Class Notes (809,124)
Canada (493,535)
York University (33,553)
Management (455)
MGMT 1000 (98)
Jean Adams (90)
Lecture 3

WEEK 3.docx

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York University
MGMT 1000
Jean Adams

WEEK 3: THE IMPORTANCE OF SUSTAINABILITY 3.1 USING SWOT ANALYSIS TO THINK ABOUT YOUR BUSINESS PLAN IDEA SWOT Analysis allows you to find a “fit” between internal competencies and environmental opportunities (you can have a product out long before any competitors, or can produce at the lowest cost and dominate the market share, find foreign markets, or create customer loyalty) 3.2 DEVELOPING A TRIPLE-BOTTOM-LINE MINDSET (TBL) Focus on economic, social, and environmental performance as opposed to just financial success. Economic aspect – must be able to buy supplies, pay employees, and pay shareholders Social aspect – contributes to community, promote human rights, encourage safety in the workplace Environmental aspect – cut down on pollution and energy consumption By considering TBL, you: encourage passionate workers to work for you, positive image for shareholders, prevent boycotts, and create more opportunities 3.3 THE DESTRUCTIVE SIDE OF TECHNOLOGICAL DEVELOPMENT Technology makes some people lose their values and move away from tradition. It takes these things away and leaves a desert. They make sacrifices for short-term gains and improvement of productivity. Obstacles (impediments) of modern service technologies can be determined by weighing four basic elements: 1. Monetary cost – investing to cover our land with concrete to get roads. 2. Specific Counter-productivity – For poor people, their main cause of bad health is their lack of income, but the government gives them $1.50 in medical care for every $1 of income they get. Why?! 3. Loss of Knowledge – scientist were saying before that “can-feeding” a baby was better than breastfeeding, so people stopped breastfeeding. However, one woman started it up again and soon everyone followed. After, the scientists agued that breastfeeding is preferred. 4. Hidden Curriculum – Relation between professional and client. “You will be better because I know better.” Bereavement counselor came and told everyone how to cope with grief but the best way to do it was by having your friends and
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