Question

QUESTION 10 What is the role of innovation in globalization? What would be the appropriate training in international business education in relation to this important featured Provide examples

Answer 1

What is the role of Innovation in Globalization ?

Innovation has a vital role in the Modern form of business Globalization . Technology helps to invite Innovation door which enables the software experts to work collaborating over the network with companies around the world .Major three different components of the globalization of Innovation :

1. Global Techno scientific collaborations
2. The international exploitation of nationally generated innovation
3. New idea

Globalization presents different challenges that require different form of Innovation .Globalization tends to bring more perspective into the team meeting

Globalization and Innovation :

Its brings cultural mix , must develop border sense of culture , Understand food habits , understand multiple markets , Understand cultural position ,understand about process , mix culture , tools they are using to smooth process .

Political factor / concern- downside of global economy which might create bad impact overall level and people will be affected due to worst effect

More over the global diffusion of knowledge and technology generates positive network effects through cross politician , with establishment of own research and development

At present impact of the emerging wave / trend like Artificial Intelligent , Automation and Machine learning has yet to materialize fully

South Korea and China opted strategy in Innovation of their own. Adoption , moving to adapting and later Invention .

In case of emerging and developing countries, success depends on couple of important factor like – Quality Infrastructure , skilled labour , sound management , practice good organization . With supporting environment , trading across borders and hiring people make contract enforceable , Investment in the development of Innovation will likely bring returns

Global innovation landscape is changing but at slow space It sis called “ Innovation Paradox” The vast and rapid potential returns to investment in Innovation in developing countries , but spped of developing countries are far less as compred with their advanced counterparts