Please review to familiarize yourselves with some of the terms we will be using throughout the competition journey.
Circularity In a sustainable circular economy, once the user is finished with the product, it goes back into the supply chain instead of the landfill.
Greenwashing Deceptive marketing persuades the public that an organization’s products and policies are more environmentally friendly than they are.
Net zero Completely negating the amount of greenhouse gas/carbon dioxide produced by human activity.
Regenerative future Building a healthy and sustainable world for future generations that positively impacts the environment, society, and the economy.
Social protections Policies or practices that prevent, manage and overcome situations that adversely affect people’s well-being.
Social entrepreneurs Individuals or teams that develop, fund, and implement innovative solutions to solve social, cultural, or environmental issues.
Social Enterprise Doing business for a cause. “A social enterprise or social business is defined as a business with specific social objectives that serve its primary purpose. Social enterprises seek to maximize profits while maximizing benefits to society and the environment, and the profits are principally used to fund social programs.”
Social Venture Any enterprise launched by a social entrepreneur contributes to a better society while making a profit.
Stakeholder capitalism Sustainable business practices that achieve more than high profits and stock prices by focusing on the well-being of every participant in its value chain.
Upcycling Transforming low-value used materials into completely new high-value products.
Value chain The end-to-end process of adding value to the products being produced by a particular industry, from refining raw materials and manufacturing goods to marketing and distributing products.
Virgin materials Natural resources are extracted in their raw form for industrial or manufacturing purposes.
Measures of Success (MoS)
A measure of success is a standard by which a person or entity assesses whether or not they’ve achieved their goals. There’s no single true measure of success, and successful people use a variety of benchmarks to evaluate their personal and professional achievements. For a business, an MoS should be a quantifiable measurement that track to see if strategies are working effectively.