Environmental Management for Business MSc

Cranfield University

Human population growth and increased resource use per capita requires improved management of our global ecosystem. Approaches such as the “Sustainable Development Goals”, “Natural Capital”, “Ecosystem Services”, and “Planetary Boundaries” provide frameworks for businesses and wider society to resolve the synergies and trade-offs between major economic, environmental and social challenges. The “Circular Economy” approach refers to the development of “restorative” industrial systems that are grounded on the lessons of non-linear, feedback-rich ecosystems. The third approach is to explore the nexus between renewable energy, food, and other ecosystem services using per capita energy and food consumption. This module introduces and critiques the above frameworks and examines their application to resolve real-world problems and create commercial opportunities.

Environmental accounting is being used by institutions and businesses to guide decision making regarding competing projects and programmes. It involves financial appraisal, environmental valuation, and economic appraisal (or social cost-benefit analysis). This module explores the economic concepts and techniques that can be used for the valuation of non-market social and environmental services. You will also gain practical experience in extending a financial analysis to allow an economic appraisal.

Environmental impact assessment and life cycle analysis are important tools for evaluating the sustainability of complex renewable energy technologies and industrial processes or products. The tools and concepts taught in this module will enable you to assess the sustainability of a case study from an environmental standpoint. Analysis of relevant case studies to demonstrate the assessment process, including how to account for uncertainty and sensitivity analysis.

A critical application of environmental risk management is in the development and appraisal of policy in central government and business. Policies are developed to manage environmental risks and selection of policy options must be informed by risk based tools and techniques. Doing so demands a comprehension of the technical, organisational and human elements of governing environmental risks and developing environmental policy. This module draws these themes together by introducing core concepts and then illustrating these concepts with case studies spanning business and government, and finally application via a group exercise. Core lectures are supported by multiple case studies, and a module assignment.

This module introduces you to the context of environmental decision making, providing both a conceptual overview and practical tools for addressing environmental management problems. It aims to promote an understanding of weight-of-evidence approaches used to inform real-world environmental decisions in research, industry, and government. Central to this is an understanding of the strengths and limitations of different approaches and aspects of decision science, the social, economic, and environmental trade-offs made during decision-making, and how real-world complexity and future uncertainty is accounted for. Students will learn how to apply systems thinking to evaluate different courses of action in response to environmental challenges related to land, water, and/or energy. The module emphasises transparency, justification, and communication of decisions under uncertainty.

In this world of downsizing, restructuring and technological change, notions of traditional careers and ways of creating value have all been challenged. People are depending more upon their own initiative to realise success. Never, it seems, have more people been starting their own companies than now, particularly to exploit the World Wide Web. There’s no single Government (in either the developed or the developing world), which is not paying at least lip service to enterprise development. The aim of this module is to provide you with knowledge and skills relevant for starting and managing new ventures across the entrepreneurial life cycle. Moreover, it will prepare you on how to prepare a business pitch to an investor.

The purpose of this module is to provide you with experience of planning a project that will involve scoping and designing a product. The module provides sessions on project and planning, including sustainable design principles, project risk management and resource allocation. A key part of this module is the consideration of systems thinking approach for creating innovative solutions, ethics, professional conduct, and the role of an engineer within the wider industry context as well as considerations for equality, diversity and inclusion.

Strategic foresight research refers to a range of methods that can be used to identify, analyse and communicate insights about the future. Standard methods include horizon scanning, trend research, and scenario planning. Outputs include emerging issues, trends, visions, scenarios, and wild cards. The methods employed and insights produced are used by both private and public sector organisations to inform a wide range of policy, risk, strategy and innovation processes. Foresight research is a truly inter-disciplinary ‘science’, covering and combining developments in society, technology, economy, ecology, politics, legislation and values.

Crucially, foresight research is as much about analysing the past and present, as it is about looking to the future. Once we understand how a system has developed and works today, we can explore how it may evolve and what it may look like in the future. Strategic foresight techniques consider a wide range of possible, plausible futures so that planning can be put in place to adapt to and mitigate against various conditions. It is designed to add resilience, adaptability and flexibility to organisations in an increasingly complex and fast changing world.

This module will explore how:

• • Horizon scanning can act as a method of gathering new insights that may point us towards affirming or discrediting existing trends and developments, as well as identifying new and emerging trends and developments that are on the margins of our current thinking, but will impact on the future.
  • Other foresight methodologies (e.g. scenario planning, visioning, back-casting) can be used to help us to use the trends identified from horizon scanning to identify how the future might develop.