INDIAN INSTITUTE OF MANAGEMENT KOZHIKODE

Post Graduate Programme in Management

Course Outline

Course Name Sustainability Year and Batch I Year, PGP 26

& Business 2022-23
Term III Course Credit 2 (20 hours)
Course Type Compulsory Sections (if any) 8
Total No. of Sessions 16 Session Duration 75 minutes
Prerequisites if any None
Prof. Kamal K Sharma; Prof. Nycil George; Prof. Radhakrishna
Instructor(s)
Pillai; Prof. Venkataraman S
Contact Details
Office
Consultation/Visiting Hours

Introduction and Objectives

The concept of sustainability - of balancing economic development with environmental

stewardship and social equity—has steadily gained in importance over the last three
decades, and occupies significant mind-space in various realms, including but not
limited to global geopolitics, policy-making, nation development and business. The
notion of corporate sustainability brings firms centrally within the ambit of the wider
sustainability discourse. It attributes the prime responsibility as well as the greatest
capability to businesses for ensuring social and ecological sustainability, concomitant
with the pursuit of growth, profits and other economic objectives. The popular
framework, “Triple Bottom Line”, represents the same idea.

In the span of a short graduate course, it is challenging to capture the depth and breadth
of the inherent complexity and multi-level dimensionality of sustainability.
Recognizing this limitation, this course, adopting an inter-disciplinary approach, seeks
to explore the basic themes underlying the concepts of sustainability and business (read
corporate sustainability) in a manner that will achieve the following objectives:
• Familiarize students with the key concepts, challenges and central debates
related to sustainability, as far as they have an important bearing on managerial
decisions.
• Sensitize students to some of the ‘wicked problems’ that emerge especially as
corporates pursuing sustainability, so that they are encouraged to adopt a
holistic perspective in relation to business decisions and sustainability
strategies.
• Through exercises, get the students to engage with the range of sustainability
related practices and narratives currently adopted by businesses.

In keeping with this design, in the introductory sessions, the course broadly explores
the genesis and need of sustainability, tracing its links to between economic
development, natural resource and environmental degradation, the notions of public
goods and property rights, as well as social issues. In this context, we also discuss the
sustainability-linked movements, initiatives, sustainability related markets and
institutions, the role of various actors such as state, communities, businesses and non-
governmental organizations (NGOs), and institutional developments at the global and
geopolitical level that have an impact on how individual nations seek to fashion their
economic policies and agendas. The objective of this module is to lay the foundations
for appreciating the complexity and enormity of the sustainability conundrum including
the multiple levels of interaction.

Taking off from this grounded perspective of sustainability fundamentals, the course
then delves into the aspects that surround and contextualize corporate sustainability, as
is in vogue - and the roles and responsibilities of business in the sustainability agenda.
The class will discuss the inherent conflicts in balancing a three-pronged agenda
(People, Planet, Profits) and seek to understand how corporates are currently engaging
with this dilemma. The students would be encouraged to analyze the status quo and the
potential of corporate citizenship to evolve from a mode of elementary conformance to
one that is transformative for the entire business ecosystem, the society and the planet.
An appreciation of how businesses seek to develop and craft sustainability strategies,
and measure/benchmark the impact of their social and environmental initiatives also
become important in this context. This will also include two sessions on the challenges
and issues that firms encounter in operationalizing sustainability objectives and
strategies.

The course will conclude with the instructors jointly facilitating and leading discussions
based on term papers/reports prepared by the students, on sustainability and business
themes. The purpose of this module is to enable the students to connect and reflect on
multiple issues discussed in the class and beyond.

Readings (For Reference) #:

• Polman, P. and Winston, A.S., 2022. Net Positive. Profit Editorial

• Adiga, A. (2008). The White Tiger. New Delhi: Harper Collins Publishers
India.
• Ehrenfeld, J. R., & Hoffman, A. J. (2013). Flourishing: A Frank Conversation
about Sustainability. Stanford University Press
• Hart, S. L. (2010). Capitalism at The Crossroads: Next Generation Business
Strategies for a Post-Crisis World. FT Press.
• Sainath, P. (1996). Everyone Loves a Good Drought: Stories from India’s
Poorest Districts. Penguin Books, New Delhi.
• Shrivastava . A, & Ashish Kothari. (2012). Churning the Earth: The Making
of Global India. Penguin India.
 Evaluation Scheme
Components Weightage (%)
Class Participation 15
Group Assignment/Project 30
Quizzes/Continuous Evaluation/Mid-Term (to be decided) 25
End Term Exam. 30
Session Plan
S.# Topics Readings/Cases/Exercises #
1–2 Introduction to 1. Water as a scare resource: An interview with Nestle’s chairman.
Sustainability and McKinsey Quarterly, 2010 1, 75–78.
Business 2. Holdren, J. P., Daily, G. C., & Ehrlich, P. R. (1995). The meaning
of sustainability: Biogeophysical aspects. Defining and measuring
Resource Scarcity, sustainability. The Biogeophysical foundations. The United
Sustainable Sourcing, Nations University and The World Bank, Washington, DC, 1-18.
Climate Change and 3. Hardin, G. (1968). The tragedy of the commons. Science 162,
Business Continuity 1243–1248.
4. Reitan (2005). Sustainability science – and what’s needed beyond
science, SSSP
Ethics and Philosophies Caselets:
surrounding (i) Vittel–Nestlé Waters: Vittel–Nestlé Waters
Sustainability See: http://www.fao.org/3/a-bl927e.pdf
(ii) New York City–Catskill Watershed Management Program
See: https://www.ecosystemmarketplace.com/articles/ecosystem-
services-in-the-new-york-city-watershed-1969-12-31-2/
(iii) From Rags to Riches – Hiware Bazaar Village:
https://www.youtube.com/watch?v=0GrUvNHYO_k
(iv) Fairtrade – Makabari: http://www.makaibari.com/en/about-
makaibari/about-makaibari-organic-tea.aspx
3 Corporate 1. Friedman, M. (1970). A Friedman doctrine: The social
Sustainability (CS) – responsibility of business is to increase its profits. The New York
Imperative, Issues, Times Magazine, 13, 32-33.
Themes, 2. Shrivastava, P. (1995). The role of corporations in achieving
& Debates ecological sustainability. Academy of Management Review, 20(4),
3. Hart, S. L. (1997). Beyond greening: strategies for a sustainable
Role & Responsibilities world. Harvard Business Review, 75(1), 66-77.
Challenges in 4. Bansal, P. (2002). The corporate challenges of sustainable
conceiving and development. Academy of Management Perspectives, 16(2),
implementing CS Case: ABB's Hydropower Sustainability Dilemma
HBS Code W11540-PDF-ENG
4 CS & CSR 1. Ehrenfeld, J. R. (2005). The roots of sustainability. MIT Sloan
Comparison, Contrasts, Management Review, 46(2), 23.
Nuances, 2. Montiel, I. (2008). Corporate Social Responsibility and
Evolution & Corporate Sustainability: Separate Pasts, Common Futures.
Big Shifts – Managerial Organizations & Environment, 21(3).
Implications 3. Bansal, T., & DesJardine, M. (2014). Don’t Confuse
CS in Practice: Sustainability with Corporate Social Responsibility. Huffington
Frameworks, Post
Practices & Trends 4. Porter, M. E., & Kramer, M. R. (2011). Creating shared value.
Harvard Business Review, (January-February).
Case: Barry Callebaut (A & B): To Follow the Chair? -
Case A: HBS code: IN1598-PDF-ENG
(Case B: HBS Code: IN1599-PDF-ENG – to be distributed only in
class)
5 CS Reporting - 1. KPMG (2022): KPMG Global Survey of Corporate Sustainability
Understanding CS/CSR Reporting: Access at:
reports; https://assets.kpmg/content/dam/kpmg/sg/pdf/2022/10/ssr-small-
steps-big-shifts.pdf
Reporting Trends-
2. Isaksson, R., & Steimle, U. (2009). What does GRI-reporting tell
Global Reporting
Initiative (GRI) – and
us about corporate sustainability? The TQM Journal, 21(2), 168-
other frameworks 181.
3. GRI Ranking and Reporting/ CSR Law based Reporting in India:
CSR Law in India and 4. CSR Law in India (Students to access on their own)
implications Comparison of Regulatory CSR reporting and GRI based/ UN Global
Compact based Sustainability Reporting (Students to read up and
discuss; select groups maybe asked to present views in class)
6-7 Operationalizing Effecting sustainability in aspects relating to areas such as:
Corporate • Design (Cradle-to-Cradle and/or Life Cycle Analysis)/
Sustainability Manufacturing/Marketing
• Sourcing / Supply Chain/ Logistics/ IT
Lee, H. L. (2010). Don’t tweak your supply chain–rethink it end to
end. Harvard Business Review, 88(10), 62-69.
Case for S#6: Hans Solar and the Green Supply Chain.
HBS Code: B5723-PDF-ENG
Case for S#7: Patagonia's Sustainability Strategy: Don't Buy Our
Products: HBS Code: IMD790-PDF-ENG
8 Sustainable Financing 1. Eccles, R. G., & Klimenko, S. (2019). The investor revolution.
Harvard Business Review, 97(3), 106-116.
2. Martin, R. L., & Osberg, S. R. (2015). Two keys to sustainable
social enterprise. Harvard Business Review, 93(5), 86.
Case: Can Social Enterprises Scale While Remaining Sustainable?
The Mondragon Cooperatives. HBS: IMD766-PDF-ENG
9 Greenwashing 1. Laufer, W. S. (2003). Social accountability and corporate
greenwashing. Journal of Business Ethics, 43(3), 253-261.
Socially Responsible 2. Delmas, M. A., & Burbano, V. C. (2011). The drivers of
Marketing greenwashing. California Management review, 54(1), 64-87.

Case: Fiji Water and Corporate Social Responsibility: HBS: 909A08-

PDF-ENG
10 Creating a 1. Bhattacharya, C. B. 2018. How to make sustainability every
Sustainability Plan; employee’s responsibility. Harvard Business Review
2. Materiality Matrices drawn from sustainability reports
Materiality Matrices 3. The Unilever Sustainable Living Plan. 2010 to 2020. A
Summary of progress: Access at:
Integrating CS and https://www.unilever.com/files/92ui5egz/production/16cb778e4
Business Strategies. d31b81509dc5937001559f1f5c863ab.pdf
4. Polman, P., & Winston, A. (2022). Becoming A Courageous,
Net Positive Leader. Leader to Leader, 2022(103), 25-30.

Case: Unilever's Lifebuoy in India: Implementing the Sustainability

Plan: HBS: 914417-PDF-ENG
11 Sustainability in Guest Lecture by practitioner(s) - typically a senior practitioner or
Practice- Guest leader heading the Sustainability function in a manufacturing firm or
Sessions engaged in ESG investment or a sustainability related activist/scholar
12 The business case for 1. Epstein, M. J., & Roy, M. J. (2003). Making the business case for
sustainability sustainability: linking social and environmental actions to
financial performance. Journal of Corporate Citizenship, (9)
Impact analysis: Impact 2. Haanaes, K., Michael, D., Jurgens, J., & Rangan, S. (2013)
of CSR; pursuit on Making sustainability profitable. Harvard Business Review, 91(3),
SDGs 110–114.
3. Hoffman & Ehrenfeld (2013): Myths of Modern Culture (Book
Corporate Chapter) in J.R. Ehrenfeld, J. R., & A.J. Hoffman, Flourishing: A
Sustainability : Wrap – Frank Conversation About Sustainability. Stanford Univ. Press
up & Reflections

13 – Project presentations, During the term, students in groups (of 5 or 6) will prepare and
16 discussions, counter present term papers/reports that presents both global and emerging
narratives and critiques market perspectives on current corporate sustainability practices.
Instructors may also require groups to present an alternative
narrative, to bring out the inherent debates relevant to in industry.
Apart from participating in the discussions, there may be an
individual component to the submission by each group.
The instructors will discuss the project rerquirements early on in the
course so that the students can be guided accordingly

All the reports will be verified for plagiarism using the anti-
plagiarism tools available.

All the Best!

 ADDITIONAL/OPTIONAL READINGS

Session Readings
No.
1–2 1. Boccaletti,G., Grobbel, M. & Stuchtey, M.R. (2009). The
business opportunity in water conservation. McKinsey
Quarterly, December 2009. Available at
https://www.mckinsey.com/business-functions/sustainability-
and-resource-productivity/our-insights/the-business-
opportunity-in-water-conservation
2. Appelbaum, B. (2018). 2018 Nobel in economics is awarded to
William Nordhaus and Paul Romer. The NY Times, Oct 8.
3. Millard, E. (2017). Still brewing: Fostering sustainable coffee
production. World Development Perspectives, 7–8, 32–42.
4. Stiglitz, J. (2000) Formal and informal institutions. In: P.
Dasgupta & I. Serageldin (Eds.), Social capital: A multifaceted
perspective, pp. 59–68. Washington, DC: The World Bank.
5. Ostrom, E. (2004). Understanding collective action. In: Ruth S.
Meinzen-Dick & M. Di Gregorio (Eds.), Collective action and
property rights for sustainable development, pp. 5–6. IFPRI:
Washington, DC
6. Ramasamy & W. R. Bentley (Eds.), Natural resource
economics – Theory and application in India, Chapter 6.
Oxford & IBH.

3 1. Starik, M. (1995). Should trees have managerial standing?

Toward stakeholder status for non-human nature. Journal of
Business Ethics, 14(3), 207-217.
2. Dyllick, T., & Hockerts, K. (2002). Beyond the business case
for corporate sustainability. Business strategy and the
environment, 11(2), 130-141.
3. Hahn, T., Figge, F., Pinkse, J., & Preuss, L. (2010). Trade­offs
in corporate sustainability: you can't have your cake and eat
it. Business Strategy and the Environment, 19(4), 217-229.
4 1. Hart, S. L., & Milstein, M. B. (2003). Creating sustainable
value. Academy of Management Perspectives, 17(2), 56-67.
2. Bansal, P., & Song, H. C. (2017). Similar but not the same:
Differentiating corporate sustainability from corporate
responsibility. Academy of Management Annals, 11(1), 105-
149.