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Formative Assessment 7

The document outlines a brainstorming session focused on generating innovative business ideas related to energy-saving technologies, IoT, and sustainability, resulting in three ideas, including a Smart Street Light System. A SWOT analysis of the chosen idea highlights its strengths, weaknesses, opportunities, and threats, while a PESTEL analysis examines the political, economic, social, technological, environmental, and legal factors influencing its implementation. Overall, the Smart Street Light System aims to enhance energy efficiency and sustainability in urban areas.

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msthygarajan
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29 views3 pages

Formative Assessment 7

The document outlines a brainstorming session focused on generating innovative business ideas related to energy-saving technologies, IoT, and sustainability, resulting in three ideas, including a Smart Street Light System. A SWOT analysis of the chosen idea highlights its strengths, weaknesses, opportunities, and threats, while a PESTEL analysis examines the political, economic, social, technological, environmental, and legal factors influencing its implementation. Overall, the Smart Street Light System aims to enhance energy efficiency and sustainability in urban areas.

Uploaded by

msthygarajan
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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Formative Assessment-7: Idea Generation and Evaluation Exercise

1. Brainstorming Session

Objective:

Generate at least three innovative business ideas based on emerging trends, technologies, and SDGs.
For your case, the focus could be on energy-saving technologies, IoT, and sustainability.

Business Ideas:

1. Smart Street Light System


Description: A system of street lights that automatically adjusts brightness based on motion
detection using IoT sensors, reducing energy consumption when there are no people or
vehicles nearby.

2. IoT-Based Waste Management System


Description: Smart bins equipped with IoT sensors to monitor waste levels in real-time and
send alerts to waste management services for optimized collection.

3. IoT-Enabled Smart Water Management System


Description: An IoT solution for smart water management in urban areas, monitoring water
usage and leakage in real-time, helping to conserve water resources and optimize supply.

2. Idea Selection and SWOT Analysis

Chosen Idea: Smart Street Light System

SWOT Analysis:

 Strengths:

o Energy-efficient: Automatically adjusts lighting based on motion, reducing energy


waste.

o Cost savings: Reduces electricity costs for municipal authorities and contributes to
sustainability efforts.

o Scalable: The solution can be implemented in urban areas globally, with potential for
large-scale impact.

 Weaknesses:

o Initial investment: High upfront costs for installing smart lighting infrastructure.

o Maintenance: Requires regular maintenance of IoT sensors and software updates.

o Technological challenges: Potential issues with sensor calibration or network


connectivity in certain areas.

 Opportunities:
o Growing demand for sustainable solutions: Increasing global focus on energy
conservation and sustainability.

o Technological advancements: Advancements in IoT, AI, and sensor technologies


could make the system more efficient and cost-effective.

o Government policies: Potential government support or incentives for green


initiatives and smart city projects.

 Threats:

o Competition: Other smart city solutions that also focus on energy efficiency might
pose competitive challenges.

o Regulatory challenges: Government regulations on the integration of smart


technologies in public infrastructure.

o Public resistance: Initial resistance to adopting new technologies due to concerns


over costs and system reliability.

3. PESTEL Analysis

Political:

 Government policies and incentives for sustainable solutions, especially in smart cities, can
play a positive role in the adoption of smart street lighting. However, regulations on data
privacy or technology usage in public spaces could create hurdles.

Economic:

 Economic conditions affecting municipal budgets may slow down the adoption of smart
infrastructure, especially in developing regions. However, long-term savings in energy costs
can make it a financially viable option in the future.

Social:

 Public awareness of environmental sustainability and the need for energy-saving initiatives is
increasing. As citizens become more environmentally conscious, they are more likely to
support and adopt smart technologies like smart street lighting.

Technological:

 Advancements in IoT, AI, and sensor technologies enable more efficient motion detection
and energy-saving capabilities. The development of 5G networks and low-power wide-area
networks (LPWAN) could further enhance the performance and scalability of the system.

Environmental:

 Smart street lighting systems directly contribute to environmental sustainability by reducing


energy consumption and carbon emissions. The solution aligns with global sustainability
goals by optimizing resource usage.

Legal:
 Legal concerns around data privacy, especially with motion sensors collecting data in public
spaces, need to be considered. There could also be challenges with the regulatory approval
of IoT-based systems for public infrastructure.

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