Area Details Grade
Group names and contact details Production Innovation Management
Group ID : Group 1
Class Section : LP03 Topic choice and rationale why chosen How will the need for increased environmental sustainability shape product innovation design decision?
Recent years, government have been focusing on the importance of innovative ideas towards a greener future as there is an increase attention towards environmental consciousness among social groups working towards sustainability of the environment. Funding and incentive scheme has been setup by the government authorities to help various companies to work towards a clean and green city that could help with future economic growth in Singapore. A total of 35 government funding
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Introduction
2. The importance of Environmental Sustainability
2.1. Why there is a need for environmental sustainability?
2.2. How does environmental sustainability contribute to the society?
3. Product innovation management for small and medium enterprises
3.1. Differences between Globally and Asia Pacific region product innovation
3.2. What are the benefits for product innovation
4. The implementation for environmental sustainability in product innovation
4.1. Opportunities and risks for SMEs to develop innovation in product for environmental sustainability.
4.2. Cost and effort for SMEs to implement environmental sustainability products
4.3. Government roles in aiding innovative products for environmental sustainability
4.4. Consumers behavior towards environmental sustainability products
5. SMEs managerial implications and actions for the selected industry
6. Conclusion
Exhibits
References 10%
Word count___120_
Data and statistics that will likely be collected and what exhibits or tables will be produced from this data Data and Statistics
1. The percentage of the SME Company in Singapore has been practicing environmental sustainability till
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15%
Word count___155_
5 critical references and sources of information 1. A Perspective on environmental sustainability? http://www.green-innovations.asn.au/A-Perspective-on-Environmental-Sustainability.pdf Philip Sutton
Director-Strategy of Green Innovations
- The capability to retain things and qualities that are of valued to the physical environment.
2. Environmental Sustainability: A Definition for Environmental Professionals
Morelli, John (2011) "Environmental Sustainability: A Definition for Environmental Professionals," Journal of Environmental
Sustainability: Vol. 1: Iss. 1, Article 2.
John Morelli
Rochester Institute of Technology
- Societal needs of designing and delivering products and services that can better serve a more sustainable environment.
3. Global small and medium-sized enterprises: challenges and opportunities
Article: 01 Nov 2007
Euromonitor International
- Incorporation of SMEs and International companies to better define, penetrate and gain access to both local and international
achieving the goal of sustainability. 12th ed. of the 12th e ). Upper Saddle River, NJ: Pearson Prentice Hall.
A firm that desires to enter into International business has many different options. These range from importing and exporting to contract manufacturing abroad, licensing and franchising, joint ventures and setting up wholly owned subsidiaries. To establish business internationally firms have to complete many formalities. International business share their technology which will improve the mode and quality of their production.
In today’s market, there is I a drive for people to be a more conscientious consumer, this means that they think about their personal health and the effect of global health before they buy. (Solomon.2017) Due to the fact, that people are thinking more about the environment and effects products have on the world, marketers have found themselves taking a different approach to reach their target audience. A new way of marketing is called Green Marketing, this type of marketing involves the development and implementation of environmentally friendly products. (Solomon.2017) This method is especially stressed to the customer that is buying the product. For example, in the KIA Niro, Melisa McCarthy is showing traveling around the world to do her best to save
Market entry of a product is an extremely important concept to consider. There are multiple forms of market entry and deciding which form would work best for the situation could either benefit or harm the company. Exporting and importing is one form of market entry. This can be done either directly or indirectly. The less directly the firm company deals with foreign companies, the less likely they will build their knowledge and experience of how to do foreign business. This can limit further expansion. Firms that handle products directly are more likely to glean more information and receive competitive advantages. This in turn, allows for more rapid expansion, better control, and strengthening foreign trading partners’ relationships furthering international growth and success. Disadvantages would be identifying and targeting foreign suppliers and/or customers and finding marketing channels. International intermediaries are one form of exporting and importing in market entry. Intermediaries have both direct and indirect importers and exporters. They can help with difficult yet important details like documentation, financing, and transportation. They also help to identify foreign suppliers and customers to aid the firm with long-term and short-term market penetration efforts. Intermediaries, along with export facilitators can bring the global market to the domestic firm’s doorstep by assisting to overcome financial and time constraints. Export Management Companies (EMCs) is another form of exporting and importing within market entry. They are firms who represent others for a commission or who work as distributors that perform specific international business services. They usually focus on one geographic area where their expertise allows them to offer specialized services. EMCs have two primary forms of operation: They perform services as agents or they
Investing or venturing into the international market involves critical analysis of the internal and external environment in which the company operates. Usually, a company will decide to venture internationally due to a saturated market or fierce competition in the current country of operation. The demand for a company’s products may have diminished as a result of an economic crisis thus the company will target a foreign market to sustain its sales. In other words, the firms expand internationally to seek new customers for its products. For example, the current Euro zone crisis led to low demand in Europe and many companies extended their businesses to emerging markets where demand was high. A company may also venture in the international market to enhance the cost-effectiveness of its operations especially for manufacturing companies that will benefit from low costs of production in developing world. Global expansion is a long term project as it involves demanding logistics to be successful. Thorough research must be undertaken to ensure that the expansion will create value for share...
Throughout IKEA’s CSR report a strong value that is touched upon many times is sustainability. Sustainability focuses on
Adaptation and mitigation are two terms that may have very different meanings but in regards to climate change, are inherently interwoven. Mitigation refers to reducing the extent of climate change, and slow the process. A simple strategy of climate change mitigation, is to plant trees to absorb CO2 from the air. Adaptation involves efforts to limit human’s vulnerability to climate change impacts through various measures. Humans can adapt through building modifications and technology.
Going green is an “It” topic now throughout the world. Singapore Prime Minister Mr. Lee Hsien Loong has mentioned about building a sustainable nation more than once in his public speeches. In his recent speech at the launch of Clean & Green Singapore 2015 on 8 November, he said that Singapore should continue its Clean and Green culture in order to cope with future challenges (Lee, 2015). The publishing of Sustainable Singapore Blueprint 2015 also pointed out that Singapore has made good progress in its sustainability journey and will continue to achieve its 2020 target as well as its 2030 target (2014). This going green mission includes all aspects in our lives such as transportation, housing, living. Some key points are water saving, energy saving and waste management.
Without doubt the XXI century has changed our priorities, especially when it comes to the way we do business. Popular sustainable business models, as advertised in the media, have evolved into much more than a moral obligation or an external requirement to generate money. Essentially, are forcing companies to reinvent the systems and approaches with which they generate value and profitability to the company.
The idea of water is often overlooked as being something that we need to try ad sustain. We have the whole ocean and there seems to constantly be a storm dumping rain over the country at all times. But do we really have enough water to support all our needs including the irrigation for our crops and the water that we need to consume to stay healthy? Do the rivers and streams hold a quality of clean and healthy water? The project that I am about to discuss was set into play in order to try and tackle these questions as well as many other concerns such as flood protection, wildlife and recreation uses, and actively getting the people aware and supportive of change. This project is known as modernizing water management and building a national sustainable rivers program. The nature conservancy teams up with the Army Corps of Engineers in trying to find sustainable solutions to river health. Throughout the 20th century the United States built thousands of Dams and several other types of water projects to try and meet the growing need that was present from water, food, flood protection, hydropower and navigation. Of all the dams that were built some 40-80 years ago there is very few of them that have been fully reviewed to see if they meet the current needs. They have not been inspected to prepare for future circumstances or to observe any new updates that they may be in need of. With the idea of this sustainable project we can now attempt to modernize the operations and to improve the social, economic and environmental benefits that they can provide for us now as well as for the future generations that are still to come. The idea is to improve our current dams and try to build a better system to manage the waterways through our countr...
All research fully carried out on Entry nodes on the long run remain limited to large manufacturing firms. The foreign market selection and the choice of its entry modes drastically ascertain the performance of a specific firm. Entry mode can be defined as an arrangement for an organization that is organizing and conducting business in foreign countries like contractual transfers, joint ventures, and wholly owned operations (Anderson, 1997). Internationalization is part of a strategy which is going on for businesses and organizations transfers their operations across the national borders (Melin, 1992). The firm that is planning to have the operations across the border will have to choose the country that they are planning to visit. Anderson (1997) argues that the strategic market entry decisions forms a very important part of an organizational strategy. The decision to go international is part of the internationalization strategy of the firm. Multinational Corporations that desire to have international operations will find the strategy to go international, the mode of entry is very important. Even though there are studies which have shown that the main effect of being pioneers in a market promises superior performance in terms of market share and profitability than the late movers, Luo (1997) and other researchers have found out that the effect of the first mover may be conditional and will depend on the mode of strategy that is used (Isobe, & Montgomery, 2000). There are different strategies that MNCs can use to enter new foreign markets; they include exporting, licensing/franchising, full ownership and joint ventures. The mode of exporting entails a company selling its physical products which are usually manufactured outside the...
Sustainable development refers to not only meet the needs of contemporary people, but also not compromising the ability of future generations to meet development needs.Sustainable development and environmental protection have established contact, not the same. Environmental protection is an important aspect of sustainable development. The core of sustainable development is development, but requires strict control of the population, improve population quality and protect the environment for the conduct of economic and social development under the premise of sustainable use of resources.
Environmental sustainability is making decisions and taking actions in the interest of protecting the natural world, preserving the capability of the environment to support human life and ensuring that humans use the environment in a way that does not harm the environment. It also questions how economic development affects our environment vice versa.
Environmental analysis is a strategic tool. It is a process to identify all the external and internal elements, which can affect the organization’s performance. The analysis entails assessing the level of threat or opportunity the factors might present. These evaluations are later translated into the decision-making process. The analysis helps align strategies with the firm’s environment. The importance of Environmental Analysis lies in its usefulness for evaluating the present strategy, setting strategic objectives and formulating strategies.
Climate change is one of the most common problems faced by the world, climate change happens when the greenhouse gases level increases. The reason of climate change can be divided into two which are natural causes and human activity. Some Natural causes consists of volcanic eruptions, changes in the sun, and asteroids. However, examples of human activities are: smoking, burning fossil fuels to get electricity, and driving vehicles. People can reduce climate change by using public transport, reducing smoking, and replace normal lights with compact fluorescent bulbs. All of these changes also have impact on economy and business. This essay will examine potential economic effects of climate change on 4 industries namely : health, commercial fishing, tourism, and agriculture. It will also discuss ways in which economy might adapt to these problems. Health care sector adapt by offering more medicine and doctors, commercial fishing can adapt by making fish storage and using sustainable industry,agricultural industry adapts to the problem by putting the animals in thermal zone, however in tourism industry