MGMT 1000 Week 4 – including CSR Guest Speakers

Vicious Loops: eg. ebola vicious loop becomes virtuous loop bc ppl who are helped will help others

Negative aspects of profit motive:
Is profit motive a source of vicious loops? exploit environmental resources invest in child labour/outsourcing start looking for profit, end up losing it employment in domestic economy ppl start trusting brand less
GREED
LEADS TO SHORT TERM THINKING (no thinking of bottom line) corruption How to turn profit problem into virtuous loop:
Thinking TBL = core of starting virtuous loop increase quality/customer trust consider triple bottom line/multiple stakeholders incorporate CSR environmentally aware set reasonable goals Corporate Social Responsibility (CSR): applying practical, innovative and sustainable approaches to benefit society in general, with an emphasis on those marginalized and poor CSR guest speakers: Marc Soberano: business = opp to make pos. impacts in world, if you find solution viable to environment, competitors will follow you
Ashoka = energy eff = good for environment AND economy bc saves on bills Sameer Gulamani: KARIBU Solar Power travelled to Tanzania to find business, found that 75% ppl not connected to electrical grid started business by importing solar lanterns... but $15-25/lantern was unaffordable new business model = rent solar panel for $1/day, up to 30 days when they give it Steve Glassman: (York U bookstore owner) Vicious loop: book prices up = less ppl buy books = book prices go up again books prices inflate at twice/three times inflation rate
Jean Adam's class demonstrates sustainable practice