Page 409 - Design for Environment A Guide to Sustainable Product Development

384 Gl o ssar y

Sustainable business practice An activity or process implemented by a
corporation in order to enhance its sustainability. An example is incorporating
Design for Environment into new product development.
Sustainable consumption The consideration of sustainability issues in man-
aging the consumption patterns of an organization or community.
Sustainable development Economic development that meets the needs of
the present without compromising the ability of future generations to meet
their own needs.
Sustainable production The consideration of sustainability issues in man -
aging the production processes of a company or industry, e.g., computer
manufacturing.
Synthetic Chemical or material substance manufactured by humans from
materials of non-biological origin.
Tangible asset An asset whose value depends on particular physical prop -
erties, including reproducible assets such as buildings or machinery and
non-reproducible assets such as land, a mine, or a work of art.
Time to market The time interval or cycle time between the launch of a new
product development effort and the market introduction of the new product.
Total quality management A management approach, centered on quality,
based on the participation of all employees and aimed at long-term success
through customer satisfaction.
Transparency Openness of a company or organization with regard to
disclosing information about its policies, principles, and decision-making
processes.
Triple bottom line A framework for sustainable development that defines
three fundamental aspects of corporate performance—economic, environ -
mental, and social.
Upgradeable design A design for a durable product that allows the product
to be upgraded by the replacement of outdated components.
Value chain See Supply chain.
Value driver A fundamental and persistent characteristic of a business
enterprise that influences its market value positively.
Volatile organic compounds (VOCs) Carbon compounds that contribute to
smog formation through atmospheric photochemical reactions. Examples
include: formaldehyde, benzene, and toluene.
Waste material A by-product of a process or activity having no or minimal
economic value. Waste materials can be solids or liquids; gases are considered
air pollutants.