Do you need this or any other assignment done for you from scratch?
We have qualified writers to help you.
We assure you a quality paper that is 100% free from plagiarism and AI.
You can choose either format of your choice ( Apa, Mla, Havard, Chicago, or any other)
NB: We do not resell your papers. Upon ordering, we do an original paper exclusively for you.
NB: All your data is kept safe from the public.
Innovation is increasingly becoming a fundamental aspect in the development of the modern world. Apart from development of services and products for purposes of improving quality, innovation also involves new business systems, processes and methods of management, all of which present a very significant impact on business productivity and development.
As it would be observed, innovation is arguably the most powerful force for transformations and developments in almost every sector of the global economy. For this reason, many developed and developing countries have started to embrace the insurmountable opportunities presented by this upcoming trend to increase and sustain their economies.
Today, every organization in the world is experiencing the impact of current global issues such as globalization, technological revolutions, and uncertain weather patterns, among other turbulences. There is no better way we can address these challenges, but through the considerable effort of innovation. This assignment examines the case of Brazil as a country seeking to bring out significant changes in its growing society, through a greater focus on innovation in its organizations and institutions.
Brazil is ranked the fifth-largest country globally, with a population rate of about 185 million people. Attempts to foster innovation have been among the major challenges the country continues to face, as a nation striving to get recognition in the global economy (Sennes 46). This dream, however, seems to come true following the country’s recent plans to adopt policies that would boost innovation as a key driving force for regional integration and economical developments.
This intervention would see Brazil adopt a number of effective laws and policies targeted on innovation, over the years, as one way of addressing the many challenges facing the global population today. These laws are intended to promote the country’s social and economical developments, through a strategic plan that will take place within a system of innovation. Following is a summary showing the Brazilian laws on innovations and how they affect business development for both local and foreign organizations in the country.
The Intellectual Property Law was enacted in the year 1996 to protect the right of original work in the country. This regulation would contribute to increased number of patent in the following years, owing to the regulation of intangible right about ideas. More importantly, this law has continued to play a key role in encouraging innovative practices in the country.
In the year 1999, the Brazilian government would introduce ‘the Sectoral Funds for Science & Technology’ to ensure stable financial support and resources to projects stimulating knowledge, as one way of encouraging innovation. Brazil closed the millennium with a proposal of two government entities which placed a strong emphasis on actions directed towards the country’s industrial innovation and development.
Brazilian Agency for Industrial Development, founded in the year 2004, was the first entity, intended to promote technological and industrial advancement by increasing innovation and competitiveness (Vargas 15). The second entity was the ‘Center for Management & Strategic Studies’ which directly promoted study and research in science and technology for more innovative outcomes.
The year 2004 would see Brazil make a significant move in its attempts to embrace the power of change, by being the first Latin American country to adopt the law of innovation fully. The agenda behind this law was to promote, to encourage and to support every innovative effort in the country. The law would bring together business organizations and research institutions with the main of encouraging sharing of research findings for effective innovations.
Law 11.487, which authorizes the free use of fiscal benefits for firms having an investment in R&D, is the most recent law governing innovation in Brazil. Apart from encouraging domestic development, these laws give foreign corporations a chance to develop their businesses in the country through the spirit of innovation.
All these regulations provide excellent opportunities for all the driving forces required to generate future innovations, while opening new understanding in the meaning this would have on the social and economic development in the country and the rest of the world, where the power of innovation is yet to be realized.
Works Cited
Sennes, Ricardo. Innovation in Brazil: public policies and business strategies, Washington: Woodrow Wilson International Center for Scholars, 2010. Print.
Vargas, Marco. “Local Systems of Innovation in Developing Countries: a study of technological learning in local productive arrangements in Brazil.” Universidade Federal do Rio de Janeiro 193. 21 (2011): 1-29. Print.
Do you need this or any other assignment done for you from scratch?
We have qualified writers to help you.
We assure you a quality paper that is 100% free from plagiarism and AI.
You can choose either format of your choice ( Apa, Mla, Havard, Chicago, or any other)
NB: We do not resell your papers. Upon ordering, we do an original paper exclusively for you.
NB: All your data is kept safe from the public.