Exam

Question 1

What is the impact of innovation on sustainable development?

Answer 1

1. Resource efficiency - help reduce the use of materials, energy, and other resources, examples include cloud computing and smart buildings
2. Renewable Energy - for example, smart grids and renewable energy marketplaces
   3.Smart cities: smart traffic managment systems and smart waste managment systems
3. Sustainable agriculture - precision farming and crop monitoring systems
4. Enviromental monitoring - remote sensing and data analytics

Question 2

What are the examples of innovation in the Global South?

Answer 2

1. Drones delivering vaccines in remote islands
2. Public schools moving from traditional classes to remote teaching with the help of radio

Question 3

What are the 4 industrial revolution?

Answer 3

1 revolution - follows introduction of water- and steam- powered machines manufacturing facilities
2 revolution - follows inroduction of electrically powered mass production based on the dividion of labour
3 revolution - uses electronics and IT to achieve further automation of manufacturing
4 revolution - based on cyber pshysical systems

Question 4

What is the “creative destruction” by Schumpeter?

Answer 4

Creative destruction refers to the process where new innovations replace outdated industries or technologies. This is a fundamental feature of capitalist economies where old structures are destroyed to make way for new ones, facilitating economic growth and development.
* Schumpeter argued that capitalism is dynamic and must continually evolve.
*With this evolution, significant changes occur, leading to new products, services, and methods of production that drive economic progress.

Question 5

What is the global commons?

Answer 5

The slide identifies high seas, cyber space, airspace, and atmosphere as common spaces governed globally. These are shared resources that do not belong to any one nation but are crucial for international cooperation and the flow of goods and people.
The objective is not ownership of these spaces but ensuring the efficient flow and communication across them.

Question 6

What is the theory between global commons and cyber space?

Answer 6

The creation of cyberspace as an artificial domain introduces new challenges - extend to competition in traditional domains such as air and land, indicating that cyberspace affects broader strategic and competitive dynamics.

the country which can effectively connect its goods to the market and leverage associated platforms (like cyberspace) will dominate the global economic structure. This underscores the importance of digital infrastructure and technological advancement in achieving economic leadership.

Question 7

What are the key characteristics of the 4th industrial revolution?

Answer 7

1. Velocity - Innovations are happening at an unprecedented speed. The pace of technological advancement and adoption is much faster compared to previous industrial revolutions.
   2.Breadth and Depth - The 4th Industrial Revolution is not about a single technology but the convergence of various technologies. These include advancements in fields such as artificial intelligence, robotics, biotechnology, nanotechnology, and more, which are being integrated and applied across different sectors.
2. Systems Impact - The impact of these innovations goes beyond individual technologies or industries. Entire systems, including economic, social, and political structures, are being transformed. This transformation affects how industries operate and how they interact with each other.

Question 8

What is digital economy?

Answer 8

the digital economy is primarily defined by the integration of new technologies that are merging physical, digital, and biological domains. This fusion is transforming all disciplines and industries, leading to profound changes in how businesses operate and compete.

Question 9

What are the disruptive technologies and what are the 12 key examples?

Answer 9

Disruptive technologies are innovations that significantly alter or disrupt established industries, markets, or processes. These technologies often create new markets and value networks, eventually displacing existing ones. Examples:
(1) Mobile phone; (2) advanced robotics (3) 3D printing (4) automation of knowledge work (5) The Internet of Things (IoT) (6) Cloud Technology (7) Autonomous and Near-Autonomous Vehicles (8) Next-Generation Genomics (9) Advanced Oil and Gas Exploration and Recovery (10) Advanced Materials (11) Energy Storage (12) Renewable Energy

Question 10

What are the key digital innovation challenges?

Answer 10

1. Technology is exponential, humans are not - Technological advancements are growing and improving faster and faster. However, human capabilities, including our ability to learn, adapt, and keep up with these changes, do not increase at the same pace. This disparity can lead to challenges in managing and effectively utilizing new technologies.
2. New economic model - The future economic landscape is increasingly focused on the ability to predict trends and exert power. Digital technologies allow for vast amounts of data to be collected and analyzed, leading to predictive models that can influence markets, consumer behavior, and economic outcomes
3. Behavioral data - The collection and analysis of behavioral data—information about how people act and make decisions—give entities (such as companies and governments) the power to understand and potentially control or influence behavior. This raises concerns about privacy, autonomy, and the ethical use of such data.
4. Risk to Governence - There are significant risks to effective governance in the digital age. Low levels of societal and political interest in critical issues, limited resources, and weak civil society institutions can lead to ineffective policy-making and implementation. Digital innovation can exacerbate these issues by creating new challenges that existing governance structures are not equipped to handle.
5. Identity - The digital era raises complex questions about identity. With increasing online presence and data collection, individuals’ personal information and identities can be exposed, manipulated, or misused. Issues of digital identity management, security, and privacy become paramount, impacting how individuals interact with technology and society.

Question 11

What is frugal innovation?

Answer 11

a type of innovation in which technological products are customized at low prices and high volumes in and for emerging markets

Question 12

What are the benefits of frugal innovation?

Answer 12

• targets customer’s hidden aspiration or unvoiced problems
• supports a move from a linear model to circular models of innovation
• builds on a collaborative approach to innovation
• is a complementary approach to traditional R&D

Question 13

What are the megatrends in industrial revolution 4?

Answer 13

1. Psysical - can be easily seen because they tangible (3D printing, autonomous vehicles, etc)
2. Biological - significant cost reduction, some of the trends are a combinaion of physical and digital (genome, synthetic biology)
3. Digital - (IoT, blockchain, platforms)

Question 14

What is M-pesa case?

Answer 14

addressing poverty and inequality through financial inclusion in a developing country (a mobile payments service)

Question 15

What are the pillars of the sustainability development and their concept?

Answer 15

The pillar diagram represents sustainability as a structure supported by three pillars—social, environmental, and economic. If one pillar is weak, the entire structure of sustainability is at risk. This underscores the importance of balancing all three aspects to achieve true sustainability.

Question 16

what drives economic growth?

Answer 16

labour+capital+production=economic growth

Question 17

What is a new growth theory?

Answer 17

Traditional economic theories often emphasize diminishing returns to capital and labor. However, New Growth Theory posits that knowledge and technological advancements can lead to increasing returns. This means that investments in research, education, and innovation can continuously enhance productivity and economic growth.

Question 18

How do history, institutions and geography shape knowledge-based economies?

Answer 18

1. History matters because increasing returns generate positive feedbacks that tend to cause economies to “lock in” to particular technologies and locations
2. Institutions matter because they shape the enviroment for the production and employment of new knowledge
3. Georgaphy matters because knowledge doesn’t move frictionlessly among economic actors. Important parts of knowledge are tacit, and embedded in the routine of individuals and organizations in different places

Question 19

What are the implications of increasing returns?

Answer 19

1. Opportunities for growth may be almost limitless - Unlike traditional factors of production, knowledge can be reused and built upon, leading to exponential growth opportunities.
2. Markets tend to under-invest in knowledge - knowledge has characteristics of a public good – it is non-rivalrous (one person’s use does not reduce its availability to others) and non-excludable (difficult to prevent others from using it)
3. Knowledge-based economies tend toward monopolistic competition - firms that innovate successfully can gain significant market power and competitive advantages, often leading to monopolistic or oligopolistic market structures. This is because they can differentiate their products and services through new knowledge and technology, creating barriers to entry for other firms

Question 20

What is the an inflection point?

Answer 20

the ability to see around corners involves identifying early signals of change, interpreting them correctly, and taking action quickly. This requires a combination of skills, including scanning the enviroment, making sense of data, and experimenting with new ideas

Question 21

what is the strategic inflection points?

Answer 21

there are six sources of strategic inflection points - industry shocks, competitive pressures, regulatory changes, demographic shifts, technological breakthroughs, and changes in customer behavior

Question 22

how to spot inflection points in business before they happen can contribute to economic growth?

Answer 22

1. encouraging innovation through invest in new technologies and ideas
2. anticipating and adapting to change
3. creating a culture of experimentation
4. leveraging data analytics

Question 23

What is a green revolution

Answer 23

The Green Revolution was a transformative period in agricultural history that introduced new technologies and high-yield crop varieties, leading to significant increases in food production. The movement began in Mexico in the 1940s and spread worldwide in the following decades, particularly enhancing the production of wheat, rice, and corn. The high-yield varieties developed were specifically bred to respond to fertilizers and produce more grain per acre.

Question 24

What are the potential problems created by the green revolution?

Answer 24

1. The reliance on chemical fertilizers and pesticides has improved short-term yields but may have deferred problems related to soil health and sustainability.
2. Increased irrigation has supported crop growth but also led to issues like water scarcity and salinization over time.
3. Environmental issues: Overuse of fertilizers and pesticides has led to soil degradation, water pollution, and loss of biodiversity.
4. Socio-economic issues: Small-scale farmers often could not afford the new technologies, leading to increased inequality and, in some cases, land consolidation and displacement.
5. Health concerns: The heavy use of chemicals in agriculture has raised concerns about their impact on human health and the environment.

Question 25

What are various sustainable agriculture practices that focus on effective soil management?

Answer 25

1. Crop Rotation - Crop rotation involves growing different types of crops in the same area in sequenced seasons.
2. Contour Farming - Contour farming is the practice of plowing and planting across a slope following its elevation contour lines.
3. Terracing - Terracing involves creating stepped levels on a hillside to reduce soil erosion and surface runoff.
4. Intercropping - Intercropping is the practice of growing two or more crops in proximity.
5. Shelterbelts - Shelterbelts (also known as windbreaks) are rows of trees or shrubs planted to protect fields from wind erosion
6. Conservation Tillage - Conservation tillage is a method of soil cultivation that leaves the previous year’s crop residue on fields to reduce soil erosion and runoff.

Question 26

What is the one health concept?

Answer 26

The “One Health” concept is an integrated approach that recognizes the interconnection between human health, animal health, and environmental health. This approach emphasizes the importance of collaboration across multiple disciplines and sectors to achieve optimal health outcomes for people, animals, and the environment.

Question 27

What are 3 potential scenarios for the healthcare system?

Answer 27

1. Technology saves the day - the promise from increasing digitization, automation and integration of healthcare systems bears fruit. We benefit from the improved system and reduced costs
2. Prevention takes over from sick care - a shift to a preventive approach to health and wellness is realized by an alignment of change in regulation, payer funding priorities and mass citizen engagement for behavior change
3. Health systems become increasingly private - with few immediate breakthoughsm public healthcare systems facing a funding crisis from growing, ageing populations take major steps to reduce levels of citizen cover and isolate and private risk

Question 28

what is behaviorism?

Answer 28

behaviourists believe external stimulation influence one’s learning behavior, rewards and punishment can change one’s learning perfomance

Question 29

What is cognitivism?

Answer 29

conginitive theory concerns those mental processes that cannot be observed through human beings’ problem-solving process and human beings’ learning strategies. it studies human brains’ thinking process

Question 30

what is constructivists?

Answer 30

practicing is a foundation of learning and without learning practice, students would get lost

Question 31

what is connectivism?

Answer 31

it’s a collective connections between all the ‘nodes’ in a network that result in anew forms of knowledge

Question 32

what are the types of innovation?

Answer 32

• products
• services
  -business model

Question 33

what are the root cause of resistance to innovation?

Answer 33

-fear of job loss
-lack of awareness or understanding
-comfort with the status quo
-Perceived risks
-organizational culture
-lack of training and support

Question 34

how do we innovate?

Answer 34

the best way to innovate is to work together, share and collectively learn

Question 35

what are the intuitive factors of social response to innovation?

Answer 35

Intuitive factors relate to gut feelings, instincts, or immediate perceptions people have towards new ideas or technologies. These are often based on: fear of unknown, perceived risk, lack of understanding

Question 36

what are the vested interest of social response to innovation?

Answer 36

Vested interests refer to the resistance from individuals or groups who benefit from the current system and stand to lose power, status, or economic benefits due to innovation.

Question 37

what are the intellectual factors of social response to innovation?

Answer 37

Intellectual responses involve rational and critical thinking about the implications of innovation. These responses can be positive or negative: critical thinking, ethical concerns, skepticism

Question 38

what are the sociopsychological factors of social response to innovation?

Answer 38

These factors involve social and psychological dynamics that influence how individuals and groups respond to innovation. Key aspects include: social norms, peer pressure, cognitive biases

Question 39

what are 3 key factors that influence the likelihood of an innovation to succeed?

Answer 39

1. the intensity of motivation - (1) If the current technology or system being replaced is highly valuable, there is likely to be strong resistance to innovation. Stakeholders invested in the old system will have significant motivation to oppose the new technology to protect their interests. (2) if the innovation promises substantial benefits to society, such as improved health, efficiency, or quality of life, there will be stronger support and promotion of the innovation. The perceived societal gain can outweigh the resistance from vested interests.
2. Distribution of Winners and Losers - The success of an innovation can depend on how the benefits and drawbacks are perceived and acted upon by these different groups. Collective consumer actions can significantly impact the adoption and regulation of new technologies.
3. Role of Authority - The support or opposition of authoritative bodies can shape the landscape of technological adoption, making their position a critical factor in the success of an innovation.

Question 40

what is the change management?

Answer 40

change management is the discipline that guides how we prepare, equip and support individuals to successfully adopt change in order to drive organizational success and outcomes

Question 41

What’s the best way to manage resistance to innovation?

Answer 41

Managing resistance to innovation requires a comprehensive approach that addresses the emotional, practical, and cultural aspects of change. By communicating effectively, involving stakeholders, providing support, addressing fears, demonstrating leadership commitment, aligning with organizational culture, highlighting quick wins, managing expectations, providing incentives, and continuously monitoring progress, organizations can foster a more accepting and proactive attitude towards innovation.