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Identification of facilitators and challenges of adopting new technologies
Thermax is a leading engineering and development company, which specializes in sustainable solutions of environment and energy. Thermax is more invested in helping their customers achieve better productivity and maintaining a safe environment (Thermax, 2020). There are several facilitators and challenges, which were faced by Thermax while adopting new technologies.
Facilitators for adopting new technologies by Thermax
Thermax has been focusing on new technologies like energy efficient technology and eco-friendly technologies. They have adapted with the waste management technology, eco-friendly cooling technology, FM boiler for global market and even power generation with the heat of waste. Many competitor industries of Thermax have been facing various challenges about this kind technology adoption, which is giving this organization a competitive edge in the global market (Thermax Global, 2020). Other companies have been facing environmental issues in the workplace with high quality products and service management, because of this kind of challenge. However, Thermax has provided a waste recovery technology, which helped them build a green energy process by innovating a solar energy storage technology. The goal of Thermax is to build a sustainable business by considering the energy and environmental factors in the workplace.
Figure 1: The benefits of Sustainable business for adopting new technologies
(Source: Influenced by Thermax Global Case Study, 2020)
Thermax has adapted with the core energy business approach to keep a sharp eye on the breakdown maintenance of the water and energy technology in a suitable manner. This company has focused on the reduction of non-renewable energy resources in business consumption by innovating heat recovery from waste management technology. They have also adapted with the chiller heaters of absorption in the yards to utilities the waste management with exceptional services. This kind of technology adoption has caused optimum energy consumption in office buildings, this kind of implementation has also reduced the carbon emission in the environment (Thermax Global Case Study, 2020). Reduction of carbon emission has proved their business model more effective in the target market and helped them build a sustainable business in the global market.
Their green system initiative has earned them the opportunity to sustain green credits in business model, they are more prudent in business growth for energy and environment. This kind of approach has also earned a better demand in management in the Thermax ltd. The company has also enhanced their operational efficiency by adapting this new technology and dedicated their efforts in environmental safety. Thermax has not just improved their business approach, but lowered their operational costs by adopting the waste management technologies in the workplace. Their waste management and sustainability in the energy environment has earned them great respect in the Hudson Yards community and in the world’s various power generation sectors (Shahzad et al.2017). High GDP growth can change the global water and waste management system by 2050, Thermax has been concerned about the following issue and accepted that fate to change their sustainable growth in environmental and energy sectors in future.
Challenges of adopting new technologies by Thermax
Thermax has been focusing their efforts in the sustainable environment and energy in their business sectors to improve their waste management, heating and cooling system and so on. Although they were also concerned with the BP farm boiler, the bio fuel, the pesticide effects on the mass population and so on. These residual effects are the main concern for the green environment and this challenge has been giving severe competition to many UK and multinational companies. Many companies could not conduct the great logistics and other management tools because of the environmental laws of every country. The company Thermax has also faced this problem and competition as well. They are struggling with the biomass-fired boiler, they are facing issues of space constraints. They are also facing challenges in the vaccine plant for the biomass fuel engagement (Thermax Global Case study, 2020). Biomass fuel has been giving tough competition at the expert fields in the Thermax process for technology advancement.
Demand for the capital goods was also the issue for the company Thermax in the supply chain management, increment in consumption and fields of investments has created disruption in the Pune-based branch of Thermax. The head facilitator Shirish Shahane has raised concerns about the company’s economic disturbances due the increment in the consumption. Farmers all across the world have raised concerns about the negative sides of pesticides in nutrition management. Green revolution in the field of agriculture has raised concerns about the clean water management (Kundu et al.2019). The new technological adoption has raised concerns about budget management, new teaching method implementation in Thermax as well. These trivial issues has never stopped the face of increment of Thermax. They may have issues in the FM boiler or biomass management and clean water management supply due to new technological adoption. However, they have made new approaches in the field to gain new ideas like solar energy management and renewable energies to make changes in the field of new technological adoption.
Reference List
Kundu, M., Krishnan, P., Kotnala, R.K. and Sumana, G., 2019. Recent developments in biosensors to combat agricultural challenges and their future prospects. Trends in food science & technology, 88, pp.157-178.
Shahzad, M.W., Burhan, M., Ang, L. and Ng, K.C., 2017. Energy-water-environment nexus underpinning future desalination sustainability. Desalination, 413, pp.52-64.
Thermax (2020). SUSTAINABLE SOLUTIONS IN ENERGY & ENVIRONMENT. Available at:https://www.thermaxglobal.com [Accessed on: 31.12.2020]
Thermax Case Study (2020). Energy-efficient Cooling at Hudson Yards with Multienergy Chiller-heaters. Available at: https://www.thermaxglobal.com/case_studies/ [Accessed on: 31.12.2020]
Thermax Global (2020). Energy and Environment Solutions for Sustainable Growth. Available at:https://www.thermaxglobal.com/wp-content/uploads/2020/12/4426_Thermax_Corporate-Bro_July-2020.pdf [Accessed on: 31.12.2020]
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