Applied business Project Assessment 1

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3102

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Management

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Nov 24, 2024

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docx

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Sustainable and innovation integration in shoe companies in the USA and its impact on the circular economy Submitted To Evi Lanasier Student Name & Id Sunny (s4674349) Amit Kumar (s4643553) 1

Table of Contents 1.0 Introduction .......................................................................................................................... 3 1.1 Background of the Research ............................................................................................ 3 1.2 Problem Statement ........................................................................................................... 4 2.0 Research Question and Objectives ....................................................................................... 4 3.0 Literature Review ................................................................................................................. 5 3.1 Issues associated with the manufacturing of the shoes and perception of companies in undertaking innovation ........................................................................................................... 5 3.2 Critical review of the link between innovation, economy, and sustainable practices in the manufacture of the shoes .................................................................................................. 5 3.4 Successful implications of sustainable practices in footwear products and on the circular economy .................................................................................................................... 6 4.0 Conclusion ............................................................................................................................ 7 Reference List ............................................................................................................................ 8 2

1.0 Introduction 1.1 Background of the Research The context of the research is focused on the understanding and critical evaluation of impact of sustainable and innovative performances of shoes companies in USA and its link to the circular economy. According to the study of Schwab et al . (2009), teenagers are very much fascinated with the wearing of stylish shoes and sneakers. However, the users have been unknown of the materials that are used for the manufacturing of the sneakers like the harmful chemicals being present. The harmful chemicals are being known to either dumped in the landfills or being washed to the drains that do flow to the local areas. Mainly the adverse environmental impacts are caused even due to the throwing of the sneakers into the trash which do results in the form of garbage. The toxic chemicals do create harmful impact on the environment. USA have been a developed country where with the high-income standards, the presence of the Gen Z and the Millennials are common and so are the demands of the stylish apparels and wearables. From the statistical presentation, it has been evidenced that in USA, the revenue earned by the footwear market itself has been US$88bn (statista, 2023). This figure does clearly indicate of the high demand of the wearable shoes and footwear products among the users. Figure 1: Revenue of footwear products in USA by segments (Source: statista, 2023) 3

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