Paper Example - Environmental Analysis for Invision LenseTechnological Trends

Technology adoption is high in society with technological solutions being sought to improve the overall function of the human body (Nambisan, 2013). Technology is viewed as one of the most efficient approaches of improving human function today, and the consumers are highly receptive to new inventions or improvement of existing technology (Hogle, 2005). There is a significant technology gap in existing products that improve human function, such as eyesight. This is a substantial opportunity for the Invision Lens, which will meet the current need to improve vision, especially for those having focusing problems or engaged in intensive eyesight activities. Today, technology has made it possible to create spy lenses which have an embedded camera and are increasingly becoming acceptable to use by the consumers. Instead of invasive surgeries to improve eyesight, the Invision Lenses will be instrumental in providing efficient and affordable alternatives.

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Political and Legal Issues

From a political viewpoint, global markets are increasingly becoming unified through government trade agreements, which increases the overall market for Invision Lenses. Technology has made it possible to go beyond national boundaries in the product sales which increases the overall potential to market and sell the lenses through online avenues such as social media (Yazdanifard & Li, 2014). However, there is a legal challenge facing the Invision Lens in need to meet the different taxation requirements across different countries that the product will be sold. The ability to patent the Invision Lenses will protect the new product from the direct competition, which can negatively affect the overall sales in the long term. Patenting the Invision Lenses will be instrumental in selling production rights, which will make the product financially viable in the long run (McFarlane, 2013).

Social and Cultural Trends

The social and cultural perspective on wearing glasses has significantly changed over the years due to the realization of the importance and benefits of using lenses to improve or correct eyesight. Culture has been substantially influenced by the social and cultural views on technological inventions, which has increased the acceptability of new products, which improves human function (Hogle, 2005). As such, the Invision Lens has a high potential today due to the high acceptance of technological solutions for human body problems as well as those that can improve function.

Demographics

There is a high number of people in the population who will directly benefit from the new technological applications such as the Invision Lens. Students and those with vision problems can benefit from the Invision Lens by helping them to magnify numbers in books, writing boards, and also in computer monitors (Glewwe, Park, & Zhao, 2016). Those who work in eyesight intensive industries which involve taking measurements, counting, and observing changes in phenomena will benefit from the Invision Lens, which will be of the essence in improving the efficacy of their eyes.

References

Glewwe, P., Park, A., & Zhao, M. (2016). A better vision for development: Eyeglasses and academic performance in rural primary schools in China. Journal of Development Economics, 122, 170-182. Retrieved from https://www.sciencedirect.com/science/article/pii/S0304387816300402

Hogle, L. F. (2005). Enhancement technologies and the body. Annu. Rev. Anthropol., 34, 695-716. Retrieved from https://www.annualreviews.org/doi/abs/10.1146/annurev.anthro.33.070203.144020

McFarlane, D. A. (2013). The Advantages and Disadvantages of the 2011 New Patent First-to-File System. JL Pol'y & Globalization, 18, 45. Retrieved from https://heinonline.org/hol-cgi-bin/get_pdf.cgi?handle=hein.journals/jawpglob18&section=7

Nambisan, S. (2013). Information technology and product/service innovation: A brief assessment and some suggestions for future research. Journal of the Association for Information Systems, 14(4), 1. Retrieved from https://aisel.aisnet.org/jais/vol14/iss4/1/

Yazdanifard, R., & Li, M. T. H. (2014). The review of AlibabaaEUR s online business marketing strategies which navigate them to present success. Global Journal of Management And Business Research. Retrieved from http://journalofbusiness.org/index.php/GJMBR/article/view/1565