MGMT 202 1st Edition Lecture 15 Outline of Last Lecture I. Nike Slogan and Tiger WoodsII. Ideal Decision MakingIII. Decision “Derailers”Outline of Current Lecture I. Sustainability – Introduction II. Economic Growth PerspectiveIII. Sustainable Development PerspectiveCurrent LectureThe idea of sustainability has been around since at least the 19th centuryJarod Diamond – found that companies that didn’t last had overused the environment (overfished a lake, etc)Montana – over logged Economic growth perspective – neoclassic; economist William Baxter (circular flow model – businesses sell things to homeowners, money that the business makes goes back to the employees/homeowners); take-make-waste – consumers make and use things then discard them and deplete natural resourcesEconomic growth model problems: can’t put a price value on clean water/air, beautiful scenery (public goods); doesn’t account for externalities; if one individual makes a decision that’s bad for the environment thinking “I’m just one person, it won’t make a difference” (e.g., buying an SUV) and everyone follows suit, it does make a huge difference!Sustainable development – economist Herman Daly – argued that you have to know the limits of how much the earth can produce/absorb and find an equilibrium – example, Interface – make products and take responsibility for recycling them at the end of the products’
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