(a) Based upon the provided information, it could be stated that:
The volume of water required every day for the rinsing process= 40*11
= 440 litres
In order to heat the water till 60oC, the amount of energy required is 77 kWh for one kilolitre of water.
Hence, in order to heat 440 litres of water up to 60oC, every day, total energy required is
= 440*0.077 kWh
= 33.88 kWh
Hence, amount of energy required annually= 33.88*250
= 8470 kWh
The annual electricity cost = 8470*$0.25
= $ 2117.50
(b) In order to heat the water till 50oC, the amount of energy required is 62 kWh for one kilolitre of water.
Hence, in order to heat 440 litres of water up to 50oC, every day, total energy required is
= 440*0.062 kWh
= 27.28 kWh
Hence, amount of energy required annually= 27.28*250
= 6820 kWh
The annual electricity cost = 6820*$0.25
= $ 1705
(c)
The volume of water required every day for the rinsing process= 40*5
= 200 litres
In order to heat the water till 60oC, the amount of energy required is 77 kWh for one kilolitre of water.
Hence, in order to heat 200 litres of water up to 60oC, every day, total energy required is
= 200*0.077 kWh
= 15.4 kWh
Hence, amount of energy required annually= 15.4*250
= 3850 kWh
The annual electricity cost = 3850*$0.25
= $ 962.50
Hence, in order to heat 200 litres of water up to 50oC, every day, total energy required is
= 200*0.062 kWh
= 12.4 kWh
Hence, amount of energy required annually= 12.4*250
= 3100 kWh
The annual electricity cost = 3100*$0.25
= $ 775
(d) i. If the water flow is reduced from 11 litres to 5 litres, without changing the temperature required to heat the water, CPL would save an amount of $1155 annually.
(e) The annual lighting cost can be stated as follows:
12 lights x 0.04 kW x $ 0.25 /kWh x 18 hrs x 365 days
= $788.40
(f) If the lights are replaced with LED bulbs, then the annual cost would be:
(20 lights x 0.005 kW x $ 0.25 /kWh x 18 hrs x 365 days) + ($5/Light x 20)
= $ 264.25
Hence, total savings for the business would be for $524.15
(g) Based upon the calculations on the cost savings technique of CPL, it could be seen that the company can utilise the best methods of reducing their cost by controlling their water flow from 11 litres to 5 litres. Among the other cost savings of reducing the temperature required for water heating to rinse the fruits and vegetables and the associated lighting costs, the most effective method would be to reduce the flow of water.
Issues To Be Raised In Life Cycle Analysis
The Packing and Labelling Pty Ltd (PAL) is a company which is engaged in the manufacturing, printing, packaging, etc. of the labels for consumer goods, pharmaceuticals, industrial markets, etc. They also have their in moulds labels and cartons on many top brands across the world market. The company is now trying to maintain such a business strategy through which they can cause least harm to the environment through their business activity. This is needed so that they can be more eco-efficient in their operations. However sustainable environmental development is not possible without a proper eco-friendly internal production along with a similar external purchase from suppliers. Thus PAL has to make certain plans like incorporating few environmental sustainability strategies in their life cycle analysis. First of all, the company has to make sure that they choose those suppliers for their value stream supply chain who are supplying environmental friendly inputs (Welford, 2016). The raw materials and the other equipment used in the production should be not such that they create more environmental pollution. The second aspect which needs incorporation to their life cycle analysis is the production technique or manufacturing process. This process of manufacturing and packaging needs to be eco-friendly, with least emission or pollutants into the atmosphere. Finally PAL has to ensure that the distribution of their goods is carried with least harm to the environment. The company has to ensure that the use and further disposal of their goods or residues are done in a manner which is environment friendly.
In their life cycle analysis PAL needs to make every aspect very eco-friendly and sustainable in nature (Wood, et.al, 2014).
Figure 1: Life Cycle of the Project of PAL
(Source: Yue, You and Darling, 2014)
The suppliers, customers and the employees associated with PAL need to know that their main concern is to develop and maintain an eco-efficient sustainable strategy so that these stakeholders can work accordingly.
Mission Statement
The mission statement of Packing and Labelling (PAL) Pty Ltd is to be the first choice of the big brands across the global market and be a part of their supply chain as their packaging and labelling company.
Vision Statement
The vision statement of Packing and Labelling (PAL) Pty Ltd is to emerge as the leading packaging and labelling company in the global market with a sustainable and environment friendly business strategy.
Strategic Goals
The company has various strategic goals which they aspire to attain through their business activity.
The first strategic goal of the company is to develop a production technique and a manufacturing process which is environmental friendly so that they can be a socially responsible business organisation (Galliers and Leidner, 2014). This goal and its achievement can be measured through the assessment of the life cycle where the pollution or the environmental damage caused by the production process, its packaging, distribution and disposal is assessed. The anti-pollution certificates can be other parameter to measure the achievement of this strategic goal (Morden, 2016).
The second strategic goal of the company is to become market leader in the packaging and labelling industry at the global market (Rothaermel, 2015). To attain this they need to plan their business strategically. The achievement of this strategic goal can be assessed in two ways. The increasing market share is an indicator of gradual movement towards becoming a market leader. The brand position is another way to know that the company is moving on the right track to eventually bear the flagship in their industry.
Improved Sustainability Culture
PAL can develop sustainability culture among its stakeholders in many ways:
Employees
Customers
Suppliers
Specific Societal Values
Based upon the Hofstede analysis, certain implications of differences between the nature and behaviour of the workforce in Australia and Vietnam has been taken into consideration. It is very important for the firm to acknowledge the differences and frame strategies that would help in certain a good impression on the employees. Based upon such implication certain strategies have ben stated below:
Performance measure for employees in Australia: Assessing the green consciousness among the staff and monitoring their actions would be one of the most effective performance measures for employees in Australia. The workforce in that country has high rate of individualism and low degree of power distance, hence, monitoring their performance through such measures would be effective.
Performance measure for employees in Taiwan and Vietnam: Tracking the performance of the employees to see how they could use sustainability to make their business cost effective. Such strategy has bene chosen based upon the long term orientation and high uncertainty avoidance attributes of the people. Hence, tracking their work would be beneficial in such cases for measuring their performance as they are accustomed to such manners of work.
Performance measure for suppliers in Australia: Creation of green image by the suppliers’ business would be effective ion Australia. The suppliers have low uncertainty avoidance attribute that would allow them to undertake new processes in business.
Performance measure for suppliers in Taiwan and Vietnam: Increasing their organisational pride through sustainability is considered to be a good performance measurement process for the suppliers in Vietnam and Taiwan. There is high degree of power distance in these countries along with high rate of uncertainty avoidance, hence, an impact of organizational pride would provide the suppliers with faith towards doing business with the firm.
Performance measure for customers in Australia: Advertising and promoting the use of eco-friendly and sustainable products for increasing sustainability in the society is a good measurement technique for customers in Australia. The people of Australia have high rate of individualism and do not associate with any risk to uncertainty, hence such promotion al activities would instigate the consumers to buy the products and to try something new.
Performance measure for customers in Taiwan and Vietnam: Making the customers aware of the need of sustainability by sales campaigning is one of the best techniques for measuring performance of the customers in Taiwan and Vietnam. In such places, people have low individualism and indulgence rate and they are hesitant to try new products. Hence, educating them regarding the products and its advantages is quite necessary.
Introduction
According to Newbold, Carlson and Thorne (2012), business economics can be defined as the field of study that contributes to the applied economics in several business enterprises. The cost and profits are gauged against each other in order to gain proper insight into the field of business economics. The following paper undergoes a research paper that analyses the cost effective method of providing sanitation to the children studying in the organization of pony lover’s maths (PLM). The (PLM) is an organization that provides mathematics tuition to children. Moreover, in order to provide health security the organization is planning for appropriate sanitation facility. The sanitation is provided following two options in the research paper they are water closet toilet and earth closet toilet respectively. The following analysis will compare the two options based on their cost effectiveness and would recommend either of the process for the client.
Analysis
Average rainfall method
|
Statistic Element |
January |
February |
March |
April |
May |
June |
July |
August |
September |
October |
November |
December |
|
Mean rainfall (mm) for years 1869 to 2007 |
132.1 |
121.1 |
94.6 |
61.9 |
58.4 |
56.8 |
52 |
39.5 |
46.7 |
72.2 |
89.5 |
120 |
|
Other Information is Below: |
||||||||||||
|
Litres per sq. metre of roofing for 1mm of rain |
1 |
|||||||||||
|
Sq. metres area of roof |
96 |
|||||||||||
|
Monthly drinking water usage for horses (Litres (L)) |
3200 L |
|||||||||||
|
Other water usage per month (Litres (L)) |
1000 L |
|||||||||||
|
Water usage Per Year for flushing toilet in Waste Water System |
35,000 L |
|||||||||||
|
Rainwater tank capacity (Litres (L)) |
25,000 L |
|||||||||||
|
Beginning volume of rainwater as at 1 October (Litres (L)) 70% |
17,500 L |
It can be observed from the above rainfall charts that the average rainfall is continuously decreasing over the months and that the projects one will be difficult for the organization in terms of implementation. The minimum capacity of rainwater harvesting is 5,000 liters, whereas the average rainwater volume is 17,500 liters, which is far beyond the minimum capacity. Hence, the rainwater harvesting would not support option 1 as a appropriate method of sanitation.
Option 1
The PLM complex feel the need to build a toilet complex in their surrounding in order to make it easier for the students to carry on their classes without wasting more time on reaching a complex, which is far away from the PLM complex (as excerpted from the case),. Moreover, the proximity of the toilets is an added advantage for the organization to run in efficiently. Two options are provided for building the toilet facility within the organization, which would require varied costs depending on multiple factors. The first factor that increases the cost of water closet toilet prevalent in greater Australia is the installation cost of the electrical pump, which is used instead of the solar sources. The installation of the electric pump costs up to 30 dollar per year Moreover, a septic tank is being installed in order to treat the eco safe waste, which further costs up to 12,500 dollar. In Addition to this, the treatment of the eco safe waste needs expenditure of 250 dollar per year with an additional replacement expenditure of 60 dollar per year resulting in an expenditure of 12,840 dollar. The Eco safe waste water management is been prevalent in Australia since many years, this particular process initiate to eradicate the consumption of waste water, which further degrades the health and sanitation condition of the population. Therefore, the initiative undertaken by PLM will certainly increase the health benefits of the children taking tuitions from the PLM organization.
Option 2
The second option of managing the sanitation is termed as the earth closet toilet. It is characterized as the self-composting toilet, which contains four toilet chambers. The chambers are built at a cost of 2,254 dollar. Further associated costs are also involved in with the building up of the toilet structure. The toilet adds on a cost of 4.5 dollars on the system used for keeping away the odour from the bathroom. The odour removing pipes are also installed at the rate of 780 dollar and the overall maintenance costs of the earth closet toilet include 200 dollars. In addition, the nature quick microbes and the nature flush enzymes include a cost of 210 dollar for each year resulting in a total cost of 3548.5 dollar, which is much less compared to the water closet toilet prevalent in Australia.
NPV
As it is observed that the second option is lucrative towards providing the sanitation to the organization and to the students approaching there it is also worthwhile to calculate the net present value (NPV) of the two investments and comparing them with each other (Osborne, 2010). The net present value of investments is calculated in order to gauge the profitability of the investments in terms of the cost incurred. The more the cost, the less is the profit margin and the lower the costs the more is the profit margin. The formula using which the NPV is calculated is C*{1-(1+R) ^-t}/R. in this formula C represents the period, which is 15 years according to the case study. R is the desirable interest rate at which the organization induces to increase the profit rate and t is the number of period within which the organization wants to breakeven (Hajian-Tilaki, 2013). The NPV of the first investment is 12,850 *{1-(1+6)^15}/6 which is equal to 7160.86 dollars and the NPV of the second investment is similar to the initial investment. Therefore, in terms of net present value both the investment is providing similar return to the organization. In the second toilet investment the NPV of the investment has been come up to be 1979 dollars.
As the costs of the second project is les and is feasible for the organization t incorporate as a model it should focus on earth closet toilet. This approach will save greater amount of money for the organization.
Conclusion
it can be noticed from the above report that option 2 is the most viable option for the organization because it includes lower cost of implementation for the sanitation project. Moreover, the second option will generate more profit for the organization and will lead to more students for appropriate health benefits.
Reference List
Galliers, R.D. and Leidner, D.E., 2014. Strategic information management: challenges and strategies in managing information systems. 5th ed. Abingdon: Routledge.
Hajian-Tilaki, K., 2013. Receiver operating characteristic (ROC) curve analysis for medical diagnostic test evaluation. Caspian journal of internal medicine, 4(2), p.627.
Morden, T., 2016. Principles of strategic management. 7th ed. Abingdon: Routledge.
Newbold, P., Carlson, W. and Thorne, B., 2012. Statistics for business and economics. 8th ed. London: Pearson.
Osborne, M.J., 2010. A resolution to the NPV–IRR debate?. The Quarterly Review of Economics and Finance, 50(2), pp.234-239.
Rothaermel, F.T., 2015. Strategic management. 6th ed. New York: McGraw-Hill Education.
Welford, R., 2016. Corporate environmental management 1: systems and strategies. 8th ed. Abingdon: Routledge.
Wood, R., Stadler, K., Bulavskaya, T., Lutter, S., Giljum, S., de Koning, A., Kuenen, J., Schütz, H., Acosta-Fernández, J., Usubiaga, A. and Simas, M., 2014. Global sustainability accounting—developing EXIOBASE for multi-regional footprint analysis. Sustainability, 7(1), pp.138-163.
Yue, D., You, F. and Darling, S.B., 2014. Domestic and overseas manufacturing scenarios of silicon-based photovoltaics: Life cycle energy and environmental comparative analysis. Solar Energy, 105, pp.669-678.
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