Managing Innovation - Terracycle

Running head: MANAGING INNOVATION
Managing Innovation
(Terracycle)
Name of the student:
Name of the university:
Author Note

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Executive summary
The primary aim of TerraCycle is to repeatedly use, upcycle and then recycle the wastes apart from
the landfilling or incinerating that. This includes the turning waste streams from linear systems to the
circular ones and permitting that in keeping that cycling under the economy. Their free programs of
recycling are been funded by various brand, retailers and manufacturers and various retailers across
the globe. This is helpful for the waste generators for collecting and recycling the wastes that are
hard-to-recycle. Through choosing the program of recycling from that platform, one can begin the
collecting at office, school and home. The following report demonstrates the innovation theories at
the company, demonstrating historical development of products and services with the theory and
suggesting further development pathways of the services and products.

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Table of Contents
Introduction:..........................................................................................................................................3
Closed loop innovation theory:..............................................................................................................3
Definitions, Principals and Processes of the theory:.........................................................................3
Evaluation of the theory:...................................................................................................................6
Application of the Closed loop Innovation Theory in the historical development context:..................9
Company background:.......................................................................................................................9
Historical Development:..................................................................................................................11
Implementation of Closed Loop Innovation Theory for the future development:..............................11
Conclusion:..........................................................................................................................................13
References:..........................................................................................................................................14
Appendix:............................................................................................................................................18

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Introduction:
The scientists and experts are searching for attest methods such that they are able to recycle
plastic within endless loop. This is to assure that it turns to be waste. At present the revolutionary
technology is seen to be developing at the present time. In this situation, the closed loop recycling is
the method where the resource or waste is collected, then recycled and further utilized to make the
similar product from where they originate. These kind of open-loop recycling solution is the most
effective option for many business as diverting waste from incineration or landfill is concerned. At
present they are various distinct recovery or recycling choice present to have the resources under the
economy as much as it could be. The down cycling or open-loop recycling is one of those processes.
Here, the materials and products are changed to latest products having reduced functionality and
lesser quality. Nonetheless, to gain actual longevity for the resource one require to look to stronger
closed-loop solutions.
Closed loop innovation theory:
Definitions, Principals and Processes of the theory:
The closed loop management system indicates to the system of management promoting the
controlled base for the outcomes preferred and the feedbacks from the systems. Deploying that
system means the activities of business like production schedules, supply chain functions and
inventory levels ate been guided through sales teams of constant orders and forecasts and feedback
from current activities around various units of business (Lannoo et al. 2019). This common style has
been distinct from the “open loop management” that is seen to be supporting feedbacks and consist
of every inputs that driven off of the set calculations that developed across just the anticipated
results. Business go for the adoption and deploying of this system chosen in this case facilitate
ability to avoid various short comings. This comprise of 5 stages. Next, there is the discovery

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including the determination of internal tools processes and concepts like vision and mission
statements, completion analysis. SWOT Analysis, central abilities for articulating the strategy
statements. Then, there is the modelling that includes the discovery platform that is further modeled
to initiatives an objectives using extra procedures and tools including key performance indicators
and flow charts. Besides, there is the stage of deployment linking strategies to physical operations
and third tool sets and procedures as process improvement, forecasting, quality management,
forecasting, budgeting and planning. Moreover, there is monitoring as the deployments moves
forward, the essential controls continues to analyses and evaluate the information and environment
of business. Lastly, there is the optimization where teams starts to investigate the strategies and then
optimize primary components that starts another loop (Xie et al. 2017).
There are some instances where the business faces failure to shut the loops. Firstly, the
closed loop quality under manufacturing scenario. All the manufacturing business consists of few
types of CAPA or corrective and preventive actions measures for the non-conformances and auditing
processes. This is to assure the elements such as training requirements and quality specifications that
are to be met. This is unfortunate various business never efficiently grasp every non-conformances
that are seen in manufacturing to the core system. At many situations reports are heard from
organizations where the team is warranty search for errors and conduct the investigations. This is to
see that the manufacturing is seen already and eradicate the main cause and never let any other
sectors of the known organization. Through moving the core system to control the managing of on-
conformances the spaces in evaluation could be eradicated (Goh 2018). Further, there is the close
loop quality for the suppliers. Various discrete manufacturing depend o the certifications of
assessment or limited inspections of the raw materials incoming and elements for assuring quality of
suppliers. Through only concentrating on the outcomes, the defect rate of suppliers the developments
turns to be complicated. The leading businesses are considering more collaborative measures with
the suppliers that assures that suppliers have process of robust quality in place and performance of

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suppliers’ ensures to be visible. In turn that drives the quality performance of the suppliers than
could be archived ever through testing just lone and as the result consequently in lesser problems as
the manufacturing goes on. These are only a couple of instances of problems in quality and the way
the process of closed loop could be helpful. Here, much more number of cases could be created for
linking the process data within various the processes and enterprise system within them. Previously,
the development those loops of feedbacks has been resource intensive in nature just needing
considerable time along with essential capital resources (Yao, Subo and Teng 2016). Nonetheless, at
present any of excitement across the quality management’s closed loop has been stemming from the
technological developments that are relatively recent having the enabled business to move the
visibility of quality performance beyond the four walls of the facility of manufacturing.
As the closed loop resource management is implemented successfully, one ideally must have
the zero waste generated. Since every products ate ending of lifecycle is assimilated to the natural
and technical systems for the benefits. Under broader contexts, the thinking of zero waste also
covers emission and the zero water pollution. This type of the targets are ambitious and need careful
analysis of life cycle at every steps. The concept of zero waste reacts to principle of sustainable
design. Here, the idea of the waste is to be eliminated. Here, the evaluating and optimizing of the
entire life-cycle of processes and products for approaching the natural systems states where no waste
is there (Schaepertoens et al. 2016). Here, the zero waste philosophy encourages the designing of the
life cycle of resources such that products are been reused. Again, no trash is seen to send to the
incinerators and landfills. Further, the recommended process is a same as the way the resource are
reused within nature. Again, the zero-waste strategy has been supporting the sustainable
development with some of the pathways. Further, the environmental sustainability must be there. It
includes the conservation of the natural resources and the minimization of the non-degradable waste
that dumped to natural ecosystems. Moreover, there is the economic sustainability with less waste
and higher efficient and lower costs. Besides, the cost of compliances with the regulations can be