ROLE OF BUSINESS

Otto Chui Chau Lin

Chapter 8 in Innovation and Entrepreneurship:Choice and Challenge, 2018, pp 59-64 from World Scientific Publishing Co. Pte. Ltd.

Abstract: The business community, in the broad sense, consists of the manufacturing industry, service industry, wholesale and retail sales, trading and commerce, banking and financing, logistics and transportations, etc. In all these sectors, technology is an important element. It is the mainstay of the economy of a country, a state or any economic entity. The strength of the business sector reflects, to a great extent, the power of any nation. It is little wonder that, after the Industrial Revolution, the gross domestic product (GDP) has been regarded as a primary measure of national strength. The business community, as defined above, contributes the major component of GDP. The GDP per capita, likewise, has been regarded as a measure of the wealth of a country…

Keywords: Innovation; Entrepreneurship; Innovation System; National Innovation System; Knowledge Economy; Knowledge Transfer; Technology Transfer; Technology Diffusion; University-Industry Interaction; Commercialization of Scientific Research; Roles of the Government; Roles of the University; Roles of Technology Institute; Environmental Factors of Innovation System; Innovation Helix; Innovation Quartet; Science Parks; Incubation; Incubator; Competitiveness; Innovation Competitiveness; Hard Power; Soft Power; Sustainable Innovation; Entrepreneurial Spirit; Globalization Age Competition; Management of Change; Hsin-Chu Science Park; ITRI (search for similar items in EconPapers)
JEL-codes: L26 (search for similar items in EconPapers)
Date: 2018
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