Descriptive Statistic

BUSINESS MANAGEMENT TOOLS

Analyse Data

Summarize data

Circular Business Model

Median

Concern

Society are becoming more aware of the environmental impact of business activities.

Mode

Mean

Quartiles

Businesses are becoming more aware of the situation hence the need to adopt the concern into their operations is essential.

Standard Deviation

Bar Charts

Benefits

Pie Charts

Less damage to environment

Infographics

Use fewer resources and can cut costs

Able to attract staffs that are concerned on environment stance of the business they work for

Able to attract investors that concerns on environment

Average value

Avoid media criticism

Can be ahead of other businesses and gain competitive advantage

Value that appears most frequently

Elements

Middle value in the data

Divide data into four parts

First quartile : Bottom 25 per cent

Second quartile : Lowest 50 per cent

Upper quartile / 75th percentile : Bottom 75 per cent not the top 25 percent

Product Life Extension Models

Extending the life products to reduce the need to use resource to produce more. Materials that are disposed are maintained and improved (repairing, upgrading)

Google is developing phones made up of different modules to enable customers repairing, changing and upgrading themselves.

Google can prevent the phones from being thrown away.

Measure of how spread out numbers are within a set of data

image

Sharing Models

Offering services where people share products rather than own for themselves.

Airbnb enable existing properties to be shared rather than building new hotels or resorts

Show data that are independent of each other

Bicycle sharing enables sharing resources rather than owning the bicycles hence providing bettter use of resources

Shown in bars

Product Service System Models

Show how a whole is divided into different elements

Leasing or renting products rather than owning the products. Business keeps the ownership.

Shown in a circle

Michelin sells 'tyres as a service' to business customers where they will pay based on miles driven. Customers do not need to deal with maintenance costs

This encourages Michelin to develop longer-lasting tyres and can be repaired or recycles more easily.

Charts or graphs or images that convey information in an easy to understand manner

Visual representations of data

How will a business products sold will end up after its use or expiration?

Elements

Circular Supply Models

Replace the use of scarce resources with renewable, recyclable or bio-degradable resources

Resource Recovery Models

Re-use resource outputs and re-process waste materials into new resources

Walt Disney sends its food waste to a digestion facility that is converted into renewable biogas to generate electricity. This can reduce the amount of new resource used