Insights Essay Example | Topics and Well Written Essays - 250 words

Insights - quiz ExampleIndia for instance has not passed through the process of industrialization but has jumped into the post modern stop consonant unlike the developed nations who have their foundations in place. In order to hold back from the dangers of sudden breakdown, it is principal(prenominal) for these nations to insulate themselves properly a get aheadst the impact of economic downfalls in US which might trickle down to the regions enjoying so far the benefits of outsourcing. The countries like India and China need to develop a strong base of R&D in order to be self sufficient in technology instead of having to borrow the experience and tools from abroad. The economies need more inventions and innovations in this field in order to preserve originality. This will help the economies to gain more confidence in them because in a flat world sustainability is also an important cite to be addressed. One major problem which often arises is the fact that owing to the difference in commuting rate. Any invention requiring a patent is more believably to be shelled out to a transnational firm which will buy it expensively rather than an India firm. With globalization being so effective everyplace the last decade and the common playing field enabled by triple convergence, Indians are more likely to sell their inventions to a multinational firm especially if it is something related to IT which might help business operations perform more efficiently.