The Importance of Machine Learning and Building a Data Set in Business

Machine learning can significantly contribute to business’ efficiency. It can help identify which products and services sell well during defined periods, allowing companies to adjust their sales operations accordingly to improve their bottom line. Machine learning can also detect which parts of a business process are taking up too much time and resources, enabling companies to make improvements before profits are undermined.

Why Addressing Deforestation Makes Good Business Sense

Why Addressing Deforestation Makes Good Business Sense Banner Image

Deforestation can be detrimental and have serious effects on businesses. It can lead to resource depletion which can impede the generation of products and services. It can also aggravate the effects of natural disasters such as hurricanes, floods and heatwaves. Furthermore, stakeholder confidence is known to decrease for companies whose operations contribute to deforestation as stakeholders are more inclined to patronize a sustainable firm.

Policies to End Deforestation and Climate Change in Business Supply Chains

Policies to End Deforestation and Climate Change in Business Supply Chains Banner Image

Deforestation in Company Supply Chains Deforestation and climate change are worldwide problems. If not addressed they can have serious ramifications on businesses. Deforestation is a contributor to carbon emissions by destroying the world’s natural carbon sink and thereby contributing to climate change. Up to 2010, there was a net forest loss of 6.2 million hectares per year. As major sources of deforestation and emissions, businesses must seriously address both issues in their operations and supply chains. According to the Paris Agreement and the UN 2030 Agenda for Sustainable Development, a sustainable economy is not achievable without the committed involvement of businesses. However, this in turn is not possible without an enabling environment created by the right policies.

How Businesses Help Address Forced Labor and Slavery

How Businesses Help Address Forced Labor and Slavery Banner Image

Despite laws and regulations that prohibit their practice, forced labor and slavery are still widespread. According to a 2014 report by the International Labour Organization (ILO), roughly 21 million people are currently subject to forced labor. An estimated 68 percent of them are being exploited in the private economy, by individuals or enterprises, primarily in agriculture, construction, domestic work, manufacturing, mining and utilities.

Why Addressing Corruption Is a Key Component of Sustainability

Why Addressing Corruption Is a Key Component of Sustainability Banner Image

The term “sustainability” is popularly associated with environmental protection. What many people do not know is that eliminating corruption in all its forms is also important in achieving sustainability. Principle 10 of the UN Global Compact is, “Businesses should work against corruption in all its forms, including extortion and bribery.” It recognizes the fact that ethical business practices is a key component of sustainability.

How the Business Community Can Help Alleviate Poverty

How the Business Community Can Help Alleviate Poverty Banner Image

Poverty can have adverse effects on business operations. Poverty is often associated with illiteracy, which can affect productivity. Employees with poor literacy skills may struggle to fully understand workflow instructions. Consequently, they are prone to making work-related mistakes, resulting in lost profits and reduced customer confidence.

The Impact of Conflict Minerals on Business

Minerals are important ingredients in manufacturing. Gold and silver are used in jewelry, currency, computers, electronics and medicine. Copper is used in motors and electrical wiring. Cadmium is a main ingredient of batteries.

The Millennials’ Idea of a Sustainable Business

The Millennials' Idea of a Sustainable Business Image

Millennials (the demographic born between 1980 and 2000) are currently the largest generation of consumers in history. In 2014, Millennials aged between 17 and 34 were expected to spend at least USD 200 billion each year from 2017 onwards. This age demographic is also expected to spend around USD 10 trillion in their lifetimes.

The Importance of Supplier Risk Management

The Importance of Supplier Risk Management

Maintaining a good relationship with suppliers is important for organizations. How good is your relationship with your suppliers? Suppliers play a significant role in an organization’s supply chain.

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