The term economy was framed in the late XIVth century from the Greek "oikonomia", which means "household management" and from "oikonomos" meaning "manager, steward".

 

Over the years, we had a simplistic understanding of how managing the house should be done. Sweeping the dust on the porch or further in the backyard was the way our common house was managed.

 

We realise now that a proper management of the house is more than just sweeping the problems away, or said more bluntly, that pursuing short term economical growth is not the sole manner to manage our house.

 

The mainstream definition of sustainablity from the 1987 Brundtland report states that sustainable development is a development that meets the needs of the present without compromising the ability of future generations to meet their own needs.

Consequently, economic activities face the challenge of minimizing any harm resulting from their processes and creating economic, social and environmental value.

 

In the oikos perspective, the gap must be closed between sustainability training that innovative businesses seek, and what many business school programmes are still offering.

 

oikos wants students of management and economics to be ready for the sustainability challenge!