abhijithajikumar Innovation is often driven by the pursuit of profit and economic growth. However, some argue that it should prioritize addressing social and environmental issues. Discuss both sides and give your opinion.
Over the past many decades, there have been many noteworthy innovations in the world. Many people regard revenue to be the sole motive of such innovations while others contend that societal and environmental concerns should be given the priority. Both these views are backed by legitimate arguments, in my opinion, issues pertaining to society and ecology must be addressed by innovative means with an efficient revenue model.
For any innovations to successfully reach its targeted audience, economic growth is of great significance. With a positive economy, innovators could persevere until they meet their customers to establish their position in the market. If they do not, these innovations could not endure and sustain for a longer period. This is particularly common with many innovative companies which failed to generate enough profits and hence, have failed to their competitors. Therefore, it is imperative for newer innovators to consider revenue generation on having a significant role in their survival.
Nonetheless, the world today faces many social and environmental challenges that require immediate solutions through innovative interventions. For instance, the unprecedented surge in population levels has forced many to fall into poverty where they do not have access to basic amenities like proper sanitation and healthcare. Also, natural resources like drinking water and clean air are depleting due to the higher pollution and global warming rates each year. Hence, these concerns should be prioritised and tackled through innovations as these adversely affect the quality of our lives and the environment.
In conclusion, it is perceived by many people that innovations are to be driven only by economic interests though others argue that the current societal and ecological concerns should be given a greater significance. Unarguably, both arguments have valid claims; however, I believe that solutions to social issues are to be prioritised with a feasible and sustainable revenue generation model.
