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Paramo won a business sustainability award in 2016

Business Mar 10, 2021

Paramo won a business sustainability award in 2016. Describe how the company's business practices allowed it to become recognized for its bold moves. How do these initiatives help build competitive advantage? 

 

Expert Solution

Answer:

Paramo was recognized for it's bold moves when it was awarded the Guardian Sustainable Business Award under the Bold Moves category. A significant part of Paramo's business practices that allowed this to happen was its Greenpeace Detox Commitment. This was a campaign which Paramo committed to ensure that no hazardous, toxic and persistent pollutants are used in its manufacturing of textiles. They were actually the 1st outdoor textile company in the industry to do this, gaining competitive advantage. Since then consumers have started to become aware and educated in advocating against textile manufacturers who use PFCs or poly-fluorinated compounds and thereby advocating for companies, like Paramo, who did not use this harmful compound.

 

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