The objective of the course is to understand the various dimensions and dynamics of sustainability; a subject of growing importance in the 21st century. The course aims to direct the notions of long term planning and strategy for overall sustainability rather than sustainability of individual firms as has been traditionally viewed. The mainstream notions of strategy will be extended to systems view and subsequently, the systems view will be extended to ideas of sustainability.
Through the section 1 of the course, viz., strategy, the course aims to critically analyze management strategy for growth and efficiency; the drivers of today’s world, the firm or corporations. This section will aim to review the purpose of firm, nature of firm and the defects in firm design from the sustainability perspective. Through section 2, the course will introduce the notions of systems approach including the mechanistic view and the organismic view. Understanding the difference between control mechanism in the closed and open systems will be part of understanding sustainability. With some grounding in section 1 & 2, the logic and principles of sustainability will be better understood by the students.
Course Content:
1. Traditional Strategy Orientation 2. Efficiency: Reason for Firm Existence 3. Competition: Basis for Efficiency 4. Paradigms of Strategic Control 5. Closed Systems & Open Systems 6. Mechanistic & Organismic Views 7. Systems Approach 8. Principles of Sustainability 9. Optimization of Asymmetries 10. Redesign for Sustainability 11. Summary Evaluation:
Review Assignments: 30 %
Term Examination: 50 %
The Review Assignments will involve reviewing or critical analysis of a viewpoint, article or a book in each of the three broad areas, viz., strategy, system, and sustainability.
David Teece
Edith Penrose
Elinor Ostrom
G. Clifford
H.A. Simon
J.R. Bray
K.J. Arrow
Ludwig Bertalanffy
N. Chomsky
Oliver Williamson
R.L. Ackoff
Thomas Kuhn
W. Buckley
W.G. Scott