Literature Reflection
As reported in the presentation, the changing needs of women in terms of clothing versus the reality of purchasing power and productivity. This bibliography will mainly concentrate on female consumer psychology, fashion sustainability, shared economy and stakeholder theory.
The article “Consumer Behavior: Women and Shopping”(Huddleston and Minahan 2011) highlights the complex relationship between women and shopping, and explores the various factors that influence women’s purchasing decisions. The authors argue that women’s shopping behavior is shaped by a variety of factors, including power and independence, creativity and self-identity, and meeting emotional needs. Honesty, this writing focuses primarily on marketing upgrades and macro-analysis of women’s shopping journey, but also explains the multiple psychological causes of women’s shopping in the process, which provides some evidence of the validity of the phenomenon reported on presentation. To emphasize, shopping for women is not simply a matter of buying, but a psychological release: it is about positive distraction, escape, indulgence, elevation of self esteem, activation, sense of control and social connection.
Based on finding above, it must be admitted that women’s shopping behaviour is repetitive and does not stop when they already have something, and this poses a great challenge to the fashion industry, both in terms of objective productivity and ethics. Therefore, the aim of Todeschini et. al., (2017) is to investigate innovative business models in the fashion industry that have sustainability as their defining characteristic, especially in terms of value proposition. Essentially, this study aims to understand the entrepreneurial dynamics of sustainable business models in the resource-intensive fashion industry. It combines a systematic literature review with empirical research including interviews with specialists and case studies of innovative, sustainably-focused fashion startups. The study proposes a framework for trends, drivers, opportunities, and challenges in sustainable business models in fashion.
In Todeschini’s theory, sharing economy is one of the many emerging entrepreneurial approaches that address sustainable issue. According to Martin(2016), the sharing economy includes a variety of online peer-to-peer economic activities, including Airbnb’s rentals, Uber’s for-profit services and Freecycle’s gifting systems. the success of Airbnb and Uber has sparked debate about the potential benefits and drawbacks of the sharing economy. However, all frameworks for the sharing economy have an innovative vision that aims to decentralise and disrupt established socio-technical and economic structures. Six methods of sharing economy are framed respectively (1) as an economic opportunity; (2) as a more sustainable form of consumption; (3) as a pathway to a decentralized, equitable, and sustainable economy; (4) as creating unregulated marketplaces; (5) as reinforcing the neoliberal paradigm; and (6) as an incoherent field of innovation. Last but not least, Martin points if the sharing economy continues on the path of corporate collaboration, it is unlikely to drive the transition to sustainability. Therefore, there is still a long way for sharing economy to accomplish sustainable goals while at least, this concept shows the potential and theory supporting for vision of sustainability.
Moreover, in respect of stakeholder, Laplume et al. (2008) conducted a content analysis of 179 articles that directly addressed Freeman’s work on stakeholder theory. The study revealed five main themes: stakeholder definition and salience, stakeholder actions and responses, firm actions and responses, firm performance, and theory debates. The findings provide insights into how stakeholders and firms interact, and highlight key debates within the literature on stakeholder theory. This study adds to the existing body of research on stakeholder theory by identifying and analyzing the major themes and trends in the literature. Furthermore, Minming(2021) concludes 10 types of stakeholder in business which can be divided into internal or external, primary or secondary and direct or indirect. The stakeholder illustration in former presentation is also inspired under her guidance.
Reference
1.Huddleston, P. and Minahan, S(2011). Consumer behavior: Women and shopping [e-book]. Business Expert Press. Available at: https://www.businessexpertpress.com/books/consumer-behavior-women-and-shopping/ [Accessed 13 Apr. 2023].
2.Villa Todeschini, B., Cortimiglia, M. N., Callegaro-de-Menezes, D., & Ghezzi, A. (2017). Innovative and sustainable business models in the fashion industry: Entrepreneurial drivers, opportunities, and challenges. Business Horizons, 60(6), 759-770.
3.Martin, C. J. (2016). The Sharing Economy: A Pathway to Sustainability Or A Nightmarish Form of Neoliberal Capitalism?. Ecological Economics,volume 34, issue 6 .
4.Laplume, A. O., Sonpar, K., & Litz, R. A. (2008). Stakeholder Theory: Reviewing A Theory That Moves Us. Journal of Management. Available at: https://journals.sagepub.com/doi/10.1177/0149206308324322 [Accessed 13 Apr. 2023].
5.Minning, L. (2021). The 10 Types of Stakeholders That You Meet in Business[Website], Active Campaign. Available at: https://www.activecampaign.com/blog/types-of-stakeholders [Accessed 13 Apr. 2023].