Indigenous and Western Worldviews: The Notion of Value and Sustainability Flashcards
What is Business Sustainability?
The concept that businesses should create wealth and improve people’s lives without compromising the health and wealth of future generations. The long-term goal is thriving societies and ecosystems.
Colonialism
Is the subjugation of one people to another, involving political and economic control over a dependent territory.
Capitalism
Is an economic system based on the private ownership of property and business with the goal of profit maximization for the owners.
Problems with the shareholder view
Focuses exclusively on maximising shareholder return.
Relationality…
is KEY, referring to the relationship between all things and the strength of these relationships.
Intergenerational thinking
Considers the impact of actions on past and future generations.
Indigenous knowledge
Is holistic, relational, local, and contextualised.
Built over generations through observation, lived experiences, oral histories, and community approaches.
Systematic knowledge of planting, hunting, weather and climate, environmental conditions, medicine and health care, navigation and engineering.
Western perspectives on value
are based on neoclassical economics, where the value of something is determined by market forces and the price paid.
Indigenous perspectives on value
The indigenous emphasize values like consensus-based decision-making, storytelling, relationship building, and reciprocity.
Why is there a need to question the concept of “value creation” in a society structured around colonialism and capitalism
Much of what is called “value creation” actually involves extracting value from one group or place to benefit others
Indigenisation:
Adding or re-integrating Indigenous elements into systems and ways of thinking.
Decolonisation
Removing or undoing the colonial elements embedded within systems and ways of thinking.
Two-eyed seeing
A valuable approach, allowing us to move between Indigenous and Western knowledge and worldviews, recognising the merits of both.
The social foundation
Encompasses the minimum social standards needed for a just and equitable society
Doughnut Economics Combines
The planetary boundaries and social foundation into a single framework.