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Chapter 2

Textbook Notes Chapter 2- The Environment and Sustainable Business Practices.docx

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Department
Management
Course
MGM102H5
Professor
Dave Swanston
Semester
Winter

Description
Chapter 2- The Environment and Sustainable Business Practices - Textbook Notes The Consumption Journey • Environmental Stewardship- The integration of sustainability values into the managing of environmental resources • In response to both growing scientific evidence and to occurrence of environmental disasters, governments began to create minimum levels of regulatory environmental compliance for a growing number of business sectors : • Degradation- Deterioration of environment through the depletion of resources and the destruction of ecosystems • The goal is to design and redesign business processes in a way that, while allowing for increased wealth and enhanced competitive advantage, incorporates the principles of human mankind and resource protection and sustainability for the future  Requires organizations to integrate sustainable development and resource management into their core mission, vision, values, costs of conduct, and business systems The 5 Sustainability Challenges Climate Change • Rise in global temperatures will reduce corn crop yields across the planet • Within a 40 year period, we need to reverse the downward spiral associated with climate change by reducing carbon based emissions in five key areas: 1. Decarbonising the Energy Supply Employ carbon capture technologies around carbon based fuels such as coal, to further reduce the carbon based emissions flow 2. Transportation Innovation  Ensuring that governments and manufacturers set fuel economy as a top priority and that worldwide biding fuel economy targets are set  Technological advancements in internal combustion engine design, hybrids, electric vehicles, and next generation biofuels 3. Biodiversity  In order to prevent deforestation (carbon dioxide emissions), Forestry management guidelines is needed  Reforestation education initiatives, particularly in developing nations, are key to successfully maintain and improve balance between nature and economic growth 4. Human Behaviour Modification  Change human behaviour as much as it lies in the development and application of new technologies which requires a shift in values and lifestyles  Kyoto Protocol – 1997 International agreement that binds participating nations into stabilizing and reducing greenhouse gas emissions  Although such governmental and regulatory policies and initiatives will up the compliance scale, it is we as managers and individuals who need to take climate change responsibility into the boardroom and into the business operation to ensure the behaviours exhibited reflect a true integration of environmental sustainability practices into our organization and corporate strategies 5. Improving Energy Efficiency  Apply alternative solutions (wind, solar, geothermal, etc)  Use existing technologies and little new capital such as sifting to low energy lighting, more fuel efficient vehicles, etc Pollution and Health • Water pollution  Lack of water sanitation alone is major cause of death worldwide  Result of untreated sewage and contaminated surface water • Air pollution  Death from air pollution diseases such as pneumonia, bronchitis, lung cancer, etc  Indoor pollution from smoke and ask from indoor stoves is more of a deadly killer than outdoor air pollution  Toxins (lead, mercury, chromium, arsenic, pesticides, etc) released into the air and environment by businesses and organizations that have operated  The Blacksmith Institution is leading an effort to create an international program for addressing the problem of global toxic waste The Energy Crunch • Growth in energy demand will occur despite the implementation of sustainability initiatives, with sectors such as air transportation, long haul transportation, infrastructure development, and manufacturing leading the way • BTU (British Thermal Unit)- A measure of heat required to raise the temperature of one pound of water by 1 degree F • Global marketplace is going to require 26% more energy over the next decade and it will need to come from largely existing energy sources • Whether we have enough supply to deliver this mandate depends on two ingredients:  Resource Availability o Possibility of supply shock is very real given the anticipated tightness between demand and supply o Peak Model Theories- On the belief that resources are finite and that at some point in time, the availability of such resources will pass their maximum production point and begin to decline o Supply side of demand/supply is influenced by seven key factors: 1. Current Supply Development Constraints  How quickly we can develop the production of existing known resource supplies; how quickly capital investment in existing sources of energy can result in such energy sources being moved from a state of unknown, but not developed into the pipeline 2. Political Impact Factors  Political, legislative, or environmental action that constraints the ability of companies and organization to proceed with supply development  Feed-in Tariffs- Government payment subsidy arrangements whereby participants are paid a guaranteed premium for energy developed through the adoption of alternate energy source 3. Rate of New Discoveries  Identification of new sources of fossil fuels 4. Declines in Current Production  Reduction in current supply volume due to energy sources drying up or being taken offline 5. Immediate access to additional capacity  Ability of current suppliers to tap into excess capacity to meet the demand needs of the marketplace 6. Geopolitical instability  Instability in the countries/regions that supply our global energy needs 7. Development speed of alternative energy sources  Speed at which alternate energy sources can be brought online and achieve the necessary scale and cost structure to be viewed as viable options for energy consumers to consider when looking to meet their current and future energy needs  Improvements in Energy Productivity o Improving the efficiency of energy production currently taking place, as well as reducing the overall demand for such energy in a manner that does not compromise economic growth o Measurement of productivity achieved from each input of energy consumed Resource Depletion • Resource Management- Ability to activ
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