Turning Waste into By-Product
Turning Waste into By-Product
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DOI：
10.2139/ssrn.1337751
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发表时间：
2011-07
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影响因子：
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通讯作者：
Deishin Lee
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文献类型：
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作者：
Deishin Lee
本文研究了企业如何通过将废流转化为有用和可销售的副产品(即实施副产品协同效应)来创造和获取价值。我们表明，BPS在联合生产的两种产品之间产生了运营协同效应。从本质上讲，BPS是一种降低原始产品和/或副产品的边际成本的工艺创新。公司通过这一流程创新创造价值，并可以通过捕捉新创造的市场机会、从竞争对手手中夺取市场份额或将创新授权给竞争对手来获取这种价值。我们确定了公司的最优运营和许可策略，并找到了公司从实施业务连续性计划中获益最大的市场条件。我们表明，最优的运营和许可策略是由BPS流程创新带来的成本降低的规模驱动的。我们还表明，利用原始产品和副产品之间的协同效应可以导致反直觉的利润最大化运营策略，如增加产生的废物量，战略性地增加原始产品的数量，使其高于通常的生产量。我们提出了一个评估BPS环境影响的框架，该框架结合了最佳运营和许可策略的影响。
This paper studies how a firm can create and capture value by converting a waste stream into a useful and saleable by-product (i.e., implementing by-product synergy (BPS)). We show that BPS creates an operational synergy between two products that are jointly produced. In essence, BPS is a process innovation that reduces the marginal cost of the original product and/or the by-product. The firm creates value through this process innovation and can capture this value by capturing newly created market opportunities, taking market share from competitors, or licensing the innovation to its competitors. We determine the optimal operating and licensing strategies for the firm and find market conditions under which the firm would benefit most from implementing BPS. We show that the optimal operating and licensing strategies are driven by the size of the cost reduction enabled by the BPS process innovation. We also show that leveraging the synergies between the original product and by-product can lead to counterintuitive profit-maximizing operating strategies such as increasing the amount of waste generated, and strategically increasing the quantity of original product above the business as usual production volume. We present a framework for assessing the environmental impact of BPS that incorporates the impact of the optimal operating and licensing strategies.