1. BU6019 Sustainable Entrepreneurship
“Legislation and Self-Regulation”

2. Now we’ll move on to legislation/self regulation!
Consider: Q1: In terms of sustainable Entrepreneurship, why be concerned about legislation or self-regulation? Q2: What are the consequences for entrepreneurs who fail to comply with laws, regulations or codes of practice surrounding sustainability? Working in small groups, please discuss the two questions above and share your answers later!

3. It’s good to think!
Depending upon the “legal entity” of the enterprise, it may be necessary to follow regulations relating to government bodies such as “Companies House”, or the “Charity Commission”.
Working in some industries, there may be an expectation that entrepreneurs will voluntarily follow a “code of Practice” in the interest of stakeholders (i.e. self-regulation)
Some entrepreneurs will work towards accreditation of awards such as ISO14001 (self-regulation)
Laws and regulations often dictate how entrepreneurs must behave in relation to sustainable Entrepreneurship (e.g. The Environmental Protection Act 1990)

4. Keep thinking…. How does legislation and self-regulation relate to:
The Transformation Process
The Triple Bottom Line
Self Study – Spend some time exploring various topics we have discussed during this course! (such as Ethical Values, CSR, Agenda 21, the United Nations, and so on…)

5. The Organisation for Economic Co-Operation and Development (OECD)
This body has 34 countries as members
Its work includes the encouragement of governments (members) to share experiences and work together on aspects such as social well-being and environmental change
It will often focus on topics such as the safe use of chemicals for example
Self-study: Explore the OECD’s approach to Environmental Performance Reviews (EPRs) which it conducts (member) country by country!

6. What can Entrepreneurs really do?
Consider:
Naturally, there are many industry-specific laws, regulations and codes of practices. (Far too many to list). Obvious examples are storage and use of chemicals, health safety and welfare, disposing of waste etc
Think about:
ISO14001 – Certificate (assessed) to show the organisation is taking steps to reduce waste, energy etc. Good for stakeholder perception!
EMAS – The EU “Eco-Management and Audit Scheme. Organisations can register worldwide for advice on assessing and improving their environmental performance
Sustainability Standards/Certificates – for example, Fairtrade label, organic standard, etc
SA8000 Standard – A certificate for ‘decent workplaces’, provided by “Social Accountability International” (SAI) which, for example, protects child labour
Also: Consider ‘self-regulation’ such as M&S’s Plan A, etc!

7. Conduct some research!
For example: Levi-Strauss has set out clear environmental requirements: “We will only do business with partners who share our commitment to the environment…” Note: Contractors used by Levi that do not comply will be given an opportunity to create an ‘Action Plan’, to show how they intend to improve their operations. If they don’t improve, Levi will terminate their contracts!

8. Do consider: What else can you add?
Sustainable Entrepreneurship is all about:
The Transformation Process and the Value Chain (Lean Operations, etc) Stakeholders Perception/Relationships (Image and reputation)
5 Performance Objectives/7Ps being monitored from a “green” point of view
Avoiding “Green Washing”
Nature – and protection of future generations
Being better than competitors! (Materials, packaging, energy etc, etc)
Careful use of resources (think scarcity!)
Passion, belief and .. taking on challenges in Sustainable Development!
What else can you add?

9. And finally…
Your last session of BU6019!
I hope you have enjoyed this course!
If we can perhaps change our thinking and behaviour as entrepreneurs, and consider re-using, recycling and reducing, then we can all make a difference to the management and monitoring of the TBL!
Very best of luck with your assessment- ………..and, of course, your future!