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The Interdependence of Science and Business

0 Comments 07 August 2024

Science has been the basis of many of the significant technological advances across the globe. From new treatments for cancer and energy production to the latest computer chip technology. While innovation is the main driving of science business, it’s all about making money and keeping shareholders satisfied. Traditionally the business and science worlds have been viewed as separate entities. They are both interconnected and it’s impossible to separate their impact on business from the impact of research.

While businesses are focused on profits, the long-term effects of its decisions can have significant social, environmental economic, and environmental impacts. Science is likewise concerned with the impacts of its actions, especially its decisions regarding the exploitation of resources and sustainability. A shrewd business, for instance will exploit natural resources at an amount that science deems as sustainable – but the greed of some companies has resulted in over-exploitation and ecological catastrophe.

We have categorized the different ways that corporations try to influence science at the macro as well as meso-levels, and mapped the intended outcomes and effects of these strategies (TL performed the initial coding, AG second-coded 20 per percent of the papers). We discovered that corporations employ five macro-level strategies that work collectively to minimize the perceived credibility of unfavourable science and maximise favorable science. These strategies are operationalised through meso-strategies, which over time influence evidence in favor of the industry. This can result in three distal outcomes-to cast doubt about the potential harms caused by industry-related products and practices, promote industry-friendly policy responses and to maximize the use, consumption, and sales of industry products and services, thereby maximising profits for corporates.

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