The Road to a knowledge based Smart Economy:
Collaboration between public and private sector: Represent -> Regulate -> Develop
Leverage diversified intellectual capability in the city
Establish a task force to implement the initiatives
Setup open data platforms for entrepreneurs to work on / from (not for the government to consolidate)
Involve more SME's in the process of innovation
Collaborate with government and gain inclusive participation from the private sector
Role of Corporates
Some organizations have begun to experiment with various new tools and concepts. Whether it be a matter of ethics or just strategic advantage organizations are internalizing sustainability principles. Examples of some of the world's largest and most profitable corporations who are shifting to sustainable practices are:
Ford, Toyota, BMW, Honda, Shell, Du Pont, Swiss Re, Hewlett-Packard, and Unilever.
An extensive study by the Boston Consulting Group reaching 1,560 business leaders from diverse regions, job positions, expertise in sustainability, industries, and sizes of organizations, revealed the many benefits of sustainable practice as well as its viability.
The three major barriers to preventing organizations to shift towards sustainable practices are:
Not understanding what sustainability is
Having difficulty modeling an economically viable case for the switch
And having a flawed execution plan, or a lack thereof
Therefore the most important part of shifting an organization to adopt sustainability would be to create a shared vision and understanding of what sustainability is for that particular organization, and to clarify the business case
Role of Government
Conducting a national review and, where appropriate, improve the processes of decision-making so as to achieve the progressive integration of economic, social and environmental issues in the pursuit of development that is economically efficient, socially equitable and responsible and environmentally sound.
Monitoring and evaluating the development process systematically, conducting regular reviews of the state of human resources development, economic and social conditions and trends, the state of the environment and natural resources.
Ensuring transparency of, and accountability for, the environmental implications of economic and sectoral policies; and access by the public to relevant information, facilitating the reception of public views and allowing for effective participation.