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90 CHAPTER 2 • OPERATiOns PERfORmAnCE
2 The phrase ‘the triple bottom line’ was first used in 1994 by John Elkington, the founder of a
British consultancy called SustainAbility. Read Elkington, J. (1997) Cannibals with Forks: The
Triple Bottom Line of 21st Century Business. Oxford, UK: Capstone Publishing Ltd. Also good is,
Savitz, A.W. and Weber, K. (2006). The Triple Bottom Line: How Today’s Best-Run Companies Are
Achieving Economic, Social and Environmental Success – and How You Can Too. San Francisco, CA:
Jossey-Bass.
3 Elkington, J. (1998), Cannibals with Forks: The Triple Bottom Line of 21st Century Business. New
Society Publishers.
4 Jensen, M. C. (2001) ‘Value maximization, stakeholder theory, and the corporate objective
function’, Journal of Applied Corporate Finance, 14 (3), pp. 7–21.
5 Source: Novozymes annual report, 2014.
6 All quotes taken from company websites.
7 Hill, T. (1993) Manufacturing Strategy. London: Macmillan.
8 An idea closely related to one by Kano, S.T., N. Seraku, and F. Takahashi (1984) ‘Attractive qual-
ity and must-be quality’, Journal of the Society of Quality Control, 14 (2).
9 Spring, M. and Bowden, R. (1997) ‘One more time: how do you win orders: a critical appraisal
of the Hill manufacturing strategy framework’, International Journal of Operations and Production
Management, 17 (8).
10 Based partly on information provided by Volkswagen Kommunikations (2007) and The
Economist (2005), ‘Dark days for Volkswagen’, 16 July.
11 Mintzberg, in his classic paper, Mintzberg, H. (1978) ‘Patterns of strategy formulation’,
Management Science, 24 (9), carried out an analysis of VW on which the first part of this analy-
sis is based.
12 Skinner, W. (1969) ‘Manufacturing – missing link in corporate strategy’, Harvard Business
Review, May–June, p. 136.
13 Skinner, W. (1974) ‘The focused factory’, Harvard Business Review, May–June, p. 113.
14 Sources include: The Economist (2013) ‘Ryanair’s future - Oh really, O’Leary?’, 19 October; BBC
News website (2010) ‘OFT watchdog says Ryanair payment policy is “puerile”’, 3 January.
15 For further discussion see Ghemawat, P. and Patricio del Sol (1998) ‘Commitment versus
flexibility?’, California Management Review, 40 (4).
16 Hill, T. (1993) Manufacturing Strategy. London: Macmillan.

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