In this groundbreaking textbook approach to the study of entrepreneurship, Robert Mellor brings to the non-specialist not only the crucial issues of the field that they will need to know, but also bridges the gap between business knowledge and expert knowledge from other disciplines. The textbook provides relevant and targeted specialist chapters aimed towards a variety of fields - from sustainable industries, information technology; healthcare, biotechnology, as well as the musical and creative industries. Key entrepreneurship concepts that are covered include:- the theories and tools of creative thinking- market research - intellectual property protection- relevant economics
This chapter introduces some of the concepts surrounding technical entrepreneurship and is suitable for students of the computer/IT-related disciplines and engineering, especially electrical engineering.
The Influence of Globalization
One hotly discussed subject in technical markets is outsourcing. Assume that a company making ‘Product X’ in London may be gaining in market share, but is paying its workers low hourly wages, say, £1. The low wage makes the company competitive in selling ‘Product X’, but is not boosting the prosperity of London, which would like to have its residents on high wages. However, if this hypothetical company raised wages to £2 per hour, it would mean that a rival company, which pays £1.50 per hour, would take over the market, illustrating that for a ...