TWC Session 3 (Week 3)

 Figure 1. Gemasolar Thermosolar Plant in Fuentes de Andalucía, Spain
 Reproduced from Clean Energy World News. (31 August, 2012)

Brief Overview/Summary

We started off with a review of session 2 which Prof. mentioned in that session we learnt how to maximize human development.
First part of the class, we discussed what is sustainable development, and it means maximizing current resources for development while not limiting the resources for the future generations.

- Sustainable Development refers to a mode of human development in which resource use aims to meet human needs while ensuring the sustainability of natural systems and the environment, so that these needs can be met not only in the present, but also for generations to come. [Retrieved from http://en.wikipedia.org/wiki/Sustainable_development]

We looked into the effects of linear industrialization and over the years, it stresses then over-stress the homeostatic mechanism of the Earth [Interesting hypothesis at http://tellusa.net/index.php/tellusa/article/view/9731]. And Prof. illustrated to us that if everyone is consuming the same amount of natural resources as USA, we will need around 4-5 planets to support this and that 20% of the world's populations is already using 80% of the world's resources. Hence, the way forward is to move from "linear" to "cyclical" way or moving towards sustainability, which is illustrated in Video 1 and Reading 1 of this session.

From Reading 2, we look into the concept of advantage of backwardness which means the advantages of entering the market late. For example, South Africa is going to be the fastest growing economy in the world.

We ended the first part of the session with 3 presentations from our peers, and I thought Jolene's presentation on the Venus Project was very interesting, that actually there are people out there aware of the importance of sustainability, perhaps Jacque Fresco knowingly or unknowingly increased the awareness of sustainability.

In session 3B, we covered technology and innovation management, that the Innovation Creation Pipeline works on everything. We learnt that there is 90% failure rate at the Concept Stage and that only 10% succeeded in their innovation.

Prof. Shahi's Landscape Model was introduced which I will be sharing in the later part of the post.

We were introduced to the RDA Translation Process, which I will be sharing later. We also discussed whether innovation should be market or technology-driven and Prof. gave an example that for a poor entrepreneur, he will usually create market-driven products so as to earn as much as possible; and for rich or established company, they will create a new product which creates a new market for it, for example, the iPhone and Walkman. Lastly, we discussed the 4Smarts- Smart Ideas, Smart People, Smart Money and Smart Partnerships to a successful innovation, that we should invest in a new company or new products early because it is cheap and if it succeeds, we stand to gain.

Finally, we ended the class with the last 2 presentations, 

• For the 1st presentation by Michael, my thoughts on first question were, even though technology gadgets are slowly becoming homogenous which I also agree, people will still buy them because of the brand and it brings about the cool factor and "I am in the upper class" status, also having new gadgets shows that you're not obsolete therefore the market will still be there.

• For the 2nd presentation by Kartika, I think Singaporeans are not creative and innovative is because the Government is very practical, for example Hyflux could succeed because water is a greater issue (market-driven) in natural resource scarce Singapore and could make a greater impact than Creative inventing an MP3 player at that point of time.

Lastly, regarding a small debate on Solar Power, after research, the figures below shows that Solar Power or specifically Photovoltaics Power is growing because the manufacturing prices is dropping.

[Retrieved from http://reneweconomy.com.au/2013/graph-of-the-day-the-plunging-cost-of-solar-pv-41843]

Interesting Observations and Ideas

• The concept of advantages of backwardness on how 3rd world nations are actually emerging and soon will be on the super-fast track of rapid growth.

• I created a diagram below of Prof. Shahi's Landscape Model, 

• RDA Translation Process, which I agree to Prof. Arai's comparisons, that Research is a dream -> Development is a nightmare because I feel that it is really a pain to find investors , drawing up proposals to convince them and the importance on how do you market them, this is also where most people fail in their products -> Application to reality.

Key Take Away Points

• Importance of moving from a "linear" business model of industrialization to a "cyclical"model in order for both economic and environmental well-being.

• Importance of sustainable development in the modern world.

• If you just started a new company, start from a marker-driven product (be innovative on them) then when you established your company, you can start projects for the future (doing something else) in order to stay ahead and be at the summit.

• Invest in a new start-up and new products early because it is cheap, when it succeed, you'll stand to gain.

Issues for Further Discussion

• Why South Africa and also other emerging nations are succeeding from the concept of advantage of backwardness.

Personal Ratings for Session

I rate this session 9/10 because we had a small debate in the class which made more people speak up (and I must start to share my thoughts too!), however I feel that we should have discussed more on the concept introduced in the Reading 2.