National Seminar On Green Environment Theme: Discussion

Brief description of the innovation

Discuss About The National Seminar On Green Environment Theme?

In the past two decades technological innovations has touched heights allowing common people to achieve milestones in life. Sustainability, on the other hand, is a concept that is globally accepted as one of the major point of focus as more and more people recognize the importance of their duties and responsibilities towards the environment as well as the society at large. The deterioration of the environment has significant impact on the lives of each individual hence it is important to combine technology with sustainability to ensure a better and healthy future for the coming generations (Volberda et al. 2013). This report comprises of an analysis of a sustainable innovation in terms of its feasibility, practicality and ergonomic usage by end consumers. This report also elicits a conclusion form an investor’s perspective. 

The idea of the business is to manage and eliminate e-waste in Delhi, with the help of advanced technology and implementing the idea of recycling and reusing of items which are possible and disposing of items which are not possible to recycle or reuse. In the process of disposal, the firm wants to implement procedures which will ensure minimum carbon exposure to the environment.

The first and foremost aspect of an innovation is feasibility, which means how far it is possible to carry out or is it just a theoretical concept. Any innovation requires financial support and initial investment in order to start the process of getting the project together. The idea that is being discussed is management of e-waste which is one of the main reasons for air water as well as land pollution in many parts of the world, Delhi to be more specific in this case (Sthiannopkao and Wong 2013).

Market feasibility: this is high as there are a number of business units who do not know what to do with their e-wastes and end up dumping. With changing view among the business environment of India more and more entrepreneurs are recognizing their duties towards the environment and the society; hence this idea has a good market opportunity (Volberda et al. 2013).

Economic feasibility: implementation of new technology has an initial large investment, which is a weakness for the project but the project is also very prosperous in nature as discussed in the previous point. And the growth potential of the project in Indian Market is also good therefore it is economically also feasible (Volberda et al. 2013).

Feasibility of innovation

Hence it can be said the business proposal is feasible and has potential to grow in the future as well as disposal of e-waste has been challenging for many organisation.

The project and practicality of the business is not only theoretically possible but also has practical prospect as the firm has resources to incorporate the technologies and there are prospects in the plan.

India has ranked 5th in the production of E-Waste in the world. On the other hand,  Delhi has been declared as the most polluted cities in India, therefore it is an opportunity for the firm on the other hand there are a number of established players in the market like e-waste recyclers, Hindustan e-waste management etc pose a serious threat to the idea (Uniindia.com 2017). The government of India is also taking steps and encouraging organisations to manage the e-wastes in a sustainable manner. Since, the proposal states that the focus in not only on disposal but also on recycle and reuse of materials the prospects of the business increases as just 1.5 per cent of India's E-Waste is recycled. Therefore, it can be said that there is a potential market but there are also equal amount of threat (Uniindia.com 2017).

There are two kinds of customers in the product and services that are being elicited in the presentation, the direct customers are people who will buy the recycled products from the organisation, and the indirect customers are the organisation that will avail the services of e-waste management.  The products and services that are offered are said to be priced according to the Per capita income of the region. As the products will be secondhand it will be profitable of the consumers therefore it is within the purchasing power limit (Sthiannopkao and Wong 2013).

Distribution strategy: in the presentation the distribution strategy is mentioned in a very arbitrary manner without specifying the steps the process of operation is going to follow, the technology etc are not mentioned in the strategy.

Cost and finance: The monetary explanation of the project has been offered in a good way therefore as an investor it is helpful to understand the risk as well as prospects associated with the project, because the procedure or the distribution strategy is still unknown as an investor that is a major drawback.

Rate of return: with the finance and cost of the project the rate of return is also explained. As an investor the prospects of the project seem to be on the positive side (Sthiannopkao and Wong 2013).

Practicality of the concept

Exit plan: The proposal has a satisfactory exit plan and as an investor, it is rational as well. The idea of merger and allowing franchise is practical as well as feasible as there are several Indian third parties help that is required in setting up the organisation as well. The proposal also states the prospective merger companies which as an investor is helpful (Bernardo 2014).

The product and services that are mentioned in the proposal are sustainable in nature as management of e-waste is one of the major pollution as well as societal issue globally. With the growth and advancement of technologies that manufacturing units are more and more looking for options that are sustainable in nature and are also assuring of the fact that their business operation have (Palett et al. 2013). The project is back with the idea of triple bottom line and as an investor it is important to take responsibility and invest in areas which not only is sustainable itself but is also helping other organisations to achieve the objective of triple bottom line (Cashman et al. 2014).

The team comprises of four individuals who have diversified knowledge base and specialization which will help the project get insightful inputs in the operations of the business. There are experts from both engineering as well as management background who will serve as the main resource of the business. Innovation in terms o technology will be handled by the technical experts whereas the business development and expansion of the business and implementing the management process of the business will be looked after by the management experts. Hence the team has capabilities in carry forward the project (Bernardo 2014).

Conclusion

It can be concluded form the above assessment of the idea can that the presentation is 4.5 out of ten, there are a lot of prospect in the idea but the ideas are supported by evidence in the presentation. As an investor it is important to see proof of the project. The reason why is Delhi chosen out of all the cities around the world is also unclear in the presentation. There is a lot of vague and incomplete information in the presentation based on which investors cannot incorporate so much money. The idea of the project seems lucrative but there are several intricate details of the project that are missing in the presentation. Thought the return, break even and the profits are discussed in a proper info-graphic way but these information lack support from practical factors. Therefore it can be said that the Investor is interested but needs more information. On the other hand, the amount of $ 1,800,000 AUD, is quoted which is too high for a single investor, therefore with more information and evidence only a part of the investment can be arranged.

The aspects associated with innovation like feasibility, practicality and analysis of the market are viewed from an in-depth point of view. These aspects of innovation will help in the future while investing in an idea. The concept of sustainability in business is also learned which has helped in recognised the duties and responsibilities each individual have towards building a sustainable future.

Reference List:

Bernardo, M., 2014. Integration of management systems as an innovation: a proposal for a new model. Journal of Cleaner Production, 82, pp.132-142.

Cashman, G.D., Nardari, F., Deli, D.N. and Villupuram, S.V., 2014. Investor behavior in the mutual fund industry: evidence from gross flows. Journal of Economics and Finance, 38(4), pp.541-567.

Palett, A.D., Aiswarya, S. and Jacob, P., 2013, December. E-WASTE MANAGEMENT. In National Seminar on Green Environment Theme: Waste Management December 17th-18th, 2013 (p. 74).

Sthiannopkao, S. and Wong, M.H., 2013. Handling e-waste in developed and developing countries: Initiatives, practices, and consequences. Science of the Total Environment, 463, pp.1147-1153.

Uniindia.com., 2017. Workshop on 'E-Waste Management- Challenges, Prospects & Strategies' organised. [online] uniindia.com. Available at: 1. https://www.uniindia.com/workshop-on-e-waste-management-challenges-prospects-strategies-organised/other/news/820030.html [Accessed 28 Jan. 2018].

Volberda, H.W., Van Den Bosch, F.A. and Heij, C.V., 2013. Management innovation: Management as fertile ground for innovation. European Management Review, 10(1), pp.1-15.