- "Consumerism is a social and economic order in which the goals of many individuals include the acquisition of goods and services beyond those that are necessary for survival or for traditional displays of status."
Consumerism has led to corporate social responsibility and ethical consumerism, where consumers seek to purchase goods and services from companies that uphold ethical and sustainable practices.
Definition of Corporate Social Responsibility (CSR): A comprehensive definition of CSR and its purpose in today's business world.
Stakeholder Theory: The concept that companies should consider the interests of all stakeholders in their decision-making, including customers, employees, suppliers, and the wider community.
Triple Bottom Line (TBL): An accounting framework consisting of three pillars: economic, social, and environmental, used to measure a company's overall performance.
Sustainability: The ability of a company to meet its needs without compromising the ability of future generations to meet their needs.
Ethical Business Practices: Conducting business in a way that is transparent, fair, and honest.
Green Marketing: The practice of promoting environmentally friendly products and services to consumers.
Cause Marketing: The use of a social cause or issue to promote a product or service.
The Impact of Consumerism on Society: The ways in which consumerism affects society, including its impact on the environment, human rights, and the economy.
Corporate Social Responsibility Reporting: The process of disclosing a company's social and environmental performance to stakeholders.
Socially Responsible Investing (SRI): The practice of investing in companies that meet certain ethical standards.
Corporate Governance: The systems and processes by which companies are directed and controlled.
Corporate Philanthropy: The practice of donating money or resources to charitable causes.
Supply Chain Management: The management of the flow of goods and services from suppliers to customers.
Environmental Management Systems (EMS): The systematic management of environmental impacts and risks.
Human Rights and Labor Practices: The treatment of workers and respect for human rights in business operations.
Ethics Training: The training that helps organizations to promote ethical behaviour among employees.
Social Auditing: The process of evaluating a company's social and environmental performance.
Codes of Conduct: The set of rules and principles that guide an organization's behaviour.
Stakeholder Engagement and Dialogue: The communication and collaboration with stakeholders to identify and address social and environmental concerns.
Measuring and Reporting on CSR Initiatives: The process of measuring the social and environmental impact of corporate initiatives and reporting on that impact.
Environmental Responsibility: It involves company initiatives to prevent or minimize environmental damage caused by their operations or products.
Philanthropic Responsibility: It involves charitable donations or social initiatives to support the community or social causes. It may include programs such as volunteering, grants, scholarships, donations, or disaster response efforts.
Ethical Responsibility: It includes ensuring that a company acts ethically, transparently, and does not cause harm or injustice to their employees, customers, suppliers, and partners.
Economic Responsibility: Companies need to conduct business in a manner that is profitable, sustainable, and fair to all relevant parties without exploiting the resources.
Employee Responsibility: It involves providing employees with a fair and safe working environment that ensures fair compensation, job security, training, development opportunities, and work-life balance.
Legal Responsibility: It is a basic business responsibility to comply with all the laws and regulations related to their industry or country and avoid any violations.
Supply Chain Responsibility: This includes the social and environmental responsibility of the suppliers, manufacturers, and distributors in a company's supply chain.
Consumer Responsibility: It involves consumer protection, product safety, education and information, and ethical advertising practices.
Stakeholder Responsibility: Companies must maintain a positive and ethical relationship with all their stakeholders, including shareholders, customers, employees, suppliers, and the community.
Corporate Governance: It includes the way a company is managed, structured, and controlled to ensure ethical and responsible decision-making, transparency, and accountability at all levels of an organization.
- "Consumerism has historically existed in many societies, with modern consumerism originating in Western Europe before the Industrial Revolution and becoming widespread around 1900."
- "In 1899, a book on consumerism published by Thorstein Veblen, called The Theory of the Leisure Class, examined the widespread values and economic institutions emerging along with the widespread 'leisure time' at the beginning of the 20th century."
- "Veblen 'views the activities and spending habits of this leisure class in terms of conspicuous and vicarious consumption and waste. Both relate to the display of status and not to functionality or usefulness.'"
- "Experts often assert that consumerism has physical limits, such as growth imperative and overconsumption, which have larger impacts on the environment, including direct effects like overexploitation of natural resources or large amounts of waste from disposable goods, and larger effects like climate change."
- "Consumerism has physical limits, such as growth imperative and overconsumption, which have larger impacts on the environment, including direct effects like overexploitation of natural resources."
- "Consumerism has physical limits, such as growth imperative and overconsumption, which have larger impacts on the environment, including direct effects like [...] large amounts of waste from disposable goods."
- "Consumerism has physical limits, such as growth imperative and overconsumption, which have larger impacts on the environment, including [...] larger effects like climate change."
- "Consumerism has been widely criticized by both individuals who choose other ways of participating in the economy [...] and experts evaluating the effects of modern capitalism on the world."
- "Experts often assert that consumerism has physical limits, such as growth imperative and overconsumption, which have larger impacts on the environment."
- "Similarly, some research and criticism focuses on the sociological effects of consumerism, such as reinforcement of class barriers and creation of inequalities."
- "Veblen 'views the activities and spending habits of this leisure class in terms of conspicuous and vicarious consumption and waste."
- "In an abstract sense, it is the consideration that the free choice of consumers should strongly orient the choice by manufacturers of what is produced and how, and therefore orient the economic organization of a society."
- "Consumerism has historically existed in many societies, with modern consumerism originating in Western Europe before the Industrial Revolution and becoming widespread around 1900."
- "In 1899, a book on consumerism published by Thorstein Veblen, called The Theory of the Leisure Class, examined the widespread values and economic institutions emerging along with the widespread 'leisure time' at the beginning of the 20th century."
- "Consumerism is a social and economic order in which the goals of many individuals include the acquisition of goods and services beyond those that are necessary for survival or for traditional displays of status."
- "Similarly, some research and criticism focuses on the sociological effects of consumerism, such as reinforcement of class barriers and creation of inequalities."
- "In an abstract sense, it is the consideration that the free choice of consumers should strongly orient the choice by manufacturers of what is produced and how."
- "Veblen 'views the activities and spending habits of this leisure class in terms of conspicuous and vicarious consumption and waste."
- "Consumerism has been widely criticized by both individuals who choose other ways of participating in the economy [...] and experts evaluating the effects of modern capitalism on the world."