Category: Innovation

Introduction

Questions are rising as to whether the future technology will transform the human life or it will simply put the future of the humanity in jeopardy (Kurzweil 18). Technology has transformed from the house-size computers of the first generation to the sophisticated technologies that have made almost every part of human duties effortless.

Innovation has brought about the robotic and the clone technologies that are about to replace the humans. Although these transformations will form part of the human life, as various activities will rely on these upcoming technologies, ethical, moral, and legal debates are questioning whether these technologies will be efficient or will simply bring future threats to the humanity (Kurzweil 25).

This essay investigates the notion as to whether the robotic and clone future technologies will be the appropriate innovations that will perform with super intelligence or will just be disruptive technologies to the human survival.

Merits and Demerits of the Forthcoming Technology

Communication

All that the human beings have been anticipating about the forthcoming technology is the enhancement of communication to enable people to communicate regardless of the geographical barriers. One of the anticipated future technologies is the human microchip technology in which a human brain and body system will undergo a biotechnological transformation (Ip, Michael, and Michael 3).

This DNA chip technology will boost the human intelligence, but will interfere with the normal functioning of the human brain. Instead of using the master cards and card transactions, which have recently proven to be insecure and prone to fraud, the microchips will use a human body as a safe communication channel (Kurzweil 18).

This form of DNA chip communication directly powered to carry out electronic and wireless communication is safer, cheaper, and convenient for the businesspersons and clients compared to the card transactions.

Nonetheless, no one, even the scientists are capable of knowing the real repercussions of this future body communication. The DNA microchip technology will be among the most controversial and disruptive technologies of the coming eras (Kurzweil 19). The human safety, individual privacy, corporate privacy, and personal legal rights will remain compromised.

The Radio Frequency Identification (RFID), the Positive ID (PSID), and the Electronic Product Code (EPC) are capable of revealing the previous and current geographical locations of individuals as well as their purchasing behaviors (Beasley 7). No one knows whether the owners of these disruptive technologies will be alive to face any allegations or whether the human claims against ethical and legal concerns will receive any attention (Beasley 5).

In America, over 250 cases are pending concerning the petitions filed against the RFID disruptive technologies, over 120 healthcare problems have resulted from micro-chipping, and several fraud cases have already spread out.

Employment and human extinction

The global human population is increasing with people witnessing an increase in the number of the newborns each subsequent day. The previous and present technologies have improved human lives (Beasley 2). Employed people in the offices are enjoying the benefits of different innovations, while the unemployed continue to show relentless enthusiasms towards the future innovations. However, someone somewhere is bringing a new human invention that would displace the human workforce and replace it with remote-controlled beings.

Undoubtedly, the microchip the robot, and the clone technologies will bring about new opportunities and advancements (Barat 45). The computerized robots and supercomputers are undergoing numerous technological tests to confirm their suitability in providing a better workforce that can multitask effectively (Beasley 2). The Caprica science fiction movie highlighted one of the amazing innovations where intelligent robots in the form of human beings gradually took control over the humankind.

In the Caprica movie, the computerized robot finally turned out to be a threatening invention to the human survival as it took control over the important human functions (Caprica). The Holoband that Daniel invented and supported by the brain and memory of his daughter turned out to supersede the human intelligence through its intelligence in the virtual world (Caprica).

The movie portrays the passionate urge of the people to cope with the virtual world that is full activities of sexual abuses, drug trafficking, and homicide. Such innovations of the super intelligent robots must not commence if these technologists care about the future humankind (Beasley 3).

Increased joblessness, hunger, global civil wars, and lawbreaking would be common if the intelligent robots would function like the human beings. Mitigating the robot manufacturing companies would help the world to reduce the amount of resources that people will use to curb their consequences.

International Civil War

Speedy communication, swift-moving robots, supercomputer systems, and the RFID disruptive technologies are all components of the future technology that will be leading the world to an era of an endless aggression (Beasley 5).

The upcoming technology is influencing the formation of the international terrorist groups, which seem to be superior compared to the established governments. Terrorist groups have allied together to form powerful insurgency groups such as the Islamic State of Iraq and Syria (ISIS) and the Al-Qaida groups, which are also expressing a desire for the upcoming technologies.

The robots and supercomputers as witnessed in the movies will bring a new form of global war where technology and innovation will be part of international supremacy (Beasley 9). The power of the future robots is eminent in the Caprica science-fiction film, where the curiosity to avenge by using weapons impels people to use the computerized robots in the wars.

Technological weapons are useful when humans use them to protect the innocent civilians against external aggression within their national borders. Nations are currently using deadly atomic weapons that are capable of erasing the human beings on a single attack (Barrat 36). However, the focus of using sophisticated weapons to protect national boundaries has shifted from the use of humans and soldiers, to the use of supercomputers and robots.

Possessing sophisticated weapons is now a sign of global supremacy. Hence, developing the supercomputers and robots to compete in intense battlegrounds shall never remain guided by any ethical principles so long as countries continue to fight for global supremacy and weapon superiority (Barat 31). If such future technologies will bring about animosities, human destruction, and threaten the future of the humankind rather that providing human security, people should abolish these innovations.

Technology and Business

The ultramodern people have mutually concluded that technology has an imperative contribution to the welfare of the modern corporate institutions. The order of doing business with the super speed robots and cloned beings will change how companies utilize resources, mitigate corporate risks, improve business services, and enhance the firm auditing practices.

According to Barrat (200), these impressive robot and cloned beings are indisputable. Nonetheless, these same technologies will bring about ultramodern means of corruption and fraud within the firms. Even as people continue to ignore the cyber-attacks and cybercrimes that are rapidly increasing, modern firms will endure losses through these disruptive technologies (Barrat 185).

Come to think of the computerized robot that has already portrayed a higher level of intelligence than the human beings have. The Caprica movie shows a highly intelligent robot that evolved from depending on the human beings to control it, to self-governance.

Human beings are already using these super robots to practice corporate fraud and corruption, and evade capture. Human beings are giving away their memories and brains and receiving microchip implants in their heads as the technological brains (Barrat 59). Jenna Fox is a movie that reveals the manner in which humans receive microchip implants that distort their brains and alter their memories.

Replacing human beings with the computerized robots is unethical given the increasing numbers of the unemployed people, who contribute to crime and poverty due to their socioeconomic statuses (Ip et al. 7).

Accepting the intelligent robots into the corporate functions is the beginning of the extinction of the human race. Companies are looking for these opportunities to frustrate human workforce that seems to consume corporate finances through the huge wage bills. Robotic technology and the microchip implants must not receive any approval.

The Human Health

The upcoming robot and clone technologies seem promising for those who deal with the health care sector, as the majority of the automated machines will be vital in promoting good health in human beings. The upcoming RFID technology and cloned beings will improve the storage and access of personal health information. However, the electronically powered robots that will perform human chores or influence and improve the human services are threats to the humanity (Ip et al. 7).

The intended microchip implants, the robot innovations, and the clone technologies will adversely affect human health and survival. The Transcend Man is a modern fictional documentary that demonstrates the manner in which technology has made human beings to disbelieve death (Transcend Man). Ray refuses to admit the occurrence of physical death and remains deceived that human beings and machines can merge.

Such notions of combining human beings and machines have made people to admire the microchip implants and the intelligent robots. One can imagine the impact of replacing the natural human brain with the computer-controlled microchips that are capable of causing permanent memory losses and brain damages. Death is inescapable even as people try to strategize means of improving human survival (Ip et al. 3).

The microchip implant systems and the intelligent robots are bringing danger to the permanent existence of the human beings. The probability that human beings will finally lose control of these intelligent robots is high as certain individuals may use them for their personal benefits (Ip et al. 8). Robots and microchip implants will be the source of the global wars of supremacy. Human beings will suffer permanent physical fractures, and cloning surgeries will affect human thinking, and disrupt the human lifespan.

Conclusion

Everyone is admiring the upcoming innovation, although questions about these disruptive forthcoming technologies continue to be very few. The intelligent robots and the microchip implants that may appear on human heads are two wicked technologies that are about to cause a recession of the human race.

When innovators think of these sophisticated technologies, no one seems to understand the motives behind their actions. The natural way of living and relying on the human mind will soon vanish as people have shown an intense interest in the microchip, the cloning technologies, and robot technologies that have received frequent attention on the media systems. No one wants to die, and no one wants the robots to replace the human race. Then why are these upcoming technologists so insensitive?

Works Cited

Barrat, James. Our Final Invention: Artificial Intelligence and the End of the Human Era, United States, New York: St. Martins Press, 2013. Print.

Beasley, Ryan. Medical Robots: Current Systems and Research Directions. Journal of Robotics 2012 (2012): 1-14. Print.

Caprica. Sir. Eric Stoltz, Esai Morales, Alessandra Torresani, and Jeffrey Reiner. Battlestar Galactica, 2010. DVD.

Ip, Rodney, Katina Michael, and Maxwell Michael. The social implications of human-centric chip implants: a scenario -Thy chipdom come, thy will be done. Collaborative Electronic Commerce Technology and Research 2.1 (2008): 1-11. Print.

Kurzweil, Ray. The Singularity is Near: When Humans Transcend Biology, United Kingdom, London: Penguin Books, 2006. Print.

Transcend Man. Barry Ptolemy, Christopher Waltz, and Dr. Ray Kurzweil. The Toronto Sun, 2011. DVD.

Top Innovations in Human History

One could hardly imagine the modern world without devices that people use in their everyday life. They make our existence more convenient, comfortable, and efficient. However, these inventions result from the years of investigations that promoted the development of human thought and triggered scientific evolution. Besides, there are also some innovations that had an overwhelming impact on the history of humanity.

The first one is the discovery of electricity and the possibilities for its usage in everyday life. Being a macro-level innovation, it altered the image of the world and introduced numerous opportunities for its further development. The second significant discovery is the creation of the combustion engine as it introduced the new era. The third one is the usage of penicillin to heal patients suffering from various diseases (Grabianowski para. 6). The controlled use of fire is another important innovation. Finally, the creation of money altered the world greatly and conditioned the development of the market. All these discoveries could be considered macro-level innovations as they changed the world.

If to speak about electricity, its investigation was a long-term process that demanded great intelligence and practical skills. For this reason, it is difficult to determine a certain innovator as many people contributed to the development of the issue. Thales was the first to notice this phenomenon while William Gilbert introduced the term electricity; finally, Benjamin Franklin created the first theory related to this issue and introduced the new era (History of Electricity para. 8).

This innovation could be taken as radical as its impact on society could hardly be overestimated. Nowadays, life is unimaginable without electricity as it has obtained new features that made it one of the main modern resources which could hardly be replaced by something else.

Top Innovations in the UAE and the MENA Region

The MENA region has a very bright history which is characterized by the appearance of numerous ancient states and unique cultures that conditioned the development of scientific thought. Moreover, being one of the regions with a rich cultural heritage, the given land has always been considered one of the main suppliers of new inventions. In these regards, it is possible to highlight three main discoveries that had a great impact on the whole world.

The first one is coffee which was firstly made in Yemen in the 9th century. The famous drink helped Muslims to spend nights worshiping their God. Nowadays, one of the most popular goods which are used all over the world. Coffee became one of the main symbols of the modern era, and its importance is evidenced by millions of people consuming the product. Furthermore, algebra is another invention that changed the course of our history. It is difficult to trace the origins of this knowledge; however, numerous scientists agree that it was studied in the MENA region. One realizes the significance of this invention and the effect it promoted on the further evolution of various fields of science as modern progress could hardly be achieved without the basic knowledge of algebra (Sterns para. 5).

Finally, decorative cosmetics were invented to emphasize the beauty of rulers in Egypt. All these phenomena had a great impact on society and could be considered macro-level ones. Unfortunately, at the moment, the given region does not show great scientific progress and does not provide new practices or tools that could change the world (Osman para. 7). However, the realization of the great competitive advantage conditioned by innovations might contribute to the further development of the region. I believe that I should also participate in the process and promote the evolution of science.

The Role of Innovation in Human History

It is obvious that innovations have a great impact on society and trigger the process of change that alters the traditional approaches and introduces the new practices. Very often, these shifts in practices could not be accepted by the community, and it prefers to ignore them. However, this approach conditions isolation and stagnation that results in the collapse of this very community. For instance, feudal Japan did not accept the firearm as its idea contradicted the values appreciated in society. The honor code emphasized the usage of swords as the only weapon that should help a noble warrior in battle (Samurai and bushido para. 9).

That is why the country was not able to resist invaders who used the newest weapon and destroyed the Japanese army. This case perfectly demonstrates the impact mentality of a certain community has on the acknowledgment of a certain invention.

Cogitating about the role of inventions in history, the Roman Empire should also be mentioned. Being a civilized country that promoted the development of science and technological progress, it was the dominant force in the ancient world. This fact is evidenced by the absence of communities that were able to resist Quirites. The relations between the Empire and barbarian tribes could be considered the best example to prove the idea.

Numerous barbaric tribes were not able to conquer the Roman Empire because of its dominance in military, cultural, and political spheres. Besides, innovations played a crucial role in this opposition. Romans devoted great attention to the evolution of military science and created the professional army equipped with the best weapon and headed by talented commanders (Science and Technology in Ancient Rome para.5). That is why technologies and innovations served as the guaranty of the prosperity and dominance of the Roman Empire.

Potential Negative Consequence of Innovations

It is widely accepted that innovations have a great positive impact on the evolution of society and promote its further development. However, there are numerous discoveries in which nature could be considered contradictory as their appearance resulted in numerous problems, conflicts, and deaths. Everyone remembers the aftermath of nuclear strikes. This fact introduces debates about the negative consequences of innovations.

If to speak about the business world, it could be considered on the of the spheres that change dramatically. The appearance of new practices results in significant changes in some traditional approaches. These alterations are focused on the improvement of the companys functioning and its efficiency; however, the usage of the new practices also conditioned the failure of the enterprises using the old ones, and hundreds of people lost their jobs (Pianta 5). That is why it is crucial to consider the consequences of the implementation of a certain innovation.

Additionally, innovations in the health care sector could be taken as the most ambiguous ones. It is conditioned by the nature of the given sphere as it deals with human life. There are several concerns related to the given issue. First, a number of modern approaches appeared due to inhuman experiments that caused a lot of deaths. For this reason, the question of the price of innovations appear. Secondly, some of the modern discoveries might contradict the ethics and accepted values (Shaughnessy para. 6). Finally, there are numerous examples of when various medicines were used for some other purposes. Still, there are many innovations that had a pernicious impact on society and introduced a great threat to its security.

The above-mentioned spheres are not unique ones as the progress impacts all fields of human activity and introduces significant changes to the functioning of various enterprises, organizations, companies, institutions, etc. However, the further development of technologies and sophistication of the approaches towards digital devices introduce the problem of certain sciences evolutions practicability.

For instance, the development of the food industry resulted in the creation of harmful nutritional supplements that have a great pernicious impact on the health of a person. Moreover, the evolution of the chemical industry promoted the appearance of numerous artificial materials that do harm to the environment (Sveiby et al. para. 8). Resting on the given facts, it is obvious that certain limitations should be introduced to monitor the state of science and possible outcomes of a certain invention. Humanity has entered the era of digital technologies, and it is vital to be able to stop as once these inventions could destroy us. Hadron collider or artificial intelligence already poses a great threat to our security as no one could predict the results of their functioning (De Looper para. 6).

Altogether, humanity should reconsider its approaches to innovations and make a pause to analyze the aftermath of the further evolution of various devices or approaches. Otherwise, one day we will not be able to perform some kind of activity because artificial intelligence will decide that we do not need it and deprive us of this opportunity.

Works Cited

De Looper, Christian. Is Artificial Intelligence Really A Threat To Humanity? Tech Times. 2015. Web.

Pianta, Mario. The impact of innovation on jobs, skills, and wages. 2004. Web.

Shaughnessy, Haydn. The Positive and Negative Equity of Innovation Cultures. n.d. Web.

Sveiby, Karl-Erik, Pernilla Gripenberg, Beata Segercrantz, Andreas Eriksson, and Alexander Aminoff. Unintended and Undesirable Consequences of Innovation. 2009. Web.

Samurai and bushido. n.d. Web.

Science and Technology in Ancient Rome. n.d. Web.

Osman, Sara. Unlocking Jordans science potential. 2013. Web.

Sterns, Olivia. Muslim inventions that shaped the modern world. CNN. 2010. Web.

Grabianowski, Ed. 10 Inventions That Changed the World. 2013. Web.

History of Electricity. n.d. Web.

To-date, cloud storage is firmly premised in our everyday PC usage. It has been studied ever since it was introduced. These are the most up-to-date pieces of research we have managed to acquire.

The article TBR 2015 Cloud Predictions: Fragmented Capabilities features the TBR experts prognoses over the implementation of a private cloud in 2015. They state that there have been some trends recently that they believed to last in 2015. The trends include the rapid spreading of private cloud adoption, an increase in private cloud security funding, and the growth of profit up to more than a fifth, yearly. The services will be more widely available, the experts state. Also, the providers will work on a more customer-friendly interface (Krans et al. par. 2-4).

Some statements on the public cloud storage were articulated by Yousef Khalidi, a Microsoft expert, during the Cloud Computing Roundtable conducted by IEEE Cloud Computing in 2014. He stated that, currently, users do not ask whether it is worthwhile to use the cloud at all. Instead, the questions they ask mainly refer to what applications should they use for clouds in their organizations and in what geographical point it is optimal to use it. Thus, the expert states, public cloud adoption is in high gear (Mazin et al. 41-42).

These statements are supported by other research concerning governments and businesses of various sizes. It is said that a trend has emerged: governments and organizations opt for the cheapest and most efficient solutions in terms of software. Big data is yet another factor explaining an increase in public cloud usage. It is also claimed that, presumably, cloud storage systems will soon become a necessity (The Dawn of the Cloud Era par. 4-11).

As to the innovations in cloud storage, it is stated that, during the past decade, the public cloud consisted of big data centers. The servers were plentiful. Despite the fact that such a scheme passed the tests of time and security, there are some technical and non-technical disadvantages to it. For example, if a zone suddenly fails, the tenants will be probably dropped out. A remote server can be insecure in terms of private data. The researchers suggest that an alternative model is applied. The distributive cloud model would be more suitable for small businesses since it is cheaper; besides, all data is stored locally, which ensures privacy security (Coady et al. 38).

Another piece of research offers an overview of big data innovations. Such public clouds as Google have introduced new platform technologies. They opt for a customer-friendly set of tools to create ones own software. With the usage of such tools, a user can build his/her own servers and applications; besides, the cloud offers a secure infrastructure to handle them (Collins 13).

As the year 2015 comes to an end, some companies go into predicting further ways of cloud development. It is true that cloud storage has to meet security challenges. However, in spite of such serious doubts, organizations continue to adopt cloud systems. According to a recent survey conducted by IDG Enterprise, it is estimated that, in 2016, approximately 50% of all software will be cloud-based as opposed to the current 8%. The percentage of organizational software stored in the cloud is less than a half; this number is expected to increase up to 56% by the end of 2016 (Betts par. 1-4).

Works Cited

Betts, Mitch. IT shops will pass the cloud tipping point in 2016, survey finds. Computerworld. Computerworld, Inc., 2015. Web.

Coady, Yvonne, Oliver Hohlfeld, James Kempf, Rick McGeer, and Stefan Schmid. Distributed Cloud Computing: Applications, Status Quo, and Challenges. ACM SIGCOMM Computer Communication Review 45.2 (2015): 38-43. Print.

Collins, Eli. Big Data in the Public Cloud. IEEE Cloud Computing (2014): 13-15. Print.

Krans, Allan, Matt Healey, Jillian Mirandi, and Cassandra Mooshian. TBR 2015 Cloud Predictions: Fragmented Capabilities. Computing Now. IEEE Computer Society. 2015. Web.

Mazin, Yousif, Tom Edsall, Johan Krebbers, Stefan Pappe, Yousef A. Khalidi. Cloud Computing Roundtable. IEEE Cloud Computing (2014): 40-49. Print.

The Dawn of the Cloud Era. Gulf Business. Motivate Publishing, 2015. Web.

Change is constant in the techno world. This is evident through the numerous innovations witnessed in the multi-billion industry over the past few decades. Of course, most of them, including high speed internet connectivity and social media, have significantly affected human life (Gibson, 2013).

Equally, the future looks bright and the sector is expected to experience more advanced innovations in the near, mid, and long-run periods that can effectively handle day-to-day management issues. Some of the notable advancements that are likely to further transform the industry include 6G network, driverless car, Project Loon, Smart-Cup, and Mobile Bluetooth keyboard.

The 6G innovation is one of the greatest technologies that are likely to be rolled out in the near-term in order to meet consumer and business needs. In addition to enhancing connectivity, the network will offer lifeline communications and broadcast services. Its predominant potential benefit is increase in bandwidth to as high as 100 Gbit/s upstream accordingly easing congestion in the increasingly growing market. On the other hand, the innovation may lead to negative ramifications on the environment due to fact that it must be powered by sophisticated machinery.

Conversely, mobile Bluetooth keyboard is also likely to be a leading innovation in the near-term period. This is a project that intends to give computer users the flexibility that comes with working from various positions due to the fact that it will employ wireless technology (Richardson, 2010). The noticeable benefit of the project is that it will reduce the ingestion of harmful substances into the body. On the contrary, it may be a form of carcinogen due to the reason that it makes use of ions.

Also, it is feasible that future innovations will be geared towards solving health-related issues. One of the projects that may facilitate the realization of this noble goal is a SmartCup, which will feature an application capable of recording its content temperature. Undoubtedly, this is good news to those who are conscious of the temperature of a drink and its effect on thermoregulation.

Project Loon is also a revolutionary innovation likely to redefine the tech industry in the mid-term period. In particular, this is a Google Inc.s project that aims to reduce digital divide across the entire globe through provision of Internet access to remote and rural areas. The initiative will employ high-altitude balloons in order to facilitate the creation of a wireless network. One of the positive ramifications of the project to the society is that it will increase internet speed in the remote areas accordingly allowing people to work from different locations. The chief Achilles heel of the proposal is that it may be costly to implement and support, especially due to its magnitude.

In addition, innovation is on the verge of turning the dream of a driverless car to reality. In fact, the project is already in its final completion stages and Google anticipates that it will be introduced to the market by 2020. In particular, the automobile will be use hydroelectric power consequently reducing reliance on oil energy (Landrum, 2008). Besides, the project will enhance transport through increased speed. On the other hand, the limitation of the project is it is not an all-weather car; it is likely to be affected by unusual weather conditions such as heavy snow and heavy rain.

In summary, a number of groundbreaking projects are likely to be introduced to the market in the future. Some of the notable initiatives include 6G network, driverless car, Project Loon, Smart-Cup, and Mobile Bluetooth keyboard. Unquestionably, they will greatly impact the daily human life.

References

Gibson, J 2013, The logic of invention: patents, information, language, Ashgate, Farnham.

Landrum, G 2008, The innovative mind: stop thinking, start being, Morgan James Pub, Garden City, NY.

Richardson, A 2010, Innovation X why a companys toughest problems are its greatest advantage, Jossey-Bass, San Francisco, CA.

Modern scientific and technological processes are practically impossible without the widespread introduction and use of new powers and utilities. The sector of power and utilities is tightly connected with digital innovation, which makes it possible to solve many diverse scientific, technical and technological problems in the shortest time intervals. There are the speed and versatility that have made digital technologies so prevalent in modern branches of science and production, and the audience does not have to go far for examples. Digital innovation is a unique phenomenon that, over the past decades, has radically changed the life of each of the inhabitants of the planet.

According to the article Digital Innovation by Deloitte Insights, the introduction of digital innovations will occur at a faster pace every year. For example, by 2050, electricity will become 48 percent cleaner, according to the experts. In the future, the introduction of power and utilities will allow scholars to completely switch to digitalisations of human life, conveniently combining in one device the unlimited functionality of many items necessary for a person. Industries that intensively use digital technologies are developing twice as fast as average organisations.

Taking into account all the information discussed above, it appears logical to claim that the main benefit of the article is its focus on the practical outcomes of power and utilities. Experts suggest that disruptive forces transform the electric power sector, and leaders of power corporations plan their digital journeys, taking into account the impact of those forces. In the contemporary information era, humanity is preparing to take a new step in the development of digital innovation; thus, disruptive forces can make a significant impact on businesses in the power sector.

Furthermore, the article appears to be highly useful for the field of electricity and water authority; primarily, it can be successfully implemented in the organisation where I work, SEWA (Sharjah Electricity & Water Authority). This company aims to independently, in financial and administrative way, supply and generate water, electricity, and natural gas to Sharjah Emirates nationals and residents. According to the article, opportunities prevail in todays energy and utility market will open up as the future unfolds, characterised by three increasing trends, such as decarbonization, electrification, and decentralization. The authors also highlight that other than moving electrons, power and utility companies are likely to see increased opportunities to establish value based on insights, data, and services. Thus, implementing the data from the article into its activities, SEWA should have real-time situational knowledge of its transmission, generation, and distribution assets to become efficient power company.

Moreover, the article emphasises that due to an increase in energy efficiency, the consumption of electricity in developed countries will no more grow in tandem with GDP incase. SEWA should be acquainted with this information in order to survive in the market. Under such circumstances, today, scientists are working to create a method that would allow the use of all the elements obtained. If the results of scientific work are positive, then humanity will receive a new alternative type of fuel, the resources of which will be unlimited. Taking into account the information from the article, especially the hypothesis that disruptive forces will soon reshape the whole power sector, I can significantly contribute to the development of power segment inSEWA. Accordingly, the findings of the article can be efficiently used during my professional career in SEWA.

Introduction

Disruptive and sustaining technologies are emergent innovations that tend to change conventional technologies gradually or radically. Owing to their nature and comparative advantages that accrue the adopters of the innovations, numerous countries, companies, and industries have attempted to commercialize disruptively and sustaining technologies. The rise of disruptive technologies in the contemporary world has phased out many companies that cling on to their old traditions of operations. Nevertheless, new entrants into the markets who take advantage of disruptive technologies have reaped handsomely from the innovations. As such, various countries have attempted to reform their national systems to commercialize disruptive technologies. While many proponents highlight that national systems have done a lot to facilitate the commercialization of disruptive technologies, I suppose that the national systems have done little to commercialize disruptive and sustaining technologies.

National systems and commercialization of technologies

At the outset, it is important to recognize that disruptive technologies have some fundamental requirements for them to be able to replace conventional technology. This involves such areas as technology. With this in mind, it is essential to notice that various national systems have failed to adopt the appropriate technologies for their industries to replace the existing technology. In particular, Danneels (2004, p. 45) argues that within the broader requirements of disruptive and sustaining technology, there are areas that require refinement, especially those that enhance the commercialization of technologies. These gaps have been apparent in many industries and national systems. With these areas not successfully addressed, national systems are doing little to commercialize the emergent disruptive and sustaining technologies.

It is important to consider various phases that disruptive technologies undergo before their full commercialization. While these areas succeed each other, failure by national systems to place emphasis in all or one of the phases may lead to low-level commercialization of technological innovations (Danneels 2004, p. 47). The first stage is the emerging phase, during which there are new products and innovations in the market. These products attempt to replace existing technologies in a radical way, and industries perceive them as threats to the existing products.

In this phase, new sectors and industries come into the market. For instance, there was an emergence of new sectors relating to electronics by the end of the 20th century. The sectors now have grown to include information and technology with other areas expected to emerge. As Christensen & Raynor (2003, p. 56) explicate, national systems have failed to be flexible enough to incorporate the new sectors in their frameworks and allow the products to enter the second phase of development. This implies that the lack of flexibility within national frameworks that guide innovations has been detrimental to the commercialization of disruptive technologies (Christensen 1997, p.13).

While some national systems fail to support technologies, others market disruptive and sustaining technologies. It is critical to appreciate that the second stage is typical of diminished risk for products failure, and it attracts increased production costs (Christensen & Raynor 2003, p. 56). Besides, product differentiation among products in the markets also characterizes this stage of development and commercialization of disruptive technologies (Christensen 1997, p. 71). Companies make products that are different from other products by competitors. Although they utilize similar technology, product differentiation at this stage is apparent. Nonetheless, it is at this stage of development that many technologies fail to have any impact in the market and consequently collapse. Mohr & Slater (2005, p.12) explain that disruptive technologies fail at this phase owing to the failure of design standards that national systems prescribe. Besides, governments fail to see disruptive technologies like products that require immense commercialization and fail to design regulatory frameworks that enhance the successful implementation of the innovations (Mohr & Slater 2005, p.12). As such, the national standards are currently doing little to facilitate the commercialization of technological innovations.

The mature phase is the third stage of the process of commercialization of innovation and technological products. As such, products fail at this stage, owing to the increased need to minimize production costs and focus on profit maximization. Companies that are able to exploit this phase and dominate the emergent markets may fail to achieve this objective due to countries provisions and other rules that may impede the disruptive technology to emerge. Owing to the need to reduce costs, the end-user of the innovations may end up paying up a significant proportion of the production cost (Slater & Olson 2001, p. 67). This makes technology at this stage very expensive, making authorities to intervene. As such, the national systems allow the existing technology to proceed and typify the markets with disruptive technologies unable to displace them successfully. As such, the national systems lead to slowed commercialization of new products. It is critical to enhancing the ability of the current system to be open and flexible to innovations.

Successful marketing of innovations and disruptive technologies is dependent on the ability of national systems to adopt and diffuse innovations. It is important to notice that there are different categories of national systems that may allow the successful implementation of technologies. Particularly, Slater & Olson (2001, p. 34) explain that different characteristics and segments of national systems of innovation may bring about different results and affect commercialization in both positive and negative ways. For instance, national systems that allow companies to pioneer the markets as early market innovators have the characteristics of enthusiasm and zeal. Slater & Olson (2001, p.16) assert that such national systems are typical of motivated adopters of technologies who appreciate the role of technology in shaping human society. Besides, the segment embraces technology and is able to put up with hitches that may be pertinent to the adoption of technological innovations.

While the aforementioned segment may enhance the adoption and commercialization of disruptive technologies, Slater & Olson (2001, p.12) point out that other segments of adopters that typify numerous national systems of innovations are unable to enhance the commercialization process. Particularly, they say that segments such as laggards and late majorities are unable to tolerate technology and innovation (Slater & Olson 2001, p. 76). In fact, the two groups are the majority and represent conservatives who perceive technological innovation and consequent adoption with a lot of skepticism. With such characteristics, national systems of innovation are, in most instances, unwilling to facilitate adoption and commercialization of disruptive technologies. Therefore, it is apparent that numerous systems that provide a framework for the adoption of technology are adamant about commercializing the technologies and, thus, act as impediments to the process.

Many national systems of innovation are unable to have an appropriate market orientation. In this case, they do little to understand the needs of the customers prior to the development of their respective technologies. Research has shown that market orientation is important during the emerging phase of innovations, but this influence diminishes as the product reaches the maturity phase (Slater & Olson 2001, p. 43). This implies that national systems of innovations that fail to enhance the comprehension of the latent needs of the consumers may lead to innovations that are difficult to commercialize. Mohr & Slater (2005, p.15) explain that many national systems are ignorant of the customers needs by embracing technology at its maturity phase.

To that end, the process of commercialization of technological innovation becomes an expensive venture that may fail to achieve its objectives. For instance, early innovators are mainly in industrialized countries, while the majority of late adopters are in developing countries (Mohr & Slater 2005, p. 14). As such, the national systems of the developing countries have continuously adopted technology at its mature stages, making it almost impossible to adopt appropriate technology that addresses the pertinent issues and needs of their customers. Notably, failure by national systems to consult with early innovators regarding the needs of their customers makes it difficult for them to commercialize technology that is not relevant and does not address their issues fully.

Further, Hamel & Prahalad (1994, p. 57) point the failure by national systems to facilitate the process of commercialization of technology innovations due to a lack of marketing strategies to achieve the goals of commercializing innovations and technology. Specifically, they articulate that national systems are typical of vague strategies that make the process uncertain (Hamel & Prahalad 1994, p. 57). While innovation and technology may seem spontaneous, it results from the strategic process of planning that ought to have a clear structure of commercializing the final product.

From the onset, new market entrants may have such a strategy, but the existing institutions may be unable to integrate the strategy into their operations. In particular, while telecommunication firms such as Verizon have continued to integrate technology and ultimately remained profitable, new market entrants such as LG and Nokia have been successful and replaced other preexisting rigid firms (Bessant & Tidd 2011, p. 47). It is vital to notice that marketing strategy is pertinent to all the processes of selling, and ignorance of the process may result in poor commercialization of technology and innovations. Hence, Bessant & Tidd (2011, p. 54) claim that national systems ought to be responsive to technological innovations that will propel the countries to market technology.

Conclusion

In sum, national systems of innovations have failed to facilitate the successful commercialization of technology and innovation. First, they are typical of inflexible and rigid frameworks that are irresponsive to technological advances. Besides, the systems do not appreciate that the development of technology happens in stages during which failure to address the issues typical of every phase may reduce the innovations potential. This may lead to the collapse of innovations and technological products. Segmentation of adopters makes the process of marketing technological innovations, an expensive venture, especially when the national systems are conservative and demonstrate skepticism to technology. Marketing strategy and market orientation are other aspects of technology that are apparently lacking in many national systems. All these factors have led to the conclusion that national systems have done little if anything to facilitate the commercialization of disruptive technology.

References

Bessant, J & Tidd, J 2011, Innovation and Entrepreneurship, John Wiley & Sons, West Sussex.

Christensen, C & Raynor, E 2003, The Innovators Solution: Creating and Sustaining Successful Growth, Harvard Business School Press, Boston.

Christensen, C 1997, The innovators Dilemma, Harvard Business School Press, Boston.

Danneels, E 2004,Disruptive Technology Reconsidered: A Critique and Research Agenda, Journal of Product Innovation Management, vol. 21 no. 4, pp. 246258.

Hamel, G & Prahalad, C 1994, Competing for the Future, Harvard Business School Press, Boston.

Mohr, J & Slater, S 2005, Marketing High Technology Products and Innovations, Prentice-Hall, New Jersey.

Slater, F & Olson, E 2001, Marketings Contribution to the Implementation of Business Strategy: An Empirical Analysis, Strategic Management Journal, vol. 22 no. 11, pp.10551068.

Executive Summary

With increased technology, individuals and businesses are increasingly using laptops for various personal and business functions. Laptops are electronic gadgets with a microprocessor that depends on power supply to function. Solar energy is freely available and can be tapped for charging laptops. However, this technology has not yet been embraced in Australia and at large the world. There are numerous advantages that can be derived from using solar charged laptops.

They are both monetary and efficiency based policies. After coming up with the first products, they will be show cased and samples given to corporate bodies for a trial. Entry strategy in the market will be approached from an executive and corporate point of view. As an entry strategy, the company will use customer-company relation whereby instead of a marketing strategy that targets a large population, it will start from small group, individual corporate bodies, and individuals.

A customer focused approach will be adopted to ensure that the needs of customers are always understood and met. Strengths of the company which include an increased population of enlightened people will be maximized as measures are put in place to mitigate and cope with dangers posed by its weak points. Environmental strengths will also help a great deal.

New Venture Development

Introduction

There is need for a reliable source of energy to power laptops. Laptops are rechargeable gadgets which if photo electronic batteries with charging chips are used, then solar energy can be used to charge them. This report discusses an innovation of solar charged laptops. It will also give an analysis of the strengths and weaknesses that the business is likely to get.

Direct Solar Charged Laptops

Technology is on the increase. Many people today are using laptops in their day to day activities. Laptops are electronic gadget, which must depend with a reliable source of electricity to be recharged. In Australia, there is power distribution in at least 80% of the population; however the power supply is not 100% reliable. On the other hand, there is need to use the garget in areas where electricity has not reached.

At times the need to work in far territories arises; most of these areas are without electricity for instance Africa and Caribbean countries where power supply is limited. Solar energy that is freely available in nature can be tapped and used as a source of power for laptops.

Solar Energy

This energy is gotten direct from the sun by use of solar panels; however a chip should be used when in laptops. This type of energy has been used for many years although some scientists have recently started to research on how it can be put into more use. These scientists discovered that, Solar panels can be used to convert the rays from the sun into electricity.

This can be done in two ways:  one is called solar thermal applications where the sun is used to heat liquid or air. The second is called the photoelectric applications whereby photovoltaic cells are used to generate electricity directly from the solar energy (U.S Energy information Administration (EIA), n.d).

Solar energy is one of the cleanest sources of energy and has no harmful byproducts or threats. The major drawback of this type of energy is that it is very expensive to put up the solar panels and also to maintain them. To add to that the energy that is generated by these solar panels is not sufficient for large scale use.

What the product needs to incorporate is a self charging system, which is a matter of using chips that will assist in charging the laptops battery. When the battery is full, then it automatically switches itself.

The Opportunity

Technology is on the rise, there is a shift from the old office business where employees were required to report in offices to do their jobs, today home based working has taken preference. People are using desk tops, teleconferencing technology, and laptops for this noble task of serving their employer when at home.

Computers consume large amounts of power and with recession on course, any measure that aims at reducing home, office, and business expenditure is highly welcomed. When solar laptops are developed, there will be numerous benefits to the user as well as to the company they include;

Solar power is relatively cheap than electricity; this will reduce power bill budget and ensure productivity. If they are adopted by a company, they will reduce a proportion of electricity bill in trading profit and loss account. This will lead to an increased profits and money for expansion will be availed. Large amounts of revenue from business results in an increased government revenue through taxes. This will lead to developmental projects being implemented for the betterment of the country.

Australia has an all-roundthe-year sunlight which can be easily tapped by the laptops charging system and used efficiently. One will not need to stay in direct sunlight to charge the laptop but all will be needed is some sunlight penetrating where the laptop is.

Execution Feasibility

Management Team  Company SWOT / TOWS analysis

Strengths

The strength of this company will undoubtedly be engineered by its internal managerial mechanisms. In order to have a competitive edge in selling its product and services, it will be advisable for the company to take advantage of its ability to compete favorably with equal players in the market. A strategic marketing plan is the only way out.

Through this arrangement, the company will be able to adopt different modalities and outreach programs of reaching out to its consumers. In a market mostly controlled by the efficiency and the affordability of the products as well as quality, it will be an open strength for the company to explore more on innovations. In retrospect, strategic marketing plan should be in a position to explicitly document the various channels that can be used by the company to allocate more resources towards improving quality (Livingston, 2008).

Weaknesses

These refer to stumbling blocks that may deter the company from progressing towards a particular direction. One of the weaknesses is attitude that customers have upon new things introduced in the market. Laptops are expensive commodities which no one would be willing to have a try and test method. When discussing the concept of strategic market planning, we discover that resources are vital for an organization to effect significant changes.

Another area of inevitable weakness is an expansion plan, which entails diversifying the level of the company activities. This may take different forms. A critical look at geographical expansion depicts a glaring possibility of other stringent market uncertainties. Right at the onset, strategic planning will demand strategic resources, both human and financial, to make any significant move.

Besides, implementation of the proposed market research will require mutual consent from all the affected divisions in the company. This will not only consume time as decisions are being made, but a lot of uncertainties abound especially on the verdict of the company.

Opportunities and Threats

Opportunities for the company are dependent on both the internal and external assessment criteria of the companys profile of operation. Similar to the weaknesses discussed above, the company can still optimize on the various opportunities available to bring about sustainable growth through effective competition.

Some of the underlying opportunities for this company in regard to the macro environment are the diversification of its activities. The company may opt to not only run on large scale, but also produce variety of products. This concept of variety may be approached from different angles like micro lendings via collaboration with local banks.

In striking for the right opportunities, the company will have to analyze its main market rival. The strategies being employed by the competitor should be critically assessed and evaluated for necessary counter action. In addition, the general plan of the competitor in a bid to control the market is a vital toolkit which this company can use to estimate the competitive edge of the market.

Sustainable Competitive Advantage

To have a sustainable competitive advantage, there is need to improve the products with time. The company will have a research and development team which will be mandated to survey the market and advice the management on measures to take to ensure that it remains competitive. Another way is the use of appropriate advertising and marketing strategies.

Promotions are done in the effort to either introduce a new product or increase the market segment. To engage in a promotion, the first thing to understand is the availability of the target customers. Where are they likely to be found? Are they free in the mornings, is it in the afternoon? After realizing their availability and the fact that they can give you time to sell your products, and then know the age of the market.

If the promotion is for the introduction of a new product, then a lot should be invested in assuring the client of better quality than that offered by the competitor. The existence of opinion leaders should be evaluated. The customers are likely to follow the opinion leaders in making their decisions. The existence of groups in the society and their matching lifestyles can also be of great use.

The way the consumers react is that they will follow the others. Investment should be made in this. If the promotion is for an already existing product in the market, the approach should be from the angle that we are thanking our customers. If the customer feels appreciated and recognized he will develop loyalty and influence others to follow his way.

Environmental Analysis  What Trends Have Created This Opportunity?

Australian and the world population are on the rise where the numbers of youths who are enlightened is increasingly high. On the other side, office spaces are becoming limited and an existence of briefcase companies on the rise. These people however need to communicate with each other and do business. One of the ways of doing this is the use of laptops.

On its side laptops will need to be charged, the technology of solar changing can be the solution to this. It is cheap to use and efficient clean technology. According to United Nations, (1998) the world is continuously facing an increased population. The numbers of youth and young families, who are continuously adopting modern lifestyle, are on the rise. As a result there is increased demand for laptops.

Australian population is also on the rise, according to Australian bureau of Statistics, (2010) it stands at 22,431,468. The population is mostly concentrated among the young; these are people who are below the age of fifty years. The following population structure portrays this fact;

Changing world trends- today the world is changing into a global village where more and more companies are trading with each other internationally. Signatures are now made electronically, though advertisement as well as marketing. This calls for managers and executives to be armed with a laptop at any one particular time so as they can conduct their businesses well. The need for laptops thus increases with time.

The world today is crying following the effects that global warming has on the economies. So far nothing has been implemented to tap the benefits that can accrue from global warming, use of sunlight for charging is one of the ways that can be derived from global warming. This however does not mean that global warming should be encouraged.

Market Analysis and Feasibility

Identification of Customer

A customer is the backbone of a company; the main decision that a marketing manager should make is on a companys market segment. A market segment is a homogenous subset of the main market, which share similar characteristics, which make it demand similar goods. A segment is also stimulated by similar innovations. After developing a marketing segment the next step is to develop mechanisms that will enable him sell in the target market.

One of the ways to enter in the target market is marketing mix. In our case the target customers will be executives, managers, and business people for a start but the segment will be extended to general population.

To reach the market the marketing team will employ a customer relation trading where they are likely to approach potential customers and introduce their products. The company appreciates that the success of the products is based on the quality given by the products, thus the aim will be to make the product of as high quality as possible.

Value Proposition and Compelling Need to Buy

The positioning statement with be, Solar laptops, for all your daily needs.

Pricing Strategy

The price of a commodity is an element of total cost plus a profit margin. When a target market has been established, there is need to determine the price that the target customer will afford comfortably. A marketer should be aware of the consumer trends and their potential.

The social class that the product is targeted will influence the price of the products. The price parameter can be approached from the actual product price or the possibility that the product can be divided into smaller parts, not necessarily cheap, but the need for this is to enhance affordability. From a broader point of view the market can be divided into three sections; the high class, the middle class, and the lower class. The product target customer will be executives and corporate bodies.

Competitive Analysis  market forces (Porter 5 Forces) and competitor comparison

Porters Five Forces Strategy Analysis

In 1980, Porter developed a structure for analyzing the nature and extent of competition within an industry. His argument was that, in every industry, there are at least five competitive forces which establish the nature of competition within that industry. These five forces are discussed below:

Buyers Bargaining Power

Buyers have the ability to determine which products will move first and which will not. It is through buyers that a company realizes its competitive advantage in the market. For a long time, buyers in Australia are using HP and Dell products. This is because of efficiency of these products. Customers are pushing the need for quality efficient goods.

Supplies Bargaining Power

The company needs to employ goods strategies to ensure that customers are aware of the existence of the products; it is by doing this that it can influence and enter the competitive laptop business. When quality products are well known by the customers, they are likely to be more accepted. Sales team should ensure that it makes the best targets and market segmentation.

Competitive Rivalry in the industry

Within an industry, there are businesses which compete with one another for the available market share. These businesses either specialize in the production of similar products or differentiated products. In laptops, there are a number of international companies who specialize in their production; they include Dell, HP, and Toshiba among others. One of the ways of ensuring that the company enters the market is to offer something different from what these competitors are offering this will be solar charged laptops.

Threat of New Entrants

The threat of new entrants to an industry such as the electronic depends on the number of entry barriers available. The higher the entry barriers, the fewer the number of competitors will be in the industry. These barriers include: capital costs of entry, legal constraints; access to distributing channels among others.

Threat of Substitutes

A substitute product is a product that meets the same needs as those met by a product produced by the industry. The extent of the threat from a particular substitute will depend upon two factors; namely, willingness of buyers to switch to substitute products and the degree to which the value and performance of the substitute can compete with the industrys product (Duening, Hisrich & Lechter, 2009).

Technical Feasibility

Product or Service Design, Production and Distribution

The laptop will not take a particular special shape than others although it is expected to have a chip on the front after opening it that will be the charging system.

Distribution Channels and Logistics

When a company is developing a product, there is a need that the product is supposed to fulfill. The trend that the customers follow at one given point is a change to the product that gives them a higher utility. When the product is developed, the team should always invest in offering something extra to the consumer.

In computers development there is need to give specifications that it has over and above the ones existing in the market. If the target customers are aware of the component, the campaigns should target the customers with a lot of emphasis with the components used. On the other hand, if the customers are not much interested in the components, the focus should be the outcome that the product will give.

The marketing campaigns should explain to the customer what benefit he will derive from using the new developed laptops than the others. What does the target customers expect, what are they likely to be moved by? What is the age of the target customer?

Effort should be made to ensure that the product is portrayed to give the impression of superiority. The language on the product packaging should be targeted at the desired group age. If the prices have reduced and are lower than the market prices, it is important to include them on the package.

In all the marketing of the products whether they are target to the high class, middle class, low class, the old and the youth, the marketer should assure the customers of the availability of the products at all times. Understanding the target market segment cannot be overlooked (Antil, 2008).

Operations plan

Execution Feasibility

Sustainable Competitive Advantage

To have a long lasting competitive advantage, the company will continuously improve the quality of its products. There will be research and development team which will be mandated with the task of advising the company on the developments that require making. All policies developed will be aimed at satisfying the customer and will be responsive to customers need.

Financial Feasibility

Projected Income, Start-Up and Operational Costs

The income of the company is expected to come from the sale of laptops, there will be also repairs section that will offer after sales service and also will offer repairs to external customers with both solar laptops and electric charged laptops;

Starting Capital, is the amount required to put up the facility in operation. When making the initial budget, there is need to consider costs that are incurred before the company breaks even;

The following is the projected incomes and operational cost for the initial year;

Operational cost include costs that are incurred in normal operation of the business, they include depreciation, electricity, medical expenses, and transport. This amount includes all expenses except salaries and distribution expenses.

Capital budgeting is ensuring that the finances available for various long term developments are utilized in the most efficient way. In our case we have a budget of $ 300million that should be used to establish a medical facility. This money can be divided into two

1. Capital good purchase.
2. Operational expenses.

Break-even, Cash Projections and Return on Investment

Break even, is the point where a business expenses and income gotten from a business is equal; at this point revenue derived from a business is equal to costs incurred in production

At Breakeven point then

Cost = revenue

That is Revenue  Cost =zero

Profits are only realized when revenue exceeds cost.

It is expected that from the second year, the company will surpass its costs. This is the time that profits will be realized. Cash projections for the next five years is as follows.

The projected cash flow is expected to increase with increase in sales as well as efficiency. There will be increased campaigns to ensure that there is awareness and derive a competitive advantage.

Resource Plan and Time Schedules

The finances to start the business will come from a loan facility that will be procured from standard chartered bank. In the loan policy there is a six months grace period and the loan term is three years.

Time Schedules

Starting up a new business is taking a risk; however if the decision is well thought there are numerous benefits that come up with investing in business. Before one set to start there are short and long terms parameters that he should consider to ensure that there will be continuity in the business.

The future is unpredictable and so even the smallest details about something should be interpolated before starting up. From the above study; it has come clear to me that entrepreneurship is all about how well one can understand the future and plan on it. It involves a process of analyzing risks associated in a certain area and working in full recognition of their presence. All mitigation factors should be put in place before the business is started (Ebbena & Johnson, 2006).

Activities will fall in a chronological way where there will be what to be done first and what follows. The first thing is to seek for location of the factory; we aim to have a different place for the factory and for displaying things. On the other hand, our sales team will be busy distributing the goods to various markets all over the world.

When all infrastructures are set, then the next step is to start operating. Operating will start when all staffs are set aboard. It will be appreciated that a company with properly shaped psychological contracts embraces a system that allows employees to air their views to the higher leadership.

A company requires both physical and human resources for its operations. Human resources are the greatest asset that an organization can have; without it no business transaction can take place. It ensures that the business is run in the right way, and thus determines the current as well as the future state of the business.

Great leaders or managers are those that can combine available strengths and weaknesses for the good of the organization. How well the human resources are sourced, developed, and retained in the organization is the work of management (Avery, 2004).

Key Risks and Mitigation Strategies

This is the uncertainty on to whether the kind of business that the company has engaged in will be of success. This is in both existing business (when they want to extend their business to other areas) and a start up business. When investing in some kind of a business there is the initial and subsequent running expenses.

In a business environment the proceeds from the business should cover all this and there remain a portion that is the profit of the investor. This is not always the case and one may invest and then only losses are accruing from the investment; the risk that the firm will have to undertake is that of possibility that the business leads into a loss. On the other side, this is a normal situation that must be faced in business. The most important thing is to do a good study of the market situation before you invest.

Risk Mitigation Strategies

Risk Transfer

This is the transfer of risk to an insurance body. The contract provides that in consideration of a certain periodically paid premium then the insurance will mitigate the client. It works in a way that the businessman remains at the original position before the loss occurred. The amount of premium paid is proportional to the possibility of a loss and the value of the loss.

However, it is important to realize that the risk holder is the insured but the insurance company only comes in as a litigator of the loss. There are those properties that by law are required to be insured. This includes motor vehicles. There is a risk that can be associated with this method of mitigating loss; this is when the insuring company cannot be relied upon.

There are some insurance companies that assume risks that they cannot handle. To avoid this, a company should ensure that it engages into an insurance contract with a company with good financial strength. Another way that this can be done is by insuring the same risk with more than one insurance company (Borodzicz, 2005).

Exit Strategy (if appropriate)

It is not always the case that a business set up will be successful, there are times that it may fail; when starting a business this should be taken into consideration. Business dynamics cannot be predicted with a 100% certainty. If the trend fails to favor a business, then the business is more likely not to meet its obligation. It may be a failure in the market, change of fashion, calamities or negative goodwill created; they may hinder continuity of a business (Shane, 2003). To cater for this eventuality there is need to have an exit plan. Mitigating any loss that is likely to result from loss of business is one of the common ways to have an exit strategy that will not hurt the entrepreneur.

Concluding Recommendation

Laptops are gadgets whose use is on the rise in the recent changing world of technology. They use electric power to operate; solar energy is freely available energy source which can be tapped to charge laptops. This is a new invention that has not been implemented in the world.

A customer is the backbone of a company; the main decision that a marketing manager should make is on a companys market segment. One of the ways to enter in the target market is marketing mix. The 4Ps represent Price, product/service, promotion, and place. The aim of the marketing mix is that for effective marketing then products should be available to the target customer at the right price and the right place.

Reference List

Anctil, E. 2008, Marketing and Advertising the Intangible. ASHE Higher Education Report, 34(2), 31-47. Retrieved from Academic Search Complete database.

Australian Bureau of Statistics. 2010, Australias Population Web.

Avery, G. C. 2004, Understanding leadership: Paradigms and cases. London: SAGE Publications.

Borodzicz, E. 2005. Risk, Crisis and Security Management. New York: Wiley.

Duening, N., Hisrich, D., Lechter, A. 2009, Technology Entrepreneurship. New York, Academic Press.

Ebbena, J.; Johnson, A. 2006, Bootstrapping in small firms: An empirical analysis of change over time, Journal of Business Venturing, Volume 21, Issue 6, Pages 851-865.

Livingston, J. 2008, Founders at work: stories of startups early days, Berkeley, CA: Apress; New York.

Shane, S. 2003, A General Theory of Entrepreneurship: the Individual-Opportunity Nexus. New York, Edward Elgar.

U.S. Department of Energy n. d, Energy Sources. Washington, DC 20585. Web.

United Nations 1998, Australian Bureau of Statistics Web.

Introduction

Human beings are social animals and once they have met their physiological and safety needs, they develop a great desire to meet their social needs. The reason behind this is that they develop a need to interact with others including friends who give them a sense of belonging (Maslow, 2002). This paper looks at communication as a social need and how technological inventions have addressed it over time.

Notable inventions and innovations in communication

The social process would never be complete without communication, which plays a fundamental role in all social interactions. It is indeed a basic need that influences the information society and has come a long way technologically to where it is now. Going back to the history of communication, it is amazing what inventions have done. The prehistoric means of communication included the use of horns and drums to pass information from one person to another. A Roman Emperor by the name of Tiberius made a debut in verbal communication by inventing a heliograph in the 37AD. This method involved the use of mirrors to deliver messages from one location to another.

In 1793, Claude Chappe invented a telegraph line that could be used to deliver messages over a long distance. Charles Wheatstone invented a microphone in 1821, a gadget that could reproduce sound and it was composed of a primitive soundbox. The first-ever electric telegraph was discovered in 1831 by Joseph Henry and this was followed closely by a modification done by Samuel Morse in 1843. This electric telegraph could send telegraphic messages over a long distance. The fax machine was invented by Alexander Bain in the same year (Bellis, 1997).

The Pony Express was birthed in 1861 in the US with the primary goal of delivering mail and in the same breath, Coleman Sellers invented a Kinematoscope. This machine had the capability of flashing still images on a screen. The modern typewriter saw its way into the inventions doing their rounds in communication in 1867 in America. Thomas Edison invented a mimeograph in 1876, it acted as an office copier, and around the same time, Alexander Graham Bell invented the telephone. Bell was able to transmit vocal sounds from one point to another and this is what came to be widely known as the telephone.

The phonograph that is a recording tool was invented in 1877 by Thomas Edison who used a wax cylinder to carry out this task. High-speed photography came to be in the same year courtesy of Edward Muybridge who was able to capture fast pictures in motion. The gramophone was invented in 1887 by Emile Berliner and its work was to record messages that would be played repeatedly. The Kodak film camera was invented in 1888 by George Eastman and in 1889; an automatic telephone exchange was invented by one Almon Strowger. New inventions and innovations on existing ones continued being experienced and in 1894, wireless telegraphy had been greatly improved by Guglielmo Marconi.

The first-ever answering machines for telephones made a debut in 1898 and 1899, people were now able to store data courtesy of Valdemar Poulsen. He invented magnetic recordings that could capture messages for later use. Through this medium, music and other forms of data could be recorded on tapes and disks. The same year saw the inventions of loudspeakers that magnified recorded and live sounds. Guglielmo Marconi made another key invention that enabled the transmission of radio signals across the Atlantic Ocean. Comic books were invented in 1904 and they became a regular series. The radio and the telephone amplifications got better in 1906 courtesy of Lee Deforest who invented an electronic amplifying tube.

In 1910, Thomas Edison invented the very first talking motion picture and in 1914 saw the first telephone calls that could be received across the continent. An iconoscope found its way into the communications scene courtesy of one Vladimir Kosma in 1923. Several inventions happened in 1927 when CBS was founded and England received the first-ever television broadcast. In addition, two radio networks were started by NBC, and The Jazz Singer talking motion picture was released by Warner Brothers. The United States received its first television broadcast in 1930 and the same year saw radio grow to great lengths (Bellis, 1997).

Around this time, people were only able to watch live television broadcasts but in 1938, taping and editing of these broadcasts were made possible and people were able to watch scheduled broadcasts by1939. Information Science was birthed in 1944 when computers came into use in the public service. Computers such as the Harvard Mark I were used in government offices. A transistor was invented in 1948 and records that could play for longer were invented in the same year. In 1951, computers were sold for commercial purposes, photocopiers debuted in 1958 courtesy of Chester Carlson, and integrated circuits were invented. The internet era was not too far from here and in 1969, the first internet, known as ARPANET was started.

The computer floppy disks and the microprocessor were invented in 1971. Pay-TV service was invented by HBO in 1972 and 1976, the home computer by Apple was invented. Mobile phones were first used in Japan in 1979 and a Sony Walkman was invented in 1980. In 1981, the first-ever IBM personal computers as well as laptops were sold. The Time Magazine recognized computers as Man of the Year in 1983 and in the same year, the United States embraced the use of a cellular network. The Apple Macintosh was invented in 1984 and in 1985, cellular telephones could be used in cars and CD-ROMs in computers. In 1994, the American government sought internet control as the WWW converted communications to light speed (Bellis, 1997).

Communication Technology Timeline

Year Invention

1450 Daily newspaper
1455 Gutenberg printing press
1861 Pony Express mail delivery
1867 Typewriter
1877 High speed photography moving pictures
1888 Roll film camera
1889 Telephone
1898 Answering machine
1904 Comic book
1910 Talking motion pictures
1923 Television
1944 Government use of computers
(Age of information science begins)
1945 0% televisions in households
1951 First commercial computer
1954 MIT introduces computer graphics
1966 Fax machine
1969 ARPNET first internet
1970 95% television household penetration
1972 Pong video game
1974 Intel First computer chip
1975 Microsoft
1976 Apple II
1979 Pac man video (Japan)
1979 Cell phone network (Japan)
1980 Microsoft DOS operating system
1980 Sony Walkman
1981 IBM PC
1981 Computer mouse
1983 Cell phone network (USA)
1983 Time Magazine names computer as Man of the Year
1984 Macintosh
1985 Microsoft 1
1991 World Wide Web begins
1994 First Blog
1995 AOL, CompuServe, Prodigy dialup internet service
1995 Amazon.com
1995 eBay
1997 blog term coined
1999 Google
1999 MySpace
2001 Wikipedia
2002 Flicker
2003 Second Life
2004 Face Book
2005 YouTube (Trent, 2009).

Future of communication

Researchers are still at work developing devices that will make a mark in future communication devices. The trends are becoming more complex with time and we can only look forward to a telecommunications wonderland full of possibilities. As inventions and innovations continue in the science world, we are looking at smaller and more functional cell phones that can be used even on planes, high broadband speeds, and seamless Wi-Fi networks among others. In addition, we are looking at ultimate efficiency, ease of use, affordability, and availability of these gadgets to more users. The future of the communications industry will therefore be one flooded with wireless data pipelines that will be at everyones disposal (Derene, 2011).

How these technological inventions have shaped modern society

Conclusion

Technological inventions in communication have brought about a great impact and it is hard to imagine life without computers, the internet, and cell phones among others. Communication has been made easier and people are now able to send and receive messages instantly anywhere in the globe. This has been attributed to the growth of world economies since business transactions and interactions have been made much easier (Day, 2001). With these massive transformations, we can only expect mind-blowing technological transformations in the near future.

References

Bellis, M. (1997).The history of communication. Communication Inventions Journal, 4(1), 1-13.

Day, R.E. (2001). The modern invention of information: Discourse, History, and Power. USA: Library of Congress Publication Data.

Derene, G. (2011). Coolest communication devices of the future. Forbes Communications, 1(2), 1-4.

Maslow, A. (2002). Maslows Hierarchy of needs. Internet Center for Management and Business Administration Inc, 6(1), 2.

Trent, C. (2009). Communication Technology Timeline. Web.

Entrepreneurs are frequently regarded as innovators due to current competitive conditions that force them to be creative. Due to globalization, people in business introduce new products, services, and methods of production (Eurich, Weiblen, & Breitenmoser, 2014). They search for new sources of supply and re-organize the whole industries to be commercially viable. Entrepreneurs collect new ideas, they are motivated by arising problems and look for innovative solutions (Tynnhammar, 2019).

They borrow existent ideas and update them to create new services and goods. The process of innovation has six steps of problem-solving  problem observation, problem definition, idea generation, idea synthesis, idea evaluation, and solution implementation. This work describes the process of the innovation idea development by the author, who searches for a product that will solve the problem with organization and peoples self-discipline.

Problem Observation

The process of innovation and problem solving is impossible without the definition of a problem. This process requires the direct and indirect observation of consumers and production processes. Entrepreneurs analyze peoples demands, wishes, complaints, and even dreams concerning the products that may enhance the quality of life and solve specific problems (Euchner & Ganguly, 2015). The investigation of production processes identifies their strong and weak, pain, points that need to be improved.

Three problems of everyday life are identified and explored via indirect and direct intelligence. Indirect observation is a non-engaging way of market and public opinion analysis. For indirect intelligence observation, the author of this research chose forums, social media groups, online surveys, and blogs where people share their opinions concerning innovative products they would like to have. For direct intelligence observation, the author initiated discussions by putting questions in online questionnaires concerning everyday problems, and people suggested potential solutions.

The first everyday problem detected by the author is the transport problem. Public transport frequently is slow and not comfortably accessible in all locations, automobiles negatively influence the environment, and their quantity disturbs a significant number of community members. Travelling still remains unobtainable for many people due to ticket expensiveness. Through direct and indirect intelligence observation, it was found out that the authors dissatisfaction and unmet needs concerning transportation are common for the majority of people to a greater or lesser degree.

They actively discuss what inventions in this sphere they would like to see and what measures may be assumed to solve the problem of transport cost-inefficiency, pollution, or inaccessibility. Internet users frequently propose high-speed trains within cities, the use of emission filters for vehicles for environment safety, individual or public underground parking places, or underground road nets for more free spaces. A prevalent number of online discussions participants dream about flying automobiles and teleportation in the future.

The second problem that the author would like to solve and make everyday life more comfortable is the issue of reproduction. The majority of people need innovative products that will save and transmit images, melodies, text, or smells. In discussions, they describe computers that may translate not only images and sounds but smells as well, and pens that will be able to copy a hand-written text in an electronic format. They mention electronic products that will save texts, music, and pictures in a computer system directly from a persons mind or transmit textbooks into the mind to learn while sleeping. Other desired innovations include an artificial LED window, a mirror with the PrintScreen function, and an unconceivable food printer.

The third problem is a lack of self-discipline and organization. A substantial number of people do not know how to organize their time or create an order in a wardrobe. They frequently forget keys at home, drink more alcohol or spend more money than they expected. Internet users would like to have more products that will help them to establish control in all spheres of their life. They describe artificially intelligent devices that help them to plan their activities or finances and search all essential information.

Problem Definition

After the investigation of customers unmet desires and weak points in products and production processes, it is highly essential to define the problem and determine the problems potential root causes. The innovators should identify not only what or who is a cause but why, where, and when the problem appears as well. The problem selected by this works author is a lack of peoples self-discipline and organization.

A large number of people all over the world, regardless of their age, gender, ethnicity, location, and socioeconomic status, currently cannot effectively control their time, finances, or state due to individual characteristics, busyness, or stress. This statement gives answers to the elements that provide the problems root causes  who (people), what (they experience a lack of self-control), why (individuality, busyness, stress), where (worldwide), and when (at the present day). The entrepreneurs goal is to create a new product or modify an existing one that will help people with the organization of their time and space, remind them essential things, or control their expenditures.

Idea Generation

Any innovation is unfeasible without the generation of the problems all possible solutions. Creative, alternative, irrational, and even unrealistic ideas should be taken into consideration, as multiple variations suggest the best solutions (Vanwersch et al., 2016). For the organizational issue, the author has chosen the generation of ideas concerning various electronic products that may encourage users self-discipline. That is why possible solutions are:

• Mobile Secretary. Mobile Secretary is a smartphone program that will not only operate the device and search for information on the Internet but function as a real-life secretary. It will be able to place online orders, answer emails, monitor a schedule, record the users speech, and perform a complex search of data;
• Closet Organizer Application. It is a mobile application that saves the users time by recording all clothes in a wardrobe and automatically creating possible outfits according to the established parameters of color, season, and style;
• Smart Glass. Smart Glass is a glass with an embedded electronic system that will help to control the state of a user who drinks alcohol. It will save the number of drinks, identify their quality, give a signal when it is better to stop, and send the users coordinates to his or her relatives and friends;
• Smart Hand Weights. It may be an ideal invention for people who would like to organize their sporting activities. Hand Weights with an electronic system will control the users blood pressure and pulse rate, provide the set of exercises, and record the weight loss progress;
• Remote Lock System. This system will help people to open an apartment door if they forget the keys at home;
• Security Tile. It is a small electronic device that may be useful for distracted people who constantly lose their belongings. It may be attached to a bag and tracked through geolocation if a bag is missed;
• USB Flash Drive with Visible Storage. USB flash drives are highly widespread devices that are used by the majority of people worldwide. However, it is not possible to examine the drivers empty space without plugging it in a computer or notebook. A modified USB flash drive will have an external indicator of the drivers occupancy;
• Decision-Making Application. This mobile application that makes a random choice between several settled options may be useful for people who are not organized, suffer from stress, or want to avoid decision-making;
• Financial Planner. Financial Planner is a website or application that will contain information related to the users credit cards, loans, income, and expenditures;
• Electronic Purse. Electronic Purse will combine an ordinary wallet with advanced technologies for its owners financial control. A purse will be equipped with a screen and an electronic system that may identify the denomination. This system will be connected with bank accounts as well. Users will be able to control their finances as they will always see how much money they have, and set additional parameters of cash savings and spending on specific product groups.

Idea Synthesis

Idea synthesis is used to eliminate the implausible variants by organizing all proposed ideas into groups. At first, the author arranged all potential solutions into two groups according to its existence. Smart Hand Weights, Remote Lock System, Security Tile, Decision-Making Application, and Financial Planner are products that already exist or the devices with similar functions are invented, and they cannot be regarded as innovations. Hereafter, the author divided the rest of the products into two subgroups according to their universality. Closet Organizer Application and Smart Glass will be useful for a limited number of people; the majority of men and humans who do not drink alcohol will not be interested in these products purchase.

Mobile Secretary is a program that theoretically will be developed and implemented in the future by international mobile giants such as Apple and Samsung as their devices are already equipped with helping programs. USB Flash Drive with Visible Storage may be a highly practical device, however, its updated function is not essential. That is why, through the evaluation of all potential ideas, Electronic Purse was chosen by the author as the most practical innovative product. It could be merged with Financial Planner and borrow some of its functions.

Idea Evaluation

The identified solution should be evaluated in detail according to tree criteria  the products feasibility, usability, and market opportunity. Electronic purse is the most feasible innovation among other proposed variants as it combines universality, accessibility, and originality. The technology of the implementation of electronic systems in the articles of daily use is already developed, however, Electronic Purse will be a highly-demanded device. Its production is potential, and it will be able to fill the market gap as it does not have alternatives, and entrepreneurs will not face competition. Moreover, this innovation is highly multi-faceted as it will be useful for a prevalent number of adults worldwide. Although people earn and spend money, they frequently have problems with self-discipline concerning spending.

Occasionally, they cannot control their finances as they do not have a visual demonstration of the amount of money they have. With the help of Electronic purse, they will always see their cash resources, bank deposit money, and incomes. They will be able to control spending on food, entertainment, or clothes as well. The system of the purse will be connected with a bank and block the credit card if it is missed or stolen.

Solution Implementation

The organization of the production process will be more reasonable if Electronic Purse will be manufactured in collaboration with companies that provide technologies and electronic systems. The solution is challenging due to the system complexity that should be implemented in a small unit, and this peculiarity may negatively influence the devices price, making it less affordable for a large number of customers. Nevertheless, an appropriate advertising campaign in social media and an open pre-order will solve this problem.

Conclusion

The author of this work has developed a market-pull innovation idea with the use of the six-step process model. Three everyday problems were identified and explored via indirect and direct intelligence  transport problem the issue of reproduction, and a lack of self-discipline and organization. For indirect intelligence observation, the author of this research chose forums, social media groups, online surveys, and blogs where people share their opinions concerning innovative products they would like to have. For direct intelligence observation, the author initiated discussions by putting questions in online questionnaires concerning everyday problems, and people suggested potential solutions.

The problem selected for this work is a lack of peoples self-discipline and organization. A large number of people all over the world, regardless of their age, gender, ethnicity, location, and socioeconomic status, currently cannot effectively control their time, finances, or state due to individual characteristics, busyness, or stress. For the solution of this problem, ten variants were proposed and evaluated according to its originality, universality, and accessibility.

Electronic Purse was chosen as the most feasible innovation among other proposed variants as it combines universality, accessibility, and originality. It will be equipped with an electronic system connected with bank accounts that help customers to control their finances. Regardless of the devices potential high price, Electronic Purse will be appreciated by a prevalent number of people.

References

Euchner, J., & Ganguly, A. (2015). Business model innovation in practice. Research-Technology Management, 57(6), 33-39.

Eurich, M., Weiblen, T., & Breitenmoser, P. (2014). A six-step approach to business model innovation. International Journal of Entrepreneurship and Innovation Management, 18(4), 330-348.

Tynnhammar, M. (Ed.). (2019). New waves in innovation management research. Wilmington, DE: Vernon Press.

Vanwersch, R. J. B., Shahzad, K., Vanderfeesten, I., Vanhaecht, K., Grefen, P., Pintelon, L.,& Reijers, H. A. (2016). A critical evaluation and framework of business process improvement methods. Business & Information Systems Engineering, 58(1), 43-53. Web.

Introduction

Innovation is essential to the success of many modern companies, especially those that operate in highly competitive markets. Technological innovation, in particular, is the primary reason behind the rapid growth of humankinds capabilities throughout the 20th century. As such, knowledge of the patterns for the creation and adoption of new ideas is essential for both company managers and researchers. This essay investigates the primary frameworks in modern technological innovation.

Types of Innovation

Innovation can be differentiated based on its applicability and overall influence on the technological field. Shmerling (2013) distinguishes two primary types based on these parameters: evolutionary and revolutionary advancement.

The former takes existing technology and improves its parameters, such as performance or production cost. The latter introduces a new approach that is generally incompatible with current products but has the potential to outperform them, making investment an attractive proposition in the long term. Both are essential to technological advancement, as one allows an approach to reach its limits while the other introduces concepts that enable new products to exceed those limitations.

The two categories combine to form the overall tendency of technological progress. When a new technology is introduced, it will typically lack the refinement necessary to outperform older approaches comprehensively. Therefore, it will have to capitalize on its existing advantages while research is in progress. The improvements will eventually increase the innovations capabilities to a point where the other approach will become obsolete and disappear from the market. However, there is an upper limit to the potential of the new technology, as well. As such, once the now-mainstream product achieves its best possible performance, it will stagnate until another revolutionary idea grows to a point where it can replace the now-obsolete method.

Main Innovation Patterns

The advent of the Internet and the global interconnectivity associated with it have introduced a variety of innovation patterns based on the massive amounts of information and processing power available. Powell, Gann, and Guo (2015) distinguish five primary types: product augmentation, technology disappearance, cooperation between companies, data trading, and turning internal routines into marketable products. While it should be noted that some of these approaches might not apply to every technological field, they provide a comprehensive overview of the IT industry.

Product augmentation is synonymous to evolutionary advancement, involving the collection of new data and performance improvements. Technology disappearance, in turn, reflects revolutionary progress and the phasing out of obsolete ideas. Cooperation between companies enables the creation of benefits based on the synergies between different products without significant improvements to the processes.

Data trading is mostly endemic to the field of big data, where enterprises can sell each other data in a raw or analyzed fashion with both participants benefitting as a result. Lastly, large companies typically create products for internal use that simplify or automate tedious or complicated routines, and at times these tools can be of interest to consumers after polish and reorientation are applied.

Conclusion

Technological innovation is central to the rapid advancement of humanitys capabilities. Traditional types of progress include evolutionary and revolutionary improvements, which form the standard technology life cycle. However, modern technologies such as the Internet allow for considerably closer and easier cooperation between diverse and distant companies. As such, new patterns, such as cooperation, data trading, and transformation of internal tools into products, have come into existence. It is possible that further changes in the field will introduce new opportunities for innovation, and so businesses should stay at the forefront of progress to succeed.

References

Powell, J., Gann, D., & Guo, Y. (2015). TechVision: New patterns of innovation in the era of Big Data [Video File]. Web.

Shmerling, S. (2013). 03 Types and patterns of innovation [Video File]. Web.