By Dr Ashok Ganguly (auth.)
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Extra resources for Business-Driven Research and Development: Managing Knowledge to Create Wealth
Sample text
From the perspective of the overall research scenario, the need for external funding encourages professors, and hence universities, to be responsive to societal demands. Academic departments, as a consequence, have to be much more flexible, which enables research groups to shift research interests and to move quickly into new exciting areas. From the perspective of industry, this is a valuable development and the reason why universities are seen as the primary source of competence in basic research, and complementary to different strengths of industry.
Since science has played such a spectacular role in the economic and evolutionary advances of human society, some of the reverence was quite natural and understandable. However, due to a number of factors the traditionally superior status of scientists in society now stands severely challenged. While there are a number of factors which have changed society’s attitude towards SOME GLEANINGS FROM RECENT PUBLICATIONS 21 scientists, the more salient ones are worth recalling. Scientists by nature and training tend to be more optimistic compared to the general population.
Inevitably, such a knowledge-driven process generates innumerable opportunities and forces a business to choose priorities. The choice and management of priorities then becomes the joint task of business and R&D managers. While the business managers remain accountable for the performance of the bottom line, in this process the R&D managers’ accountability is also clearly defined in measurable terms regarding its impact on the bottom line as well. This is entirely a modern way of managing knowledge for the creation of wealth.