BS Week 2

What is a system?

A group of connected parts working together for a purpose.

What are the 3 parts of a system?

Elements (parts), Interconnections, Purpose/function.

What is a key idea of systems?

The whole is greater than the sum of its parts.

Why are systems complex?

Everything is connected, cause & effect is not simple, feedback loops exist.

What is systems thinking?

Looking at the big picture instead of individual parts.

What is the difference between traditional thinking and systems thinking?

Traditional thinking is simple cause & effect; systems thinking is complex, interconnected, unpredictable.

Why is systems thinking important for sustainability?

Because environmental, social, and economic issues are interconnected.

What is a key risk in systems?

Decisions create unintended consequences.

What is a polycrisis?

Multiple interconnected crises happening at once.

What are examples of polycrisis?

Climate change, Economic instability, Social inequality.

What are mental models?

The way we see and understand the world.

Why are mental models important?

They shape decisions, priorities, and solutions.

What is a key problem with mental models?

They have blind spots.

Are mental models fixed?

No — they are learned and can change.

Why can mental models be dangerous?

They filter reality → we may ignore important information.

What is framing?

How you define or look at a problem.

Why does framing matter?

Different framing → different outcomes.

What is moral imagination?

The ability to think beyond current assumptions and find better solutions.

What are the 3 parts of moral imagination?

Recognize current mindset, Imagine new possibilities, Evaluate ethically.

Why is moral imagination important?

Helps solve problems creatively and ethically.

What is a system in business?

A network of stakeholders, relationships, and processes.

What happens if you ignore systems thinking?

You miss connections → bad decisions.

What is a multiple perspectives approach?

Looking at problems from different viewpoints.

What is GDP?

Measures economic activity (what is bought/sold).

Why is GDP flawed?

It does NOT measure well-being, inequality, or environment.

What is a key criticism of GDP?

It focuses on growth, not quality of life.

What is an example of a GDP problem?

Oil spill cleanup increases GDP (but is harmful).

What is 'Beyond GDP'?

Measuring progress using more than just economic growth.

Why move beyond GDP?

Because GDP ≠ real progress.

What are the 3 dimensions of progress?

Wellbeing (today), Inclusion (fairness), Sustainability (future).

What are examples of Beyond GDP metrics?

Human Development Index (HDI), Better Life Index, SDGs, Ecological Footprint.

What do these metrics measure?

Quality of life, environment, and inequality.

What are INSEAD's 5 global trends?

Climate change, Geopolitical crises, Inequality, Social instability, Inflation/recession.

What is the 'triple planetary crisis'?

Climate change, Pollution, Biodiversity loss.

What are planetary boundaries?

Limits Earth cannot exceed.

What is the current issue regarding planetary boundaries?

We have exceeded most boundaries.

What is wellbeing?

Health, education, equality, quality of life.

What is inclusion?

Fair distribution of resources and opportunities.

How are People, Planet, and Profit connected?

They all affect each other (system).