Ray’s environmentally friendly enterprise has become very successful. It has resulted in a massive drop in the amount of raw materials that his company has to use to produce its carpets. This has reduced both costs and pollution. Fewer jobs are now involved in carpet manufacturing, however there has been a large increase in service staff needed to look after the upkeep of carpets. Overall, more jobs were created and the profitability of his business increased. According to Ray, ‘Environmental sustainability makes perfect business sense and it will continue to be a defining characteristic of successful businesses of the future.’
Pair work
Discuss your answers to the following questions: 1. Identify one economic benefit of Ray Anderson’s approach to business.
2. Identify one social benefit of Ray Anderson’s approach to business. 3. Identify one environmental benefit of Ray Anderson’s approach to business.
4. Identify one example of Ray’s entrepreneurial creativity in solving a problem.
Chapter Review Key Terms Checklist Using a pencil, place a ¸ in each box to indicate how
well you know and understand each Key Term. q I know and understand this Key Term. q I am still a bit uncertain about what this Key Term means. q I don’t understand this Key Term yet. When you revise each chapter, tick the boxes again to indicate how much you have learned.
1. 2.
Enterprise happens when an entrepreneur identifies a need, problem or an opportunity that is not being satisfied and then tries to do something about it.
An entrepreneur is someone who has initiative and takes the risk of setting up a new business or organisation.
