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Yorkville University *

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BUSI 4013

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Business

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Feb 20, 2024

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BUSI 4046/4053 Final Business Plan Professor – Joe Saunders Learning Activity 2 Name: Asmit Chaudhary ID: 2019110359
Title: My Business Idea: Creating a Sustainable Clothing Brand The fashion industry is not only one of the most profitable sectors in the global economy but also one of the most environmentally damaging. Environmental Analysis: To create a clothing brand that is both profitable and sustainable, it is crucial to understand the environmental challenges that the fashion industry faces. My research has highlighted three key areas that require attention: textile production, waste management, and carbon emissions. Textile Production: Textile production accounts for a significant portion of the fashion industry's environmental impact. The cultivation of cotton, for instance, involves the use of pesticides and large amounts of water. To address this issue, my clothing brand will prioritize the use of organic cotton, which is grown without harmful chemicals and requires less water. Additionally, I will explore alternative materials such as hemp and bamboo, which have a lower environmental footprint. Waste Management: The fashion industry generates an enormous amount of waste, with unsold and discarded clothing ending up in landfills. To combat this, my brand will implement a circular economy approach. This will involve designing durable, timeless pieces that can be repaired and recycled. In addition, I will establish a take-back program to encourage customers to return their clothing at the end of its life cycle, ensuring proper disposal or repurposing. Carbon Emissions: The fashion industry contributes significantly to greenhouse gas emissions, primarily through transportation and manufacturing processes. I will adopt a localized production strategy, partnering with local manufacturers to reduce transportation distances. Furthermore, I will prioritize energy-efficient production techniques and utilize renewable energy sources to minimize carbon emissions. Reflection on Peer Feedback : 1. What was most helpful: The feedback I received from my peers regarding my business idea was incredibly valuable. Many of them appreciated the emphasis on sustainability and the incorporation of organic materials. They found the circular economy approach and localized production strategy to be innovative and promising. 2. What I do not agree with:
Some peers expressed concerns about the potential higher costs associated with sustainable practices and materials. While it is true that sustainable production methods may initially incur higher costs, I firmly believe that these expenses can be offset in the long run through increased brand loyalty and reduced environmental impact. 3. Changes to my concept after receiving feedback: After considering the feedback, I have decided to further emphasize the educational aspect of my brand. Several peers suggested that educating consumers about the environmental impact of the fashion industry and the benefits of sustainable clothing could be a powerful tool in driving change. I will incorporate this feedback by including educational materials on my website and hosting workshops or events to engage with the community and spread awareness. REFERENCES
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T., & T. (2023, November 13). Sustainability in the Cotton Industry | From Field to Fashion. Blockchain for Food Safety, Traceability and Supplychain Transparency. https://tracextech.com/sustainability-in-cotton-industry/ https://core.ac.uk/download/pdf/301138773.pdf Berg, A., Granskog, A., Lee, L., & Magnus, K. H. (2020, August 26). Fashion on climate . McKinsey & Company. https://www.mckinsey.com/industries/retail/our-insights/fashion-on-climate