Course content
The phenomenon of climate change has brought about a need for businesses to undergo a process of transformation in order to remain competitive in today’s market. As the effects of climate change become increasingly visible, businesses must transition from traditional practices to more sustainable, eco-friendly approaches that can ensure their long-term success. This transformation involves both changes in the way business is conducted and a shift in the type of products and services that are provided. For example, businesses must adopt strategies such as reducing their carbon footprint, increasing their efficiency, and investing in renewable energy sources. Additionally, businesses may need to focus more on creating products that are environmentally friendly and can help to reduce the impact of climate change.
The course provides advanced business knowledge placed in the context of a rapidly changing, climate, regulatory and economic context. It focuses on how businesses need to transform to better respond to the climate crisis and build on the opportunities that climate change can offer. Moreover, it aids students in reflecting on the implications that climate change has on a variety of business types, from energy multinationals, to transport and tourism, agriculture, and electronics. Many of the examples and cases discussed in the course highlight the tension between short-term profitability, that is often driving companies, and longer-term societal goals that should be rooted on sustainable development principles. During the course, students learn to make complex business decisions under uncertainty, evaluate innovative approaches to address climate change issues in the various sectors, communicate the need for change and drive change in their future organisations. During the course, using a variety of examples and theories students will learn how climate change impacts consumer behaviors, marketing and product development, financing, employee retention and choices of production location.
The curriculum is structures around four main themes: (1) Reshaping value chains; (2) Organizational resilience and adaptation; (3) Shifts in work and life; (4) Societal shifts. Module 1 focuses on how businesses can leverage on climate change to increase their competitiveness, either by providing products with lower carbon footprints, marketing solutions to climate-change-driven problems, or strengthening their brand. In module 2, students learn how companies need to develop resilience approaches, so that their business can successfully adapt to climate change. Module 3 focuses on how climate change is likely to change work practices and lifestyle attitudes, so that firm can find new opportunities to respond to these changing societal needs. Module 4 deals with the societal shifts resulting from climate change, and how firms should shape their strategies to respond to these changes.
Each session combines theoretical readings with case study discussions on existing climate change challenges and strategies for firms and encourages students to understand and apply abstract frameworks but also discuss their limitations. The students will learn how to integrate ideas and concepts to solve complex realistic problems. They will also learn how to select and acquire relevant knowledge for dealing with climate change at a business level. Through the analysis of how climate change issues have been dealt with in the past, students explore how executives were able to recognize opportunities for innovations and translate them into strategy or adapt their operations to account for a changing environment. The course will also include in-class discussions on current topycal issues.
See course description in course catalogue