Lesson 3

We started off by watching a How stuff works video. One point that captured my attention is that though USA made up 5% of  the world’s population, they consume 30% of the world’s resources. That is way too disproportionate! If the rest of the world were to consume at the USA’s rate, we would need 3-5 planets of resources. This is currently out of the question!

So the next viable and logical option would be to shift from the current ‘linear’ model to the ‘cyclical’ approach. This new cyclical business and industrial model presents an opportunity for growth and innovation and at the same time promote sustainability. However that is easier said than done!

First of all, human beings are inherently self interested in nature. Why bother about the Earth when I am making lots of money? Furthermore with corporation red tapes, process rigidities, companies are more likely to maintain status quo as opposed to making changes in their business model than could well damage profit making opportunities. There is indeed a major challenge in trying to go green and maintain or improve profit margins simultaneously.

I feel that the government has to come into play here. With the foresight of the brightest minds in the world, they would hopefully put into place certain legislations, policies at the national level, taxes, subsidies and incentives. It’s a matter of achieving the right balance. Education, bombardment of messages to drive the point through and through may be the solution.

3B: Tech & Innovation Management

What’s innovation? Is it the coming up of new concepts or ideas? That might seem like the case. However that is only Phase 1. Ideas are only the beginning. Translating it into practical application is innovation. Coming up with the idea is an inventive process. Making it so that someone is willing to part with their hard earned money for it is innovative. The real contribution is when it makes a real difference in people’s life. As prof mentioned, one should focus on ‘summit’ opportunities as there is where the growth and potential is.

There was an interesting presentation on apple technology. And a rather intriguing question on how far should technology be commoditized? In my opinion, commoditizing would be good news for consumers. Cheap apple products! Yay!