Question & Answer: TDA Research is a research and development house that creates new products based on chemistry. Since they lack the expertise to perform the manufacturing, they license the technology to production houses like 3M or Monsanto; this is how they make their revenue……

TDA Research is a research and development house that creates new products based on chemistry. Since they lack the expertise to perform the manufacturing, they license the technology to production houses like 3M or Monsanto; this is how they make their revenue. This money making approach is related to:

a. Collaboration

b. Context

c. Competitors

d. Customer

Expert Answer

a. Collaboration

Cooperative arrangement in which two or more parties (which may or may not have any previous relationship) work jointly towards a common goal.

2.Knowledge management (KM): Effective method of transferring ‘know how’ among individuals, therefore critical to creating and sustaining a competitive advantage. Collaboration is a key tenet of KM.

3.Negotiations: Conflict resolution strategy that uses both assertiveness and cooperation to seek solutions advantageous to all parties. It succeeds usually where the participants’ goals are compatible, and the interaction among them is important in attaining those goals.

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