Competition has increased to a greater extent between various organisations. This has forced most of the firms to only concentrate on profits rather than innovations. However, lack of explorations has impacted the growth of the country's economy. In this essay, we will analyse how ruling party can motivate co-operations to invest in the analysis of old products and improve them.
To begin with, the political authority can declare some benefits for those industries which have modified the existing systems for their better performance. For instance, elected group can provide some concessions on the mortgage interest rate for the firms releasing modified merchandises. Evidently, Company will put full efforts on experimenting old product and creating its better version. Thus, it is apparent that this will inspire associations to venture in redeveloping existing applications.
In addition to this, the administration can provide few dedicated staff members for the purpose of creating new better systems from the existing one. A good illustration for this is the group of employees who will be employed on government's payroll but will work for the other companies. In other words, the only aim of these special employees will be improving systems by performing some tests on them. Hence, Company will be able to focus on upgrading applications without compensating their regular profits.
In conclusion, the government can play a vital role in influencing organisations to uplift older systems. What this means is government can provoke industries by offering them lower loan interest rates and committed workforce which will help to boost countries economy. It is thus hoped that ruling parties will implement some measures for instigating company to get involved in new inventions.
Competition has increased to a greater extent between various
organisations
. This has forced most of the firms to
only
concentrate on profits
rather
than innovations.
However
, lack of explorations has impacted the growth of the country's economy. In this essay, we will
analyse
how ruling party can motivate co-operations to invest in the analysis of
old
products and
improve
them.
To
begin
with, the political authority can declare
some
benefits for those industries which have modified the existing
systems
for their better performance.
For instance
, elected group can provide
some
concessions on the mortgage interest rate for the firms releasing modified merchandises.
Evidently
,
Company
will put full efforts on experimenting
old
product and creating its better version.
Thus
, it is apparent that this will inspire associations to venture in redeveloping existing applications.
In addition
to this, the administration can provide few dedicated staff members for the purpose of creating new better
systems
from the existing one. A
good
illustration for this is the group of employees who will
be employed
on
government
's payroll
but
will work for the other
companies
.
In other words
, the
only
aim of these special employees will be improving
systems
by performing
some
tests
on them.
Hence
,
Company
will be able to focus on upgrading applications without compensating their regular profits.
In conclusion
, the
government
can play a vital role in influencing
organisations
to uplift older
systems
. What this means is
government
can provoke industries by offering them lower loan interest rates and committed workforce which will
help
to boost countries economy. It is
thus
hoped that ruling parties will implement
some
measures for instigating
company
to
get
involved in new inventions.