Tag: Business

Business: Lingua franca

With the economy being more globalized than ever and the constant need to address competition through innovation, one important aspect of education has not received enough attention: the study of foreign languages.

There are the obvious advantages of learning a foreign language, such as enhancing the appreciation of other people and cultures, finding employment in businesses and organization with international exposure, and improving travel experience and dating opportunities.

However, as to improving business climate and opportunity, learning a foreign language offers several significant advantages to individuals and businesses. It can:

Increase memory power and lengthen one’s span of attention

Demonstrate perseverance and ability to do challenging work

Enhance decision-making abilities and problem-solving skills

Demonstrate ability to tolerate risk and criticism

Enhance general communication skills

Improve self-confidence

Boost creativity

Suggestion:

To improve their pool of innovative prospective employees, ask employers to add “Two years of college-level foreign language education required” as a required qualification.

Science: Research to Market

As many scientists and engineers who have discovered a promising new technology have found, it is very difficult to bridge the divide between a basic research discovery and a viable product or marketable technology. This gap is often referred to as the “valley of death.” Many companies don’t even try because of the risk to their business model and cost. Only about 8 percent of non-manufacturing companies introduce new products or process innovations per year. Manufacturing companies are slightly better, with 22 percent per year reporting innovations in their products or processes.

Suggestion:

Follow the QB3 model.

QB3, one of four research institutes founded in 2000 by Governor Gray Davis of California, is designed to bridge the chasm between the lab and the marketplace and help convert technological discoveries into marketable products or processes.

Operating as a partnership among the University of California, state government, venture capital, and industry, QB3 promotes structured collaborations among campuses, disciplines, academics researchers, research professionals, and students. It fosters research partnerships by identifying potential opportunities for collaboration and funding support, developing platform technologies, and assisting partners with intellectual property and technology transfer issues.