5.1 The role of operations management

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Economic sustainability

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11 Terms

1

Economic sustainability

________: within a business context, ________ involves using the assets of the company efficiently to allow it to continue functioning profitability over time.

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2

Ecological sustainability

________: capacity of ecosystems to maintain their essential functions and processes, and retain their biodiversity in full measure over the long term.

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3

The degree of value added to the inputs will depend on a number of factors

not all of them operations management issues

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4

Ecological sustainability

capacity of ecosystems to maintain their essential functions and processes, and retain their biodiversity in full measure over the long term

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5

Social sustainability

ability of a community to develop processes and structures which not only meet the needs of its current members but also support the ability of future generations to maintain a healthy community

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6

Economic sustainability

within a business context, economic sustainability involves using the assets of the company efficiently to allow it to continue functioning profitability over time

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7

"Operations" or "operations management"

"Operations" or "operations management" is concerned with the use of resources called inputs land, labor and capital to provide outputs in the form of goods and services

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8

Land, labor and capital

3 production inputs

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9

Ecological sustainability

Capacity of ecosystems to maintain their essential functions and processes, and retain their biodiversity in full measure over the long term

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10

Social sustainability

Ability of a community to develop processes and structures which not only meet the needs of its current members but also support the ability of future generations to maintain a healthy community

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11

Economic sustainability

Within a business context, economic sustainability involves using the assets of the company efficiently to allow it to continue functioning profitability over time

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