Key Drivers for Society's Innovation in the Future – Essay Example
The paper “Key Drivers for Society's Innovation in the Future" is a fascinating example of an essay on social science. The drivers for change in the next decade will depend on the following. Technology is something that will shape the future in the next decade. It has been a major factor for the last decade with Smartphone and other tools like the tablet and iPod. This will affect the change in technology how many people will be impressed and how many will change. They will vary and will depend on different things for them to be successful. The growth of the middle class will contribute to the need for innovation this is because they will need to find other basic needs and to fulfill. This will bring out the best point for them to be able to expand the market and also increase their market share for their growth and the future of business. The next important driver of business will also depend on the investment the government records for research and development. R&D is a very important aspect as it determines what the business will focus on and what are the positives and demerits of any factor of production. With this in mind, the focus on research and development will identify other cheaper methods of production.
The future is not predictable but there are key points that can be able to be predicted. The population growth will matter countries with high population will tend to attract more innovators than the one in decline. For example countries like China and India will attract more people than the rest of the world this will influence more farms in searching for the best attracting destination.
There is also the aspect of finance for success to grow the financial aspect is important as this is what really helps in the innovation of the people doing business. Developed companies have an advantage than other developing countries. Having some funds to blow this will help in innovation. There is the urge to sponsor other teams to do it.
The population will be a key significant driver for innovation in the next decade as more countries will invest in its people to achieve its organizational goal.
2) Among all the drivers, I have talked about the issue of finance is more important and holds a lot of weight. The reason why it is important is that without finance there will be no research and development and this will also hinder the growth of opportunities that will lead to generating many solutions facing the world. The challenges of this are that with enough finance there is a chance to understand.
Research and development are important but it is not a must for as long as companies are doing what they would like and the government ensures a conducive environment the growth of any business is inevitable. This is where good companies will nurture their employees and also lead to a lot of exposure for the business to invest. Any investor will admire a company that invests in the future of its business. It is forth is a reason that there is a need to communicate with every other key stakeholder as for employees this will boost their morale and this will lead to better performance to each and everyone in the organization.
The end result does matter as it is something that takes a while to be achieved. The positive effect of innovation is that it makes work easier and helps in the growth of the business. The fishbone diagram reflects on what’s needs to be done and the ripple effect at the end of all the plans. Innovation is something that offers a wide scope and not a single event this is why the scope of the product is important and can help in the process of the whole business.
Key Drivers 1 - Results
Growth of middle-class Demand
Research and Development Innovation
Having the growth of middle class will bring about excessive cash which will make it possible for people to spend. Economies with enough finance will make it possible for innovation be able to have enough capital for marketing and promotion in the next ten years. Countries or economies that invest in research and development will get chances and will see more opportunities than the country that do not invest it. The need for change will create more opportunities for people as there will be more options for investment.
Countries with more population will have enough labor which will be a benefit to society. Innovation will lead to the solution to more opportunities in the future. The challenges are inevitable and for us to grow there has to be a clear plan for the growth of the business. The bottlenecks need to be solved in a professional manner as they will always occur but the notable point is to avoid them recurring which slows down the progress. Therefore futures exercise holds key importance in solving the challenges ahead.