(PDF) The concept of business

Running head: BUSINESS TERMS
BUSINESS TERMS
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BUSINESS TERMS1
Summary:
In the article named How to Deal with and Repair Broken Trust in an R&D Partnership
by Brattström states that the business organizations face issues like trust violations, in the
research and development partnerships for which they repair trust, change R&D partnerships and
learn for of the enterprises so that the innovation process becomes easy and open. In order to
gain trust, the firms started to collaborate with the suppliers, customers and competitors. Thus,
the firms get competitive advantage across the industries (Brattström p. 5). These firms share
knowledge and resources for growing promising partnership into a value-destroying
predicament. This article rather discussing the recommendation about what to do for rebinding
trust but analyses the real-life examples from the trust repairing process.
In the article, The Integrated Impact of New Product and Market Flexibilities on
Operational Performance by Alamro et al. has pointed out that the NPF or new product
flexibility helps the firms in launching new parts and products into the market in changing
business environment (Alamro et al. p. 1165). According to this article, manufacturing flexibility
is the master key to maintain and develop the competitive advantage. In order to win the
competition in the market, the environment of the firms need to be strengthened so that response,
cost and delivery can be supportive of quality of production can be improved. This article
supports the method of developing new products to be the main way to improve and sustain
competitive advantage in the market. Therefore, if the strategies of the firm remain perfect, this
can help them to strive the uncertain business environment.