Operations Management and Environmental Impact

A comprehensive set of vocabulary flashcards covering key concepts from operations management and the environmental impact of business.

Operations Management

The directing and controlling of processes that convert an organization's resources into finished goods and services.

Externalities

Costs or benefits that affect a party who did not choose to incur that cost or benefit.

Climate Change

The greatest market failure that results from human carbon emissions and leads to environmental degradation.

Biodiversity

The variety of life in the world or in a particular habitat or ecosystem.

Sustainability

Avoiding the depletion of natural resources through business activities that don’t negatively impact the environment.

Environmental Ethic

A set of values or principles that govern a corporation’s practices relating to the environment.

Tragedy of the Commons

A conflict for resources between individual interests and the common good.

Carbon Pricing

A market-driven approach to reducing greenhouse gas emissions by charging companies for their carbon footprint.

Negative Externality

A cost incurred by a third party not directly involved in a transaction or activity.

Positive Externality

A benefit received by a third party not directly involved in a transaction or activity.

Clean Energy

Energy generated from renewable, zero-emissions sources.

Greenhouse Gas Emissions

Gases that trap heat in the atmosphere, contributing to global warming.

Air Pollution

The presence of harmful substances in the atmosphere that may impact health and the environment.

Animal Rights

The ideology that advocates for the equal treatment of animals and their liberation from human use.

Animal Welfare

The humane treatment of animals used by humans to meet certain needs.

Environmental Regulations

Laws and policies designed to protect the environment by regulating corporate practices.

Market-Driven Approaches

Incentives provided to businesses to encourage environmental protection.

Carbon Capture and Storage (CCS)

A technology designed to capture carbon dioxide emissions from sources like power plants.

Emissions Trading

A market-based approach to controlling pollution by providing economic incentives for reducing emissions.

Sustainable Development

Development that meets current needs without compromising the ability of future generations to meet theirs.

Corporate Social Responsibility (CSR)

A business model in which companies integrate social and environmental concerns into their operations.

ISO 14000

A family of standards related to environmental management that helps organizations minimize their environmental impact.

Environmental NGOs

Non-governmental organizations dedicated to protecting the environment and promoting sustainability.

Environmental Management Systems (EMS)

Policies and practices that organizations adopt to manage their environmental responsibilities.

Cap-and-Trade System

An environmental policy tool that allows industries with low emissions to sell their extra allowances.

Reforestation

The process of replanting an area with trees to restore the forest that has been cut down.

Food and Climate Change

The effects of food production and consumption on greenhouse gas emissions and environmental sustainability.

Water Pollution

The contamination of water bodies, often as a result of human activities, making it harmful to ecosystems and human health.

Environmental Impact Assessment (EIA)

A process that evaluates the potential environmental effects of a proposed project before it proceeds.

Pollution Prevention

Practices that reduce, eliminate, or prevent pollution at its source.

Technological Innovations

New technologies that improve efficiency and sustainability in business operations.

Wildlife Conservation

The practice of protecting endangered species and their habitats.

Sustainable Practices

Business operations and strategies that are environmentally friendly and socially responsible.

Corporate Accountability

The responsibility of corporate leaders to ensure their actions do not harm the environment.

Resource Conservation

The careful management of resources to prevent depletion and ensure sustainability.

Multi-Stakeholder Initiatives

Collaborative efforts involving multiple organizations to address environmental issues.

Climate Risk

The potential for financial losses due to climate change and its impacts on business operations.

Animal Husbandry

The practice of breeding and raising livestock while ensuring their welfare and minimizing stress.

Greenwashing

The practice of promoting misleading environmental benefits of a product or service.

Biodiversity Loss

The decline in the number and variety of species, often due to human activity.