SDG9- Driving business to sustainability

Innovation towards balanced development

Dr Ying Zhang

We live in a world where we were allowed to create so much wealth in human history. However, unfortunately, we have badly brought up imbalanced development, inequality, and unsustainability. Think of the continuous imbalance and inequality in manufacturing value added per capita, which is, for example, only $100 in least developed countries compared to over $4,500 in Europe and Northern America. Such a phenomena do not only exists between nations and industries, but also exist in the field of innovation. Although innovation is meant to help liberalize our labor work from inefficient to precisely, we still struggle with our exaggerated and unnecessary dissolves, and fail in taking our responsibility to a broader community, including our offspring.

The core of this issue has two dimensions. The first is imbalanced on equal access to, and distribution of resources between people at the same time. This is called Panel Well-being Failure. The second is a non inclusiveness of our current business model to our offsprings well-being in the long run, which is called Timeline Well-being Failure. Moreover, the integration of PWF and TWF became the source to exhaust our planet. So how can we deal with these dimensions and prevent severe scenarios for people and our planet?

In this video, I will explain what is needed to shift the dynamics behind PWF and TWF, and how to work towards the balanced development for sustainable and eco-global society. Let's have a closer look at PWF and TWF and the dynamics behind them. Firstly, the Panel Well-being Failure PWF, calls upon us to form a joint force, at both the cognitive and behavioral level. At a cognitive level, we need to embrace inclusiveness and disregard discrimination. For this, we need a holistic view to social economic accountability that goes beyond economic dimension. We should appreciate the uniqueness of each other's talent, and consider it as exceptional travel for innovation. We also need more than agreement of intention. At the behavioral level, we have to take actions to pursue what do we want for the whole community. We need to build a new regulations and the legal reframing beyond national borders. Via this way, we can converge the gap, and help inferiors to learn and catch up, as well as help superiors to grow into even better entity. Secondly, the traditional economic accountability has to fit out in order to solve the Timeline Well-being Failure. We showed prioritized an alternative measures system that incorporates circular economy. Technology and innovation can helps us building it up via a non-linear ecosystem, therefore a closed loop from waste to resource can be built up. Thirdly, to prevent a disaster costs by interaction between Panel Well-being Failure and Timeline Well-being Failure, along round strategy at a global level, including inclusiveness vision and sustainable infrastructure for the future industry and circular economy, needs to be supported. For instance, the Belt Road Initiative, initiated by China in 2013, is a developmental strategy aiming to bring a joint prosperity and infrastructure development to more than 150 countries and international organizations, all over the world. Once we shift the dynamics behind the PWF and TWF, a new concept of globalization will emerge. New globalization means each actor of the new system is not only independently self-sustained, but also ecologically dependently cooperated. In this way, a sustained local but interacted global community can involve. To get there, we need to bear in mind that without technology and Innovation, industrialization will not happen, and without industrialization, development does not happen. But we need a more adaptive innovation approach. Approach that creates new jobs and demand while replacing old ones with AI. This means that the exclusiveness focused to job list innovation needs to be involved to "inclusiveness focused sustaining innovation".

When we related this to the SDGs, we can see that SDG 9 is actually the backbone of all SDGs. SDG 9 is engine to drive industrial transition, and is economic foundation of society and the community. Besides, innovation in infrastructure and industrialization is a key to facilitate revolution to the new order of the world. In new world with a sustained and sustainable system, we will be able to avoid Timeline Well-being Failure and Panel Well-being Failure. Let's embrace our positive force to kill the issues of our current to globalized world. Our joint effort can move us to a world where a generally sustained new globalization will be born.

More information about the lecture in Coursera