Discuss the role of university research in innovation in the knowledge economy - Essay Example

?Role of Universities in Research and Innovation Introduction Research is important in that it produce knowledge, which is applied inside and outsideresearch setting. It forms a foundation of innovation improvement and policies in all parts of the universe. There are two types of research, the basic and applied research. Basic research is a study aimed at greater understanding of the phenomenon under study. The main objective of applied research is to answer and address real-world challenges. It includes systematic analysis of practical part of science. It deals with practical challenges and uses experimental methodologies to solve them. Research and innovation is linked to social and economic development of a country. In Europe, most projects contribute to minimizing regional disparities by improving innovation and research potential. Research has been growing since the end of Second World War. Most firms participate in applied research because it can be marketed easily. Most industries can collaborate with universities specialized in applied technology. Mechanism of Research Governments have made policies to structure innovations and research in the universities. They ensure that there is a return on public investments in terms of social prosperity and economic growth (Rothaermel & David 2008, p.17). The role of different actors in the field, their abilities to conduct the research currently are on transnational research networks. Information on research and innovation is necessary for policymakers so that they may be able to see how they can help the universities to promote their innovation and research in the market. Universities act as a main source in the nation’s research and innovation in higher education although this varies per countries according to the landscape of the institution. Some countries have structured research and innovation to include universities, polytechnics, colleges, research institutes, non-governmental organizations, and national laboratories whereas others have a homogeneous system (Szu-chia, 2012, p.53). The labor among the institutions is shared, in developing countries the research and innovation is done by the universities. Funding of research and innovation is the main challenge of universities. Shoddy structures and insufficient resources hinder smooth research activities. Government support is not enough in most institutions. In most cases, universities collaborate with industries in conducting research. Universities have people, units, and functions, which are involved in partnership actions that have an effect on technological and economic development. They do this by licensing and spin-offs. Universities differ in the way they organize their programs or activities so as to foster innovation. Research institutions, majorly in the United States, are more concerned about their societies in the recent past. This is because they represent the inner resources of knowledge in those societies. Competency of individuals, knowledge and skills and their application has improved significantly in the economy where these individuals work. Most countries focus on the development, application, preservation, and discovery of all forms of knowledge and skills. These are the humanistic, scientific, and social knowledge. They therefore assist publicly and privately funded universities. The institutions then appreciate these contributions by appropriately contributing to the development in economy. They enhance knowledge linking activities, which improve technology commercialization, enhance workers’ competency, and assist community and organizational change and increase competency of professionals (Chen, K & Kenney, M 2007, p 1056). They also provide social, economic, and cultural organizational analyses to train and educate individuals and to bring individuals and groups concerned about rational, informed discourse on matters of common concern (Gebauer et al 2005, p.650). The capabilities of these universities are vest in many places, not only schools of business and engineering. However, most of these capabilities are not utilized by larger part of the society; academic faculties that are typically sheltered offer them. This is because most universities are not fully staffed and have been well organized to mobilize diverse human resources. They have a wide range of knowledge and skills to serve the public, especially the rate of change characterizing the current world. Most reach show that universities can boost economic development in a number of ways, which can make an important contribution to wide regional economic, social and technological development goals. Economic research enables a region to recognize strategic resources and essential gaps in its industrial sector, infrastructure and service capabilities (Chaifetz et al 2007, p.6). Many programs offer continuous regionally aimed research, technical assistance, and training to government and business leadership on matters effecting capabilities and opportunities of the region. Activities of basic and applied research at the leading universities offer a new product improvement that lead to the creation of new companies and hence creation of job opportunities. Productions of new machines lead to production of new products and services, hence new company. Expanding the roles of Universities Commercialization and technology transfer initiatives provides the means in which basic research and its market place meet one another. Banking firms, manufacturing industries and other research firms interact in this process. This is where ideas are converted into products, which then drive the new market and business formation. Most of the universities that have ventured in technology commercialization processes on top of basic research have substantially contributed to the formation of new industries and creation of jobs in their regions. Licensing and patenting services are not the only activities done by these universities (Ssengooba et al 2011, p.9). They also provide access to service providers in business, technical assistance, marketing and distribution links as well as connection to sources of initial capital. Some affiliated programs in the university connect each other in terms of technology and entrepreneurship in order to facilitate and increase technology transfer and commercialization. The assessment of the workforce needs to be continuous to enable universities to collaborate with other employees. Assessment is done by comparing input and output. It is done to develop basic and continuous education programs that support the skills needed by universities to be economically competitive. Organization management and assessment in development is related to the fact that organizations must change and adapt to the changing market, demographic and economic conditions. Assistance is needed in making the transition and getting new management skills. Some universities have embarked on having a relationship with big organizations with many employees where they will provide the expertise on the location, not to give training and education but to provide development of the organization, analyze workforce and conduct management (Kruss, G 2012, p5). This is essential to ensure global competitiveness and change in the company. Organization of interdisciplinary knowledge for capacity building and problem solving is important in providing skills development programs and any new area of practice. Some areas like desktop publishing needed by industries require competency that a single department cannot offer in the university thus training is required (Chunhua et al 2010, p.100). Some certificate programs through schools of continuing education and extension division provides the needed services here. Universities can act as a centre where community forums and leadership briefings held in order to introduce new opportunities for economic development and new ideas. Without the support of the complex issues and understanding of the public and leaders, the issues affecting development of regions is difficult to make any change. There are universities that have programs that give civil education to the communities around them (Fogelberg 2013, p.132) Role of Universities in Economic Development Many research programs that support regional economic development research universities just like many communities have externally funded activities that also have a deficit of sufficient sources of support and range of services. It is important therefore for universities to contribute to not only the workforce readiness or technology but also to enhance regional capability and innovation culture that is very important to economic development showing knowledge based economies that are operating globally. Many universities have now focused on this issue, activities contained in the matrix like regional studies, leadership briefings; technology commercialization, community forums, and others need to be included in the university’s contribution to economic development in a region (Bauer & Lane 2006, p.70). A challenge in economic development of a region is that efforts need to be drawn from many institutions, not a single department, but several schools to get the required knowledge resources. The values, economy, capabilities of a community and the competence and orientation of workers must all be transforming and developing continuously across a large range of knowledge, changing technology and global conditions. Universities must create a way to mobilize knowledge resources all over the campuses. Research Universities Can Do Better Universities should adopt the ideas of open innovation, which believes that institutions can use internal ideas as well as external ideas to advance and market their research and technology. Firms should patner with others by sharing opportunities, rewards, and risks. They should borrow or buy inventions from other firms. In addition, internal technology can be taken to other companies through spin-offs or joint ventures. Moreover, instead of reducing the challenges in the university on the need for vocational teaching, or more applied research, there is the need to develop institution mechanism in which there is exchange, organization, and distribution of knowledge to the public that is the main resource. Knowledge economy with innovation depends on the pursuit of research and scholarly pursuits. An effective professionals or worker is an educated person who is flexible and can adopt to change and learn new things. Universities should not leave research and innovation that they do well in, they should continue to expand their basic research and development to give out expert individuals and study fields (Clifton et al 2010, p.400). They should also expand programs and make a staff whose main function is to link knowledge across boundaries. They separate discovery of knowledge from application of knowledge. The main problem in research and innovation in universities is insufficient personnel with a rich source of information. The institutional support and reward system serving as expansion of knowledge have resulted in the academic discipline. Each of them has its own methodologies and vocabularies for communicating and developing knowledge that is easily understood by contributors to economic development. Getting over this difficulty in communication and collaboration in knowledge barriers of authority and expertise is what the universities need to address if they are good contributors top countries economic development (Hamid, H 2012, p245). Development strategy emphasizes on improving research institution in low and middle-income perspective and places them at the inner part of development policies. Universities are knowledge creating institutions in rising economies. These universities operate with sophisticated and equipped objectives and resourcing. Most countries are currently investing in international training, high-level knowledge, and many research activities to a greater extent. They invest in their best research institutions to make sure that they may interface without challenges, and on almost equal footing with their richer counterparts. Universities are more directly involved in state and regional economic development processes in many ways. They operate under contract, which is one of the state technology organs. Some of the universities are also involved in technology councils, local and state industries. Economic development policies of evaluation and studies are also one of the key roles of universities. These policies ensure regional collaborating and participation in regional and state economic development (Adom?ent 2013, p.15). Effective research management has increased international exchange and mobility in tertiary education and research in industrial fields. This requires retention of local research capacity and reinforcement. Research firms should be able to employ much expertise to facilitate technology. Research in innovation and technology mobility is a rising domain, and its attractive conditions for learning research attract future academic interests. Efforts to create and implement long lasting capacity building are under acceleration in almost all growing universities. Innovations in research universities are widely spread. Spin-offs represent a strategy for taking research outcome into the commercial sector and applications such as new services and projects. Businesses that are new technology oriented. Distribution of innovation research improves the role of universities as the driving force for development of the commercialization process. The knowledge used in incubator, transfer unit, spin-offs and patents diverse research. Most universities define their objectives in terms of creating, commercializing, and licensing intellectual property. In this way, they create spin-off companies and patents (Bauer & Lane 2006, 72). Research institutions of higher learning play an important role in enhancing regional economic development. They do this by embracing deeper and wider understanding of the unique multiplicity and character of factors affecting economic improvement in the society. They mobilize and make academic resources, ranging from humanities to sciences, accessible in universities. Universities invest financially and politically in the development mechanism of their firms. The main objective is to improve broker facilitates and develop knowledge across all disciplines. They link the current teaching programs with the valuable traditional research and separate challenges facing the decision makers. Universities should not leave research and innovation that they do well in, they should continue to expand their basic research and development to give out expert individuals and study fields. Conclusion Universities are more directly involved in state and regional innovation processes in many ways. They operate under contract, which is one of the state technology organs. Development strategy emphasize on improving research institution in low and middle-income perspective and placing them at the inner part of development policies. Universities are knowledge creating institutions in rising economies. Commercialization and technology transfer initiatives provides the means in which basic research and its market place meet one another. This is where ideas are converted into products, which then drive the new market and business formation. A challenge in economic development of a region is that efforts need to be drawn from many institutions, not a single department, but several schools to get the required knowledge resources (Atkinson & Pelfrey 2010, p.41). The values, economy, capabilities of a community and the competence and orientation of workers must all be transforming and developing continuously across a large range of knowledge, changing technology and global conditions. Research in innovation and technology mobility is on a rising domain, and its attractive conditions for learning research attract future academic interests. Efforts to create and implement long lasting capacity building are under acceleration in almost all growing universities. Bibliography Adom?ent, M 2013, ‘Exploring universities' transformative potential for sustainability-bound learning in changing landscapes of knowledge communication,’ Journal of Cleaner Production. Vol. 49, no 1, p11-24. 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