Basic Concepts of Sustainable Development for Business Students

Peter N. Nemetz

Peter N. Nemetz

University of British Columbia, Canada

Volume 1 Issue 1: 2004, pp. 23-90; ABSTRACT

The recently completed World Summit on Sustainable Development in South Africa, convened to assess global progress since the landmark Rio conference of 1992 (UN, 1992), has reaffirmed the international commitment to the concept of sustainability. One result of this conference will be increasing pressure upon the business community to incorporate principles of sustainability into their business practices. Several critical questions face managers and owners unfamiliar with this potential new threat to business as usual: What is sustainable development? How should business respond? What kind of opportunities and threats lie in the new business environment, and how are such conditions related to sustainable development? Are the opportunities and threats related to each company's ability to achieve or move closer to sustainable development, or do opportunities and threats arise from implementing sustainable development practices? This paper attempts to answer these questions and provide an introductory guide to issues of sustainable development and associated analytical tools for business school students at both the senior and MBA levels.

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