5.1 The role of operations management

Economic sustainability

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

Ecological sustainability

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

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

not all of them operations management issues

Ecological sustainability

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

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

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

"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

Land, labor and capital

3 production inputs

Ecological sustainability

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

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

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