Productivity improvement has been one of the keys to improved quality of life over the past 200 years. Structural changes in production processes as labor use declines and energy and equipment use increases are having major impacts on society (PEOPLE) and the environment (PLANET) while making it possible to improve PROFIT. With money metrics most productivity improvement benefits profit without commensurate improvement in people and environmental benefit.
The document discusses the emergence of a "Third Industrial Revolution" driven by the convergence of renewable energy technologies and internet communication. It outlines five pillars that define this revolution: 1) renewable energy mandates and incentives, 2) converting buildings into micro-power plants, 3) energy storage technologies like hydrogen, 4) an "energy internet" connecting distributed energy sources, and 5) electric vehicles that can plug into the grid and sell energy back. The document argues this infrastructure transition will create jobs, businesses and a more distributed and collaborative new economic paradigm.
This document proposes a system called Multi-Dimension Impact Accounting (MDIA) to measure corporate impacts on people, society, and the environment, similar to how traditional accounting measures financial impacts. MDIA would create consistent metrics to account for positive and negative externalities across human capital, manufactured capital, and natural capital. It would integrate these impact accounts with financial accounts to provide a more comprehensive view of business performance over time. The document outlines initial ideas for the data architecture and reporting framework to implement MDIA and standardize impact measurement. Feedback is requested to further develop the concepts.
The document discusses the concept of multi-dimensional impact accounting and the central role of process. It notes that process uses various inputs and produces products, and determines efficiency and impact on people and the planet. Process occurs throughout supply chains and within organizations. Accounting needs to consider both the financial and impact dimensions to fully account for the effects of economic activity on society and the environment.
Marketing reimagined within the fourth industrial revolutionSherif El Touny
Technology trends is building up a new industrial revolution. Everything will change. Digital transformation will be part of every organization. The presentation speaks about IOT, AR, VR and many trends that will affect marketing and will take it to different dimensions
Book review by Luca Lamera
"The Fourth Industrial Revolution". Klaus Schwab, founder of the World Economic Forum.
-
topics: IoT, Industry 4.0, Tech, Innovation, Future, Robotics, Automation.
-
Please do not hesitate to contact me if you have any questions.
Luca Lamera
SIZE MATTERS 4 ... PERSPECTIVES
A workshop at MIT to link mathematics with the realities of a very complex global integrated socio-enviro-economic system that has been very badly served by money as a metric and a dangerously simplified financial system.
This document provides an overview of Multi Dimension Impact Accounting (MDIA), which aims to develop a framework to account for the impacts of economic activity across multiple dimensions or perspectives, beyond just financial metrics. It discusses the need to consider perspectives beyond just the organization, such as people, processes, products, and place. It also outlines how MDIA would integrate impact accounting into the existing framework of financial accounting to provide a more holistic view of the impacts of economic activity on financial, human, natural, and built capital.
Technology is one of the factors of change. When new disruptive technology is introduced, it can change industries. We have many examples of that and will start this journey it one of the most important innovation that has come in our lifetimes, the smartphone. We will explore the impact of the smartphone and the fate of existing companies at the time when iPhone, the first smartphone as we know them, was introduced to the world.
We will also look at other examples from history. Then we look at the broader picture, past industrial revolutions and the one that we are experiencing now, the fourth industrial revolution. Specifically we look briefly at the technologies that fuel this revolution, for example artificial intelligence, robotics, drones, internet of things and more.
The document discusses the emergence of a "Third Industrial Revolution" driven by the convergence of renewable energy technologies and internet communication. It outlines five pillars that define this revolution: 1) renewable energy mandates and incentives, 2) converting buildings into micro-power plants, 3) energy storage technologies like hydrogen, 4) an "energy internet" connecting distributed energy sources, and 5) electric vehicles that can plug into the grid and sell energy back. The document argues this infrastructure transition will create jobs, businesses and a more distributed and collaborative new economic paradigm.
This document proposes a system called Multi-Dimension Impact Accounting (MDIA) to measure corporate impacts on people, society, and the environment, similar to how traditional accounting measures financial impacts. MDIA would create consistent metrics to account for positive and negative externalities across human capital, manufactured capital, and natural capital. It would integrate these impact accounts with financial accounts to provide a more comprehensive view of business performance over time. The document outlines initial ideas for the data architecture and reporting framework to implement MDIA and standardize impact measurement. Feedback is requested to further develop the concepts.
The document discusses the concept of multi-dimensional impact accounting and the central role of process. It notes that process uses various inputs and produces products, and determines efficiency and impact on people and the planet. Process occurs throughout supply chains and within organizations. Accounting needs to consider both the financial and impact dimensions to fully account for the effects of economic activity on society and the environment.
Marketing reimagined within the fourth industrial revolutionSherif El Touny
Technology trends is building up a new industrial revolution. Everything will change. Digital transformation will be part of every organization. The presentation speaks about IOT, AR, VR and many trends that will affect marketing and will take it to different dimensions
Book review by Luca Lamera
"The Fourth Industrial Revolution". Klaus Schwab, founder of the World Economic Forum.
-
topics: IoT, Industry 4.0, Tech, Innovation, Future, Robotics, Automation.
-
Please do not hesitate to contact me if you have any questions.
Luca Lamera
SIZE MATTERS 4 ... PERSPECTIVES
A workshop at MIT to link mathematics with the realities of a very complex global integrated socio-enviro-economic system that has been very badly served by money as a metric and a dangerously simplified financial system.
This document provides an overview of Multi Dimension Impact Accounting (MDIA), which aims to develop a framework to account for the impacts of economic activity across multiple dimensions or perspectives, beyond just financial metrics. It discusses the need to consider perspectives beyond just the organization, such as people, processes, products, and place. It also outlines how MDIA would integrate impact accounting into the existing framework of financial accounting to provide a more holistic view of the impacts of economic activity on financial, human, natural, and built capital.
Technology is one of the factors of change. When new disruptive technology is introduced, it can change industries. We have many examples of that and will start this journey it one of the most important innovation that has come in our lifetimes, the smartphone. We will explore the impact of the smartphone and the fate of existing companies at the time when iPhone, the first smartphone as we know them, was introduced to the world.
We will also look at other examples from history. Then we look at the broader picture, past industrial revolutions and the one that we are experiencing now, the fourth industrial revolution. Specifically we look briefly at the technologies that fuel this revolution, for example artificial intelligence, robotics, drones, internet of things and more.
Future of Power: Håndtering af nye teknologier - Kim EscherichIBM Danmark
This document discusses the opportunity for growth and innovation in the Internet of Things (IoT) domain. It defines the key aspects of an instrumented, interconnected and intelligent IoT. Examples are given of IoT innovations and use cases, such as using sensor data to improve bus transportation performance and help retailers track inventory in real time. The challenges of IoT are also addressed, such as how to generate insights from the vast amounts of data.
Facing the 4th industrial revolution | Morgenbooster #781508 A/S
Se eller gense slides fra denne Morgenbooster og bliv inspireret af Digital Strategist i Netcompany A/S, Klaus Bundvig, som gjorde os kloge på den fjerde industrielle revolution drevet af nye teknologier, som vi står overfor.
The document summarizes Ju-Ho Lee's presentation on Korea's need to transform from a fast follower to a first mover in innovation to succeed in the Fourth Industrial Revolution. Some key points:
- Korea is lagging other Asian countries in readiness for the Fourth Industrial Revolution according to World Economic Forum rankings.
- To achieve growth, Korea must transform its innovation ecosystem from one focused on fast following to one producing original products and platforms to become a first mover. This requires nurturing startups and collaboration between companies, universities and research.
- Korea also needs a "learning revolution" with education reform that emphasizes creativity, lifelong learning and 21st century skills rather than rote memorization, to prepare workers
For the most time of human history, life was local and linear. Local in the way that anything that happened was close by, a least within a walking distance. Linear in the way that your life was the same as your parents and your children. Nothing ever changed.
Just like the evolution of man, technology improvements follow an evolutionary progress. New ideas or products are to begin with immature and fragile with slow improvements. Then the progress accelerates until the products become mature and taken for granted. Then the cycle repeats and a new layer of technology is added to the previous. This process is exponential. One such observation of exponential is Moore’s Law.
We will explore what exponential means. We look at Moore´s law and The Law of the Accelerating returns.
New beginnings for the economy - the hidden opportunitySigurd Rinde
We are only half way into the information age. Each age transition consists of two phases - the efficiency then the effectiveness phase - and we have yet to start on the last one.
That alone could yield at least 30 years of substantial economic growth world wide.
This document introduces Nigel, an artificial intelligence created by Kimeria Systems that is able to comprehend speech and text to understand meaning. Nigel uses a single core algorithm to expand space-time and is a powerful network technology that can revolutionize areas like reducing global poverty, waste and energy, medical research, and more. It concludes by thanking the viewer and providing contact information for Mounir Shita, founder and CEO of Kimeria Systems.
ICT has significantly impacted employment patterns and lifestyles. It has increased unemployment in fields like manufacturing, secretarial work, and accounting as machines have replaced human labor. However, it has also created new jobs in areas like IT, computer programming, and web design. ICT devices have automated many tasks but also introduced conveniences like mobile phones and smart appliances. They have changed work patterns through teleworking and longer or less traditional hours. Overall, ICT has transformed both work and life.
The document discusses how a new product development ecosystem will reinvent manufacturing by 2020. It will leverage collaborative design tools, digital fabrication, ubiquitous computing/Internet of Things, big data analytics, social commerce, and cloud-based design tools. This will allow for low volume, customized products to be designed and manufactured based on customer discovery and feedback. The author believes this new ecosystem can transform manufacturing and how products are designed and brought to market.
At any given moment it is easy to look back to see how technology has changed over time. At the same time it is difficult to see what transformations are taking place in current moment, and even more difficult to see where things are going.
We will explore what technology is. For us it may be the latest tech stuff we see, something new. But what about everyday objects that we take for granted. Are those not technologies also?
How does technology evolve and where did it come from? We look at some ideas on evolution of technology and how it is similar to biology in some ways. We will also look at the origin of the word technology. Finally we will define the term we will use in the course. Terms defined are technology, product performance, and innovation to name few.
The document discusses the need for multi-dimensional impact accounting (MDIA) to measure the impacts of economic activities from different perspectives, including people, organizations, products, and places. It outlines that MDIA would account for positive and negative externalities not captured by traditional financial accounting. MDIA uses a framework of measuring the state at the beginning and end of a period, along with the flows and activities that caused changes in state across people, planet and profit dimensions. This allows impacts to be measured from various stakeholder perspectives.
The document compares the industrial revolution and the digital revolution in terms of their impacts on society. Both revolutions improved communication and increased global connectivity. However, the industrial revolution had a greater overall impact because it introduced inventions like the factory system that increased production efficiency and made goods more affordable. While the digital revolution continues to transform society through computers and the internet, many modern technologies would not exist without the innovations of the industrial revolution.
TVA ... True Value Accounting ... takes into consideration the impact of everything in the supply chain. TVA helps to change the decision dynamic in the supply chain so that social and environmental impact is taken into consideration as well as simply price and profit. Modern consumers are increasingly become aware of the negative externalities that are associated with products, and companies will be well advised to take note.
The New Product Development Ecosystem (Sketching in Hardware 2012 presentation)Mike Kuniavsky
(look at slide notes for full talk transcript)
Imagine a world 8 years from now where instead of a warehouse, Amazon is a factory, where products are made in small quantities based on direct input from users to designers. In this world design directly drives product creation, and where data informs design.
(special thanks to Joel Truher for many of the ideas and Alex Chaffee for the Amazon example)
The document summarizes a TechTalk presentation on the future of society with AI. It discusses how AI is currently outperforming humans in many areas like driving, knowledge, image analysis and more. It then outlines the effects of increasing automation on jobs in the short term (1-5 years), mid term (5-10 years), and long term (10-30 years). In the short term, about 45% of jobs could be automated and 5 million jobs worldwide lost by 2020. In the mid term, 400-800 million jobs may be lost, equal to 30% of the global workforce. In the long term, AI may be able to perform most jobs currently done by humans, potentially leading to widespread unemployment without solutions
The normal interaction with computers is with keyboard and a mouse. For display a rectangular somewhat small screen is used with 2D windowing systems. The mouse was invented more the 40 years ago and has been for 20 years dominant input. Now we are seeing new types of input devices. Multi-touch adds new dimensions and new applications. Natural user interfaces or gesture interfaces where people point to drag objects. Computers are also beginning to recognize facial expressions of people, so it knows if you are smiling. Voice and natural language understanding is getting to a usable stage. All this calls all types of new applications.
Displays are getting bigger. What if any surface was a screen? If you could spray the wall with screen? Or have you phone project images to the wall.
This lectures explores some of these new types of interactions with computers and software. It makes the old mouse look old.
MDIA p3 00 WHY SOCIETY NEEDS BETTER METRICSPeter Burgess
Society needs better metrics because the complex modern global socio-enviro-economic system is not achieving sustainable results. The data are clear that the singular focus on profit for the corporation and wealth for owners is not giving a good result for most people nor the environment. Better metrics will be a start to solving this problem of systemic dysfunction. The system is complex. There is no perfect answer, but it is possible to achieve a better world by getting a large number of people to make better decisions. A starting point for that is better metrics. system is complex. There is no perfect answer, but it is possible to achieve a better world by getting a large number of people to make better decisions. A starting point for that is better metrics, and, as Peter Drucker famously said, you manage what you measure!
TVA p3 00 WHY SOCIETY NEEDS BETTER METRICS 151005Peter Burgess
WHY society needs better metrics ... because the complex modern global socio-enviro-economic system is not achieving sustainable results. The data are clear that the singular focus on profit for the corporation and wealth for owners is not giving a good result for most people nor the environment. Better metrics will be a start to solving this problem of systemic dysfunction.
Multi Dimension Impact Accounting (MDIA) is a framework of metrics that starts off with conventional money based double entry accounting and brings in all the important things that impact society (people) and the environment (planet). MDIA has multiple perspectives rather than simply having a business focus. People matter and environment matters just as much, if not more than business and profit. As Peter Drucker said, you manage what you measure!
Future of Power: Håndtering af nye teknologier - Kim EscherichIBM Danmark
This document discusses the opportunity for growth and innovation in the Internet of Things (IoT) domain. It defines the key aspects of an instrumented, interconnected and intelligent IoT. Examples are given of IoT innovations and use cases, such as using sensor data to improve bus transportation performance and help retailers track inventory in real time. The challenges of IoT are also addressed, such as how to generate insights from the vast amounts of data.
Facing the 4th industrial revolution | Morgenbooster #781508 A/S
Se eller gense slides fra denne Morgenbooster og bliv inspireret af Digital Strategist i Netcompany A/S, Klaus Bundvig, som gjorde os kloge på den fjerde industrielle revolution drevet af nye teknologier, som vi står overfor.
The document summarizes Ju-Ho Lee's presentation on Korea's need to transform from a fast follower to a first mover in innovation to succeed in the Fourth Industrial Revolution. Some key points:
- Korea is lagging other Asian countries in readiness for the Fourth Industrial Revolution according to World Economic Forum rankings.
- To achieve growth, Korea must transform its innovation ecosystem from one focused on fast following to one producing original products and platforms to become a first mover. This requires nurturing startups and collaboration between companies, universities and research.
- Korea also needs a "learning revolution" with education reform that emphasizes creativity, lifelong learning and 21st century skills rather than rote memorization, to prepare workers
For the most time of human history, life was local and linear. Local in the way that anything that happened was close by, a least within a walking distance. Linear in the way that your life was the same as your parents and your children. Nothing ever changed.
Just like the evolution of man, technology improvements follow an evolutionary progress. New ideas or products are to begin with immature and fragile with slow improvements. Then the progress accelerates until the products become mature and taken for granted. Then the cycle repeats and a new layer of technology is added to the previous. This process is exponential. One such observation of exponential is Moore’s Law.
We will explore what exponential means. We look at Moore´s law and The Law of the Accelerating returns.
New beginnings for the economy - the hidden opportunitySigurd Rinde
We are only half way into the information age. Each age transition consists of two phases - the efficiency then the effectiveness phase - and we have yet to start on the last one.
That alone could yield at least 30 years of substantial economic growth world wide.
This document introduces Nigel, an artificial intelligence created by Kimeria Systems that is able to comprehend speech and text to understand meaning. Nigel uses a single core algorithm to expand space-time and is a powerful network technology that can revolutionize areas like reducing global poverty, waste and energy, medical research, and more. It concludes by thanking the viewer and providing contact information for Mounir Shita, founder and CEO of Kimeria Systems.
ICT has significantly impacted employment patterns and lifestyles. It has increased unemployment in fields like manufacturing, secretarial work, and accounting as machines have replaced human labor. However, it has also created new jobs in areas like IT, computer programming, and web design. ICT devices have automated many tasks but also introduced conveniences like mobile phones and smart appliances. They have changed work patterns through teleworking and longer or less traditional hours. Overall, ICT has transformed both work and life.
The document discusses how a new product development ecosystem will reinvent manufacturing by 2020. It will leverage collaborative design tools, digital fabrication, ubiquitous computing/Internet of Things, big data analytics, social commerce, and cloud-based design tools. This will allow for low volume, customized products to be designed and manufactured based on customer discovery and feedback. The author believes this new ecosystem can transform manufacturing and how products are designed and brought to market.
At any given moment it is easy to look back to see how technology has changed over time. At the same time it is difficult to see what transformations are taking place in current moment, and even more difficult to see where things are going.
We will explore what technology is. For us it may be the latest tech stuff we see, something new. But what about everyday objects that we take for granted. Are those not technologies also?
How does technology evolve and where did it come from? We look at some ideas on evolution of technology and how it is similar to biology in some ways. We will also look at the origin of the word technology. Finally we will define the term we will use in the course. Terms defined are technology, product performance, and innovation to name few.
The document discusses the need for multi-dimensional impact accounting (MDIA) to measure the impacts of economic activities from different perspectives, including people, organizations, products, and places. It outlines that MDIA would account for positive and negative externalities not captured by traditional financial accounting. MDIA uses a framework of measuring the state at the beginning and end of a period, along with the flows and activities that caused changes in state across people, planet and profit dimensions. This allows impacts to be measured from various stakeholder perspectives.
The document compares the industrial revolution and the digital revolution in terms of their impacts on society. Both revolutions improved communication and increased global connectivity. However, the industrial revolution had a greater overall impact because it introduced inventions like the factory system that increased production efficiency and made goods more affordable. While the digital revolution continues to transform society through computers and the internet, many modern technologies would not exist without the innovations of the industrial revolution.
TVA ... True Value Accounting ... takes into consideration the impact of everything in the supply chain. TVA helps to change the decision dynamic in the supply chain so that social and environmental impact is taken into consideration as well as simply price and profit. Modern consumers are increasingly become aware of the negative externalities that are associated with products, and companies will be well advised to take note.
The New Product Development Ecosystem (Sketching in Hardware 2012 presentation)Mike Kuniavsky
(look at slide notes for full talk transcript)
Imagine a world 8 years from now where instead of a warehouse, Amazon is a factory, where products are made in small quantities based on direct input from users to designers. In this world design directly drives product creation, and where data informs design.
(special thanks to Joel Truher for many of the ideas and Alex Chaffee for the Amazon example)
The document summarizes a TechTalk presentation on the future of society with AI. It discusses how AI is currently outperforming humans in many areas like driving, knowledge, image analysis and more. It then outlines the effects of increasing automation on jobs in the short term (1-5 years), mid term (5-10 years), and long term (10-30 years). In the short term, about 45% of jobs could be automated and 5 million jobs worldwide lost by 2020. In the mid term, 400-800 million jobs may be lost, equal to 30% of the global workforce. In the long term, AI may be able to perform most jobs currently done by humans, potentially leading to widespread unemployment without solutions
The normal interaction with computers is with keyboard and a mouse. For display a rectangular somewhat small screen is used with 2D windowing systems. The mouse was invented more the 40 years ago and has been for 20 years dominant input. Now we are seeing new types of input devices. Multi-touch adds new dimensions and new applications. Natural user interfaces or gesture interfaces where people point to drag objects. Computers are also beginning to recognize facial expressions of people, so it knows if you are smiling. Voice and natural language understanding is getting to a usable stage. All this calls all types of new applications.
Displays are getting bigger. What if any surface was a screen? If you could spray the wall with screen? Or have you phone project images to the wall.
This lectures explores some of these new types of interactions with computers and software. It makes the old mouse look old.
MDIA p3 00 WHY SOCIETY NEEDS BETTER METRICSPeter Burgess
Society needs better metrics because the complex modern global socio-enviro-economic system is not achieving sustainable results. The data are clear that the singular focus on profit for the corporation and wealth for owners is not giving a good result for most people nor the environment. Better metrics will be a start to solving this problem of systemic dysfunction. The system is complex. There is no perfect answer, but it is possible to achieve a better world by getting a large number of people to make better decisions. A starting point for that is better metrics. system is complex. There is no perfect answer, but it is possible to achieve a better world by getting a large number of people to make better decisions. A starting point for that is better metrics, and, as Peter Drucker famously said, you manage what you measure!
TVA p3 00 WHY SOCIETY NEEDS BETTER METRICS 151005Peter Burgess
WHY society needs better metrics ... because the complex modern global socio-enviro-economic system is not achieving sustainable results. The data are clear that the singular focus on profit for the corporation and wealth for owners is not giving a good result for most people nor the environment. Better metrics will be a start to solving this problem of systemic dysfunction.
Multi Dimension Impact Accounting (MDIA) is a framework of metrics that starts off with conventional money based double entry accounting and brings in all the important things that impact society (people) and the environment (planet). MDIA has multiple perspectives rather than simply having a business focus. People matter and environment matters just as much, if not more than business and profit. As Peter Drucker said, you manage what you measure!
This document discusses the need for a new accounting system that can measure impacts on society and the environment, beyond just financial measures. It summarizes that while capitalism and conventional accounting have improved living standards for many over centuries, the system has performed poorly in recent decades. New metrics are needed that integrate social, environmental and economic impacts, similar to how conventional accounting integrates financial impacts within an organization in a concise and systematic way. The document argues this could help address issues like resource depletion, inequality and environmental degradation that current measures like GDP do not adequately capture or incentivize solving.
TVA p3-01 WHY SOCIETY NEEDS BETTER METRICSPeter Burgess
This document discusses the need for better metrics to account for societal and environmental impacts, not just financial profits. It argues that current accounting focuses too much on maximizing profits, which has led to strong corporate and GDP growth but declining wages and worsening environment issues over the past 50 years. It proposes a system called multi-dimensional impact accounting to develop metrics that also account for impacts on people, planet and long-term sustainability, not just short-term profits.
Products are used by people to live their lives and are made by companies through economic activities that have impacts throughout their supply chain and after use. Accounting only considers financial impacts, but a product's full life cycle almost always has significant negative environmental and social impacts that are not accounted for, such as resource depletion and pollution. Impact accounting seeks to incorporate these externalities by tracking changes to financial, human, natural, and man-made capital in order to give a more complete picture of a product's true costs and value.
This document discusses multi-dimensional impact accounting and how it can be used to better account for the impacts of products and economic activities. It describes how traditional financial accounting only considers monetary impacts, while ignoring impacts on other capitals like human, natural, and social capital. The document proposes a framework to adjust financial accounts by adding positive impacts not accounted for, and deducting negative externalities. It suggests impact accounting could be applied at each stage of a supply chain to aggregate impacts. The goal is to provide more transparency about total life cycle impacts to help consumers make informed choices that factor in environmental and social considerations, not just price.
Process is at the center of performance and efficiency. In the past efficiency has been all about lower costs and more profit, but in the future optimization of performance will require equal consideration to be given to impact on society (people) and impact on environment (planet). Making this happen requires significant rethinking of the metrics so that impact is quantified in a similar way that all the money profit transactions are quantified.
The document discusses multi-dimensional impact accounting (MDIA), which aims to provide a comprehensive accounting framework that considers impacts on people, planet and profit from multiple perspectives. It notes that traditional accounting only considers monetary impacts from the organizational perspective. MDIA incorporates perspectives of people, organizations, products and place. It proposes a framework where every economic activity can be recorded as an initial state, the flows/processes that change the state, and the resulting new state, to comprehensively account for social, environmental and economic impacts.
PHYSICAL CAPITAL is a component of MAN BUILT CAPITAL and an important factor in the prosperity enjoyed by many in the modern world. It is the lack of physical capital (infrastructure) that contributes to endemic poverty in much of the world caused not so much by a lack of technology but by the management dysfunction that constrains the modern socio-enviro-economic system.
The document discusses three major technological revolutions - the first based on steam power, the second on electricity and oil, and predicts a third based on digital technology and renewable energy. It notes that while new technologies have historically raised living standards, current productivity growth is slow. Several reasons for this are proposed, including the cost of transition between old and new technologies across many industries simultaneously. The document advocates for a new "doughnut economy" model and a shift to a third industrial revolution based on renewable energy infrastructure to help address economic and social challenges.
TVA p3 01 The Global SOCIO ENVIRO ECONOMIC SystemPeter Burgess
The Global SOCIO-ENVIRO-ECONOMIC System is a complex system and a significant challenge to manage in an appropriate way. While there has been progress in improving quality of life for some people using the metrics of money, it has been done at the expense of some segments of society and at a huge cost to the environment , neither of which are part of the money metrics framework.
TVA p3 00 CONCENTRATION OF ECONOMIC POWER Peter Burgess
Concentration ... becoming bigger ... is a widely adopted policy to achieve more corporate profit and increase stock value. But while the impact on profit is good, the impact of concentration on society and the environment is not. Concentration results in less competition and while the big company gains, the consumer loses. Monopoly and oligopoly are the antithesis of efficient markets.
The document outlines a framework called Multi Dimension Impact Accounting (MDIA) which aims to expand traditional accounting methods to account for impacts on people and the environment, not just financial profits. Key points:
- MDIA is built on the idea of enhancing traditional accounting's "state, process, and flow" construct to measure broader impacts.
- It proposes accounting for positive and negative impacts not currently measured, such as effects on employees, communities, natural resources, and the environment.
- The framework is still a work in progress but aims to develop a comprehensive system to account for the full impacts of economic activities, individuals, processes, and locations.
The document discusses the goal of developing a system called Multi Dimension Impact Accounting (MDIA) to measure corporate impacts on people and the environment as rigorously as traditional accounting measures financial impacts. MDIA would create standardized metrics to account for impacts on human capital/well-being, natural/environmental capital, and man-made/economic capital. It would extend double-entry accounting principles to track changes in these different types of capital over time and help manage companies' total impacts. The document outlines how MDIA would establish a comprehensive data architecture and standardized values to incorporate diverse scientific data on impacts.
This document outlines Peter Burgess's perspective on multi-dimensional impact accounting. It discusses the need to consider impacts on people, planet and profit when measuring organizational performance, rather than just focusing on financial metrics. Currently, accounting ignores externalities and effects outside the reporting boundary. The document proposes a framework that accounts for both positive and negative impacts on all elements of the socio-environmental-economic system, using measures beyond just money, to properly capture an organization's total performance and progress over time.
The document discusses the need for multi-dimensional impact accounting from multiple perspectives to fully account for the impacts of economic activity. It presents a framework that measures the financial, human, natural, and built capital impacts from the perspectives of people, organizations, products, processes, and places. Financial accounts only measure monetary impacts and ignore externalities. The framework aims to add positive and negative non-financial impacts not currently accounted for to provide a more complete picture. It can be applied to organizations, supply chains, and other economic activities and flows to measure starting and ending states from different impact dimensions and perspectives.
The document discusses the need for multi-dimensional impact accounting from various perspectives to fully account for positive and negative impacts on people, planet, and profit. It presents a framework that measures impact on human capital, natural capital, financial capital, and man-made structures from the beginning to the end of a period for any economic activity. This framework aims to address the shortcomings of traditional financial accounting, which ignores externalities and only considers monetary impacts from the perspective of an organization.
The document discusses characteristics of economic activity and the need for multi-dimensional impact accounting. It notes that traditional financial accounting only considers monetary costs and profits while ignoring broader impacts. It proposes accounting for impacts on human capital, manufactured capital, natural capital, and positive/negative externalities not currently priced. This more comprehensive accounting would provide a fuller picture of the true costs and benefits of economic activity.
This document introduces the concept of multi-dimensional impact accounting (MDIA) to track impacts across the socio-enviro-economic system, comprised of people, the environment, and man-built capital. MDIA aims to develop metrics that optimize progress for all system segments by considering externalities beyond just financial performance. The document outlines the system's components and their interrelationships over time, arguing current trajectories will lead to disaster unless a balanced approach prioritizing people, efficient infrastructure, and planetary health is adopted. MDIA builds on accounting concepts to measure system state, progress, and performance across dimensions.
MDIA p3-13 FOOD ... Company Concentration ...150815Peter Burgess
FOOD is a very important product ... it is an essential of life. The food system has evolved over time into a massive oligopoly dominated by just a few very large companies. This is not good for consumers, but very much suits decision makers working to maximize profit. It is not at all clear whether these big companies have any interest in the stakeholders other than the stockholders. The organization Food and Water Watch has compiled some very useful data about this issue.
KYC Compliance: A Cornerstone of Global Crypto Regulatory FrameworksAny kyc Account
This presentation explores the pivotal role of KYC compliance in shaping and enforcing global regulations within the dynamic landscape of cryptocurrencies. Dive into the intricate connection between KYC practices and the evolving legal frameworks governing the crypto industry.
13 Jun 24 ILC Retirement Income Summit - slides.pptxILC- UK
ILC's Retirement Income Summit was hosted by M&G and supported by Canada Life. The event brought together key policymakers, influencers and experts to help identify policy priorities for the next Government and ensure more of us have access to a decent income in retirement.
Contributors included:
Jo Blanden, Professor in Economics, University of Surrey
Clive Bolton, CEO, Life Insurance M&G Plc
Jim Boyd, CEO, Equity Release Council
Molly Broome, Economist, Resolution Foundation
Nida Broughton, Co-Director of Economic Policy, Behavioural Insights Team
Jonathan Cribb, Associate Director and Head of Retirement, Savings, and Ageing, Institute for Fiscal Studies
Joanna Elson CBE, Chief Executive Officer, Independent Age
Tom Evans, Managing Director of Retirement, Canada Life
Steve Groves, Chair, Key Retirement Group
Tish Hanifan, Founder and Joint Chair of the Society of Later life Advisers
Sue Lewis, ILC Trustee
Siobhan Lough, Senior Consultant, Hymans Robertson
Mick McAteer, Co-Director, The Financial Inclusion Centre
Stuart McDonald MBE, Head of Longevity and Democratic Insights, LCP
Anusha Mittal, Managing Director, Individual Life and Pensions, M&G Life
Shelley Morris, Senior Project Manager, Living Pension, Living Wage Foundation
Sarah O'Grady, Journalist
Will Sherlock, Head of External Relations, M&G Plc
Daniela Silcock, Head of Policy Research, Pensions Policy Institute
David Sinclair, Chief Executive, ILC
Jordi Skilbeck, Senior Policy Advisor, Pensions and Lifetime Savings Association
Rt Hon Sir Stephen Timms, former Chair, Work & Pensions Committee
Nigel Waterson, ILC Trustee
Jackie Wells, Strategy and Policy Consultant, ILC Strategic Advisory Board
Vicinity Jobs’ data includes more than three million 2023 OJPs and thousands of skills. Most skills appear in less than 0.02% of job postings, so most postings rely on a small subset of commonly used terms, like teamwork.
Laura Adkins-Hackett, Economist, LMIC, and Sukriti Trehan, Data Scientist, LMIC, presented their research exploring trends in the skills listed in OJPs to develop a deeper understanding of in-demand skills. This research project uses pointwise mutual information and other methods to extract more information about common skills from the relationships between skills, occupations and regions.
How to Invest in Cryptocurrency for Beginners: A Complete GuideDaniel
Cryptocurrency is digital money that operates independently of a central authority, utilizing cryptography for security. Unlike traditional currencies issued by governments (fiat currencies), cryptocurrencies are decentralized and typically operate on a technology called blockchain. Each cryptocurrency transaction is recorded on a public ledger, ensuring transparency and security.
Cryptocurrencies can be used for various purposes, including online purchases, investment opportunities, and as a means of transferring value globally without the need for intermediaries like banks.
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
Madhya Pradesh, the "Heart of India," boasts a rich tapestry of culture and heritage, from ancient dynasties to modern developments. Explore its land records, historical landmarks, and vibrant traditions. From agricultural expanses to urban growth, Madhya Pradesh offers a unique blend of the ancient and modern.
Economic Risk Factor Update: June 2024 [SlideShare]Commonwealth
May’s reports showed signs of continued economic growth, said Sam Millette, director, fixed income, in his latest Economic Risk Factor Update.
For more market updates, subscribe to The Independent Market Observer at https://blog.commonwealth.com/independent-market-observer.
The Rise and Fall of Ponzi Schemes in America.pptxDiana Rose
Ponzi schemes, a notorious form of financial fraud, have plagued America’s investment landscape for decades. Named after Charles Ponzi, who orchestrated one of the most infamous schemes in the early 20th century, these fraudulent operations promise high returns with little or no risk, only to collapse and leave investors with significant losses. This article explores the nature of Ponzi schemes, notable cases in American history, their impact on victims, and measures to prevent falling prey to such scams.
Understanding Ponzi Schemes
A Ponzi scheme is an investment scam where returns are paid to earlier investors using the capital from newer investors, rather than from legitimate profit earned. The scheme relies on a constant influx of new investments to continue paying the promised returns. Eventually, when the flow of new money slows down or stops, the scheme collapses, leaving the majority of investors with substantial financial losses.
Historical Context: Charles Ponzi and His Legacy
Charles Ponzi is the namesake of this deceptive practice. In the 1920s, Ponzi promised investors in Boston a 50% return within 45 days or 100% return in 90 days through arbitrage of international reply coupons. Initially, he paid returns as promised, not from profits, but from the investments of new participants. When his scheme unraveled, it resulted in losses exceeding $20 million (equivalent to about $270 million today).
Notable American Ponzi Schemes
1. Bernie Madoff: Perhaps the most notorious Ponzi scheme in recent history, Bernie Madoff’s fraud involved $65 billion. Madoff, a well-respected figure in the financial industry, promised steady, high returns through a secretive investment strategy. His scheme lasted for decades before collapsing in 2008, devastating thousands of investors, including individuals, charities, and institutional clients.
2. Allen Stanford: Through his company, Stanford Financial Group, Allen Stanford orchestrated a $7 billion Ponzi scheme, luring investors with fraudulent certificates of deposit issued by his offshore bank. Stanford promised high returns and lavish lifestyle benefits to his investors, which ultimately led to a 110-year prison sentence for the financier in 2012.
3. Tom Petters: In a scheme that lasted more than a decade, Tom Petters ran a $3.65 billion Ponzi scheme, using his company, Petters Group Worldwide. He claimed to buy and sell consumer electronics, but in reality, he used new investments to pay off old debts and fund his extravagant lifestyle. Petters was convicted in 2009 and sentenced to 50 years in prison.
4. Eric Dalius and Saivian: Eric Dalius, a prominent figure behind Saivian, a cashback program promising high returns, is under scrutiny for allegedly orchestrating a Ponzi scheme. Saivian enticed investors with promises of up to 20% cash back on everyday purchases. However, investigations suggest that the returns were paid using new investments rather than legitimate profits. The collapse of Saivian l
TEST BANK Principles of cost accounting 17th edition edward j vanderbeck mari...Donc Test
TEST BANK Principles of cost accounting 17th edition edward j vanderbeck maria r mitchell.docx
TEST BANK Principles of cost accounting 17th edition edward j vanderbeck maria r mitchell.docx
TEST BANK Principles of cost accounting 17th edition edward j vanderbeck maria r mitchell.docx
The Impact of Generative AI and 4th Industrial RevolutionPaolo Maresca
This infographic explores the transformative power of Generative AI, a key driver of the 4th Industrial Revolution. Discover how Generative AI is revolutionizing industries, accelerating innovation, and shaping the future of work.
1. MULTI DIMENSION IMPACT ACCOUNTING
File: MDIA-p3-14-PRODUCTIVITY-150707.odp Peter Burgess (c) All rights reserved
MDIA
PRODUCTIVITY
2. MULTI DIMENSION IMPACT ACCOUNTING
WORK-IN-PROGRESS.
SLIDESET STILL IN DEVELOPMENT.
UPDATES WILL BE POSTED OVER
THE NEXT SEVERAL WEEKS
3. PRODUCTIVITY has been enabled by
technology … not so much by information
technology, but by machinery and equipment
that uses data to make production productive.
MULTI DIMENSION IMPACT ACCOUNTING
4. PRODUCTIVITY is measured by comparing
output to the amount of labor that is used in
producing the output.
This is a metric that had utility when
production was constrained by a limited
supply of labor … valid until around 1970 but
since then not a significant constraint on
amount of production.
MULTI DIMENSION IMPACT ACCOUNTING
5. However … using money as a measure of
SOCIO-ENVIRO-ECONOMIC ECONOMIC
PERFORMANCE creates an unacceptable level
of distortion.
MULTI DIMENSION IMPACT ACCOUNTING
Note: Households are earning a lot more money … but when discounted for the reduced
buying power of money the income is almost the same as it was 50 years ago
6. MULTI DIMENSION IMPACT ACCOUNTING
SunSun
EOP
Financial
Capital
Human
Capital
Man Built
Capital
Natural
Capital
SunSunSun
BOP
Financial
Capital
Human
Capital
Man Built
Capital
Natural
Capital
Sun
THE MONEY ILLUSION
7. One thread of history suggests that most
factory owners have ALWAYS made
investments to improve their own profits.
Nothing else!
These owners did not embrace the idea that
impact on SOCIETY (PEOPLE) is an important
part of business purpose.
Nor did they consider ENVIRONMENTAL
matters to be of any concern for the business.
MULTI DIMENSION IMPACT ACCOUNTING
8. Another thread of history is that some
combined investment for PROFIT with the idea
that workers could live in decent conditions
and be able to live a quite good life.
Lord Leverhulme who started the company that is now
Unilever built a factory and community at Port Sunlight.
The Cadbury brothers did much the same, building
Bournville to be a factory in a country atmosphere.
MULTI DIMENSION IMPACT ACCOUNTING
9. MULTI DIMENSION IMPACT ACCOUNTING
SunSun
EOP
Financial
Capital
Human
Capital
Man Built
Capital
Natural
Capital
SunSunSun
BOP
Financial
Capital
Human
Capital
Man Built
Capital
Natural
Capital
Sun
WORKERS' HOUSING AT PORT SUNLIGHT
10. There were impressive improvements in
PRODUCTIVITY in the 19th century. Individual
production was replaced by the factory system
which produced much more with less labor.
Mechanical energy replaced purely human
energy.
MULTI DIMENSION IMPACT ACCOUNTING
11. Manufacturing 100 years ago was already quite
mechanized … quite organized …
MULTI DIMENSION IMPACT ACCOUNTING
12. MULTI DIMENSION IMPACT ACCOUNTING
SunSun
EOP
Financial
Capital
Human
Capital
Man Built
Capital
Natural
Capital
SunSunSun
BOP
Financial
Capital
Human
Capital
Man Built
Capital
Natural
Capital
Sun
SPINNING COTTON MORE THAN 100 YEARS AGO
13. MULTI DIMENSION IMPACT ACCOUNTING
SunSun
EOP
Financial
Capital
Human
Capital
Man Built
Capital
Natural
Capital
SunSunSun
BOP
Financial
Capital
Human
Capital
Man Built
Capital
Natural
Capital
Sun
FACTORY SCENE FROM THE 1920S
14. TECHNOLOGY is part of the reason for
increased PRODUCTIVITY since the 1970s
Another part is the fact of GLOBALIZATION,
which itself has been enabled by technology.
MULTI DIMENSION IMPACT ACCOUNTING
15. CONCRETE
PRODUCTIVITY improvement in pouring
concrete … from wheelbarrow to very versatile
concrete pumping systems.
MULTI DIMENSION IMPACT ACCOUNTING
16. MULTI DIMENSION IMPACT ACCOUNTING
SunSun
EOP
Financial
Capital
Human
Capital
Man Built
Capital
Natural
Capital
SunSunSun
BOP
Financial
Capital
Human
Capital
Man Built
Capital
Natural
Capital
Sun
CONCRETE USING WHEELBARROW
17. MULTI DIMENSION IMPACT ACCOUNTING
SunSun
EOP
Financial
Capital
Human
Capital
Man Built
Capital
Natural
Capital
SunSunSun
BOP
Financial
Capital
Human
Capital
Man Built
Capital
Natural
Capital
Sun
CONCRETE USING A BUCKET SYSTEM
18. MULTI DIMENSION IMPACT ACCOUNTING
SunSun
EOP
Financial
Capital
Human
Capital
Man Built
Capital
Natural
Capital
SunSunSun
BOP
Financial
Capital
Human
Capital
Man Built
Capital
Natural
Capital
Sun
CONCRETE USING A PUMPING SYSTEM
19. SHIPPING
PRODUCTIVITY improvement in shipping has
been enabled by containerization … and very
much larger ships.
MULTI DIMENSION IMPACT ACCOUNTING
20. MULTI DIMENSION IMPACT ACCOUNTING
SunSun
EOP
Financial
Capital
Human
Capital
Man Built
Capital
Natural
Capital
SunSunSun
BOP
Financial
Capital
Human
Capital
Man Built
Capital
Natural
Capital
Sun
CARGO SHIP STEVADORING … CIRCA 1950
21. MULTI DIMENSION IMPACT ACCOUNTING
SunSun
EOP
Financial
Capital
Human
Capital
Man Built
Capital
Natural
Capital
SunSunSun
BOP
Financial
Capital
Human
Capital
Man Built
Capital
Natural
Capital
Sun
CONTAINER SHIP LOADING … CIRCA 2010
22. AUTOMOBILE ASSEMBLY
PRODUCTIVITY improvement in the assembly
of automobiles has been enabled by robotics
and very much finer tolerances in the
production of sub-assemblies.
MULTI DIMENSION IMPACT ACCOUNTING
23. MULTI DIMENSION IMPACT ACCOUNTING
SunSun
EOP
Financial
Capital
Human
Capital
Man Built
Capital
Natural
Capital
SunSunSun
BOP
Financial
Capital
Human
Capital
Man Built
Capital
Natural
Capital
Sun
AUTOMOBILE ASSEMBLY … CIRCA 1950
24. MULTI DIMENSION IMPACT ACCOUNTING
SunSun
EOP
Financial
Capital
Human
Capital
Man Built
Capital
Natural
Capital
SunSunSun
BOP
Financial
Capital
Human
Capital
Man Built
Capital
Natural
Capital
Sun
AUTOMOBILE ASSEMBLY … CIRCA 2014
26. MULTI DIMENSION IMPACT ACCOUNTING
SunSun
EOP
Financial
Capital
Human
Capital
Man Built
Capital
Natural
Capital
SunSunSun
BOP
Financial
Capital
Human
Capital
Man Built
Capital
Natural
Capital
Sun
MACHINE FOR LAYING BRICK
27. The ability of LABOR to have a bigger share of
the incremental gains from productivity has
been gutted in the past 40 years …
MULTI DIMENSION IMPACT ACCOUNTING
28. In this graph the growth of corporate profit
(green) is on a log scale while the growth of
household income (blue) and real output per
hour (red) are on a standard scale.
MULTI DIMENSION IMPACT ACCOUNTING
29. MULTI DIMENSION IMPACT ACCOUNTING
SunSun
EOP
Financial
Capital
Human
Capital
Man Built
Capital
Natural
Capital
SunSunSun
BOP
Financial
Capital
Human
Capital
Man Built
Capital
Natural
Capital
Sun
THE MONEY ILLUSION
30. Part of this has been a systematic push back
on the right of workers to unionize and have
collective bargaining.
Part of this has been the reduced demand for
labor as a result of productivity improvement.
Part of this has been the relocation of jobs
through outsourcing to other locations where
workers are available at lower wages.
MULTI DIMENSION IMPACT ACCOUNTING
31. All of this has been possible because the
metrics being used do not inform decisions
makers of the facts in a way that results in
better decisions.
MULTI DIMENSION IMPACT ACCOUNTING
32. Recalling the PC paradox
The PC was the productivity tool of the 1980s.
It brought computer power to everyone and the
commercial world invested heavily in PCs to
improve office performance. After a decade,
little improvement in productivity could be
observed. Behavior change was slow.
MULTI DIMENSION IMPACT ACCOUNTING
33. Post PC productivity
By the early 1990s the technology used for the
PC was being used to drive machines in the
factory (numerical control) and then to
streamline design, prototyping and
manufacturing. Less people and significantly
better production.
MULTI DIMENSION IMPACT ACCOUNTING
34. The start of data everywhere
In the 1990s PC technology started to be
connected to the Internet. Data flows became
automated with customized Personal Digital
Assistants (PDAs) and in turn this enabled
massive improvements in supply chain
management. All of this was use of data to
improve real economy performance.
MULTI DIMENSION IMPACT ACCOUNTING
35. The downside of productivity
The modern economy has some critical
circularity. Consumer demand is driven by
spending power.
Aggregate wages determine sustainable
spending power.
Lower wages and in due course there is
reduced spending power and reduced
consumer demand.
MULTI DIMENSION IMPACT ACCOUNTING
36. The impact of lower spending power on
aggregate demand can be offset to some
extent by enabling credit.
This has been done in many creative ways
over the last thirty years.
Excessive use of this was one of the root
causes of the great recession of 2008.
MULTI DIMENSION IMPACT ACCOUNTING
37. Policy makers have not yet understood the
many systemic problem that have to be faced.
Full employment in an era of rapid increase in
productivity will result in too much production
and not enough demand.
High production and high consumption also
means dangerous impact on resource
depletion and environmental degradation
MULTI DIMENSION IMPACT ACCOUNTING
38. CLOSING OBSERVATIONS:
Productivity has changed the profile of demand
for labor;
Productivity has made higher profit margins
possible;
Wages down, profits up;
High energy use also means a high impact on
the environment
MULTI DIMENSION IMPACT ACCOUNTING
39. Policies to enable a smooth transition to a high
productivity, high quality of life and low impact
on the environment world have not been
formulated;
… and money metrics alone make doing this
virtually impossible … IMPACT metrics are also
needed for decision makers.
MULTI DIMENSION IMPACT ACCOUNTING
40. NEEDS that go unaddressed are huge!
In many 'rich' countries, infrastructure needs
massive upgrading to suit the 21st century
rather than the 19th century.
In 'poor' countries, much of the population
lacks essential infrastructure and access to
services.
MULTI DIMENSION IMPACT ACCOUNTING
41. The technology innovation that is going on at
this time is impressive.
The challenge is to use it in a manner that
delivers progress for people without doing
further damage to the environment … in fact to
achieve substantial remediation of the damage
already done.
MULTI DIMENSION IMPACT ACCOUNTING
42. Up to now, PRODUCTIVITY has delivered good
results for OWNERS but has been an
unmitigated disaster for ordinary people.
This has to be changed … and a key part of
making this change is going to be making
some fundamental changes in the way we do
the metrics.
Money metrics on their own are not enough!
MULTI DIMENSION IMPACT ACCOUNTING
43. Follow up: Request for Feedback
Getting these ideas fleshed out into a clear, simple but
comprehensive structure is a big job and remains a work-in-
progress. Many organizations are making progress with this,
but there is no broad universal framework yet that will enable
all the pieces to come together and work efficiently.
I would like to get feedback from anyone and everyone to
help move this initiative forward. While I have some clear
concepts about much of this architecture, there are many
details that I do not know enough about and need help. So,
please feel free to contact me (peterbnyc@gmail.com).
Please put something relevant and catchy in the subject line.
MULTI DIMENSION IMPACT ACCOUNTING
44. Some links and contact information:
Peter Burgess … peterbnyc@gmail.com
Peter Burgess LinkedIn profile
https://www.linkedin.com/in/peterburgess1
Link to TrueValueMetrics.org website
http://www.truevaluemetrics.org/
Link to navigation for MDIA slidesets
http://www.truevaluemetrics.org/DBadmin/DBtxt001.php?vv1=list0200-Burgess-p3-Slidesets
MULTI DIMENSION IMPACT ACCOUNTING