Overview/ Summary of Lesson
Today’s lesson was on the Biobusiness Revolution in the areas of Agribiology, Environmental Life Sciences and Industrial Biotechnology. As Prof mentioned last week, the biobusiness industry has been expanding rapidly and one of the industries which probably has the greatest growth potential would be the Green industry, which focuses on agricultural processes and land usage.
I largely agree with the quote that Prof shared during the start of the lesson:
“When we are able to grow the resources we need, we will finally be on the road to sustainability.”
The reason for our survival today has depended largely on the abundance of resources through the centuries. Given that population is expected to increase exponentially by 2050, sufficient resources are imperative for sustainability. Hence, it is only through growth of resources may we achieve this feat.
Interesting Observations
In discussing sustainability, we need to look at how different factors (social, economic, environmental, technological aspects) in a country interact to make it sustainable. For instance, as discussed in today’s lesson, overcrowding in India’s rural areas has caused a movement of people from rural to urban, which might actually increase sustainability of these people because they will have more access to resources in the urban areas (assuming these areas are less crowded). In the rural areas, farmers are only given 0.2ha to farm their crops which is hardly enough space for a decent harvest or good crops. Many thus move over to the urban areas in search of the “Bright Lights”, somewhat guaranteeing a higher standard of living. No doubt there will be a difficult transition phase where initial migrant are unable to find a job given the low levels of education and skill they have, after about 10-15 years, these migrants will possibly lead better lives. Nevertheless, the big picture that we should see here is that there is always movement towards more sustainable means whether caused by demographic changes or technological improvements. It is ingrained in all human beings the message of survival.
"Civilization as it is known today could not have evolved, nor can it survive, without an adequate food supply" –Norman Borlaug-
I feel that this statement reflects the push of human civilization today towards looking at creative and different ways of food supply. We had a presentation on tower crops today, which are crops grown on the rooftops of buildings using a combination of hydroponics and The idea is refreshing and probably sustainable (given that the restaurant owner is able to provide vegetables for his salads for almost 10 weeks by growing crops in such a small space). Yet this might not be feasible in Singapore given the time constraints that citizens face and the question of whether such a practice is efficient is at large.
Moving on to the discussion on Genetically Modified (GM) crops and whether it is a possible answer to sustainability. Personally, I do not think that the consumption of GM crops is undesirable, it in fact might bring about more benefits to one’s body. According to reading 4, Transgenic varieties and hybrids of cotton, maize, and potatoes, contain genes from Bacillus thuringiensis which effectively controls a number of serious insect pests. There will be less risk of stomach cancer from the use of insecticides, and healthier crops. Scientists are also looking into improving the nutritional quality of our food through transferring genes into food staples. From reading 4: Scientists from the Swiss Federal Institute of Technology (Zurich) and the International Rice Research Institute (Los Baños, The Philippines) have recently succeeded in transferring genes into rice to increase the quantities of vitamin A, iron, and other micronutrients. This work could eventually have profound impact for millions of people with deficiencies of vitamin A and iron, causes of blindness and anemia, respectively. Could GM crops then be an answer to lack of nutrition and lack of food supply in Less Developed Countries?
I think GM crops are definitely a feasible option in the long run, but there are certain barriers that LDC must remove in order for this to work.
1. The perception that GM crops are contaminated and inedible should be changed.
2. There has to be an accompanying level of education and knowledge that needs to be imbued in the population for the acceptance of such a product.
Issues for discussion
Prof raised an interesting idea in class: Since 70% of food is used as feed for livestock but only 25% of meat is provided would it be more sustainable if the whole world was vegetarian?
Ratings
7.5/10
Tuesday, September 28, 2010
Wednesday, September 22, 2010
TWC Lesson 6
In today’s lesson, we covered mainly the area of technology and how it has impacted the biobusiness industry. The Biobusiness industry comprises mainly of pharmaceuticals, life science research, agricultural and environmental aspects just to name a few. Biobusiness is given its name because it is essentially a commercial activity that is based on the understanding of life sciences and its processes. Although the industry already constitutes 25% of world GDP and has employed 40% of the world’s workforce, this industry is still relatively new and expanding. With the many potential areas such as nanotechnology and biotechnology that have yet to be fully explored, this is definitely an industry where there is ample opportunity (to make $ and a name for thyself!) for new players to break in as long as they may overcome the barriers to entry i.e. high start up costs, and non- immediate returns.
Firms that invest in Biobusiness have the initial idea of discovering new concepts and ideas from research in a specific industry such as agriculture, and from there, implementing these concepts in other industries such as medicine and healthcare. Thus, there will be a transition from a low value-added industry to a high value-added industry with time where potential products could fetch a higher value. This increases the attractiveness of such an industry because the returns are definitely worthwhile in future. In terms of healthcare and pharmaceutical industry, according to Reading 1, “With the shift in paradigm from disease management to wellness management and disease prevention has come greater interest in alternative and complementary medicines/therapies by consumers not only in the Asia-Pacific region but globally”. Disease management would refer the management of chronic conditions i.e. managing and curing cancer through chemotherapy. Wellness management simply put, would refer to the management of people who are able and well. This includes prevention of sicknesses, diseases and even exercise regimes to keep these people healthy. These new interest in different aspects of healthcare have resulted in a renewed interest in the life science and pharmaceutical field, where there is even more extensive research in to diagnostics, medical devices etc.
Yet, what are the challenges that these firms face in producing the product? According to reading 1, it takes about 14 years in order for a firm to successfully produce and sell the drug to the mass market. It is generally estimated that only 1 in 10 000 drug candidates make it through the development process to enter the market. These constitute the high barriers to entry that firms have to face in order to even enter the industry, aside from the high costs of R&D equipment that firms have to pay for. As for firms that are already in the industry, they will have to make sure their barriers to entry remain high, and patent their products to recoup costs and make substantial revenue.
Issues for discussion:
Given that there is much discussion about the benefits and potential that this industry could bring to countries, but the amount of time needed to harvest a certain technology from scratch takes a significant amount of years, is it possible for this industry to be sufficient in coping with demand from users?
Rating:
6.5/10
Firms that invest in Biobusiness have the initial idea of discovering new concepts and ideas from research in a specific industry such as agriculture, and from there, implementing these concepts in other industries such as medicine and healthcare. Thus, there will be a transition from a low value-added industry to a high value-added industry with time where potential products could fetch a higher value. This increases the attractiveness of such an industry because the returns are definitely worthwhile in future. In terms of healthcare and pharmaceutical industry, according to Reading 1, “With the shift in paradigm from disease management to wellness management and disease prevention has come greater interest in alternative and complementary medicines/therapies by consumers not only in the Asia-Pacific region but globally”. Disease management would refer the management of chronic conditions i.e. managing and curing cancer through chemotherapy. Wellness management simply put, would refer to the management of people who are able and well. This includes prevention of sicknesses, diseases and even exercise regimes to keep these people healthy. These new interest in different aspects of healthcare have resulted in a renewed interest in the life science and pharmaceutical field, where there is even more extensive research in to diagnostics, medical devices etc.
Yet, what are the challenges that these firms face in producing the product? According to reading 1, it takes about 14 years in order for a firm to successfully produce and sell the drug to the mass market. It is generally estimated that only 1 in 10 000 drug candidates make it through the development process to enter the market. These constitute the high barriers to entry that firms have to face in order to even enter the industry, aside from the high costs of R&D equipment that firms have to pay for. As for firms that are already in the industry, they will have to make sure their barriers to entry remain high, and patent their products to recoup costs and make substantial revenue.
Issues for discussion:
Given that there is much discussion about the benefits and potential that this industry could bring to countries, but the amount of time needed to harvest a certain technology from scratch takes a significant amount of years, is it possible for this industry to be sufficient in coping with demand from users?
Rating:
6.5/10
Saturday, September 18, 2010
TWC Lesson 5
Overview/ Summary
This lesson provided an overview of ICT and world change. We learnt about the different channels in which ICT is able to reach the masses e.g. Mass Media, Internet, Wireless Technologies and discussed the extent to which ICT might be able to alleviate socio-economic problems in our society. Although ICT might seem like a viable option to solving our daily problems, helping firms get intricately assimilated into the business world, there are many dangers in using ICT because it opens the window for espionage and the invasion of privacy, and users to corrupting influences such as pornography. Nevertheless, we all agree that ICT is an inevitable stepping stone for any country that would like to close their digital divide, and if implemented with the “right” regulation, the benefits of ICT would outweigh its costs.
Interesting Observations
ICT has changed how the media communicates with its audience and even how people may connect with each other. Media today is not one-directional where information flows from media to audience (e.g. TV, radio and newspapers), through ICT, there is a more bi-directional flow of information where people now become part of the news. For instance, forums like twitter and facebook allow for instant spread of information amongst users just through a simple update of status or comment. Platforms like Wikipedia allow users to share information on a topic of their interest which might be newer and more relevant as compared to old-fashioned journals that usually take some time to be published, by which information may not be as accurate anymore. Yet, the question of credibility is being raised. No doubt information comes faster, they are not necessarily accurate. Thus, I believe that because of this, journals and the like are still given value in this fast-paced world because we know that when we pick up a journal, it has been vetted, edited and looked through by many parties before being approved for printing. Hence information should be roughly accurate.
There exist many viewpoints on whether ICT is beneficial or detrimental to world change. I choose the former simply because ICT has honestly made my life much easier and definitely more efficient. (no doubt on bad days, technology really can be a pain in the a**) I believe ICT is the catalyst that facilitates the knowledge revolution but I still think that economic stability and growth is imperative to the development of any country. It is only with economic growth that people will have the finances to implement ICT. And finally, it takes a winning combination of both to make a substantial impact. ICT might not directly contribute to poverty alleviation because there must be the basic foundation of education for people first, before they can efficiently use ICT. If no such training and education is available, ICT will not alleviate poverty or close the digital divide. If ICT were to be implemented as a means to provide modern democracy, it would depend very much on the country in question. I feel that in Singapore today, although there is an increase in the number of forums that openly discuss issues within the country, it is still highly regulated and often viewpoints might not transcend beyond a certain extent.
ICT may not be proficient in all of the aspects mentioned in the slides, but it definitely will impact them to some extent. Yet, ICT might not have reached its peak, and there are definitely areas that need to be regulated. Nevertheless, as Bill Gates puts it,
"The first rule of any technology used in a business is that automation applied to an efficient operation will magnify the efficiency. The second is that automation applied to an inefficient operation will magnify the ineffiiency."
-Bill Gates -
For now, we shall work on improving the automation to be applied to this "efficient operation".
Issues for discussion
We have surfaced that ICT today is not being regulated to reach its optimum level but what do we deem as its optimal level, how do we know that ICT has/ has not reached its peak level? What type of regulations for ICT are we talking about?
Ratings for this lesson
7/10
This lesson provided an overview of ICT and world change. We learnt about the different channels in which ICT is able to reach the masses e.g. Mass Media, Internet, Wireless Technologies and discussed the extent to which ICT might be able to alleviate socio-economic problems in our society. Although ICT might seem like a viable option to solving our daily problems, helping firms get intricately assimilated into the business world, there are many dangers in using ICT because it opens the window for espionage and the invasion of privacy, and users to corrupting influences such as pornography. Nevertheless, we all agree that ICT is an inevitable stepping stone for any country that would like to close their digital divide, and if implemented with the “right” regulation, the benefits of ICT would outweigh its costs.
Interesting Observations
ICT has changed how the media communicates with its audience and even how people may connect with each other. Media today is not one-directional where information flows from media to audience (e.g. TV, radio and newspapers), through ICT, there is a more bi-directional flow of information where people now become part of the news. For instance, forums like twitter and facebook allow for instant spread of information amongst users just through a simple update of status or comment. Platforms like Wikipedia allow users to share information on a topic of their interest which might be newer and more relevant as compared to old-fashioned journals that usually take some time to be published, by which information may not be as accurate anymore. Yet, the question of credibility is being raised. No doubt information comes faster, they are not necessarily accurate. Thus, I believe that because of this, journals and the like are still given value in this fast-paced world because we know that when we pick up a journal, it has been vetted, edited and looked through by many parties before being approved for printing. Hence information should be roughly accurate.
There exist many viewpoints on whether ICT is beneficial or detrimental to world change. I choose the former simply because ICT has honestly made my life much easier and definitely more efficient. (no doubt on bad days, technology really can be a pain in the a**) I believe ICT is the catalyst that facilitates the knowledge revolution but I still think that economic stability and growth is imperative to the development of any country. It is only with economic growth that people will have the finances to implement ICT. And finally, it takes a winning combination of both to make a substantial impact. ICT might not directly contribute to poverty alleviation because there must be the basic foundation of education for people first, before they can efficiently use ICT. If no such training and education is available, ICT will not alleviate poverty or close the digital divide. If ICT were to be implemented as a means to provide modern democracy, it would depend very much on the country in question. I feel that in Singapore today, although there is an increase in the number of forums that openly discuss issues within the country, it is still highly regulated and often viewpoints might not transcend beyond a certain extent.
ICT may not be proficient in all of the aspects mentioned in the slides, but it definitely will impact them to some extent. Yet, ICT might not have reached its peak, and there are definitely areas that need to be regulated. Nevertheless, as Bill Gates puts it,
"The first rule of any technology used in a business is that automation applied to an efficient operation will magnify the efficiency. The second is that automation applied to an inefficient operation will magnify the ineffiiency."
-Bill Gates -
For now, we shall work on improving the automation to be applied to this "efficient operation".
Issues for discussion
We have surfaced that ICT today is not being regulated to reach its optimum level but what do we deem as its optimal level, how do we know that ICT has/ has not reached its peak level? What type of regulations for ICT are we talking about?
Ratings for this lesson
7/10
Saturday, September 11, 2010
TWC Lesson 4
Overview/ Summary
Lesson 4 was about the Drivers of world change and Change management and leadership. We touched on the different drivers of world change such as environment, social, technology and scientific drivers. We also talked about how competition may be a driver for more innovation, changing society in future. In the second part of the lesson, we had a presentation about change management and leadership where we were given 3 essential options for change:
1: Make it happen (proactive approach)
2: React when it happens
3: Wonder what happened
Each option determines the proactiveness of a person in initiating change in their lives as well as that of others. We ended with a discussion on what constitutes a visionary and what constitutes a leader.
Interesting Observations
There are quite a number of drivers of world change today- environment, economy, society, culture. I feel that they are all closely interrelated because of the process of Globalisation and the drive for competition. Globalisation itself is a very important factor for world change because essentially, all developments in a country stem from financial liberalisation which usually means an increase in affluence in society. This would bring about change in the society and culture (tending towards westernisation) and the developments of the city would then affect the environment. There are always two sides to the coin. Globalisation is a double-edged sword. Although it brings about economic benefits to a country like Zambia, it may also lead to a threat to local players. As reading 4 acknowledges, international players have become a serious threat to the local contractors, thus raising the bar for local contractors to move towards international credibility to be considered reputable. Nevertheless, looking from the POV of a rising star, countries should adapt and keep up with such development in order to better themselves and bring about progress in their country. After all, it is not the strongest of species that survive, nor the most intelligent, it is the one most adaptable to change.
“Be the change you want to see in the world”—Mahatma Gandhi
Personally, I am not an advocate of change, I’d much rather things stay simple with little variation if possible. But I know that change is constant in our world and the only option we have (if we were to survive) is to constantly change in our thinking and actions. It is interesting to note that change may not only be created in a group/ organisation, individuals themselves are actually imperative to change. Here, we understand about the role of leaders where their one vision and desire to do something actually changes the world. Take any CEO of a big company, Steve Jobs, Bill Gates, Richard Branson, they all had one vision for the company in mind and they were daring enough to take the risk of doing that particular business in a different way. And as the saying goes, only those who dare to take risks will be able to achieve greatly.
It is definitely not enough for the leaders themselves to engage in their vision. This vision has to be communicated to employees who are ultimately the ones who “make things happen”. According to the reading on Human Change Management : Herding Cats, about 75% of all organizational change programs fail, largely because employees feel left out of the process and end up lacking the motivation, skills and knowledge to adopt new systems and procedures. This brings us to the point about how change management is important is any organisation. Good management will impart new ideas and skills to the employees only through good communication and a strong leadership. Evidenced by the example of Continental Airlines where Greg Brenneman and his team introduced a host of measures to improve company performance (effectively communicating his idea across). A one-size-fits-all solution won’t work because there are individual’s needs and wants. The management has to recognise this. “Human behavior can be pushed and pulled in the right direction with an effective combination of incentives and disincentives.”
Issues for discussion
The key drivers for world change are a major challenge to achieveing sustainable development today as most of the time, initiating change uses up more resources and efforts to move towards sustainable development might in the end be all talk and no action, or our actions might not be significant enough.
Should we just let things be the way they are since our efforts might not really make a difference in the end?
Ratings for this lesson:
7/10
Lesson 4 was about the Drivers of world change and Change management and leadership. We touched on the different drivers of world change such as environment, social, technology and scientific drivers. We also talked about how competition may be a driver for more innovation, changing society in future. In the second part of the lesson, we had a presentation about change management and leadership where we were given 3 essential options for change:
1: Make it happen (proactive approach)
2: React when it happens
3: Wonder what happened
Each option determines the proactiveness of a person in initiating change in their lives as well as that of others. We ended with a discussion on what constitutes a visionary and what constitutes a leader.
Interesting Observations
There are quite a number of drivers of world change today- environment, economy, society, culture. I feel that they are all closely interrelated because of the process of Globalisation and the drive for competition. Globalisation itself is a very important factor for world change because essentially, all developments in a country stem from financial liberalisation which usually means an increase in affluence in society. This would bring about change in the society and culture (tending towards westernisation) and the developments of the city would then affect the environment. There are always two sides to the coin. Globalisation is a double-edged sword. Although it brings about economic benefits to a country like Zambia, it may also lead to a threat to local players. As reading 4 acknowledges, international players have become a serious threat to the local contractors, thus raising the bar for local contractors to move towards international credibility to be considered reputable. Nevertheless, looking from the POV of a rising star, countries should adapt and keep up with such development in order to better themselves and bring about progress in their country. After all, it is not the strongest of species that survive, nor the most intelligent, it is the one most adaptable to change.
“Be the change you want to see in the world”—Mahatma Gandhi
Personally, I am not an advocate of change, I’d much rather things stay simple with little variation if possible. But I know that change is constant in our world and the only option we have (if we were to survive) is to constantly change in our thinking and actions. It is interesting to note that change may not only be created in a group/ organisation, individuals themselves are actually imperative to change. Here, we understand about the role of leaders where their one vision and desire to do something actually changes the world. Take any CEO of a big company, Steve Jobs, Bill Gates, Richard Branson, they all had one vision for the company in mind and they were daring enough to take the risk of doing that particular business in a different way. And as the saying goes, only those who dare to take risks will be able to achieve greatly.
It is definitely not enough for the leaders themselves to engage in their vision. This vision has to be communicated to employees who are ultimately the ones who “make things happen”. According to the reading on Human Change Management : Herding Cats, about 75% of all organizational change programs fail, largely because employees feel left out of the process and end up lacking the motivation, skills and knowledge to adopt new systems and procedures. This brings us to the point about how change management is important is any organisation. Good management will impart new ideas and skills to the employees only through good communication and a strong leadership. Evidenced by the example of Continental Airlines where Greg Brenneman and his team introduced a host of measures to improve company performance (effectively communicating his idea across). A one-size-fits-all solution won’t work because there are individual’s needs and wants. The management has to recognise this. “Human behavior can be pushed and pulled in the right direction with an effective combination of incentives and disincentives.”
Issues for discussion
The key drivers for world change are a major challenge to achieveing sustainable development today as most of the time, initiating change uses up more resources and efforts to move towards sustainable development might in the end be all talk and no action, or our actions might not be significant enough.
Should we just let things be the way they are since our efforts might not really make a difference in the end?
Ratings for this lesson:
7/10
Wednesday, September 1, 2010
TWC Lesson 3
Brief Summary/ Overview of lesson
This being my first TWC lesson in Mr Singh's class, I felt that I had learnt alot pertaining to the areas of how technology has influenced sustainable development and also how we may come up with solutions to overcome these problems that technology has created for us (from the various presentations that students have made). In the second part of the lesson, we learnt about how companies do technology and innovation management and i better understood this with the presentation from leon about "how google grows and grows."
Interesting Observation and Ideas
1. Industrial development today should move from a "linear" to "cyclical" process.
We hear about all the different movements today with the more pertinent idea of recycling and conserving resources. Which would be more effective- recycling or conserving? I think that the former would leave a greater impact on our planet for the simple reason that we do not diminish the resources that are available on our earth, but instead maximise the lifespan of such resources fully. Not to say that conservation isnt important, but looking at the amounts of natural resources that we are using today, isit really possible to conserve and use less? In the short term, I feel that getting countries, corporations to use less would not be a probable idea because having already expanded their production to such a level, it might not be possible to reduce usage of resources. Nevertheless, with more education and emphasis by various unions and movements on this aspect, in the long run there might be possible reduction. A cyclical process would allow these organisations to continue at their production rate, but not totally diminish resources in a sense because they will be able to reuse some of the waste produced. Ultimately, there will need to be a combination of both methods in order to achieve sustainable development in the future but for now, recycling should be key.
With respect to some of our classmates presentations, I enjoyed learning about the new technologies that have been invented to conserve and maximise our resources. For example, aquaponics and hydroponics. Both seem to be good ideas for urban landscapes because of the little land they take up and possibly, more output per crop. Yet, the question lies in its feasibility. In Singapore for example, I don't see a need to grow such crops because of the high fixed and variable costs involved, the market size and the demand for such products. Organic products are present, but not that popular in Singapore, similarly, given the higher costs of such products, will the average Singaporean be bothered to buy them in the face of cheaper, tastier crops from China? I doubt so. But given time, and these crops are made cheaper, switching may be an easier option for Singaporeans.
2. Innovation Management and Key elements to successful Innovation
Innovation Management by definition would be creating value by increasing the efficiency of translating promising concepts into high value products and services. Opportunities are always present, but when you decide to take one up, will fall in one of the three-Valley, Summit or Cloud opportunities. And this is important in deciding how high the barriers to entry of a market should be. Successful innovation only happens when there is a "right"combination of factors from the people who work in your firm to make-it-happen, to the ones who fund the project. Firms may choose different ways to make sure that innovation keeps happening. Some choose to motivate their own workers because happy workers will put in more effort into their work, and churn out more special innovations, for example Google. Others might look at more external ways to make sure their project works.
Key Takeaways:
People in my generation may be the ones that might actually spearhead the R&D in technology towards more sustainable development for the future. There are lots of opportunities present, but it would probably be our loss of we don't see them, or choose to do nothing for sustainable development.
Issues for further discussion:
Currently, there are many efforts to move towards sustainable development. But the laymen would not notice or know unless they make an effort to find out through their own research. Are our efforts today enough to make these messages known throughout community? What else can be done? Are there more drastic measures that can be taken?
Ratings:
7.5/10
This being my first TWC lesson in Mr Singh's class, I felt that I had learnt alot pertaining to the areas of how technology has influenced sustainable development and also how we may come up with solutions to overcome these problems that technology has created for us (from the various presentations that students have made). In the second part of the lesson, we learnt about how companies do technology and innovation management and i better understood this with the presentation from leon about "how google grows and grows."
Interesting Observation and Ideas
1. Industrial development today should move from a "linear" to "cyclical" process.
We hear about all the different movements today with the more pertinent idea of recycling and conserving resources. Which would be more effective- recycling or conserving? I think that the former would leave a greater impact on our planet for the simple reason that we do not diminish the resources that are available on our earth, but instead maximise the lifespan of such resources fully. Not to say that conservation isnt important, but looking at the amounts of natural resources that we are using today, isit really possible to conserve and use less? In the short term, I feel that getting countries, corporations to use less would not be a probable idea because having already expanded their production to such a level, it might not be possible to reduce usage of resources. Nevertheless, with more education and emphasis by various unions and movements on this aspect, in the long run there might be possible reduction. A cyclical process would allow these organisations to continue at their production rate, but not totally diminish resources in a sense because they will be able to reuse some of the waste produced. Ultimately, there will need to be a combination of both methods in order to achieve sustainable development in the future but for now, recycling should be key.
With respect to some of our classmates presentations, I enjoyed learning about the new technologies that have been invented to conserve and maximise our resources. For example, aquaponics and hydroponics. Both seem to be good ideas for urban landscapes because of the little land they take up and possibly, more output per crop. Yet, the question lies in its feasibility. In Singapore for example, I don't see a need to grow such crops because of the high fixed and variable costs involved, the market size and the demand for such products. Organic products are present, but not that popular in Singapore, similarly, given the higher costs of such products, will the average Singaporean be bothered to buy them in the face of cheaper, tastier crops from China? I doubt so. But given time, and these crops are made cheaper, switching may be an easier option for Singaporeans.
2. Innovation Management and Key elements to successful Innovation
Innovation Management by definition would be creating value by increasing the efficiency of translating promising concepts into high value products and services. Opportunities are always present, but when you decide to take one up, will fall in one of the three-Valley, Summit or Cloud opportunities. And this is important in deciding how high the barriers to entry of a market should be. Successful innovation only happens when there is a "right"combination of factors from the people who work in your firm to make-it-happen, to the ones who fund the project. Firms may choose different ways to make sure that innovation keeps happening. Some choose to motivate their own workers because happy workers will put in more effort into their work, and churn out more special innovations, for example Google. Others might look at more external ways to make sure their project works.
Key Takeaways:
People in my generation may be the ones that might actually spearhead the R&D in technology towards more sustainable development for the future. There are lots of opportunities present, but it would probably be our loss of we don't see them, or choose to do nothing for sustainable development.
Issues for further discussion:
Currently, there are many efforts to move towards sustainable development. But the laymen would not notice or know unless they make an effort to find out through their own research. Are our efforts today enough to make these messages known throughout community? What else can be done? Are there more drastic measures that can be taken?
Ratings:
7.5/10
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