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Based on the Effect of Emerging Technology on the Economy of the Country assignm

by | Aug 31, 2022 | Marketing | 0 comments

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Based on the Effect of Emerging Technology on the Economy of the Country assignment you completed in Topic 3, provide an executive summary (350-500 words) to recommend how the emerging technology could solve a problem in your country. Provide research and evidence that supports your summary. Use the following format:
Introduction
Provide an overview of what you are recommending to an executive at an organization.
Identify the Problem
Describe the problem and its impact within the chosen country.
Propose a Solution
Describe an emerging technology (global or country-specific) that could be implemented to solve the problem.
Identify an organization that offers the emerging technology to solve the problem.
What Is Needed to Implement the Solution
Highlight potential obstacles based on economic, legal, and cultural factors within the country. For example, what the solution costs, return on investment, legal compliance, competition, market entry barriers, cultural customs and values, and available resources.
Identify a local business partner within the selected country that could help the organization advance the proposed emerging technology.
General Requirements
In-text citations are not required, but references should appear in an addendum to the executive summary.
While APA style is not required for the body of this assessment, solid academic writing is expected, and documentation of sources should be presented using APA formatting guidelines, which can be found in the APA Style Guide, located in the Student Success Center.
This assignment uses a rubric. Please review the rubric prior to beginning the assignment to become familiar with the expectations for successful completion.
You are required to submit this assignment to LopesWrite. A link to the LopesWrite technical support articles is located in Class Resources if you need assistance.
Benchmark Information
This benchmark assignment assesses the following programmatic competencies:
BS Business Administration 3.2; BS Applied Management 3.12; BS Business Management 5.6
Analyze the economic, legal, and cultural factors that affect organizations in the global business environment.
topic 3 paper
2Impact of Emerging Technology on the Economy of a CountryIndia is the second most populous nation in the world. The large population creates tremendous challenges because of the human activities required to sustain it. One of the major challenges facing India with significant socioeconomic costs is air pollution. According to the World Bank (2021), about 1.4 billion people are exposed to unhealthy levels of pollution, which have the potential to cause numerous health problems. The internet of things (IoT) is an emerging technology with the potential to help India reduce high levels of air pollution. This paper will define the air pollution problem, its socioeconomic costs, and the IoT as a potential solution to the problem.Air Pollution in IndiaAir pollution in India is significantly prevalent and poses numerous socioeconomic challenges. According to the World Bank (2021), the Indian population is exposed to high levels of air pollution that threaten their health. The most affected people are those living in cities. The economic activities in cities such as large numbers of motor vehicles and factories make them susceptible to unhealthy air pollution levels. For instance, according to Bathini (2020), one of the recent pollutant leakages in a factory occurred on the outskirts of the city of Visakhapatnam. There are numerous socioeconomic costs to those affected by the air pollution challenge. The World Bank (2021) argues that one of the socioeconomic effects of air pollution is the high rate of deaths arising from health complications. For instance, in 2019, people’s exposure to high levels of air pollutants caused 1.7 million deaths. The significant number of deaths creates further socioeconomic costs such as the cost of replacing workers who die. Additionally, those who die from air pollution are income earners who support their families. Consequently, their deaths represent lost income and significant suffering to their dependents. For instance, in 2017,
3the income lost due to pollution ranged from $30 billion to $78 billion, which was equivalent to between 0.3% and 0.9% of India’s GDP (World Bank, 2021). Such high socioeconomic costs require the nation to use all means possible to minimize the impact of air pollution. Emerging Technology to Solve the ProblemAlthough there may be numerous emerging technologies with the potential to help reduce air pollution, the IoT is the most ideal because of its capacity to increase the visibility of pollution levels in real-time. According to Oracle (n.d.), IoT refers to a network of objects that are connected with software, other technologies, and sensors for the purpose of sharing data over the internet. The interconnected devices can help monitor air pollution levels in real time, which can facilitate quick decision-making to prevent the pollutants from reaching unhealthy levels. The cost of using IoTs is relatively low compared to the traditional costs of utilizing air quality control systems. According to Parmar et al. (2017), conventional air monitoring systems are both bulky and costly. The high costs are inhibiting because they make it challenging for organizations to install the systems on a massive scale. It is probably the reason air pollution has continued to rise untamed in India due to the limited number of air quality monitoring systems. Parmar et al. (2017) suggest that using IoT provides a cheaper alternative to the traditional method of environmental monitoring because of the technology’s low cost. Toma et al. (2019) point out that the components of an air quality monitoring device using IoT in the United Kingdom cost about US$900 and a second version of the same device cost US$1000. Such costs are relatively low, especially if those with a desire to use IoT-based air quality monitoring systems are organizations or cities. Therefore, the cost of using the technology is low, which increases its potential for use.
4The stage of development of IoT is critical when considering its viability as a potential solution to the air pollution facing India. Two frameworks that evaluate the developmental stages of technologies include the Hype Cycle and the 6 Ds of disruption model. The stage of development in the two frameworks can help predict whether the technology will grow and gain the potential to provide meaningful value to corporations. According to Bremild (2021), the Hype Cycle has five stages, which include innovation trigger, the peak of inflated expectation, the trough of disillusionment, the slopes of enlightenment, and the plateau of productivity. The IoT is in the early slope of enlightenment because of its current increased use in business-to-business and industrial operations after reaching the trough of disillusionment stage where it underperformed in terms of adoption against expectations (Bremild, 2021). Its position on the slopes of enlightenment shows increased potential for widespread adoption, which can help it develop further and become effective at helping India deal with the air pollution problem. The 6 D’s model has six stages, which include digitized, deceptive, disruptive, demonetized, dematerialized, and democratized (Calvo, 2018). The IoT is at the deceptive stage of the 6 D’s model, because it is just starting to show its potential. It may thus not seem useful or impressive currently, but may move to the disruptive stage and surprise people. The gradual adoption at the business and industrial levels means that the technology may have the potential to help India monitor and thus reduce air pollution. The IoT can foster sustainability practices in the Indian economy to a significant extent. Air pollution is a threat to the environment that companies must conserve to sustain their operations. When air pollution continues to increase, companies to lose employees who get sick as World Bank (2021) has demonstrated. The loss of workers may disrupt the economy’s growth and thus threaten its sustainability. The use of IoT to minimize air pollution is thus part of
5sustainability practices. The adoption of IoT successfully may encourage organizations in India to seek similar technologies to address sustainability challenges, which may embed sustainability practices in the Indian economy. The success of IoT in reducing air pollution will thus set the stage for stakeholders in the Indian economy to embrace sustainability practices using emerging technologies. How LG can Use IoTs to Solve the Pollution ProblemLG is a Korean MNC with operations in India. The company has faced a pollution problem in the past that resulted in fatalities. According to Bathini (2020), a leakage of styrene gas at an LG polymers factory in India caused 12 deaths. Had the company used an IoT-based air quality monitoring system, it could have noticed the leakage and taken remedial action to prevent further leaks. Consequently, it could have saved the lives that were lost. LG can thus use IoT to connect sensors and control devices in its factories to monitor the air quality in real-time through the internet. Such live monitoring can help managers at factories make quick decisions to take corrective measures in case pollutants are identified in the air. Such use of IoT can improve sustainability practices since it directly improves the company’s ability to reduce its impact on the environment. ConclusionAir pollution is a serious problem facing India with significant socioeconomic implications. The country incurs costs due to loss of labor productivity while families incur the loss of revenues when relatives die due to air pollution. IoT is an emerging technology with the potential to help both India and corporations operating in the country minimize air pollution. The technology has the potential to promote sustainability practices because air pollution reduction is often a sustainability practice goal.
6ReferencesBathini, D. (2020, May 24). LG Polymers: Was negligence behind India’s deadly gas leak? BBC. https://www.bbc.com/news/world-asia-india-52723762Bremild, M. (2021). What happened to the IoT hype? LinkedIn. https://www.particle.io/iot-guides-and-resources/iot-hype-cycle/#:~:text=Phase%203%20is%20where%20IoT,evolution%20of%20your%20business%20model.Calvo, J. (2018).Leading through the 6 Ds of tech disruption. GLOBIS Insights. https://globisinsights.com/future-of-work/6-ds-of-tech-disruption/Oracle. (n.d.). What is IoT? https://www.oracle.com/ke/internet-of-things/what-is-iot/Parmar, G., Lakhani, S., & Chattopadhyay, M. K. (2017). An IoT based low cost air pollution monitoring system. Proceeding International Conference on Recent Innovations in Signal Processing and Embedded Systems, 524-528. https://www.researchgate.net/publication/324562516_An_IoT_Based_Low_Cost_Air_Pollution_Monitoring_SystemThe World Bank. (2021). Catalyzing clean air in India. https://www.worldbank.org/en/country/india/publication/catalyzing-clean-air-in-india#:~:text=Exposure%20to%20PM%202.5%20can,heavy%20cost%20to%20the%20economy.Toma, C., Alexandru, A., Popa, M., & Zamfiroiu, A. (2019). IoT solution for smart cities’ pollution monitoring and the security challenges. Sensors, 19(15), 3401. https://doi.org/10.3390/s19153401
Impact of Emerging Technology on the Economy of the Country – Rubric
expand 1) Current Problem assessment
1) Current Problem
15 / 15
5. 5: Excellent
15 points
Discussion of a current problem in the selected country, including who is affected, where the individuals are located, and the resulting socioeconomic costs of the problem, is expertly completed and includes substantial supporting detail.
Criteria Comments
“One of the major challenges facing India with significant socioeconomic costs is air pollution.” “about 1.4 billion people are exposed to unhealthy levels of pollution, which have the potential to cause numerous health problems.”
expand 2) Emerging Global and Local Technologies assessment
2) Emerging Global and Local Technologies
11.25 / 15
3. 3: Satisfactory
11.25 points
Discussion of the emerging global and local technologies that could be used to solve the problem, including the associated cost of implementing the technology solution, is included at a basic level but lacks complete or relevant supporting detail.
Criteria Comments
“The internet of things (IoT) is an emerging technology with the potential to help India reduce high levels of air pollution.”
Johnny, the IoT is not a solution. It is a tool that can be used to monitor the level of pollution, but it (the IoT) can’t alter the pollution level or do anything that actually ‘fixes’ the problem. It is a ‘tool’ for monitoring whatever ‘fix’ you put in place to see if the ‘fix’ is resolving the problem.
expand 3) Application of the Hype Cycle and 6 Ds Model to the Emerging Technology assessment
3) Application of the Hype Cycle and 6 Ds Model to the Emerging Technology
15 / 15
5. 5: Excellent
15 points
Application of the Hype Cycle and the 6 Ds of disruption model to the emerging technology is expertly completed and includes substantial supporting detail.
Criteria Comments
I graded this section as though IoT was a solution – and graded it based on the knowledge of that the Hype Cycle, and 6Ds can be used for in regards to IoT.
expand 4) How the Emerging Technology Will Foster Sustainability in the Economy of the Selected Country assessment
4) How the Emerging Technology Will Foster Sustainability in the Economy of the Selected Country
15 / 15
5. 5: Excellent
15 points
Discussion of how and to what extent the emerging technology will foster sustainability practices on the economy in the selected country is expertly completed and includes substantial supporting detail.
Criteria Comments
Again, I graded this section as though IoT was a viable solution, and by resolving the problem there wouls be benefits to the economy. NOTE: IoT could have been a solution to the problem IF the problem had been deaths occuring because of high levels of pollutants being present but not detected. IF that were the problem, then IoT could ghave ‘detected’ these dangerous levels and taken action to prevent the deaths.
expand 5) Explanation of How an Existing MNC in the Country Could Solve the Problem assessment
5) Explanation of How an Existing MNC in the Country Could Solve the Problem
11.25 / 15
3. 3: Satisfactory
11.25 points
Explanation of how existing MNC in the selected country could solve the problem by implementing the emerging technology while supporting suitability practices is included at a basic level but lacks complete or relevant supporting detail.
Criteria Comments
“LG can thus use IoT to connect sensors and control devices in its factories to monitor the air quality in real-time through the internet.” True, but again this would not have solved the problem you chose to identify. Also, even if you changed the problem, this example of LG would not have solved the problem for the country of India, but only for the LG plant.
expand Thesis Development and Purpose assessment
Thesis Development and Purpose
4.25 / 5
4. 4: Good
4.25 points
Thesis is clear and forecasts the development of the paper. Thesis is descriiptive and reflective of the arguments and appropriate to the purpose.
Criteria Comments
No comments.
expand Development, Structure, and Conclusion assessment
Development, Structure, and Conclusion
4.25 / 5
4. 4: Good
4.25 points
The thesis, position, or purpose is advanced in most aspects. Ideas clearly build on each other. Conclusion aligns to the development of the purpose.
Criteria Comments
No comments.
expand Evidence assessment
Evidence
4.25 / 5
4. 4: Good
4.25 points
Relevant evidence that includes other perspectives is used.
Criteria Comments
No comments.
expand Mechanics of Writing assessment
Mechanics of Writing
5 / 5
5. 5: Excellent
5 points
Writer is clearly in control of standard, written, academic English.
Criteria Comments
No comments.
expand Format/Documentation assessment
Format/Documentation
5 / 5
5. 5: Excellent
5 points
No errors in formatting or documentation are present.
Criteria Comments
No comments.
Instructor Comments

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