We discussed Industrial Development Toward Sustainability in Session 3a and how society today is shifting from a 'linear' to a 'cyclical' model. A 'linear' model is one that brings about the idea of economic well-being at the cost of the environment. As sustainability becomes more of an issue, we see the shift to a 'cyclical' model which promotes both economic and environmental well-being. In Session 3b, Innovation Management was discussed. The main focus was the translation process from research to development and eventually the application of a certain product.
A 'cyclical' model is what businesses should adopt today. I feel with the size that corporations have grown to, their actions would have a very significant impact on the environment and the welfare of society as well. This brings about the point of Corporate Social Responsibility (CSR). Corporations should in fact aim to maximize profits as well as handle the social and environmental issues that arise with it. As pointed out by Dr. Shahi, “a 'cyclical' business driven by sustainability presents an opportunity for innovation, growth and value creation”.
The topic “The Peak Oil Crisis: Sustainability” was presented to us by Hui Min. He elaborated on the problems that we would face in the future due to the shortages of oil and how we should look shift to renewable energy sources sooner than later. I agree that in theory, a renewable energy alternative does seem to be the solution. However the practicality of it seems to be the question. Harnessing solar energy or wind energy for example, requires a large amount of land as well as funds to construct the facilities needed. Biofuels seem to be best 'renewable' replacement for fossil fuels as they are easy for people and businessmen to transition to without special apparatus or a change in vehicle or home infrastructure1. Biofuels also do not emit greenhouse gases which would limit pollution. However the problem of efficiency still remains and whether the production of biofuels would be able to completely replace fossil fuels and supply the world with the needed energy. My take on this is that more of such renewable energy sources should be utilized to ease the demand and dependency on fossil fuels. I do not see such energy sources completely replacing fossil fuels in the future.
The point of biofuels I felt could have been discussed more in class as it could be a more viable alternative energy source as compared to solar and wind energy.
Personal Rating 8/10
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