Sustainable Business

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Course Sustainable Business (VVVKM24205) annotation

The Sustainable Business course analyses the concept of sustainable development and the problematic aspects of its implementation at the macro- and micro-level. The content of the three dimensions of sustainable development (economic, social, and environmental) and the expression of their interaction in business are examined. The sustainable business models, their selection options, and the methods of sustainable assessment and accountability applied in the business are analysed. The critical points of organization's activities that have the greatest impact on the environment and society in the context of sustainable development are identified. Modelling environmental, social, and economic actions for sustainable development that meet international and national requirements, reduce environmental and societal impacts, and contribute to the sustainable development of organization by applying expert assessment and multicriteria evaluation methods.

Aim of course

Develop the abilities to create, manage, and develop sustainable businesses, to make system-based strategic decisions, and to implement eco, technological, and social innovations in business to achieve global sustainable development goals and to increase the competitive advantage of business.

Learning outcomes: Will understand the concept of sustainable business, the principles of sustainable business management, and the modeling and evaluation of sustainable organizational development; will be able to communicate in groups and individually, justify their opinions with sound reasoning, generate business ideas, discuss various topics related to sustainable business, listen to colleagues’ opinions, make appropriate decisions and take responsibility for their implementation, as well as analyze and evaluate the significance and interrelationships of the dimensions of sustainable business development, select and evaluate measures for achieving sustainable development using multi-criteria assessment methods, anticipate their potential impact on the environment and society, and make strategic business development decisions based on research findings.

Basic knowledge and skills required to study this course (if applicable): Fundamentals of Management.

Faculty and course volume in credits: A 6-credit course of study for the Master's degree in the Faculty of Business Management.

Course content

List of the Course lecture topics:

The Concept of Sustainable Business: Definition, Assumptions, Necessity, and Challenges. Characteristics of sustainable business, socially responsible business, and social enterprise. Global challenges and opportunities for business

Business transformation toward sustainable development. EU and Lithuanian sustainable development strategies. Global Sustainable Development Goals. The EU Green Deal. The EU Taxonomy Regulation, etc.

Transformation of consumer behavior in the context of sustainable development. Sustainable consumption, the concept of sufficiency in consumption, product sustainability

Issues in assessing sustainable business development: complex indicators, systems, methods, and tools

Sustainable business models. Factors promoting and limiting sustainable business development. Technological and social trends.  The concept of a green organization

The content of the economic dimension of sustainable business.  Principles of the circular economy. Climate-neutral economy

The content of the environmental dimension of sustainable business.  Environmental management systems. Pollution prevention. Eco-innovations

The content of the social dimensions of sustainable business.  Responsible labor practices. Equal opportunities, diversity, and human rights. Community expectations and needs, social initiatives

The social aspect of sustainable development. The concept of poverty and social exclusion. Social innovation—opportunities for business

Sustainable business management. Sustainable business reporting. Reporting methodologies (GRI, CDP, IR, GRESB, Nasdaq, etc.). Communication with stakeholders

List of the Course exercise topics:

Analysis of EU and Lithuanian sustainable development priorities. Selection of a sustainable business development model suitable for the organization; 

Identification of critical points in the organization’s operations for sustainable development, and assessment of their impact on the environment and society; 

Modeling environmental actions for sustainable organizational development; Modeling social actions for sustainable organizational development; 

Modeling economic actions for sustainable organizational development.

Upon completion of the course with a positive assessment, a Certificate of Completion will be issued, which is transferable to any higher education institution. Upon completion of the course module without a final assessment, a certificate of completion of the course is issued.

The cost of the course is 469,00 Eur.