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Lecture

BU121 Week 10 Lecture 1.docx

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Department
Business
Course
BU121
Professor
Laura Allan
Semester
Winter

Description
BU121 Week 10 Lecture 1 Mass production technology:  Stable Market Conditions o Stable market conditions = things will stay the same (ex, taste, needs)  Efficiency vs Effectiveness o Efficiency = focus on efficiency  Repetition o Repetition = same thing, same way New Economic Reality:  Constant Change o Constant change: not stable market conditions anymore  Customer Driven o Customer-driven = whatever customer wants, effectiveness should be focus  Customization and innovation o Customizing = not doing same thing over and over, doing unique thing  Mass customization allows us to have efficiency of mass production, but in a customized way which is what is required now  Machinery needs to know what customer wants, has to be flexible enough to adjust, allows us to have efficiency and effectiveness Sustainability “development that meets the needs of the present without compromising the ability of future generations to meet their needs” UN World Commission on Environment and Development  Measured by the Triple Bottom Line – Andy Savitz o Profit/Environment/Society - People/Planet/Profit o "sustainbility sweet spot" - place where corporate and societal interests intersect - a new way to measure the bottom line o Not a tradeoff, can be more profitable if you focus on the 3 parts of the bottom line, not just one  Dow Jones Sustainability Index  Global 100 Most Sustainable Corporations in the World o http://www.global100.org/  Global Reporting Initiative – guidelines o 1,000 companies, 80% of Global Fortune 150 o more holistic image of company Sustainable Operations  the Next Industrial Revolution o Next industrial revolution: new sustainable way to increase or maintain our economic growth  Ways to weave sustainability into operations: o Product design  “Cradle to Cradle” design  Biomimicry o Product Stewardship o Sustainability through servicing o Sustainability of the supply chain Cradle-to-Cradle Design  Take-make-waste model – Cradle to Grave design o Eco-efficient – “less bad” – 3Rs design o So far, been using a linear model, taking from earth, using to make something, waste = dispose of it (landfill) o 3 Rs = Reduce, reuse, recycle – not enough, just a less bad approach  Eco-effective design based on nature‟s design principles o “Waste equals food” - Cradle to Cradle design o Products developed for closed-loop systems  Closed-loop = back to the cradle at the end  Every output is safe and beneficial  Biological or technical nutrients  Biological = biodegrades back to earth, technical nutrients: take all of the waste and create something of high value with it o Eliminate the concept of waste Biomimicry  Sustainable innovation inspired by nature – “biologically inspired engineering”  Based NOT on what we can extract from organisms and ecosystems (harvesting or domestication), but what we can learn from them Product Stewardship  the responsible and ethical management of the health, safety, and environmental aspects of a product throughout its total life cycle o Be a
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