Lecture 10: Circular Economy Flashcards
integrated thinking
holistic decision-making, optimising the whole performance of the organization. Both ecological and sociological.
integrated control
steering system for integrating the strategy and completing a culture change / mindset change.
integrated reporting
reporting on the three P’s: people, planet and profit. Now its is more about human capital, social capital and social relations.
integrated thinking full definition
Integrated thinking is the active consideration by an organization of the relationships between its various operating and functional units and the capitals that the organization uses or affects.
string model
mono-capital model. business and shareholders.
spring model
multi-capital model. also focus on society and environment
how do you go from string to spring model: management model:
maximizing profit to optimizing value
how do yo go from string to spring model: capital focus
financial capital to multi-capital
how to go from string to spring model: timing considered
short term to short and long term
how to go from string to spring model: company behaviour
reactive to pro-active
several kinds of capital
- financial capital
- manufactered capital
- intellectual capital
- human capital
- social and relationship capital
- natural capital
financial capital
pool of funds that is available to an organisation for use in production of goods or the provision of services
manufactered capital
manufactered physical objects
intellectual capital
organisational, knowledge-based intangibles
human capital
people’s competenties, capabilities and experience, and their motivations to innovate
