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- Creators: Department of Finance
- Creators: Department of Supply Chain Management
Through the process of writing the sustainability report for InnovationSpace program, I had gained deeper understanding about applying sustainability concept into daily business procedures. As supply chain is defined as the oversight over materials, services, information and finances flowed within and among companies and industries, the new innovative supply chain management can be better adjusted according to the concern of any sustainable impact to all the stakeholders and communities. After gathering the information from industries and listening to the suggestions from academic insights, I then finalized the proposed innovative sustainability strategy for the supply chain management nowadays and I called it as Diamond Index.
Diamond Index=Avg(Environmental Stewardship+Social Responsibility +Economic Impact)^(Innovation Index)
Economic Impact (Econ)∈ [0, 10] Social Responsibility (Soc)∈[0, 10]
Environmental Stewardship (Env) ∈ [0, 10] Innovation ∈ [0, 1]
In the 21st century economy, life moves pretty fast, and change is happening all around us. For example, it was common to drive to shopping malls with your friends or family and spend the whole afternoon browsing through hundreds of items until you found the perfect purchase. Or, only a few months ago, the entire world was put on lockdown to stop the spread of COVID-19, which caused a recession when consumers stopped spending as much to start saving. Americans also used to enjoy their loud, gas-guzzling cars and trucks to get them from place to place. Now what changed, and why? The study of economics justifies how we, as human, fundamentally live and make choices every day. As we notice the results of our choices, we may continue to do the same the next day, temporarily go another route, or alter our behavior permanently. This framework presents the concept of innovation. By applying this logic to the business world, I will attempt to analyze and defend why the innovations of e-commerce, COVID-19 vaccines, and electric vehicles were the natural cause of society changing perspective to move forward toward a better tomorrow.
The Founders lab is a year-long program that gives its students an opportunity to participate in a unique team-based, experiential Barrett honors thesis project to design and apply marketing and sales strategies, as well as business and financial models to start up and launch a new business. This honors thesis project focuses on increasing the rate of vaccination outcomes in a country where people are increasingly busy (less time) and unwilling to get a needle through a new business venture that provides a service that brings vaccinations straight to businesses, making them available for their employees. Through our work with the Founders Lab, our team was able to create this pitch deck.