There still is a debate as to whether new inventions should be sponsored by state entities or business institutions.
Although
it is imperative for the former to participate in addressing specific problems, I strongly feel that later can play a pivotal role in introducing breakthrough products addressing the problems pertaining to all aspects of life. Linking Words
This
disquisition delves into details with supporting arguments and examples.
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Firstly
, commercial establishments works on a well designed plan as compared to their counterparts. To elaborate, all the scientific projects that are undertaken by them, is strongly backed by a perfect plan with a dedicated launch timeline. These are tracked on a regular basis and necessary actions are taken to remove any roadblocks. Talented employees, hired by them, Linking Words
also
helps in achieving these deadlines. Linking Words
For example
, Covid’19 vaccines, which will be launched by Astra Zeneca in collaboration with Oxford university in 2021, were created within a year as compared to 5 to 6 years taken by the governments to launch earlier vaccines.
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Secondly
, they are very critical and practical on discontinuing projects which are commercially not viable. The primary goal for any business is to make a profit, and for that they invest money in finding new products that can meet unmet needs of the consumers. Linking Words
However
, there are instances when input cost supersedes the forthcoming revenues. Private organisation is better equipped to identify these cases and pull the plug at the right time. Linking Words
For instance
, Google has discontinued their Google lens project because of its non-viability.
To conclude, both the entities Linking Words
such
as government and the corporate are important for undertaking research in their respective field of importance. But, Linking Words
as a result
of better efficiency and sound business acumen, I personally feel that private organisations are well suited for undertaking these activities.Linking Words
Ashish