Question

In: Economics

Define sustainability in production processes and the four elements it addresses.

Define sustainability in production processes and the four elements it addresses.

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Expert Solution

Answer- Sustainability in production process means to produce products that economically friendly and pose no harm to the environment. In other words the environment is not negatively affected due to the production of goods. Apart from protecting the environment such production also saves up natiral resoirces and ensures it’s optimum utilisation. This leads to minimisation of wastage. Following such standards that ensure the sustainability also ensures employee and society safety as norms are followed. Sustainable production helps in saving costs and reducing wastes thereby producing at an optimum level and also provides the company with competitive advantage as products are environment friendly and safe.

Following are the elements of sustainability in production process-

• Sustainable procurement of the resources- Firms procure heir raw materials in such a way where the benefits are greater than the cost incurred and also there is no damage caused to the society or community in procuring such materials. In other words the damages are minimised when procuring materials and value for money is obtained in procurement process. Such type of procurement helps the business in maintaining it’s reputation and creating jobs where the procurement is being done.

• Eco friendly- Every organisation is ensuring that it produces products in a eco friendly way because it helps to conserve the environment and the natural resources and also it protects the earth from exploitation of the resources. In other words the resources are optimally utilised. Such evo friendly labelling of the firms helps the prganisations in maintaining their reputation and adds a value to their competitive advantage.

• Waste management- In this process the waste that is generated from the initial process till the final stage of production is collected properly and stored in a secure place. Proper transportation system is in place so that the waste reaches it’s desired destination. After the waste has reached it’s destination then it is treated and disposed off in such a way that it doesn’t harmnthe environment and people living near by. In todays world the business organisation are following the waste management process and ensuring that such waste management is analysed properly and accordingly makes report on it. It helps to create a goodnimage of the organisation and people prefer buying from such organisation.

• Sustainable management of resource- It is a process whereby the organisations manage their resources in such a way that it benefits the present generation and also ensures that the future generations will also be benefited from such sustainable practices. Such practices can be embibed in production, agriculture, business etc and helps to conserve natural resources as well as maintaining a safety level. Every organisation is following up a method of sustainable management as it helps to produce maximum profit by reducing the costs and managing wastes and also creating a positive image of the business which helps improving it’s sales.


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