Market opprotunity factors - Essay Example

An innovative corporation that invented an environmentally friendly product is Papyrus Australia (PPY). The patent protected product that the firm developed is called banana ply paper. Banana ply paper is a new type of paper made from the trucks of banana trees. The trunks of banana trees prior to this invention were a waste product. The demand for paper is huge. In the United States alone there are 2,200 newspapers. The total production of paper worldwide in 2011 was 4,341,000 tonnes of paper (Paper, 2011).

An advantage of the product is that banana trees are a renewable prime material source. Banana ply paper is a substitute product to pulp paper. Some of the other environmental benefits of the production of banana ply paper are that the production facilities use cero water and 99% less energy that traditional paper mills. The world cannot keep cutting down trees for the production of paper. Deforestation is a major environmental concern and one of the causes of global warming. The company’s business model is to use licensing to generate revenues from its patent.

A socially responsible strategy that the firm can use is to seek expansion in Africa which holds 53% of the banana plantations. Other products that the company can produce along with paper include packaging, furniture, building, construction and other industries. Some of the characteristics and attributes of Papyrus technology products include water resistance, fire resistance, and UV resistance (Papyrusaustralia, 2012). The future of the company is very bright due to its superb product and the environmentally friendly practices of the company.

ReferencesPaper.org (2011). Statistics. Retrieved May 17, 2012 from http://www.paper.org.uk/information/pages/statistics.html Papyrusaustralia.com (2012). Products. Retrieved May 17, 2012 from http://www.papyrusaustralia.com.au/products/