Business Terms Analysis: R&D, Operational Performance, and Competition

This homework assignment analyzes two articles focusing on key business terms. The first article discusses the importance of trust in R&D partnerships and strategies for repairing broken trust to gain a competitive advantage. The second article examines how new product flexibility impacts operational performance, emphasizing the importance of manufacturing capabilities in a competitive market. The analysis covers concepts like competition, industry environment, and their impact on business strategies. The author reflects on the complexities of the global business environment, considering internal and external factors, and the interplay of supply, demand, and government regulations. References to the articles used are also provided for further understanding.

Running head: BUSINESS TERMS
BUSINESS TERMS
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Author's Note:

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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.

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Business Topic Analysis:
In the first article the topic is related with gaining and maintaining trust of the R&D
partnership and how its cam be helpful in the process of gaining competitive advantage. The
author has used methods like empirical research to achieve his goal. It has also discussed ed the
process when the trust is violated (Brattström p. 8). In the second article the topic is new product
flexibility that helps the improvement of the operational performance of the companies. In order
to gain competitive advantage, the firms mainly focus on the manufacturing capabilities (Alamro
et al. p. 1175). On order to support this, the author has assimilated the views of the other authors
to support his point. Moreover, research model and hypothesis have been used and reliability test
has been done to evaluate the validity of the new product flexibility in operation management of
the firms. The author has pointed out the implication methods through management process and
pointed out the limitations of his research (Alamro et al. p. 1178).
Business Terms:
In the first article by Brattström the term competition has been identified. As the text
book reveals, the competition occurs when businesses compete for the same resources or
customers in a particular market or industry. Competition instigates the business for operating
effectively and regulate the market for the companies to make the products cheaper or better.
There are four degrees of competition (Brattström p. 9). Perfect Competition, Monopolistic
Competition, Oligopoly and Monopoly. In perfect competition, there are many sellers on an
identical product. Therefore, it is easy to enter the market and no firm can control over price.
From the second article the term Industry Environment has been identified which
depends upon the five forces model of Porter and completely depend upon the internal and

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eternal factors of the company. These include customers, supply and demand, management and
strategies used by the forms to cope up with the competitive market.
Personal Impact:
From these discussions it can be concluded that business in the recent global context is
not quite easy to understand. There are various factors that manipulate the business in the global
context which can be divided into two aspects, internal and external. The external factors include
the political, legal, social, economic and technological factors and the internal customers, supply
and demand, management and strategies used by the forms to cope up with the competitive
market. From this discussion it has also been understood that there are processes based on aching
the companies enter the different markets of the countries. From this discussion, the idea and of
business and profit has been understood. The factors of production have five elements that refer
to ecosystems around the world. There are different types of systems of business that interacts
with government. These regulate through the aids and guidance by the government of the market
in which these businesses are operating. The aspects of supply and demand have also been
understood through this discussion.

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References:
Alamro, Ahmed Salameh, Abdulkareem Salameh Awwad, and M. Anouze Abdel Latef. "The
Integrated Impact of New Product and Market Flexibilities on Operational Performance."
Journal of Manufacturing Technology Management 29.7 (2018): 1163-87. ProQuest. Web. 1
Nov. 2018.v
Brattström, Anna. "How to Deal with and Repair Broken Trust in an R&D
Partnership." Technology Innovation Management Review 8.9 (2018): 4-15. ProQuest. Web. 4
Nov. 2018.