The assignment attempt to provide a number of learning opportunities based at different levels of understanding of the global network, specifically within the mobile communication and social media environments.
The Global Network is any communication which spans the entire earth.Present innovation age involves partnership from the suitable entities in order to carry out research wherein each entity contains some specified skill set. On similar lines to the development of global economy wherein several entities have played their role, global innovation process involves partnership from different entities and forms the basis of sophisticated innovations. In order to simplify the global innovation worldwide innovation networks are formed at local as well as global level. These innovation network are portraying efficient and better innovation platform for the organizations worldwide.
Business leaders in present age emphasize largely on the process of innovation in order to compete against their rivals in the market. According to CISCO 2005 study, innovation is the most important factor for the long term sustainability of the organizations but it contains high amount of risk for the organization undergoing innovation process. Innovation is generally considered as the high risk and high investment venture made by the organizations wherein the returns to the organization are not guaranteed. Spreading research and development process around the clock would help in order to bring faster innovation, accelerate developmental cycle, cheaper innovation process and lesser risk (Strumsky et al, 2010). Multinational organizations are spending huge money in present age for innovation ranging from genetic to molecular research. Technology leaders are investing in order to develop chip set and software in countries like India, China, France, Germany, Japan and US etc. Texas instruments is one of the leading organization involved in research process from Chip set to software and looking for top brains from 100 information technology companies ranging from Berlin to Bangalore. This has helped Texas Instruments to maintain their dominance in $5 billion industry for consumer electronics and cell phone.