MGM102H5 Chapter Notes - Chapter 7: Longhaul, Market Power, Water Scarcity
Document Summary
Chapter 7: the environment and sustainable business practices. The consumption journey: agriculture-based society shift to production-based model (industrial revolution) Due to population growth, increase in trade and inventiveness, growing emphasis on wealth creation. Shift to technology and scientific methodologies as mechanisms for economic development. Change of behaviour from self-sustenance to a consumption-inspired marketplace. Increase in demand resulted in need for greater production, more efficient operations and growth for specialization. Specialization and outsourcing born during this period to create greater efficiency. Societal shift = shift of intensification of destructive pressures on our environment: no regulations for governing business behaviour everything measured by activity and monetary gain, not by long-term legacy and environmental stewardship. Led to development of operational protocols and practices relating to pollution preventing, recycling, environmental health and safety assessment: emergence of economies from developing nations = increase of consumption of resources.
