With the increasing complexity in the field of science and technology, it has been proved that in order to survive in this global economy, businesses should spend more in the field of research. However, most of the times, companies find it difficult to allocate adequate resources to research and development. In this essay, we will discuss how the government could play an essential role to encourage companies spending in this area.
Firstly, the governments could allocate a special grant/aid for the research in their field of interest, this way they can attract potential researchers in the field in doing so both business and country would benefit. As we know about government grants in European countries for research in every field of science, commerce and technology.
Secondly, governments could arrange a poster presentation competition, awarding the successful candidates with the opportunity to study further as well as of publishing their work in some reputable journal. For instance, government-funded poster competitions occur in every public sector business school in Karachi each year. This has provided opportunities to the bright candidates and has yielded us with an invaluable amount of research in this sector.
Moreover, legislators could arrange finances from other foreign investors in their desired field of interests. As for example, African countries received funds from US government for carrying out researches in the fields of science and commerce.
Overall I believe that research is pivotal for any nation's development and there are several ways through which governments can play their essential role in solving the issue of resources.
With the increasing complexity in the
field
of science and technology, it has
been proved
that in order to survive in this global economy, businesses should spend more in the
field
of
research
.
However
,
most of the times
,
companies
find it difficult to allocate adequate resources to
research
and development. In this essay, we will discuss how the
government
could play an essential role to encourage
companies
spending in this area.
Firstly
, the
governments
could allocate a special grant/aid for the
research
in their
field
of interest, this way they can attract potential researchers in the
field
in doing
so
both business and country would benefit. As we know about
government
grants in European countries for
research
in every
field
of science, commerce and technology.
Secondly
,
governments
could arrange a poster presentation competition, awarding the successful candidates with the opportunity to study
further
as well
as of publishing their work in
some
reputable journal.
For instance
,
government
-funded poster competitions occur in every public sector business school in Karachi each year. This has provided opportunities to the bright candidates and has yielded us with an invaluable amount of
research
in this sector.
Moreover
, legislators could arrange finances from other foreign investors in their desired
field
of interests. As
for example
, African countries received funds from US
government
for carrying out
researches
in the
fields
of science and commerce.
Overall
I believe that
research
is pivotal for any nation's development and there are several ways through which
governments
can play their essential role in solving the issue of resources.