Knowledge Management Systems

Internal corporate information systems focused on the acquisition, codification, and management of data and information within an organization. The best of these systems incentivize employees to input and share their experiences so that others can learn from these experiences and perform better. KM systems can also track customer behavior in fine detail allowing organizations to tailor the experience they provide their customers in terms of customization,... Read More

IRR (Internal Rate of Return)

The Discount Rate at which the present value of future cash flow is zero. Arrived at through trial and error this is essentially the return a company receives on investment in itself.  Read More

Intellectual Capital

Refers to a capital asset whose yield is intellectual rights. An economic intangible used mostly by firms engaged in information technology, innovation research or technology transfer.  Read More

Innovation

The goal of many organizations who seek to differentiate their offerings by finding new and more valuable solutions that others have not. Most organizations who seek to innovate, do so as a separate, occasional function by a designated subset of employees or consultants. However, true innovation requires cultural change throughout the organization to sustain as well as participation by as many stakeholders as possible. Ultimately, innovation can be... Read More

Information Economy

A vague term referring to a economy whose chief characteristic is the trade or value of information instead of materials (such as gold, iron, or fish) or activities (such as manufacturing or agriculture) to create economic growth and benefits. There is no standard definition of information nor any measures of its value. Thus, it’s difficult to account for or value its effects on an economy. Non-physical products and services (such as software and... Read More

Industrial Nutrients

A term coined by Michael Braungart and William McDonough to describe the raw materials used in manufacturing, use, and disposal of products. These materials, when treated as valuable resources can be used to make other products instead of being disposed of as waste. Some industrial nutrients are toxic, others are not.  Read More

Industrial Metabolism

The total use of materials and energy throughout an entire industrial process, such as manufacturing. This includes the source, transportation, use, reuse, recycling, and disposal of all industrial nutrients (materials) as well as the energy needed at each step. Resources: Allenby, B. and Richards, D. (1994). Greening of Industrial Systems. Washington, DC: National Academy Press. Retrieved March 12, 2011 from http://www.nap.edu/openbook.php?record_id=2129&page=23 Marinova,... Read More

Hypercompetition

Often a characteristic of new markets and industries, hypercompetition occurs when technologies or offerings are so new that standards and rules are in flux, resulting in competitive advantages that cannot be sustained. In response, companies must constantly compete in price or quality, or innovate in supply chain management, new value creation, or have enough financial capital to outlast other competitors. This phenomenon is described in Richard... Read More

Growth

In macroeconomic terms, the increase in the value of goods and services produced by an economy or activity measured as the rate of increase in real GDP after adjusting for inflation. New definitions of growth in terms of sustainable management seek to define it not by the growth in the value of goods and services, but is expanded to include growth in overall benefits to individuals, organizations, and societies together.  Read More

Greenhouse Gas

Gases produced from human activities that trap solar radiation and thus contribute to climate change and the destruction of the ozone layer. These include: CO2 Carbon Dioxide CH4 Methane HFCs Hydrofluorocarbons (a class of several gasses) N2O Dinitrogen Oxide PFCs Perfluorocarbons (a class of several gasses) SF6 Sulfur Hexafluoride  Read More