know what ethics and social responsibilities are but how do we apply them to business? In business, ethics is the behavior that a business adheres to in its daily routine. Larger organizations or publicly held companies often use corporate governance to uphold business ethics and social responsibility. They create a framework of policies and guidelines for all individuals related to the company. Both employees and employers are expected to stick by these ethics and at times, there may be disagreements but ultimately, they must choose to agree with these ethics. Social responsibilities are also to be promoted throughout the company. Companies today are expected to have greater social responsibility because they also use resources that we, people, use. If they are abusing these limited resources, then there would be a penalty. It is important for companies to abide by the laws and assume their role in society. By becoming more socially responsible, consumers become more willing to invest in the company's product or service. This is certainly a win-win situation.
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