Question

1. Identify a most suitable goods/services business in which innovation can be done on the basis of the customer need in the GCC countries and the kind of eco-systems in the region, and where is such eco-system located. (You need to identify goods/services plus its required eco-system and the location of the eco-system.

2. What steps could be used to scale up the business concept. Mention any five steps.

3. What could be most probably innovation in that business and what effects might appear in the society because of your innovation? Mention any three effects

. 4. Identify your current career plans. Also indicate what kind of innovation could have a major impact in your planned career field, and what would be that impact.

List the exact references as footnotes on the respective pages, for the

Answer 1

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A business that can be innovated in the GCC countries is ENERGY AND POWER sector.

Saudi Aramco remains in the GCC. The gas and oil company is the biggest oil and gas firm in the globe. The organization proved to be naturally competitive than Apple in the most recent leakage of estimates. Though the Government of Saudi Arabia goes on to produce vast amounts of barrels of oil every year, the Economic Diversification Strategy of its for 2030 is continually being implemented. Aramco undertakes several groundbreaking ventures in the market which see-the Kingdom lead the way. Aramco is trying to make King Salman Energy Park (Spark) in the Kingdom's Eastern Province included in the dedication of its to the development of the private sector. It's projected to become a worldwide manufacturing facility for power-related providers for several of the world's most visible as well as creative names in the power sector. By 2025, SAR22.5 billion will be contributed to GDP in the Kingdom every year.

The nation has additionally invested in the inexhaustible energy sector with a solid knowledge of the dwindling source of petroleum. The UAE has among the region's most competitive applications. For instance, the Shams sun park in Abu Dhabi has just recently turned into the world's largest concentrated sun project, setting a world record low costs for any CSP task for only 7.3 cents a kilowatt-hour, with the original power station in the Middle East, even though the Dubai Electricity, as well as Water Authority (DEWA), reported. In 2050, the nation expects to get pure power provided by forty-four %. Saudi Aramco additionally is dedicated to the fresh energy market and has partnered in cooperation with the Massachusetts Institute of Technology (MIT) for 5 years earlier this season for twenty-five dollars million.

Ways to scale up the business:

There are many renewable sources of energy that could be used to scale up the power generation business. The steps such as:

• Using wind turbines to lessen dependency on fossil fuels.
• Utilizing solar power to harness the potential of the suns' light and minimize the utilization of fossil fuel. The original expense is more but the sustained low price of energy generation with the long run is able to help mitigate the exact same. UAE features a big sand desert which gets the greatest level of solar light that can easily be utilized as a solar energy generation farm and boost the profits from a renewable source of power.
• Making use of nuclear power to lessen dependency on fossil fuels, in addition, to scale up the company of energy as well as power.
• Policy Predictability: The brand new wind transition from Feed-in-Tariff (FiT) to widen bidding has enhanced the blowing wind segment, which is going to grow yearly to approx 10 14 GW. Although this has provided the investor a lasting exposure, short-term volatility has been created. States are going to honor the agreements which were concluded earlier & fulfill their non-solar RPOs. In the situation of Solar, bankable PPAs with specific quantities should be authorized yearly by governments. Additionally, the abolition of the MAT for unlimited energy before 2022 will even incorporate impetus to that particular expansion by serious conformity with the state level buying needs of open access in addition to renewables at no cost.
• Policy for offshore Wind: UAE has great shoreline. It may be utilized to set up wind turbines to boost electrical power development, in addition, to decrease the dependency on fossil fuel.
• Land & Grid Infrastructure: These initiatives are vital to boost clean energy sources in keeping sufficient capacity as well as area quality for electrical energy evacuation. In cooperation with the regional governments, the federal government will identify the ground with these qualities and also allow it to be accessible with particularly post-clearance for the building of revived energy projects. Furthermore, the States should make sure that the' should work' condition of grid fed pure energy is recognized.

Most probable innovation:

• Less transmission of power over long power lines: Lower power loss as well as less costly to customers.
• Reduce dependency on fossil fuel for power generation: More clean environment and
• Using more nuclear fission energy for power generation: less cost of power generation as well as less impact o the environment.

My career plan:

I'm prepared to become a hotelier. Hotels have four primary components of the service charges of theirs. Power is the biggest energy cost, comprising sixty % of general spending, as per the 2015 edition of Patterns in Hotels. The next major infrastructure expense is drinking water and provide (23.8 %), led by diesel and gasoline (10.6 %), and steam (2.3 %). Hotel Industry Trends will be the annual survey performed by PKF Hospitality Research, a CBRE tight, on US resort operating statements.

Pricing is merely one facet of the general expense of the resort. Use is the opposite component. Almost all hotels in the US presently don't publish data on the financial statements of theirs on energy consumption.

In 2014, the entire spending on hotel utilities increased comparatively really by 4.8 % on the dollar per space (PAR) foundation but improved POR by only 1.7 %. This demonstrates the expansion of 3.0 % in the number of areas occupied was far more important compared to variations of energy parts in changes in the hotel's utilities.

Thus any change in the policy of the power sector will affect the hotel industry and its profitability. Thus the power sector has a huge impact on my career plan.

References: (APA)

Venkatesh, R., Singhal, T. K., & Mathew, L. (2018). Emergence of digital services innovation as a path to business transformation: Case of Communication Services Providers in GCC region (No. 585). EasyChair.

Venkatesh, R., Singhal, T. K., & Mathew, L. (2018). Emergence of digital services innovation as a path to business transformation: Case of Communication Services Providers in GCC region (No. 585). EasyChair.

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