Part 1: Technology and Industrial Development: Toward Sustainability
It's week 3! The past 2 weeks had gone by in a flash! Once again, it was time for TWC lesson. When I walked into class, again immediately I saw a phrase on the whiteboard that said: "Sustainability requires a shift from linear to circular thinking. Old Industrial Model: Economic Development VS Environment Well being. New Industrial Model: Economic Development AND Environment Well Being."
Prof then started off the lesson by explaining to us that sustainability is about substituting the linear approach of industrial development to the circular approach. Indeed, we cannot carry on with the way we used to do things. In the past, all industries were just concerned about maximizing profit at any cost. They had no qualms about destroying natural habitats, using up natural resources, and polluting the environment so long as they reap profits. However, in present times, due to social pressures and government intervention, industries are now made to do things in a circular manner. In such an approach, industries are made to consider the environment and negative externalities caused during their production process. This brings corporate social responsibility into the picture.
If we were to analyze the situation properly, it is a MUST that we change the mindsets of industry players! If the rate of pollution and environment degradation continues, no matter how rich the country may be, we will all be living in dumps!
Therefore, the IPP toolbox in reading 2 tells us how the different groups of society (govt, firms, and individuals) an play a role in helping move towards sustainable development.
I then presented my topic of whether development and sustainability is a trade off. There were alot of interesting and insightful responses from the class. Personally, I think that development and sustainability is to a slight extent a trade off. Although there are many new technologies in the present day which helps to counter pollution and correct pollution, they are very expensive, can only correct up to a certain extent, and not eliminate the problem totally. And although companies now are made to go green, it is still inevitable for industries to cause pollution in the process of manufacturing. Hence, though industries at present do not pollute the environment as severely as in the past, they still pollute the environment. Therefore, we can still say that development and sustainability is still a trade off, probably just not as severe in the past.
Aline then presented about ecological footprints and how effective would calculating our ecological footprints be in moving towards sustainability. Indeed, if everyone were to play a part (both individual and firms) in being mindful and conscientious about our ecological footprints, there will be less harm done to the environment even as we progress and continue with our developments. Afterall, it is only be calculating our own ecological footprints that we know how much harm we are doing to the environment and in which particular areas we should take note to reduce our ecological footprint.
Part 2: Technology and innovation management
Prof made a bold statement by saying: "The only way to stay on top is to keep innovation going and creating new products." He then showed us a diagram he drew of valleys, summits, and clouds, which represented opportunities. Prof then went on to explain how people can go from being within the clouds to being at the summit, and from being at the valley to being at the summit. To move from the valley to the summit, there must be a differentiation in a common product, and there must be a premium position to stand in the industry. This reminded me of the very popular iPhones. It is a subgroup of mobile phones, but Apple has made it different from the rest of the mobile phones and added so much value to it that it gave Apple a premium position in the mobile phone industry.
Come to think of it, it is really scary. Even though one may come up with the initial spark or bright idea of a new innovation, there will surely be firms who will take the idea, and then try all ways to come up with a better, different product. Hence, in order to stay at the top, innovation must indeed be continuous. Somehow i see it apply to everyday life too! In order to stay at the top, we must continue to improve ourselves consistently. For example, one may be very good at accountancy now, but if he does not continue to read up and be up to date with the new laws and guidelines of accounting standards, he will be outdated and people will outshine and overtake him in the very near future.
The world is progressing and developing at a very rapid rate, and in order to be successful, we must always stay at the top. Hence, we must continue to keep up with times, continue with our development and innovations and stay well ahead of competition.
We then had individual presentations again. Again, I will expand only on one, which was presented by Spencer. He talked about how important innovation management is and to what extent we should allow the freedom of innovation in a company such as 3M. Personally, I think that although innovation should be allowed, there must be a balance whereby not everyone is just busy trying to innovate things and ideas and no one is down to doing the actual work. Work should be done first, and then followed by innovation, so the situation whereby all talk and no action takes place. Also, there should be "milestone" reports or audits done regularly on the innovators/engineers in the company. Surely there ought to be ideas consistently and not just idle away, lest they become inefficient in the process.
Another interesting concept brought about by another classmate was that very often, it is due to the high price tag of failure which causes people to become uncreative and have a phobia to innovate or express their ideas. I find that a real enlightenment. People in society do not dare to step out from being the norm due to the phobia of failing. In Singapore, failing in areas do carry a very high price. For example, people may be fired, or even ostracized due to their failures. This causes us not to venture out and express our ideas boldly. Hence, it is important that we lower the price of failure in order to bring out more innovators within the society. By lowering the price of failure, what I mean is to encourage people to continue trying out new things and expressing their ideas even after failure, and also instead of criticizing and punishing them due to their failures, to give them pointers on how they can do better next time and at the same time improve their ideas.
Overall, I rate this lesson a 9/10 as I learnt alot of new concepts and I had a fun time presenting my point of views to the class too!
See you guys next week! (:
-Thong Yong Sen (Matthew)-
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