International Management of Knowledge and Technology Essay

International Management of Knowledge and Technology - Essay Example Hitachi has also embedded its research laboratory with the Cambridge University. These collaborations have taken the state of modern microelectronic technology to a more advanced level (J. G. Thursby and M. C. Thursby, 2002). The operations of multinational companies require a varied skill set. If the company human resource base does not contain all these specific skills, it might search for the skill in external sources. A single university is not likely to possess the complete skill set that a company might require (Ponomariov, 2007). In such cases, cross-institutional research would be needed to satisfy the firm’s needs within a particular area. Hence, companies look forward to other sources of innovation and have termed this act as ‘open innovation’ (Perkman and Walsh, 2007). University students can gain practical knowledge by taking part in the research activities or simply by updating themselves with the processes of innovation that is taking place through t he collaboration of their own university or a joint venture of many universities. They can benefit from this knowledge and be further encouraged to become innovative in their personal and professional lives. These research opportunities are also beneficial for students during their educational phase; they would be able to make various educational experiments to enhance their knowledge and improve their capacity (Lillywhite, Hawkes and Libbin, 2005). Recent research studies highlight that a significantly large number of academic institutions engage themselves with the corporate organizations through different channels simultaneously. This is visible most often in particularly R&D activities in applied... From this essay it is clear that  university students can gain practical knowledge by taking part in the research activities or simply by updating themselves with the processes of innovation that is taking place through the collaboration of their own university or a joint venture of many universities. They can benefit from this knowledge and be further encouraged to become innovative in their personal and professional lives. These research opportunities are also beneficial for students during their educational phase; they would be able to make various educational experiments to enhance their knowledge and improve their capacity.This paper discusses that a significantly large number of academic institutions engage themselves with the corporate organizations through different channels simultaneously. This is visible most often in particularly R&D activities in applied sciences. Companies interact more with universities to gain their support in these research activities. The age and e xperience of academicians and their professorial status indulge companies to enter into contracts with them. Various university patents and copyrights also increase the propensity of organizations to increase their interaction with the industry. Lower-ranked departments in various universities set up greater levels of interaction with the university than the high rankings departments.  There are various kinds of benefits that might be generated from the collaborative efforts between the universities and the industries.