CONCEPTUAL PROBLEMS IN TECHNOLOGY DEVELOPMENT AND SUSTAINABLE INNOVATIONS

1. Declining resources – very few companies had to find growth while facing declining resources.
2. The critical balance between scale, reliability and cost. Bringing any new product or service to the market is challenging. The risk of growing (scaling) of getting the product right & keeping costs under control must always be balanced.
3. Undetermined uncertainties, all innovation involves uncertainty. Will the technology scale? Will customers buy? Will competitors beat it?
4. Technology challenge – rapidly changing technology requires a company to keep up with trends if it is to remain competitive, while new technology itself is expensive to adopt and implement.
5. Government support – lack of government support on sustainable companies may make it difficult for companies that have obtained sustainability to compete with the rest of the industry.
6. Lack of skilled manpower – inadequacy of skilled labour on innovation aspects in the market proves to be a challenge to organisations striving to implementation innovation.

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