Contemporary Issues in Entrepreneurship and Innovation
Added on 2023-06-07
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Running head: CONTEMPORARY ISSUES IN ENTREPRENEURSHIP AND INNOVATION
Contemporary issues in entrepreneurship and innovation
Name of Student:
Name of University:
Author Note:
Contemporary issues in entrepreneurship and innovation
Name of Student:
Name of University:
Author Note:
1CONTEMPORARY ISSUES IN ENTREPRENEURSHIP AND INNOVATION
Evaluation of the proposal:
The discovery of plastic brought a revolution in the history of packaging. The material is
durable in nature and cheap in price. However, these are the exact same reasons why it create a
problem. Hence, scientists and organizations have introduced ways to reduce the problem if not
solve it. One of the many ways developed by the researchers and taken up by the organizations is
the ban of plastic straws in the food and beverage industry. However, the ban of the product does
not suggest that it will affect the utility of the consumers. Instead, the researchers have provided
an alternative to the plastic straw known as Lolistraw (Santiago 2013). This product was chosen
by Sandra. This is the first edible straw in the world and a groundbreaking invention in itself. It
is made of a type of edible sea weed and is hyper-compostable. This means that he user of this
accessory can eat it after use. If not eaten, it can be buried into the ground since it decomposes in
a span of sixty days unlike plastic straws that may take up to two hundred years to decompose
fully. This has been concluded as per the research report presented by Sandra. This product is yet
under the research stage and has very few competitors, as stated by Megan. The product is
currently being developed by crowd-funding measures, as is found out by April.
Impact on stakeholders
Stakeholders can be classified into various types chiefly on the basis of their position in
the company. The can be the consumers, employees of an organization, investors, suppliers,
communities and even the government. The idea of edible straw is innovative without a doubt
since it can deal with the increasing plastic problem. The material of the straw is biodegradable
and not harmful to the environment because it is decomposable. All of these utilities are likely to
affect he stakeholders in a positive way. However, there are certain drawbacks of this product
Evaluation of the proposal:
The discovery of plastic brought a revolution in the history of packaging. The material is
durable in nature and cheap in price. However, these are the exact same reasons why it create a
problem. Hence, scientists and organizations have introduced ways to reduce the problem if not
solve it. One of the many ways developed by the researchers and taken up by the organizations is
the ban of plastic straws in the food and beverage industry. However, the ban of the product does
not suggest that it will affect the utility of the consumers. Instead, the researchers have provided
an alternative to the plastic straw known as Lolistraw (Santiago 2013). This product was chosen
by Sandra. This is the first edible straw in the world and a groundbreaking invention in itself. It
is made of a type of edible sea weed and is hyper-compostable. This means that he user of this
accessory can eat it after use. If not eaten, it can be buried into the ground since it decomposes in
a span of sixty days unlike plastic straws that may take up to two hundred years to decompose
fully. This has been concluded as per the research report presented by Sandra. This product is yet
under the research stage and has very few competitors, as stated by Megan. The product is
currently being developed by crowd-funding measures, as is found out by April.
Impact on stakeholders
Stakeholders can be classified into various types chiefly on the basis of their position in
the company. The can be the consumers, employees of an organization, investors, suppliers,
communities and even the government. The idea of edible straw is innovative without a doubt
since it can deal with the increasing plastic problem. The material of the straw is biodegradable
and not harmful to the environment because it is decomposable. All of these utilities are likely to
affect he stakeholders in a positive way. However, there are certain drawbacks of this product
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