Week X Entrepreneurship Assignment: Biodegradable & Eco-Products

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Added on  2023/01/06

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Homework Assignment
AI Summary
This assignment analyzes two articles related to sustainable business practices. The first article focuses on the manufacturing and adoption of biodegradable and compostable plastics, highlighting their potential to reduce environmental impact, reduce costs, and be used in diverse applications like packaging and agriculture. It emphasizes the growing consumer preference for eco-friendly products and the advancements in bioplastic materials. The second article discusses the development of eco-friendly products and the importance of sustainable product development programs and strategies. It underscores the need for organizations to integrate business and environmental factors to achieve corporate sustainability and competitive advantage. The analysis links both topics to the course material by highlighting how innovative ideas can be commercialized, emphasizing the significance of developing effective strategies, and the pros and cons of each approach in relation to the course's objectives. The student found both topics interesting due to their focus on resolving environmental problems and providing innovative business ideas.
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Week X
Topic A
Title: Adoption of biodegradable and compostable plastics
Link: https://chemistry-europe.onlinelibrary.wiley.com/doi/full/10.1002/open.201900272
Summary: This article focuses upon ways in which manufacturing of biodegradable and compostable
plastic products that can help in reducing negative impact of harmful plastic materials upon
environment. Manufacturing biodegradable plastic can helps organizations in reducing
waste, reduce raw material cost and enhance overall quality of their products. Not only this,
it can also be used for different kinds of packaging like for flexible packaging, rigid packaging,
electronic items packaging, for agriculture and for many other things. Other than packaging
it can be used for biodegradable fertilizers in agriculture as well.
Plastic is a product which is used by most of the industries for various purposes. It is not only
used for packaging of food products, but it is used for packaging of personal care, cosmetic,
and domestic products. Excessive usage of plastic products and packaging is giving rise to
serious environmental and health problems because wastage of plastic products in
environment is increasing year by year continuously. It has also been summarized that, this
plastic waste can be used for development of various kinds of products such as fertilizers,
biodegradable packaging, and usable product. Bioplastic products manufacturing is also
useful because when product is of no use then these bioplastic products can again be used
for converting it into either biogas or biodegradable and environment friendly fertilizers.
Development of biodegradable products is not only useful for reducing waste material and
negative impact of plastic upon environment but at the end of their lives, these
biodegradable products can also be used manufacturing of biogas, fertilizers or
biodegradable plastic material that can be used for packaging. This manufacturing of
biodegradable products business is increasing. Not only this, rapid advancement and
innovation in this industry is taking place so that discovery of new bioplastics based
materials with improved properties and functionalities can be identified and can be used in
textiles, construction and building, consumer goods, and automotive applications.
Why I found this
interesting:
The topic itself of this article made me curious and after reading this article I found it quite
interesting as this article not only focuses upon provision of a new business idea but it also
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focuses upon resolving one of the main and most important environment problem i.e.
increasing plastic wastage which is not only harmful for environment but it is also harmful
for human health and wellbeing. It is one of the best business ideas that can get success in
future because nowadays a greater number of people are becoming environment friendly
and are focusing upon environment friendly products and materials. manufacturing of
biodegradable and compostable plastic products is an excellent business idea that can get
success in future. Due to increasing health issues and environment pollution even today,
people prefer opting products or materials that are eco- friendly and that can be recycled or
reused in future.
How this links to
the course:
This article is linked to course learning as it is an innovative business idea. This idea can be
great success in future. This article is one of the best examples that can help in explaining
ways in which an innovative idea can be converted into business and can be commercialized.
There are various pros and cons of this article that directly helps in linking it to the course.
Some of the main pros of this article are: It helps in providing an eco-friendly or sustainable
innovative idea that can be used in future. Not only this it also helps in providing ways in
which organizations can focus upon using biodegradable plastics and take a step forward
towards environment sustainability. But it does have some cons i.e. ways in which
awareness about such kind of biodegradable plastic material usage awareness can be
increased.
Topic B
Title: Development of eco-friendly products
Link: https://link.springer.com/article/10.1007/s11747-015-0470-5
Summary: This article focuses upon development of sustainable and eco- friendly non-biodegradable
products that can help in overcoming ecological challenges and reduce negative impact of
human activities on environment. Organizations that focuses upon development of green
products manufacturing and development need to develop green product development
program and strategies so that challenges associated with development of green products
can be overcome. As per this article sustainable product development activities are
expected to grow in importance in the future. Eco friendly product development not only
helps in gaining environment sustainability but can also be used for gaining corporate
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sustainability and competitive advantage. Organization who adopts proper eco friendly
product develop strategy not only gain competitive advantage but also enjoys enhancement
in product development effectiveness. It has also been summarized that for sustainable
growth of business with new idea it is important to realize opportunities for future business
development, utilize resources in an effective manner so that opportunity for development
of a successful business idea can be done in a proper and effective manner.
Why I found this
interesting:
Topic of this article made me curious because of which I started reading this article. This
article helped me in understanding in order to start manufacture or develop eco- friendly
products it is important for organizations to develop strategies by linking business
environment, environment factors together so that eco-friendly product development
strategy can be developed for effective development of sustainable product. I found this
article interesting due to many reasons. Nowadays people prefer using or consuming
environment friendly products. So many organizations are coming up with different kinds of
business ideas that can be used by them but many times these business ideas fail due to
varied reasons but most important reason is not developing eco- friendly product develop
strategy by developing business functions and environmental factors together. Development
of this strategy helps a firm to enhance ability of business environment that supports
sustained growth by satisfying demand of customers. This can be done by identifying main
demand of consumers, utilizing all the available resources so that new environment friendly
product developed can fulfill needs and requirements of customers in a proper and effective
manner. Development of eco- friendly products is a sustainable business idea that can help
organizations in achieving success in future. But for this it is also important for them to
develop effective strategy so that development of eco-friendly business idea can become
successful and can be expanded to a large scale.
How this links to
the course:
This topic is linked to the course (commercialization and innovation) because to start a
business only innovative idea is not enough. It is also important to develop an effective
strategy for growth of business, attract target customers and for proper commercialization
of product. It has also been observed that development of proper and effective eco-friendly
product development strategy helps an organization to achieving success, effective
marketing of products and commercialization of sustainable products developed by
organization. There are various pros and cons of this article that directly helps in linking it to
the course. Some of the main pros of this article are: It can help in providing ways in which
eco- friendly non-biodegradable products can be commercialized and challenges associated
with the manufacturing of products can overcome by the organization. But it does have
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some cons i.e. this article focuses upon all kinds of sustainable products, it does not focus
upon a particular product.
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