unit 2 Flashcards
(26 cards)
- Meaning of Innovation
Innovation involves developing new or improved ideas, methods, or products to meet market needs, boost efficiency, or solve problems, keeping businesses competitive.
- Scope of Innovation
Product Innovation: New or improved products (e.g., Tata Nexon EV).
Process Innovation: Better production/delivery (e.g., Amazon automated warehouses).
Business Model Innovation: New revenue systems (e.g., Netflix subscriptions).
Technological Innovation: Advanced tech for value (e.g., Jio’s affordable 4G
- Features of Innovation
Creative: Generates novel solutions.
Market-Driven: Focuses on customer needs.
Dynamic: Adapts to technology and trends.
Risk-Taking: Encourages experimentation.
Sustainable: Prioritizes long-term, eco-friendly benefits.
- Types of Innovations
Incremental Innovation: Small improvements (e.g., mobile app updates).
Disruptive Innovation: Transforms industries (e.g., Uber disrupting taxis).
Radical Innovation: Major breakthroughs (e.g., 5G technology).
Open Innovation: External collaborations (e.g., corporate-startup incubators).
- Tools of Innovation
Brainstorming: Group idea generation.
Design Thinking: User-focused problem-solving (e.g., Flipkart UX).
SWOT Analysis: Assessing strengths, weaknesses, opportunities, threats.
Prototyping: Building models for testing.
Crowdsourcing: Gathering ideas from the public.
- Innovation Process
Idea Generation: Research and brainstorming for new concepts.
Screening: Evaluating feasibility and market potential.
Concept Development: Planning the chosen idea.
Prototyping: Building and testing models.
Commercialization: Launching in the market.
Improvement: Refining through feedback.
- Need for Innovations
Competitive Advantage: Staying ahead (e.g., Infosys using AI).
Customer Satisfaction: Meeting demands (e.g., Zomato drone delivery).
Efficiency: Cost reduction (e.g., ICICI chatbots).
Sustainability: Eco-friendly solutions (e.g., Fabindia packaging).
Economic Growth: Boosting industry and jobs (e.g., Indian startups)
- Environmental Clearance for Establishing and Operating Industries in India
Environmental clearance is approval for projects to ensure compliance with environmental standards and promote sustainable operations.
Key Steps in Environmental Clearance Process:
Screening: Determines clearance need (small projects may be exempt).
Scoping: Identifies environmental impacts.
EIA: Analyzes environmental implications.
Public Consultation: Gathers community input.
Approval: MoEFCC makes the final decision.
Monitoring: Ensures ongoing compliance
Categories of Projects Requiring Clearance:
Category A: Large projects with major environmental impact (e.g., mining, thermal plants).
Category B: Smaller projects with lesser impact (e.g., real estate, small industries).
Meaning of Green Technology
Green technology uses eco-friendly solutions to conserve resources, reduce pollution, and promote renewable energy.
Importance of Green Technology
Environmental Protection: Cuts pollution (e.g., Tamil Nadu wind energy).
Economic Benefits: Creates green jobs (e.g., India’s solar sector).
Energy Efficiency: Saves energy (e.g., LED over incandescent bulbs).
Climate Mitigation: Lowers emissions (e.g., Tata Nexon EV).
Sustainability: Ensures long-term ecological balance
Characteristics of Green Technology
Sustainability: Uses renewables (e.g., hydroelectric energy).
Low Carbon: Minimal emissions (e.g., Delhi CNG buses).
Recyclability: Promotes reuse (e.g., recycled paper).
Innovation: Eco-friendly solutions (e.g., IGBC green buildings).
Cost-Effective: Cuts long-term costs (e.g., rooftop solar panels)
Meaning of Carbon Credits
Carbon credits are tradable permits allowing businesses to offset emissions by selling unused quotas.
Importance of Carbon Credits
- Emission Reduction: Promotes cleaner technologies.
- Climate Goals: Supports Paris Agreement targets.
- Economic Gains: Enables countries like India to sell credits.
Meaning of Organic Farming
Organic farming uses natural inputs, avoiding synthetic fertilizers, pesticides, and GMOs.
Features of Organic Farming
- Natural Fertilizers: Compost and manure.
- Crop Rotation: Maintains soil fertility.
- No Chemicals: Ensures safe produce.
- Sustainability: Supports environmental health.
Meaning of Solar Technology
Solar technology uses sunlight to generate energy, such as electricity or heat.
examples of solar tech
- Solar Parks: Like Pavagada Solar Park in Karnataka.
- Government Schemes: PM-KUSUM (Pradhan Mantri Kisan Urja Suraksha Evam
Utthan Mahabhiyan) promotes solar pumps for farmers
Benefits of Solar Technology
- Renewable Energy Source: Endless supply from the sun.
- Reduces Energy Costs: Cuts electricity bills for households and businesses.
- Low Maintenance Costs: Once installed, solar panels require minimal upkeep
Meaning of EIA
EIA evaluates a project’s environmental impact to ensure sustainable and responsible development.
Steps in EIA:
- Screening: Determines EIA need.
- Scoping: Defines study scope.
- Impact Analysis: Evaluates environmental effects.
- Public Consultation: Gathers stakeholder feedback.
- Approval & Monitoring: Grants clearance with compliance checks.
Meaning of ISO 14001
ISO 14001 is a global standard for Environmental Management Systems to enhance environmental performance and ensure compliance.
Key Components of ISO 14001:
- Policy: Sets environmental goals.
- Planning: Identifies risks and opportunities.
- Implementation: Practices for waste and energy management.
- Monitoring: Audits for continuous improvement.
