SUSTAIN 1S03 Lecture Notes - Lecture 6: Sole Proprietorship, Gross National Happiness
29 Jan 2020
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Document Summary
Social impact- measure of environmental and economic sustainability. The impact is on the environment, economy and society. For each sector, public, private, the third sector, part we don"t talk about. Private sector- corporations, limited partnerships, sole proprietorship (publicly traded or privately held) Their primary function is to deliver value to shareholders. For the public sector- education, health care, energy(sometimes, public/private ownership) and any government operation/oversight. Their primary function is to provide for the masses, for the population, depends on what their values are, doesn"t get involved in niche products, very broad. The third sector are charities, not for profit organizations, co-operatives. Their function is to fill the gap between the private and the public sector, where the public sector cannot provide. Examples: charities can provide tax receipts as it provides public benefit that has a social purpose(charity allows people to have their taxes reduced) Not for profit- corporations without share capital, can"t provide for shareholders in the financial grains.
