Use this sustainable-production page to explain environmental methods and judge whether their benefits outweigh cost or production limits.
TJK manufactures candles. Contributing to sustainable development is important to TJK. The business uses batch production in its factory in country X. The target market for TJK's products is females between 20 and 50 years of age. The Managing Director is reviewing TJK's financial data. An extract is shown in Table 3.1. He is also considering the benefits to a business of becoming a multinational company.
Table 3.1
Explain two ways TJK could contribute to sustainable development.
Way 1:
Explanation:
Way 2:
Explanation:
LRL makes skincare products including face cream. It is a private sector business in country X . One of LRL's objectives is to contribute to sustainable development. Maintaining customer loyalty is important and the Marketing Director knows a business must have an appropriate marketing mix. He is analysing data to calculate the value of LRL's market share. An extract is shown in Fig. 3.1. The total value of sales of skincare products in country X for 2023 was $120 million.
Market share data for skincare products in country X in 2023 (\%)
Outline two ways LRL could contribute to sustainable development.
Way 1:
Way 2:
TBX manufactures high-quality steel which is used to build railways. The method of production used allows TBX to benefit from economies of scale. The business holds a high level of inventory including iron ore. The Managing Director knows business activity could have an impact on the environment and is considering ways the business can contribute to sustainable development.
Identify two ways a business could contribute to sustainable development.
Way 1:
Way 2 :