Session 3
SESSION 3: REVIEW
Topics covered:
- Technology and Industrial Development: Toward Sustainability
- Technology and Innovation Management
Brief Overview/ Summary
- Technology and Industrial Development: Towards Sustainability
In class, we discussed Industrial Development and how it may progress towards greater sustainability. We identified the need for industrial processes to shift from a linear process to a cyclical one, where resources used during the process may be reused for the process multiple times, hence the “cyclical” process. A linear process is one that is input focused, that is, only focused on the raw products needed for manufacturing. A cyclical process is one that not only focuses on input, but on the output as well. A cyclical process will also take into account any harmful by-products that may result from the manufacturing process.
The class went on to discuss Sustainable Industrial Development and finally agreed on the definition as set by United Nations Industrial Development Organization (UNIDO) – Maximizing value creation without reducing options for future generations.
This week’s quote was:
Old industrial Model: Economic Development vs. environmental well-being
Sustainable industrial model: Economic Development AND environmental well-being
- Technology and Innovation Management
Innovation Management is:
- Creating Value by Increasing the Efficiency of Translating Promising Concepts into High Value Products and Services
- The R-D-A Translation Process
- The Innovation Creation Pipeline:
- Concept
- Technology Validation
- “Productization”
- Business Model Validation
- Market Entry and Growth
Interesting Observations and Ideas/Key Takeaways
- Technology and Industrial Development: Towards Sustainability
- We are living on a planet with finite resources depleting at an increasing rate. It is imperative that more effort be made to develop technologies to shift our natural gas dependency to other renewable resources.
- The problem with Green-tech is what’s known in economics as “The Free-rider problem” It’s an “every man for himself” situation right now when it comes to industrial processes. As the name suggests, the free-rider problem is when the producers in an economy do not take into account the various negative externalities resulting from their production process, instead, leaving it to the Government to deal with the negative externalities present. Green-house gas and carbon emission are some examples of the negative externalities that not all producers are concerned about.
- An important question: Should the more capable countries share technologies and aid other developing countries in producing and implementing Green-tech? Currently, Green-tech is very cost ineffective. Until newer, more economically viable technology is developed, the implementation of Green-tech is largely inaccessible to many developing countries. Seeing as developing countries usually have higher levels of pollution and carbon emissions (especially the USA) should they not have a moral obligation to provide aid to the less capable countries so that the issue of environmental well-being is addressed?
- Technology and Innovation Management
- The primary goal of innovation management is to enable an organization or entity to adapt and respond to an opportunity, and direct its creative efforts to introduce new ideas, processes or products. What sets innovation management apart is the fact that it is not relegated to the R&D department. Innovation management involves people at every level that ultimately contribute creative solutions towards the organization’s growth and other operational activities.
- This quote by Thomas Peters pretty much sums up the need for innovation and innovation management:
Life is pretty simple: You do some stuff. Most fails. Some
works.
You do more of what works.
If it works big, others quickly copy it. Then you do something
else.
The trick is the doing something else.
Thomas Peters
- Basically, Development is the translation process of Research into Application. See the diagram below. It explains the various steps of the process clearly and comprehensibly.
Personal Ratings
(3/10) In my opinion, this week's session was a bit dry. It seemed that there were not many significant contributions towards the discussions. A lot was said about very little. I sincerely hope that next week's discussion will be much more interesting!