Question

Discuss factors affecting the adoption of environmentally friendly technological innovation
among firms.

From your perspective what is the most important factor? Support your answer
with realistic examples.

Answer 1

CUSTOMER PERSPECTIVE
It is one of the factors influencing the adoption of environmentally friendly technological innovation and education,
affordability, availability, accessibility, culture of the society and customer perception of environmental protection play a major role. .

BUSINESS PERSPECTIVE
Business should crate to needs of the customer and to the trend towards an adoption of green
products as a part of its corporate social responsibility. Business will require technology transfer which can be done in through mergers, acquisitions, licensing, franchising,
joint ventures, etc

GOVERNMENT RULES AND REGULATIONS
Government rules and regulations in some countries make it compulsory for the companies to adopt Eco friendly technology in order to save the environment and the companies failing to do so are liable to pay huge penalties.

INDUSTRIAL RELATIONS AMONG COUNTRIES
Cordial relations among the countries help in innovation and transferring the technology without any restrictions. Even the resources required for such innovation and skills if exchanged through cordial relationships can benefit most of the companies.

In my opinion Government rules and regulations and industrial relations among countries are two most strongest factor which can lead the companies to adopt environment friendly innovation and it is very much relevant in Dubai. Dubai government has declared itself as plastic free country to avoid plastic pollution and due to which no business involves the production of plastic goods.

Also because of good relations among countries some of the Indian nuclear power projects technologies are adopted from Canada, Russia and United States. Also United States is ready to supply the purified uranium to produce the nuclear power in many countries.