Three professors at the Asper School of Business have co-authored a new management textbook that teaches students how to use entrepreneurship to enhance the financial, social and ecological well-being of the organizations they might someday lead and the communities they serve.
Management: Entrepreneurship, Financial and Socio-Ecological Well-Being (Sapajo Publishing) was written by Bruno Dyck, Arran Caza and Fred Starke. Dyck says the book “takes seriously the social and ecological problems currently facing humankind, and describes management theory and practice regarding what managers can do to address these issues.”
Each chapter describes and compares three approaches to management. Financial Bottom Line (FBL) management maximizes financial well-being, and has been the dominant approach to management in the past century. Triple Bottom Line (TBL) management is a more recent approach that calls upon organizations to enhance their financial well-being by reducing negative social and ecological impacts and supporting sustainable development. Social and Ecological Thought (SET) management takes TBL a step further by putting socio-ecological well-being ahead of profit.
The book places more emphasis on SET management than other management texts because the approach is poised to become the first choice of managers in the years ahead, especially among Millennials. It has already been adopted as a textbook for Asper’s undergraduate Management and Organization Theory course.
“By teaching with this book we are inviting students to think more deeply about the pressing issues related to sustainability that they will need to address in their careers,” says Dyck.