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The main objective of the study is to carry out a critical investigation so as to point out strategies of edging good industries best fit for the dynamic and changing 21st century (Kim Mithas and Kimbrough 2017, p.4). The study also intends to conduct a (loom et al. 2016, p.117). Additionally, the business research study aims at analysing the possible effects of the continued growth of industries in the world and point out possible solutions to the identified negative effects.
Background and significance
In reference to research studies, it is imperative and typical that all firms in different industries aim at expanding and improving their production, which can only be achieved through continuous innovation and modernization (Sethi Ahuja et al. 2018, p.331). This explains why the trend of evolution in industries have undergone a significant change for the last seven decades. The evolution and change has been characterised by tremendous invention and integration of technology, all with the aim of improving on the quality of the product/ service output, strengthening the competitive advantage, and reducing the production cost. In this way, the profitability of companies is guaranteed
Furthermore, the availability of industries and their increasing growth has caused and yet to terrify more, the natural environment though pollution which subsequently leads to the degradation of the natural environment. This has also attracted the attention of different concerned bodies in and around the world. The intervention of such bodies have required the industries to focus on ensuring the industries focus on production while adopting new innovations and production techniques which are environmental conservative (Tassey 2015, p.208)
The preceding insight provides a core base for the relevance of the research study. The study will therefore focus on a critical investigation and analysis of how edging good industries can be undertaken .
Research question and objectives
1. What have been the core impacts of industrialization to the global development and the natural environment in particular?
2. In what ways have technology helped boosted the edging of good industries for the global development?
3. How can the positive influence of industrialization be improved?
4. In what ways can the negative impacts of industrialization be quenched?
5. What are the possible steps that can be undertaken as a way of edging good industries for the 21st century?
It is important to note that the effectiveness of any research study is substantially dependent on the appropriateness of the study objectives. This is because it acts as a central and fundamental guide for the study. Thence, with this insight the study will base on the preceding research questions to build the research objectives as below;
The main objective of the study is to carry out a critical investigation so as to point out strategies of edging good industries best fit for the dynamic and changing 21st century (Kim Mithas and Kimbrough 2017, p.4). The study also intends to conduct an (loom et al. 2016, p.117). Additionally, the research study aims at analysing the possible effects of the continued growth of industries in the world and point out possible solutions to the identified negative effects. This will be done by providing evaluation of how the evolution of industries have impacted on the global development recommendation after a critical analysis.
The research objectives can therefore be
1. To carry out a critical investigation so as to point out strategies of edging good industries best fit for the dynamic and changing 21st century
2. To evaluate how the evolution of industries have impacted on the global development
3. To analyse the possible effects of the continued growth of industries in the world and point out possible ways of restructuring into remedies
The industrial sector is significantly large and may be hard to conduct a general research study in the industrial sector as a whole. Due to this reason, the study will be limited to the manufacturing and the service industries (Fearnside 2016, p.60). The data to be gathered will help in reflecting in the general trend. In other words, the use of service and manufacturing industries as a case study is sufficient enough to provide a representative information in the industrial trends (Gelenbe and Caseau 2015, p.1).
the report is composed as indicated below
1. the purpose of the study
2. background of the study and the significance
3. management problem, research questions and objectives
4. the research boundaries
5. report outline
2. how technology has helped in shaping good industries.
3. The impact of increasing technology on the environmental
2. Rationale for the methods used and their justification
3. Detail of data collection
Literature Review/Theoretical Framework
As highlighted in the introduction, there has been a significant change in the industrial sector for the last decades which has subsequently changed the way the world operates. The changes have mainly been seen in the use of technology in the industrial sector and application of environmental friendly techniques among others (Dechezleprêtre and Sato 2017, p.200). Trends of these kinds have attracted substantial attention. In other words, the industrial trend has attracted a lot of research studies, as different researchers have undertaken scholastic studies. However, from the study, there has been a momentous and noticeable variance in the study findings although some have had a slight degree of likeliness (Leeson et al. 2017, p.84)
The literature review in section (2.2) will therefore be focusing on how technology has helped in edging good industries to meet the global dynamic changes. This will be based on the past invention and innovation while relating to the prevalent situation. This will also help in predicting the future trend of the industries based on the drift and inclination of technological integration in the industrial sector.
In addition, the theoretical framework in section (2.3) will also investigate the impact of industrialization on the nature of the natural environment today. The analysis of the current environmental conditions as caused by the industrialization will further help in the prediction of the future environment. From the examination, possible remedies will be drawn for the improvement of the natural environment (Dangelico and Pontrandolfo 2015, p.430).
How technology has helped in edging good industries
According to Sethi, Ahuja, and Singla, (2018), the development of technology has greatly and positively impacted on the sustainability of the manufacturing industry. A report compiled by the researchers indicated that the ability of industries to remain operation with significant improvement in the production level is firmly anchored on the persistent adoption of new technology. They however put much emphasis on the manufacturing sector while offering less attention to other industrial sectors. They developed their argument on the theory of technology push and market pull. This explains that, as technology innovates and motivates new production, the demand continuously increases. However, to this view point, it is typical to concur that technology is helping in edging good industries although on the other hand, they identified some gaps as a result of technology.
Singla, Sethi, and Ahuja (2018) also conducted a study related to the technology push and demand pull. According to them, technology had more impact in the completion rate which also induced demand. The study related on the theory of “supply creates its own demand”. Technology helps in accelerating production with the manufacturing industries which is subsequently demanded. Nevertheless, this research study did not highlight and thoroughly explain the theory of supply creating its own demand, a principle that was developed by an economist during the classical times. Research reports by this study also indicated some positive correlations in the role of technology in shaping and edging good industries for the 21st century.
Kim, Mithas, and Kimbrough (2017) conducted a research intended to establish the relationship between information technological investment and the degree of risks firms undergo in the industry as a whole. According to the study, it was established that firms which engage in more integration of information technology have had lower risk occurrences. The investment of firms into technology provides a wide mitigation strategies and channels of how to reduce, control or avoid risk frequent occurrences. Nevertheless, this study limited its research on the service sector which can hardly be reflected on other industries like the manufacturing industries. Their findings are comparable to that of Singla, Sethi, and Ahuja (2018) although the studies were conducted in different industrial fields. It implies a sense of correlation across the industrial fields, technology playing a significant role in nurturing and edging of good industries.
The impacts of increasing industrial growth in the environment
Dangelico, and Pontrandolfo (2015) conducted a research to evaluate analyse the industrial attempt of “being green and competitive”, a research aimed at examining how firms in industries strike a balance between environmental awareness and market competitiveness. Various research reports have showed a negative relationship between environmental safety awareness and the competitive vie/ quest. The higher the production level of a firm, the high the impact on the go green enforcement. Industries are however, making a significant effort towards creating a positive relationship between the two variables. Trying to increase the competitive advantage while observing conservatism on the environmental impact. A conclusion by this study indicated that industrialization hampers the environment although there has been considerable exertion on reducing the negative correlation.
A research study conducted by Fearnside (2016) on the environmental and social impacts of hydroelectric dams in Brazilian Amazonia showed a minimal impact on the natural environment with a greater positive impact on both the social and natural environment. This is based on the fact the hydroelectricity is environmentally friendly. Today’s phenomenal world has seen the adoption of go green technology being invented as a strategy of reducing the negative impacts of industrial growth n the natural and social environment. Initially, industries embarked in the production of energy through petroleum but due to the social and environmental costs, there has been considerable enforcement by the responsible authorities. This has seen the continuous and persistent adoption of green energy such as solar power, hydroelectricity, the windmill power generators among others. The effort here zeroes down to the strategies of edging good industries with low environmental impacts.
The argument presented by Zhao and Bu (2017) showed a positive correlation to that of Dangelico, and Pontrandolfo (2015) as they all reported a negativity of the impact of the industrial growth and the environmental impacts. However, Zhao and Bu (2017) put more emphasis on the financial environment of a firm and its certainty of expansion into a large green industry.
From the preceding literature review, it can imperatively be noted that there is a significant and positive correlation between technological improvement and edging good industries. Furthermore, research indicate a negative correlation between industrial expansion and environmental influences. Much as there is a positive correlation between technology and industrial growth towards edging good industries, (Zhao and Bu 2017, p.5) the environment remains an issue of concern which requires further investigations and study.
Implications – the research gap
Nevertheless, the research review reflected / identified series of research gaps from different studies. The most significant gap identified is the rigidity of the studies. The studies concentrated on specific industrial fields with minimal diversity and reflection on other industrial fields. The study also identifies lack of explanation for the negative and positive (Breheny and McQuaid 2018, p.300) correlation between the variables identified. This implies a need in comprehensive study which will focus in the general aspect to bring out a general reflection of the implication which will subsequently help in drawing a general remedy to the issue and thus recommendations of edging good industries.
This section highlights the study methodology adopted by the research study in achieving the prior set goals and objectives of the research study. It is important to note that the effectiveness, reliance and validity of any research study is significantly anchored on the appropriateness and effectiveness of the research methodology. The use of appropriate research methodology helps in collecting representative raw data for analysis (Singla Sethi et al. 2018)
Research approach and justification
With the primary goal of obtaining a more reliable finding, the research study will make use of secondary research. The secondary research will encompass the review of relevant literatures in relation to the study topic. The review will make use of most recent reports which have adequately engaged and integrated the current prevailing issues so as to reflect a study applicable to the current industrial trend, as it was noted that there is persistent change in the industrial growth. Concurrently with the secondary study, the study will also involve a bit or primary research study to help in determining the validity of the reviewed reports. The secondary research study will further assist in identifying further gaps in the reviewed report findings by other authors. The secondary study will use survey method as a data collection method. The study population are the firms in different industrial sectors. A selective sampling method will be used to choose sample firms for which the study will be conducted. A few participants from such firms will be selected for discussion regarding strategies being adopted by their firms towards edging good industries (Shao and Lin 2016, p.53)
The research will make used a mixed research methodology as it engages both qualitative and quantitative research methodologies. Based on the past recommendations by earlier studies, qualitative research has been highly recommended by some scholars more especially the social researchers and yet on the other hand, the scientific researchers recommend qualitative research methodology while putting a critique on the qualitative methodology. This implies that both methods have strengths and weaknesses. Due to this insight, the study will aim at minimizing the weaknesses of the respective methodologies by using both methods and thusly, a more reliable and dependable findings are expected (Liuet al. 2015, p.917).
Details of specific data collection techniques
Based on the previous section, the study will use interview method for examining the selected few participants from the sample firms in the industry.
Proposed Analysis of Results
After all the relevant data has relating to the topic has been collected, the results will be analysed to assess the data findings. This will involve the compilation, grouping, tallying and drawing relationships from the research study. The analysis of the results will be done through thematic data analysis.
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