The Concept of Sustainability

Main purpose: To comprehend sustainability as a concept: models, definitions, its relationship to capitalism, and its evolution.

Objectives: After reading this chapter, you should be able to do the following:

  • Recognize that companies are rethinking capitalism to be inclusive of the concepts of sustainability and stakeholders.
  • Clarify the dimensions of sustainability and the role of stakeholders.
  • Identify events that helped to shape the concept of sustainability over the years.
  • Compare and interpret various models used to represent sustainability.

The purpose of any company should be to make people’s lives better. Otherwise, it shouldn’t exist.

—Ford Motor Company, Letter from William Clay Ford, ...

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