Session 3

This week the two themes that we discussed in class were- Technology and industrial development and technology and innovation management. Basically we learnt about both the positive and negative consequences of industrialisation. Though industrial development has played an important role in economic development of countries, it has also played an important role in global environmental degradation. Hence, today’s challenge is to promote the positive effects of industrialisation while minimising its negative side effects. It was recognised that sustainable industrial development is the need can be strongly helpful in eradication of poverty.

Furthermore, I learnt how industrialisation has served as an engine for growth in LEDCs. An aspect which I find is quite interesting about the manufacturing industry (secondary sector) is how it links the primary sector to tertiary sector. I think the ‘linkage and spill over effects’ of industrialisation is an interesting area for exploration. The advantages of promoting manufacturing industry in an economy exemplified the interesting concept of ‘advantages of backwardness’ and how it stimulates economic growth and development in a country.

Also we saw how governments and businesses may work together in area of innovation such as investment in research and development. We also discussed how the need to change has become vital. For instance, economic growth with environmental well being may be achieved by ‘cyclical’ business and industrial models.

The challenge of achieving sustainable growth was again exemplified by a presentation of industrial plants causing environmental degradation. The presentation was interesting as it explained that many industrial plants located close to water bodies are a threat to marine life/ecosystems. In order to cut down on costs and maximize profits businesses are using non eco-friendly production systems. At the end of presentation, we had a productive discussion about challenges that businesses are facing regarding profit making and their social responsibility.

In the second half of this week’s session, we explored the area of technology and innovation management. I enjoyed one of the readings by UNDP Human devilment report. The report includes a visually interactive map about present and potential leaders in technology innovation. It mentions the Technology Achievement Index (TAI), an index that measures nation’s ability to participate in networking age.

 I think this is a very unique way to measure nation’s development and is highly relevant to us in these changing times, when access to technology is imperative for growth and development.

Here is the link to the mentioned report: http://hdr.undp.org/en/media/completenew1.pdf

I was also intrigued by the video titled ‘the Story of Stuff’ by Annie Leonard. This is a very interesting video as it reflects upon our materialistic society. It highlights the amount of consumption and waste that is resulting due to ‘linear’ production systems.

Some interesting concepts that the video highlights are- ‘Planned obsolescence’ and ‘Perceived obsolescence’. It shows how planned and perceived obsolescence is practiced to contribute to more and more wastage of resources.

'Planned obsolescence is a business strategy in which the obsolescence (the process of becoming obsolete) of a product is being planned and built into it from its conception.' source: The Economist-Planned Obsolescence.  

http://www.economist.com/node/13354332

Perceived obsolescence convinces us to throw away useful goods as the businesses would change the physical appeal of products.

In this session we also looked at different types of innovation i.e. Market driven and Technology driven innovation. It was realised that 3 different types of innovation opportunities may be observed in every industry. This includes, valley opportunity, summit opportunity and cloud opportunity.

At the end another presentation was done on electronic cigarettes and change management. During the presentation the various challenges that a business may face during production cycle were recognised. Moreover, a productive and interesting discussion took place on the issue of legalising electronic cigarettes in Singapore.

 I enjoyed being a part of this session and would rate it 9/10.