Business sustainability is often defined as managing the triple bottom line – a process by which companies manage their financial, social and environmental risks, obligations and opportunities. These three impacts are sometimes referred to as profits, people and planet (Financial Times).
Learn about sustainable business with an activity: HOTBOX 500
Hotbox 500 provides a unique opportunity for students to develop their entrepreneurial skills for community and environmental benefit.
Pupils explored topics such as sustainable business, social enterprise and the impact businesses have on the environment. Pupils were introduced to the idea of flourishing organisations, creative thinking, sustainable business modelling and entrepreneurship. Students applied their creative, innovative and enterprise skills in practical activities that support enterprise and entrepreneurial thinking and abilities. The workshop/event further developed skills essential for business and their future career.
OBJECTIVES: To devise innovative business proposals and prototypes to transform a waste asset into something that could be sold or traded; a product/service that creates impact for the community while also demonstrating a sustainable approach to using physical resources to achieve this, respecting the natural environment.
In setting out to achieving this objective it is anticipated learners were able to:
- Explore sustainable business modeling
- Develop creative thinking
- Present in a Real world format
- Evidence the power of group work as more ideas are created through team work
HOTBOX 500: in short, a company is asked to donate 500 units of a product. Given the sustainability element of this project these are typically products that would otherwise be recycled or go direct to landfill. The aim of the activity is for students to repurpose these products in another context.
More information about HOTBOX 500:
Schiffmann, S., Beaumont, E. (2016) Hotbox 500. Experiential Entrepreneurship Exercises Journal. Vol. 1, Issues SI-ETC. pp. 50 – 52. Available at: http://docplayer.net/37410706-Experiential-entrepreneurship-exercises-journal.html