Abstract
A general strive exists for achieving the wanted results with as limited resources as possible. There is a need for ever more cost-effective organisations, making this paper required to improve the policy efficiency and raise the technological standard in various communities. The launched economic instrument also improves the ecological footprint of the organisations in question. The Naturally Optimised Revenue Demand in Communities (NORDIC) model is introduced to improve the flow of physical and immaterial utilities through entities of different kinds, such as producing companies and nations. The basis for the work is the existing Efficient Use of Resources for Optimal Production Economy (EUROPE) model, which is developed to become more powerful. Constructed shadow costs are added to the bookkeeping systems of organisations to give economic incentives to improve the economy, technology and environment. The method provides a single key indicator to improve performance. A manual for the practical use of the NORDIC model is presented. The case study shows how to induce an economic incentive to reduce the costs and increase the efficiency for the health care, education and social services in the nation of Sweden. The model shows utility for various entities, such as public sectors, within nations. Citizens get a better life, and improved health, due to a better economy when the results in this paper are implemented.
Highlights
The background for this work is the common strive for achieving the wanted results with as limited resources as possible
The main hypothesis in this paper is that the flow of physical and immaterial utilities through entities of different kinds can be improved by applying the Naturally Optimised Revenue Demand in Communities (NORDIC) model
The research questions that we address are: 1) How can we use the NORDIC model to improve the economic efficiency of communities, such as the health care, education and social services? 2) How can a versatile economic tool be developed for this purpose? 3) For whom is this tool important? and 4) Who are the other potential end users
Summary
The background for this work is the common strive for achieving the wanted results with as limited resources as possible. The need for ever more cost-effective organisations justifies taking up the study. This paper is required to improve communities. The Efficient Use of Resources for Optimal Production Economy (EUROPE) model [1] [2] [3] [4] [5] is developed to become more powerful. The practical use of the EUROPE model [6] is improved. Shadow costs [7] are the basis
Sign-in/Register to view highlights & summary Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
