12/27/2019 0 Comments
Management and Research - Essay Example 3. Innovation in business is a route that represents a high risk for any business endeavor. A higher risk implies the possibility of failure is more likely than normal. Many times the technological concept is solid, but not economically viable. Another deterrent is when a firm runs out of funds to continue developing a concept or the market does not accept a new product despite its technological superiority. 1. An individual can achieve an internal state of mind that allows for creativity since the person controls all dimensions to take the idea and convert into innovation that creates income or contributes a valuable service to society. Universities use innovation as a general guideline to foster R&D. Companies focus on innovation to create value. Governmental organizations use innovation to spark economic activity. Non-profit organizations value innovation since it opens new doors that lead to solutions to solve social, environmental, and other community concerns. \ 4. The relationship between company creativity as a function of the creativity of the individual associated with the firm is a hypothesis that a mathematical model could test to determine the correlation between the independent and dependent variable. In a business model with multiple variables such as structures, routines, incentives, etc. a multivariable regression model can accomplish the desired objective. A company that uses employee creativity to as part of its operating activities is IBM with its wide array of personalized high tech business solutions. 5. Collaborative research agreements allow for technological transfers among participants in the research alliance. Different geographical points across earth have certain characteristics that are unique to the region and may be of interest for foreign investigators, thus collaborative research agreements are imperative to foster
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