Scientific research has been the foundation for many of our most significant technological breakthroughs, from insulin to the Internet. It is only natural, then, that science and business should collaborate since businesses need new technologies to survive, while scientists benefit from commercialization of their discoveries.
But this isn’t quantum physics always the case. Some scientific inventions fail to get into the commercial market. This may be due to the method by which innovation credit is distributed. For instance, a scientist might include their technician as a co-inventor but this does not necessarily reflect the contribution each person made to the research that led to the discovery. The differences in mindsets and goals that limit the exchange of ideas are more important. Business is concerned with sustainable profits, as an example but science is focused on an amount of sustainability that doesn’t cause over-exploitation of resources.
In the end, the most important factor to the success of science and business is collaboration. Scientists and businesspeople must learn to communicate in the same way and listen to each other’s issues, and look for innovative ways to make connections between the two fields.
Fortunately, top universities like Woxsen offer integrated business and science programs that provide students with the best of both worlds. In these programs, students focus on a chosen area of science, and take courses from the general management curriculum. This program teaches the skills needed to succeed in many areas of business, including intellectual property management and mutual funds, sales of technical products and many more.