Technological & Management Innovation as Partners for Economic Growth
With continuing global economic growth, challenges to the protection of the environment will become increasingly more difficult to manage and implement. Economic growth affords opportunities for all countries to improve their standard of living. As this occurs, new and additional stresses are placed on the environment as it currently exists. Increasing pressure to stem local and global pollution impacts will be the responsibility of all countries. Current environmental control technologies and future control technological improvements will not be able to keep pace with increases in environmental emissions to the air, land, and waters. New generations of technologies and new approaches to the management of resources will be required to adequately stem the rising levels of pollution and the depletion of natural resources.
In order to develop and manage the resources and to control emissions, control technologies will be replaced by innovations in resource management technologies. Cleaner processes, substitute (green) chemicals, waste reuse/recycle, advances in energy systems, etc. will evolve which provide both financial and environmental benefits while preserving the natural resources.
In addition to technological innovation, advances in organizational development and the management of human resources must occur. Focuses on quality, the customer, global objectives, development of an empowered organization, and the transformation to a learning organization will be necessary. Without a strategy that encompasses both technological and management innovation, the necessary ingredients for global change in the improvement of the environment and management of natural resources will not occur.
This paper addresses both technological and managerial aspects that are necessary ingredients for innovation in the 21st century.
KeywordsForeign Direct Investment Competitive Advantage Management Innovation Business Strategy Competitive Strategy
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