SUSTAINABILITY Helping all people to prosper and live well
monash.edu/business
WHAT IS SUSTAINABILITY? Most people are familiar with environmental sustainability, but a sustainability lens can be applied to many other aspects of public life – for example, social and economic inclusion. Businesses can use sustainable thinking to make better decisions that take the long view and help all people and communities to prosper and live well. In every business process, product or service, there’s a sustainable way. WHY STUDY SUSTAINABILITY? Business decisions have an impact on people, places and the planet, and studying sustainability will teach you how to prioritise meaningful longterm outcomes over short-term wins. Evaluating business using sustainable thinking will uncover the complex and competing interests inherent in making long-term decisions that deliver maximum benefit to people and the planet.
SUSTAINABILITY
Rather than analysing issues in isolation, you’ll be challenged to see the links between society, the economy and the environment, and learn to view business within its wider system.
WHERE WILL SUSTAINABILITY TAKE YOU? The sustainable economy is influencing society just as much as the digital economy. Consumers are demanding more of companies and governments in this space. From how we use plastic, water and energy, to where we source our products and what Australia exports, the community is increasingly engaged with sustainability – and willing to avoid businesses that don’t demonstrate their sustainability credentials. Business professionals who have a deep understanding of sustainable perspectives and can help businesses engage in sustainable practices will be highly sought after in this dynamic employment landscape. Studying sustainability comes with the added opportunity of taking the lead in responding to the complex economic and environmental sustainability issues faced by corporations, government and the media today. It’s also an opportunity to make social change – to levels of equality, people’s rights and freedoms, and the ability of all people to prosper and live well in the long run.
WHY STUDY SUSTAINABILITY AT MONASH BUSINESS SCHOOL? Monash Business School is a proud signatory to the Principles for Responsible Management Education (PRME), an initiative established in 2007, with the support of the United Nations, to serve as a platform to raise the profile of sustainability in tertiary insitutions – and equip business students with the knowledge and ability to deliver change. We also drive change through our research. Monash Business School’s discipline-based departments and research centres address some of the world’s most complex challenges and find meaningful and sustainable solutions. This results in a strong program of research-led teaching, ensuring students graduate with the latest insights in their field.
Centre for Development Economics and Sustainability Producing high-quality research on economics and social problems in the developing world, this centre conducts research on issues of global concern with a focus on the environment and sustainability in a broad sense.
Centre for Health Economics Contributing to health economics research, teaching and community service for more than two decades, this research centre has one of the largest concentrations of senior health economists in Australia and is committed to improving the nation’s health.
Centre for Global Business Dedicated to tackling the complex issues facing today’s global business community, this multidisciplinary research centre brings together researchers from various business disciplines, industry partners and policymakers.
Australian Centre for Financial Studies Drawing on expertise from academia, industry and government, this research centre promotes thought leadership in the financial sector, facilitating rigorous industry-relevant research and independent commentary.
“My current major is Management studies and I wouldn’t know how to run a team, or be able to make an effective team, without having studied management. I’ve committed to using my studies to work on sustainable businesses that close the gap in global health inequality because I was inspired by seeing how, in real life, real poverty does exist, and I believe that having good health is the thing that enables people to live the life they want and break that cycle of poverty.” ELIZA LI Bachelor of Commerce/Bachelor of Biomedical Science
UNDERGRADUATE STUDY OPTIONS If you’re interested in the interaction between society, the economy and the environment, we offer specialist sustainability units. Sustainability is offered within the Bachelor of Commerce as a major or minor area of study. The following units can also be taken as electives across a wide range of other degree programs:
Accounting for sustainability Learn how to create organisational value by enhancing sustainability performance. This unit covers internal and external reporting of corporate social and environmental sustainability – and how to use these skills to make decisions and contribute to assurance.
Sustainability regulation for business Learn about the effectiveness of regulatory models on global environmental challenges. This unit covers sustainable development, property rights and common law remedies, plus statutory models for the protection of natural resources and ecosystem services.
Environmental economics Learn to apply microeconomic theory to environmental problems such as air pollution, climate change and exploitation of open access resources. Use environmental valuation and cost-benefit analysis tools to discuss policy options to address these problems.
Prosperity, poverty and sustainability in a globalised world Learn about the effects of economic development on prosperity, poverty and sustainability. Examine why some economic systems prosper while others decline, and study the prospects for future economic development in the context of environmental sustainability and climate change.
Economics of climate change Examine the implications of climate change for global and domestic economies, and related inter-generational and intra-generational equity concerns. Use contrasting economic principles and policies to find options for achieving targets and pathways, and learn how key industries – electricity and transport – can respond.
Managing for sustainability Learn ‘systems thinking’ and apply ‘systems practice’ tools and methods, including systems mapping and analysis techniques, to a range of contemporary sustainability issues. Conduct your own policy design and evaluation analysis and identify leverage points for improving sustainability outcomes.
Corporate social responsibility and business ethics Explore corporations’ responsibilities beyond profit and to what extent they should be regulated or left to operate in a free market. Examine the ethical issues in marketing and advertising, climate change and environmental protection regulation and corporate governance, human resource management and social accounting.
BEYOND THE CLASSROOM Leaders program A five-day program for selected students to learn about sustainability, business improvement, innovation, leadership and good business practices.
Green steps An award-winning sustainability leadership program run by the Monash Sustainable Development Institute for selected students to gain practical sustainability training and work on consultancy projects.
Leave no one behind A program for students and recent graduates to develop innovative ideas to address disadvantage and inequality in our local communities.
Business ethics in a global environment Develop moral reasoning about how businesses conduct themselves in a global context. Explore theories of ethics and justice in business and its relationships with society, across different cultural and religious traditions, and reflect on your own moral development through analysis of ethical and unethical behaviours in business.
Sustainable operations and supply chain management Integrate concepts from both operations and supply chain management toward strategic goals of more sustainable production systems. Learn about the tools that companies use to reduce their overall resource use, manage their social and environmental risks at the extended enterprise level and design products and processes that use sustainable resources.
Take one step An online digital platform developed by the Monash Sustainable Development Institute and Monash University’s Office for Learning and Teaching that aims to engage and educate students on the United Nations Sustainable Development Goals.
GRADUATE STUDY OPTIONS Monash Business School teaches into the Master of Environment and Sustainability, which offers specialisations in one of the following five areas: > > > > >
Find out more To learn more about Sustainability with Monash Business School visit: monash.edu/business Stay connected with Monash Business School:
Corporate environmental and sustainability management Environment and governance Environmental security International development and environment Leadership for sustainable development
We also offer a number of specialist sustainability units:
Sustainable business and innovation Corporations are increasingly required to consider and manage the environmental, social, economic and ethical impacts of their business and rethink value creation. Gain a broad understanding of global sustainable development challenges and the role of business globally and locally in contributing to innovation and entrepreneurial solutions that address these challenges.
The information in this brochure was correct at the time of publication (July 2019). Monash University reserves the right to alter this information should the need arise. You should always check with the relevant faculty office when considering a course. CRICOS provider: Monash University 00008C Monash College 01857J.