Innovation and Technology Management : Assignment
Added on 2020-01-16
12 Pages3736 Words167 Views
EconomicsPolitical Science
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INNOVATION AND TECHNOLOGYMANAGEMENT
Table of ContentsIntroduction...........................................................................................................................................2Literature review and critical evaluation...............................................................................................2The reality of WIPO and its potential.................................................................................................2The work of WTO: A review...............................................................................................................6The review of Brexit decision to take the UK out of regulation or protection of the European Union...........................................................................................................................................................7Conclusion.............................................................................................................................................9References...........................................................................................................................................101 | P a g e
IntroductionThe main objective of this study is to comprehensively analyse and critically review thereality as well as the potential of the organizations like World Trade Organization (WTO) andWorld Intellectual Property Organization (WIPO) with respect to provision of properprotection to the innovator from the other regional or defence structures such as NorthAmerican Free Trade Agreement or NAFTA and European Union or EU. From this studythere will be a scope for a holistic understanding regarding the vital trends and developmentswith regard to technology which helps in innovation and also the connection of those trendswith the international business organizations. Moreover, there will also be scopes to properlyevaluate the changes or continuity in the international business that will be done in this studywith the help of theories and change models. An in – depth understanding regarding thecommon trends of the modern era, the demands of the people and the effects of technologywith respect to respective marketplaces will also be done in the study which will in turn helpin further development of knowledge based on the different innovative actions. In addition toall these, the role played by innovation and its connection with the strategic issues of theinternational business firm will also be evaluated and highlighted. In essence of this study, itis a definite fact that innovation of business processes always helps in successful alteration ofthe various ways of converting the inputs into effective products and services that will help ineffective and efficient high quality product and service delivery to the customers that willsatisfy their specific needs and demands. Most importantly, this study will provide scopes forhaving a detailed insight about several factors of contingency like the size of the businessorganization, environmental unpredictability and the complexities related to use oftechnologies and their effects on the choice of business processes by the firm. Literature review and critical evaluationThis section of the study will provide an in-depth analysis regarding the working pattern andthe potentiality of the organizations like WIPO and WTO which are involved in protectingthe intellectual property rights and different innovation processes for effective trade andsubsequent economic development. The reality of WIPO and its potentialWIPO or the World Intellectual Property Organization is basically a global forum whichprovides services for intellectual property rights, information, rules and cooperation. Being2 | P a g e
established in the year 1967, WIPO is regarded as a self – funding agency situated in theUnited Nations having its headquarters at Geneva, Switzerland and comprises of about 189member states under it. WIPO has the responsibility of promotion and encouragement of thepeople about the intellectual activities and working in a creative way and also helping in thetransferring of technology with relation to different industrial properties in the developingcountries which can in turn help in the economic and social development of the membercountries. According to Cumming and Zahra, 2016, innovation is definitely an importantaspect in today’s business which is facing a tremendous effect of globalisation and businessinnovation models really help in the successful transformation of the different inputs intopotential product or service outputs and thus compete successfully in the global market. Inessence of the significance of innovation in international business, WIPO really plays animportant role in providing necessary policies in order to shape the different intellectualproperty rules internationally which can be very effective for a world that is first changing asseen in the 21st century. It is likely that there will be different disputes related to theinnovation of the different business processes and WIPO provides international services inorder to protect the innovation processes throughout the world and thereby also help insolving the problems and disputes between the member countries. It is regardless to mention that, technology in the modern era plays an immensely importantrole with respect to innovation and as opined by Kim and Nelson (2000), technology isrightly regarded as the driving factor and the enabler for innovation. Fig: Factors for successful innovation of business (Source: Kim and Nelson, 2000)3 | P a g e
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