Sustainability in Fashion Industry, Essays (university) of Fashion Business Basics

Download Sustainability in Fashion Industry and more Essays (university) Fashion Business Basics in PDF only on Docsity! Sustainability in Fashion Industry Subject: Business Studies University of California Sustainability has become a popular term in recent times. The concept of sustainability has become popular in response to current crisis of climate change. Though sustainability itself is a bigger concept and not restricted to being responsible only about environment. Sustainability is about running processes, particularly businesses, in such a way that it does not create negative impact harming the running of those processes or businesses itself (Diesendorf, 2000). As sustainability, particularly related to environmental concern, has become popular so it has impacted every section of industry. Fashion industry has always been among trend setter and it can no longer ignore this concept. The $ 2 trillion industry has also been estimated to contribute to 10% of all carbon footprints, so it is also under pressure to improve its sustainability efforts. Sustainability & Business Business sustainability is closely related to stakeholders’ concept. Stakeholders concept points that businesses do not run in isolation but run smoothly because of environment, communities and governments support. So, Businesses have a responsibility toward environment, communities and political stability apart from its responsibility toward owners, employees and customers. If the environment becomes unstable then its impact will be on businesses also and their operations would be impacted. So, Businesses have a responsibility toward preserving the environment which preserves them. Sustainability though also means that communities provide workforce SUSTAINABILITY IN FASHION and the businesses must give back to communities by helping with social measures including education and poverty alleviation. In recent times as the concern around climate has grown, so has consumers started to make lifestyle changes so as to not harm environment. They also expect the same from businesses and they are viewing closely as which of their brands are socially responsible (Joy & Pefia, 2017). Sustainability and Fashion Industry Economic Perspective Quality Productivity To enable a better world, companies should ensure that they are not merely driving consumption but also productivity. Productivity would mean adding efficiency to the world, through production of quality goods and services. To sell sub-par goods using false advertisement would not be an act considered to be contributing to sustainable development. Companies which are committed to sustainable development would not indulge in such practices. In Fashion industry the top brands are known for their quality products. There have been cases of a new entrant driving on mere marketing including celebrity endorsement to become a flavor of a season, but many have lost the gained market share due to their inferior quality product. Delivering quality products and services is not only helpful for the world but also helpful for a brand to become strong in long run (Dabija, & Pop & Szentesi, 2014). Concept of Triple Bottomline SUSTAINABILITY IN FASHION Wastes do not get disposed easily and many of them decompose over years releasing methane gases in the process. Release of methane gas by wastes do damage our Ozone layer, thereby waste management has become an important topic (Hamzaoui- Essoussi, & Linton, 2010). Use of wastes to develop new products is called as recycling of products. This reduces wastes created apart from delivering other benefits. The technologies used to convert wastes into useful products can be termed eco-friendly technologies. Individuals should also donate their cloths to poor instead of dumping them. There have been few startups who are using old cloths to make new designs. Their success or failure is still not known. Conclusion Every industry including Fashion industry must understand the concept of triple bottom line is real and logical. If the needs of Planet and People are not balanced with the need for profit then the earth or community may not exist to sustain the Industry or any business. Consumers have become more concerned as to whether companies are socially responsible or not. They are rewarding and punishing brands on basis of the perception being created. Consumers know now clearly that socially responsible businesses are their friends while others are not. This trend is expected to build up as climate goals have not been met and masses are angry. Adopting sustainability goals are profitable for fashion industry in many specific ways. One of them is that accounting for diversity and inclusion can help provide company with people from different backgrounds bringing new perceptions. Innovation is key in fashion industry and diversity can provide competitive edge. There are expectations that consumers would prefer eco-friendly SUSTAINABILITY IN FASHION clothes in future and the industry must become awake to prepare for a future. Prepare for a better future. SUSTAINABILITY IN FASHION References Peters, G. & Granberg, H. & Sweet, S. (2014). The role of science and technology in sustainable fashion. Hamzaoui-Essoussi, L. & Linton, J. (2010). New or recycled products: How much are consumers willing to pay?. Journal of Consumer Marketing. 27. 458-468. 10.1108/07363761011063358. Merk, J. (2008). Restructuring and Conflict in the Global Athletic Footwear Industry: Nike, Yue Yuen and labour codes of conduct. Ciarniene, R. & Vienazindiene, M. (2014). Management of Contemporary Fashion Industry: Characteristics and Challenges. Procedia - Social and Behavioral Sciences. 156. 10.1016/j.sbspro.2014.11.120. Montoya, J. (2015). Designing sustainable supply chains based on the Triple Bottom Line approach. 1-6. 10.1109/ICAdLT.2015.7136581. Dabija, D. & Pop, N. & Szentesi, S. (2014). A customer-oriented perspective on retail brand equity in the fashion industry. Industria textila. 65. 37-46. Abdelhamid, A. (2018). Gated urban communities and their fashion consciousness, Stark Fashion Journal. Diesendorf, M. (2000). Sustainability and sustainable development. Sustainability: the Corporate Challenge of the 21st Century. 19-37.