The Concepts of Technology and Patent
Much of the techniques applied in the business world are engineered in an academic environment. An academic environment provides decisive solutions which answer problems of product orientation in a real market environment. A good example of this analysis is chapter five and chapter six of Hisrich et al (2010) 8th edition on entrepreneurship. This study will attempt to prove that Hisrich theoretical approach in relation to technology and patenting concepts is decisive to answer to challenges in a practical airline industry setup. The study is segmented into two main sections. Firstly, an analysis of the two concepts adopted from chapter five and chapter six. Secondly, the study will present a coherent discussion seconding the two concepts.
Technology Concept in Chapter Five
Hisrich (2010, p.133) assess the integral role of technology in empowering global organizations towards realization of decisive prudent managerial skills. For a global organization, the client-product-market driven strategy seems appealing since this approach seek to ensure that organization responds to direct demands of the client. Ideally, technology facilitates several thresholds of product development and product orientation. Research on the nature of the product is entirely client driven. Therefore, in contemplating about appliances it is integral to adopt Hisrich approach in relation to product development.
In business, integration of a business strategy and competence plan (in relation to technology) requests the consequential operations of the Research and Development department. Thus in enrolling technology, it is vital to request the RD department to investigate on the importance of ratings of any given technology. Also, Hisrich (2010, p. 132) examines the integral role of search engines in facilitating the company with much of the needed information. In fact in the later page, Hisrich covers the impetus role of business association in increasing productivity patterns. With time, technology proves a suitable platform to search for reliable business associates. Now the force behind business association is based on the knowledge that multiple layers of specialization have moved product orientation to-do-it-all approach to a to-do-best approach. For instance, in applying Hisrich approach in an aviation industry, it is good to note that technology will facilitate the determination of commercial inputs and consequently the nature of outputs.
As a result, scheduling technology innovation in the aviation industry will be subsequent towards realization of better policies. In Hisrich thoughts, an internal technology invention seems an appealing strategy. For example, the development of quality assessment software will be decisive in ensuring that quality standards are maintained at first class orientation. A good example of this system is an ERP system.
Patenting Concept in Chapter Six
Internal organization technical provisions may conflict with local or international legislative requirements. However, Hisrich (2010, p. 161-166), covers on the decisive role of understanding intellectual property rights and how this can be applied to safeguard a company against reprisal from national or international legislation systems. It is justifiable to apply this concept since the organization will be in a better position to pursue a number of technologically driven products. In aviation industry, products are increasing attracting patenting concerns. The underlying reason is because in the last one decade, there has been an influx in the number of potential players in the industry. While traditional players are attempting to present genuine products, newer players will often reformulate a product to make it appear original. This means that patents will impose on a substantial resource allocation in the incremental budgeting concern.
Further into this application, is the knowledge that the proposed software development strategy attracts vicious reprisal in relation to patents. Hisrich (2010, p. 166) covers algorithms that are considered in developing the nature of pure thoughts. In this light, patents should be considered a decisive mental process that seeks to move an organization from one step of innovation to the other. In particular, the software itself is a computer. Suh (2010, pp. 377) argues that a software- that is computer code, is not considered a statutory subject matter. Decisively, this means that codes are only patentable if proof of originality can be proved. Patentable software is one that seeks to respond to challenges which were not responded to by previous systems
Much of Hisrich’s debate is centered on the various stages of turning a company into a global player. Thus, when it comes to product development it is inopportune that the country will have to comply with international standards. Technically, the airline company is a close replica of a company in a similar turf. However, there are various benefits that can be affiliated to Hisrich’s concepts. Firstly, if a company applies a technology strategy to empower innovation, the company will stand a better position to effectively manage its resources, projects and as well make critical levels in the development of a manufacturing process. Sari et al (2012, pp. 14-15) second this opinion in what the trio justifies as an increased access to valuable information in a corporate, clear global view. As a result of better and increased access to information, the company will be in a better position to manage its resources. Also, the prudent and tighter controls for financial compliance declaration are inversely facilitated at this point.
Again, a technology driven approach will be vital in expanding the sales pool enabling the firm to achieve considerate microeconomic goals. Primarily, research is oriented towards the development of products which are cost effective but respond to direct needs of the society. In this light, seconding Hisrch approach is integral in orienting the company to a greater financial stability level. Lastly, a technology based approach will be instrumental in ensuring that the firm is in a greater position to restructure internal organizational policies; for instance, procurement policy which amount to customer demands.
Conversely, it is good to consider the aggregate protection of corporate products in the wider commitment towards the creation of a competitive approach. Putnam (2004) reflects on the contractual benefits of patenting as applied in a business organization. Top of the list is the prevention against theft of the invention. Ideally, applying Hisrch approach is technically fronted towards establishing a reliable licensing/ inverse investing stratagem. In fact, the licensed product will add value to the list of the company assets thus improving the value of the company. Secondly, the licensed product will boost competition since the product improves the overall niche of product development and as well improving on the quality of products development. Thirdly, increased usage of innovative products will conversely encourage the building of higher profits margins. Indeed, the ability to seclude other competitors will enable the company to leap higher prospects in relation to profits (Andergassen 2010, pp. 202)
Ideally, implementing a business strategy is inspired by the academia-driven technical strategy. Academics present visionary analysis on what happens in a practical market. Technically, this approach is designed to ensure that decisive measures and scope are designed to inspire a learner on the fundamentality of observing a theoretically based approach for the enrollment a coherent industrial setup. However, distancing from theories, this study has assessed chapter five and chapter six of Hisrich et al (2010) 8th edition on entrepreneurship. The study picked two integral concepts courtesy of technological concept and the patenting concept, and as a result, the study has assessed their imperativeness in a real business environment.
Andergassen, R. (2010). Product market competition, incentives and fraudulent behavior.
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Hisrich, R. D., Peters, M. A., & Shepherd, D. A. (2010). Entrepreneurship (8th
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Putnam, J. D. (2004). Costs and Benefits of Genomics Patents. American Journal ofPharmacoGenomics, 4(5), 277-292.
Sari, N., Hidayanto, A., & Handayani, P. (2012). Toward Catalog of Enterprise ResourcePlanning (ERP) Implementation Benefits for Measuring ERP Success. The Journal ofHuman Resources Management Research, 4, 1-16.
Suh, D., & Hwang, J. (2010). An Analysis Of The Effect Of Software Intellectual PropertyRights On The Performance Of Software Firms In South Korea. Technovation, 30(5-6),376-385.