The Protectors of God

Religion, the Oxford dictionary defines as “belief in a superhuman controlling power especially in a personal God or gods entitled to obedience and worship”. In Hinduism, the oldest religion of the world, it is said that ‘Vasudhaiva Kutumbakam‘ means the whole world is one single family. The concept has clearly been depicted as “ayam bandhurayam neti ganana laghuchetasam udaracharitanam tu vasudhaiva kutumbakam” in the Maha Upanishad (Chapter 6, Verse 72) that means Only small men discriminate saying: One is a relative; the other is a stranger. For those who live magnanimously the entire world constitutes but a family and is considered an integral part of the Hindu Philosophy. So, the question is today how many of us have the same ideology about the world? The recent unethical violence over the Islam movie ‘Innocence of Muslims’ has tormented several anguished questions that how can we bring a balance among different faiths in today’s hyper techno-science world? Should we take the help of science to bring peace among the divinities?or, Can the technology be of help to contribute to the balance of religious differences? And how can we ultimately assemble a path of harmonious arrangement and a legitimate secular mechanism in this diverse unsecularize world? These are definitely debatable questions on religions and conflicts that needs to be resolved in order to sustain spiritual peace and morality.

 Religion is as old as the human existence. Both Christianity and Hinduism teach that man and woman are made in God’s image. It is quite true that God is the most interesting idea of human beings and man is the only animal who worships, believes and spiritualizes God the way he believes. Man has been worshiping God in different ways, following his superiors, and this faith concept has been transformed with time and age. If we take a look at the different religions on the concept of God, every religion claims “God is one and he is great”, whether it is Allah in Islam or Vishnu in Hinduism or Jesus in Christianity, all regions give a message to man to follow the right path and righteousness. Dr. Zakir Abdul Karim Naik has compared various religions about God in ‘the concept of God in the major religions’. There is much similarity in the concept of God in both Hinduism and Islam: In Hinduism “Ekam evaditiyam” means “he is only one without a second” (Chandogya Upanishad 6:2:1), and in Islam “And there is none like unto him” (Holy Quran, 112:4). Furthermore, Hinduism says “Dev maha osi”, means “God is verily great” (Atharvaveda 20 58:3) and in Islam, “he is the great, the most high” (The Holy Quran 13:9). Similarly, Sikhism describes God as “There exists but one God, who is called the true the creator, free from fear and hate, immortal not begotten, self-existant, Great and compassionate” (Sri Guru Sahib Volume1, Verse I), whereas Judaism says, “Hear, O Israel: The lord our God is one God” (The Bible, Deut 6:4). In the whole Bible, Jesus never proclaimed himself God but as the son of God “My father is greater than I” (John 14:28), and “My father is greater than all” (John 10:29), and Islam gives a clear concise concept of God in four verses of Surah Ikhlas, chapter 112 of the Holy Quran: “Say: He is Allah, the one and only. Allah, the Eternal, Absolute. He begets not, nor is he begotten. And there is none like unto him” (The Holy Quran 112:1-4). And Hinduism says “He is One and only One, Sustains entire universe, Omnipresent, Formless (Omnivorous), All-Powerful (Almighty, Omnipotent), Perfect, Omniscient, Unborn, Eternal and supports us always. He alone should be worshiped”(Yajurveda 40.8). Whereas, in Rigveda, one of the four canonical sacred texts of Hinduism, says “Ishwar alone provides true knowledge to truth seekers. He alone is promoter of knowledge and motivates virtuous people into noble actions to seek bliss. He alone is the creator and manager of the world. Hence never worship anyone else except one and only Ishwar” (Rigveda 10.49.1). Edwin H. Bryant (2003) in his book Krishna: the beautiful legend of God; Śrīmad Bhāgavata Purāṇa describes Ishwar, the Sanskrit word for God, as “a being with extraordinary powers”, and the ISKCON in ‘in the heart of Hinduismdefines the meaning of Ishwar as ‘controller’. Also, we should not be confused that Allah is an Arabic word which means God, Muslim prefers to call Allah instead of God. So, all religious faiths are ideologically important to their respective followers.

No religion says to engage in wrong paths, violence, unethical means and conflicts. But, It is sober that a few anti-religious people may create havoc among different faiths which causes conflicts, riots and religious contamination following the denigration of their religious idealism. When we come to the stage of divinity and religious faith, we have to consider all religions equally and there should not be a place of hatredness whether it is Islam, Chrstianity, Jewish, Hinduism, Buddhism, Sikhism, Judaism, Bahai Faith etc. Respecting other religious faiths, Jesus said “Other sheep I have which are not of this fold…” (John 10:16). Furthermore, S. Radhakrishnan in the ‘Conflicts of Religions: the Hindu attitude (1926)’ mentioned that the edicts of Ashoka’s rocks respects all religious harmony - “The King, beloved of the Gods, honors every form of religious faith, but considers no gift or honor so much as the increase of the substance of religion; whereof this is the root, to reverence one’s own faith and never to revile that of others.Whoever acts differently injures his own religion whi1e he wrongs another’s”. The ongoing religious battle between Islam and Christianity, the two largest religions of the world which accounted 54% followers of the total population, is a critical concerned for the world.

The modern monotheism has profoundly been contributing and developing interfaith fear and hostility and is emphasizing on the negative side of religion; what Eric Brahm (2005) mentioned about the serious of religious conflicts in ‘Religion and Conflict’ that the Human society has been witnessing, whether it is Myanmar and Burma: Budhhists vs Christians 1948, or Israel and Palestine: jews vs Arabs, Muslisms vs Christians 1968, or Northen Ireland 1969 Catholic vs Protestants, or Iraq 1991 Sunnittes vs Shiites, and Egypt 1977 Muslims vs. Central government (Muslim) Muslims vs. Coptic Christians, and India (Uthar- Pradesh) 1992 Hindus vs. Muslims, these religious conflicts have caused various violences, chaos and humongous societal devastation – structural, cultural, high intensity and low intensity . The religious extremism that contributes to conflict escalation often forms illiberal nationalism which leads to intolerance and discrimination and these conflicts are often of asymmetric order.

The Human history has been witnessing the series of conflicts among polytheism, monotheism and agnosticism. With the multi-spiritualism, man is becoming a victim of superstitions developing personal Gods. To realize God, Man has created Gods of religions and even ‘personal God’ what Karen Armstrong says “dangerous”. Man likes to see God everywhere, at home or in the church, mosque, temple or gurudwar, his curiosity to know God has never been exhausting. Whether it is home God, temple God, man is still confused that God is one and he likes to call him in different names. Karen Armstrong in her book “A History of God” mentioned “Yet a personal God can become a grave liability. He can be a mere idol carved in our own image, a projection of our limited needs, fears and desires” and she further added that “strange as it may seem, the idea of ‘God’, like the other great religious insights of the period, developed in a market economy in a spirit of aggressive capitalism”. What is the reality of God when a Hindu believes everything as God – sky, air, tree, water, book, rice etc. The God of things has become a complex ambiance.

Religious dogmatism creates belligerent righteousness which marginalizes God and becomes the roots of organized religion and conflict. The concept of freedom of expression is being misused and both religious fundamentalists and atheists come into clashes. There is an ongoing debate on the existence of God between theists and atheists. Be it the Darwin or Einstein or the British physicist Hawkins, they never let God as a power and creator of the universe but has developed their own theories of the origins of the universe which are yet to be proved. Atheist author Christopher Hitchens’s ‘God is not great’ contends that organized religion is violent, irrational, intolerant, and bigotry, and in The God Delusion, Dawkins contends that a supernatural creator almost certainly does not exist and that belief in a personal god qualifies as a delusion. Religion is not what a person or a group of persons thinking about, because a cult is often based ecstasy and moral exemplars. So, hipsters always get a flak from devout and religion needs freedom the science. Above all, free expression should not act as blasphemy and heresy.

The Modern monotheism lacks the respect of other faiths which is exacerbating polarization. Whether it is Rushdie’s ‘The Satanic Verses’ or Sam Bacile’s movie ‘Innocence of Muslims’, they come along as an intense attack on religious bigotry. The modern world that is bestowed with different history and culture urges for the Ecumenism. Religious peace is very essential for the development of this world, be it science or technology, religion or philosophy, religious harmonization becomes inevitable. Today, man has created many Gods and becomes the protector of the Gods. Science that often conflicts with religion may not be helpful in religious harmonization but people, government and religious leaders have to unify against all the demigods. Today the world needs spiritual awakeness and religious consciousness among different faiths. And we still need to realize Dr. Radhakrisnan’s lecture that “To despise the other people’s gods is to despise them, for they and their gods are adapted to each other” which can definitely bring spiritual peace and prosperity in the world. 

Picture credit: http://www.kauaicarverstore.com/ku-kealoha-protector-of-god-the-love/

The Economics of Talent

Talent, the unusual innate ability, is at stake in the today’s hyper-competitive world. Talent is often substitutable with natural gift, but we are wondering in today’s age, that talent is also measurable in terms of money and performance, so, that means, talent may be priceless without right opportunities and prospects. Napoleon Bonaparte rightly said that ‘ability is of little account without opportunity’. With the bunch of talents, our corporate world is developing “Talent Intelligence” like “Business Intelligence”. As ‘business intelligence’ foresights into business arena by capturing, extracting and analyzing key data to drive growth and success, ‘talent intelligence’ insights on key workforce data to generate better performance and improved decision-making. But, why is today’s talent at stake??

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Let’s focus on the demand supply theory of talent. Now we have modern education system and improved technology. Science has done abundance progress that we made everything possible of past impossibilities. But, we mankind what we do, we get two results – one is the instant result; on the other hand, spillover effect of the action which we can better say ‘future outcome of present action’ (FOPA). So, we are talking about human resources or human talent in economic sense. Today our youngsters are questioning the value of education and value of system. If our education system could not help our youngsters or talents to find a job, if it cannot help an educated nerd who sacrificed his/her youth, spending sleepless nights, preparing for the brainstorming arguments and scoring highest marks in the competition, should we not question about the value and structure of our education? Should our policy makers not responsible? That’s why ‘to find a job is a job’ (the process of job hunting). The most wondering thing is our talented nerds are even not able to get a free job (internship/traineeship) with 98% marks; the situation is that there is no job in the market, and even recruiting an intern is a cost to the company. We must have to agree that our education is degrading or losing its luster, and our youths deplore with both the cost and quality of the education. There is something wrong in our whole shebang.  After all, who is the responsible behind this economic crisis? Is it our diluted system, or our misdirected policy makers, or our democracy deficit, or are we all collectively responsible? With my wide travelling across Europe, I met many youngsters but very few are happy. They suddenly complained about the system, political process and policy makers. It is no surprise that university and college degree holders, even MBAs, are compelled to serve as waiters to survive in this hopeless world that made them orphans. Many master graduates are continuing PhD program to escape being unemployed, but this doctoral program is what the Economist magazine equates as ‘the disposable academic’. If education, instead of adding value, makes our life imbalance and worthless, so, is it the value of our education and is it the value of our system? Students are dreamers and they dream to have a good job, good pay and perks, a beautiful bungalow, and a lovely wife. But, they never thought their dreams will never turn into dreams.

Recently, I was reading a beautiful article of Peter Coy ‘The Youth Unemployment Bomb’ focusing on what our jobless and talented youths are doing, some of them became miscreants and others became introverts, and I term it as ‘talent at war’.

In Tunisia, the young people who helped bring down a dictator are called hittistes—French-Arabic slang for those who lean against the wall. Their counterparts in Egypt, who on Feb. 1 forced President Hosni Mubarak to say he won’t seek reelection, are the shabab atileen, unemployed youths. The hittistes and shabab have brothers and sisters across the globe. In Britain, they are NEETs—”not in education, employment, or training.” In Japan, they arefreeters: an amalgam of the English word freelance and the German word Arbeiter, or worker. Spaniards call the mmileuristas, meaning they earn no more than 1,000 euros a month. In the U.S., they’re “boomerang” kids who move back home after college because they can’t find work. Even fast-growing China, where labor shortages are more common than surpluses, has its “ant tribe”—recent college graduates who crowd together in cheap flats on the fringes of big cities because they can’t find well-paying work.  (Source: Business Week, Feb 2, 2011)

So, today unemployment rate is thrice or 4 times or even more compared to the previous record. Developing countries are continuously facing the brain-drain syndrome, and it is one of the reasons behind their long stagnant economy.  Today most of our youths admit that the education system has been debased that couldn’t help them to be independent, and another interesting thing is that people even with lower education are living a simple and better life and are working in any kind of jobs, but our higher educated talents are not able to work or even they are interested to work at lower position but not allowed. It seems higher education is unnecessary and degrees are epidemics that cannot ensure a happy and successful life. The question today is – what is cost of our talent waste as it is strongly correlated to our happiness and personal growth as well?

The unemployment disaster has completely wasted our talents and made us orphan. The stark number of unemployment is a surprise and panic as well. A Recent statistical anatomy reveals Spain’s youth unemployment is nearly 50%, whereas United Sates has 23% youth unemployment and United Kingdom is closed to 22% jobless youths. One day, there was time the world economy was facing talent crunch, but today it is completely opposite, i.e., useless talent pool. How can our youths survive and live a better life being unemployed? But it is predictable that if this situation continues to a decade, the talent crunch will make a reverse path to our well-developed techno-science economy. Finally, whether it is Italy or USA, Greece or Ireland, this jobless talent pool will have an adverse effect on our economy not for one or two years but for decades and by society at large.

The Crisis of another World: Eurozone

No one has thought that the rising eurozone will ever face a financial dogmatism. European Union, once considered as a potential rival to the US, the world’s largest economy, is today increasingly losing its stance and is suffering a clear leadership failure. Both financial pundits and diplomatic psychoanalysts are describing the EU as ‘no-hoper zone’ with no consistency on its future role. Today the analysts are finding a bit difficulty to analyze the ‘herd behavior’ of the EU and are questioning about the stability of its single currency. Eurozone needs a strong leader who will stabilize its economy and restore its rising growth. Due to increasing fragile of financial credibility and political destabilization in some of its member states, the EU is today suffering the hypersensitivity of its position, dignity and power to its rivals. Greece, with foreign debt 200% of its GDP and an average debt of 38,073 euro per person, is heavily indebted to eurozone countries and the biggest fear is the factor of ‘contagion’ that its financial catastrophe could have a similar effect to other member countries. Spain with 41,366 foreign debts per person with a 67% govt. debt to GDP is increasing pressurizing not only on EU but also the global economy. Italy, the third largest economy in the EU and the seventh largest in the world in terms of nominal GDP, is a country of concern today. The recent leadership changes from the most controversial leader Berlusconi to a technocratic leader Monti, Italy is expecting an immediate solution to its economic imbalance and the rising unemployment issues which is continuously decreasing the consumer demand and is a big concerned to the EU leaders.

 

The heyday of the EU is significantly unimportant today as the huge financial damages the union is suffering has become a serious burden. Though its leaders are profoundly focusing on grand strategy to pitch a sustainable solution to the collateral damages, even Paris and Berlin could not reach in a conclusion how to tackle this biggest financial cost ever since its unification. The issue of containment has become a huge debate among the EU leaders as the eurozone is enormously failed to make a mark on its diplomatic policies. So, the financial price of diplomatic disintegrity has triggered its economy down and member countries are trying to calculate the cost of the relationship damage which analysts describe ‘very unsystematic’. Though the United States is preparing for a painful adjustment to shape the economy, but the question of recent bond crisis and longstanding instability of sovereign debts of some of the member countries are constantly a matter of ambiguity. The financial irregularity and the fiscal irresponsibility are factors of growing concern today and the PIGS (Portugal, Italy, Greece and Spain) countries have recently revaluated the price of risk. Mr. Monti’s “rigorous consolidation” of its public finance may not yield an immediate result and Ms. Merkel’s ‘can do speech’  “we will do everything to defend the euro” does not tell how to do it.

 

As diplomatic issues are concerned, the litany of diplomatic failures in Europe should be analyzed carefully and the financial impact must be conceptualized.  The political storm in the Arab spring and diplomatic pressure in the Middle East are growing concern today for the whole world, and Washington, Berlin, and Jerusalem are trying hard to make a move.  Tehran’s tremendous move and increasing power could be a difficult task for the NATO and Europe and should well be prepared for the price of the consequence. The recent Palestine bid at the UN is still questioning about the peaceful solution. So, the authorities should calculate the cost of both diplomatic damage and financial mishandled before they face another critical crisis which could have unintended consequences.

 

N.B.: Foreign Debt per person and GDP and Foreign Debts,      Source: Bank for International Settlements, IMF, World Bank, UN Population Division http://www.bbc.co.uk/news/business-15748696

Cultural Innovation shapes our ages

Culture seems a pretty complex word, and it is hard to define the difference between culture and civilization. Culture may be a group of people under a roof with similar thinking and interest and no heterogeneous dimensions in their activities.  We, human being, cannot ignore that culture plays a driving force in reformation of society, taste, modernity and age. It’s culture that shapes both our present and future. Culture as defined by Velkley in his book Being after Rousseau:

The “term “culture,” which originally meant the cultivation of the soul or mind, acquires most of its later modern meanings in the writings of the eighteenth-century German thinkers, who on various levels developing Rousseau’s criticism of modern liberalism and Enlightenment. Thus a contrast between “culture” and “civilization” is usually implied in these authors, even when not expressed as such. Two primary meanings of culture emerge from this period: culture as the folk-spirit having a unique identity, and culture as cultivation of inwardness or free individuality. The first meaning is predominant in our current use of the term “culture,” although the second still plays a large role in what we think culture should achieve, namely the full “expression” of the unique of “authentic” self.

It is no doubt that man’s inherent instinct to see new, feel new and perceive new is cultural innovation. Man always motivates to innovate to do something different and better and culture has been a force that has continuously been modifying man’s vision, dream and imagination, be it be Aeroplane or Atom Bomb or space mission.

Luecke and Katz (2003) defines Innovation :

“[Innovation] is generally understood as the successful introduction of a better thing or method. [It] is the embodiment, combination, or synthesis of knowledge in original, relevant, valued new products, processes, or services.”

We think about cultural innovation, back to our ancient ages, human civilizations with it’s continuous struggles to do better for both it’s current and next generation has culturally been driven to innovate what it wants to see. So, continuous cultural innovation and accumulation of these innovation processes and practices is where we are today.

In the beginning of the human life, humans were living in the jungle without clothes, cultures and civilizations. Man learned to live a better life and the idea of using stone tools that could generate fire and then thought about how the stone tools could be used to get sustainable and security life that has been triggered the change we see today. So, cultural change that comes from culture innovation results from society’s cultural invention of new finding that can be beneficial or useful and can increase the productive capabilities both physically and emotionally.

Cultures that are both internally and externally affected by many factors such as imagination, vision, encouragement, emotional sentiments, various restrictions from the human minds or outsiders be it nature or other creatures that belong to social structures and natural events undoubtedly define the cultural ideas and practices. So, these practices have given birth to social invention and conflicts which helps dynamically and sustainably new cultural models and develops technology and methods to understand these changes which in turn drives cultural innovation as a cycle that changes our ages.

Picture credit: http://en.wikipedia.org/wiki/File:Indig2.jpg

Social Capital

Social Capital has become an engaging factor and we all are serious to build up social capital. Many people are wondering about this unique scientific term. Social capital does not have a clear, undisputed meaning, for substantive and ideological reasons (Dolfsma and Dannreuther 2003; Foley and Edwards 1997).

Man is by nature a social animal; an individual who is unsocial naturally and not accidentally is either beneath our notice or more than human. Society is something that precedes the individual. Anyone who either cannot lead the common life or is so self-sufficient as not to need to, and therefore does not partake of society, is either a beast or a god. ( Greek Philosopher Aristotle  384 – 322 BC)

Social capital is about the value of social networks, bonding similar people and bridging between diverse people, with norms of reciprocity (Dekker and Uslaner 2001; Uslaner 2001).

Social capital means a network of relationships between individuals and various entities. John Field’s (2003: 1-2) social capital theory emphasizes on ‘relationships matter’. Dekker and Uslaner (2001) wrote that social capital is fundamentally about how people interact with each other. So, how can we define the term social capital? The World Bank defines:

‘Social capital refers to the institutions, relationships, and norms that shape the quality and quantity of a society’s social interactions… Social capital is not just the sum of the institutions which underpin a society – it is the glue that holds them together’ (The World Bank 1999).

According to Robet Putman, the social capital guru:

Whereas physical capital refers to physical objects and human capital refers to the properties of individuals, social capital refers to connections among individuals – social networks and the norms of reciprocity and trustworthiness that arise from them. In that sense social capital is closely related to what some have called “civic virtue.” The difference is that “social capital” calls attention to the fact that civic virtue is most powerful when embedded in a sense network of reciprocal social relations. A society of many virtuous but isolated individuals is not necessarily rich in social capital’ (Putnam 2000: 19).

So, Social capital is all about a relationship between individuals, entities and other social norms. It is very unique that it focuses on trusting relationship that add values, opportunities and possibilities which helps in promoting a quality life. It depicts about cultivating cultures, engagement, equality, trust, tolerance and solidarity.

Social capital is, in my view, an engaging experience of relationship of networks. It is all about how we are related to each other. We are considering three important factors – individual interest, shared interest and common interest. So, when these three interests mutually are engaged that provide an incentive in building social capital. With good quality of social capital, we can better deal with a ‘wasted opportunity’. The quality of our existence comes from the quality of social capital.

Social capital provides incentives to globalization, knowledge spillover, community development and human progress. When a society is unable to meet growth, it means, it is facing a huge deficit of social capital. Today’s non-profit organizations are undoubtedly helping the society creating social capital but the government and international bodies should provide appropriate platform to build social capital in order to face the future challenges.

Obama and American Leadership

The recent Libya crisis has brought tremendous dramatic changes in Obama’s new geopolitical landscape. Though president Obama is an enthusiastic advocate of Washington’s superpower, but  he is struggling hard to stabilize his domestic policy in order to restore his lost popularity for a second term. The history is quite familiar why Washington does not wait on London, Moscow and Beijing  to do its business. The recent leadership roles of Paris and London have shown that Europe  is ready to take a bigger role and responsibility and can focus effectively on international military to replace the American leadership.

Mr. Obama though always wants the oval office to play lead role and to renew its relinquishing global geopolitics, but his recent speech on reassignment of leadership surprised many both at home and abroad. Mr. Obama at the state department day speech in January 2009 added that:

“Let there be no doubt about America’s commitment to lead. We can no longer afford drift, and we can no longer afford delay, nor can we cede ground to those who seek destruction. A new era of American leadership is at hand, and the hard work has just begun.”

He recently said on Libya crisis:

“American leadership is essential”.

“Our goal is focused, our cause is just”, he further added.

It is no doubt that the US remains the world’s indispensable power after the cold war of 45 years  prolonged protracted conflict and constant tension with Russia. The world policy makers agree that Pentagon is making continuous efforts to shape the global military and defense but the recent speech of Obama has questioned many why the US is relinquishing to take the lead role. Mr. Obama has already told the world leaders at U. N. General Assembly in 2009 -

“Those who “used to chastise America for acting alone in the world” it is time for a true “global response to global challenges,” including climate change, terrorism, endless conflicts and poverty.”

The Washington is now wishing allies to share responsibilities and help to solve the world problems with cooperation and shared leadership. Mr. Obama further added -

“We have sought in word and deed a new era of engagement with the world. Now is the time for all of us to take our share of responsibility.”

The Libyan venture certainly provides a solid platform to calculate the financial price of leadership and political cost of consequence.  Though the analysts are expressing the leadership role a mere political motivation and blaming Obama not to act effectively, on the other hand, Mr. Serkozy’s dramatic venture on Paris’s international leadership role has been seen as a mere self-promotion ahead of  French presidential election. London’s role on Libya clearly focuses on why Mr. Cameroon is insisting a ‘no-fly zone’ and Mr. Prime Minister recently told the House of Commons that the alliance had a “tried and tested machinery” for running such a complex multi-national mission. The Arab world’s active involvement on international alliance for the first time, has raised many unanswered questions on american leadership.

The political pundits and the policy analysts are describing Mr. Obama as the weakest US leader ever and a dither. Though his national security advisors are continuously advising him, but the white house is facing a serious debate on its role on Libya crisis. The Obama doctrine has failed to give a clear and concise view to the conservative Americans. Is American leadership going to be collapsed? Will Pentagon lead the international defense? Will Moscow and Beijing replace  the US global policy or the talkative Europe will act to lead and shape international military order? These questions remain now unanswerable.

Picture courtesy: scrapetv.com

The Challenges of Global Innovation

Innovation has no longer been a passive word. What is innovation? Innovation means doing of something new for the first time from research and experiments.  Baregheh et al. (2009) within the organizational context, defines innovation as:

Innovation is the multi-stage process whereby organizations transform ideas into new/improved products, service or processes, in order to advance, compete and differentiate themselves successfully in their marketplace.

Schumpeter defined innovation as the ‘process of creative destruction’ (1942)  and identified innovation as the critical dimension of economic change. He argued technological innovation often creates temporary monopolies, provides right platform and necessary incentive for firms to develop new products and helps in processes innovation.

So, why do firms do innovation? Firms generally do innovation at manufacturing level and Innovation can be supply- pushed (based on new technological possibilities) or demand-led (based on market requirements and new markets). Increasing competition forces the firms to do innovation in order to stay in the market and compete with their rivals. As no firms want  a negative profit and some firms want to dominate the market creating market power and innovators face unsubtle competition from the rivals in the form of imitation, which of course costs something to the rivals. International trade and globalization have made the world a global village and the world becomes a solid platform for competitors to face the global challenges.

The rising growth of global innovation often provides firms to widen their knowledge through global networks and international projects. It helps to access new knowledge, skills, customers, collaboration and technology. Technological innovation, no doubts, plays an important role and force the firms to become technologically independent in order to exploit better benefits than their rivals, and to meet difficult challenges in the global market.

Finally, How do the firms meet this global challenges? In order to sustain in the competing market, firms do find new sources of knowledge and they engage themselves through collaborators in specialist clusters and Research and Development to create new knowledge with new ideas. And it does have a significant impact on future pattern of growth both planned and usual growth.

Picture courtesy: mfauscette.com

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