The Importance of Research and Innovation in a Competitive Product

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The film "Joy"

The film "Joy," outlines relative advantage as one of the outstanding characteristics of a competitive product. From the movie, it is evident that the product should have a relative advantage regarding how improved the innovation is from the competing products in the market. Additionally, Jennifer notes with concern that since it is a new idea or rather an improvement to what the consumers have already, it will be crucial for a research and innovation team to conduct customer data gathering to offer validation for any claims of the product. In addition, the film articulates that it is critical to create a product that is easy to assimilate into the lifestyles of the users. Further, no user would want to have a product that does not fit in well within their lifestyle or one that becomes obsolete too fast.

Research ethics and the movie

The movie is well connected to research ethics, especially at the scene where Joy and her mother have to work throughout the night to come up with unique products for their business. She maintains ethics by not following through most of the industry players who engage in drugs among other unscrupulous ways they utilize to make some income. Joy is well aware that her products must be unique and not copied from someone's innovation. Additionally, when she finally gets a breakthrough for her discovery, she is keen to patent it and owns the rights to the idea. All these she does with explicit knowledge of the industry she is joining and how unforgiving a single mistake can be for her.

Important lessons from the movie

The most important lessons from this movie include the Inspiration and rise to beat all the odds to make an excellent entrepreneur. All they require is a brilliant idea and a framework of knowing when to strike. Also, the industry can be very competitive, and one's ideologies might either crumble or build his or her an empire. In addition, one should choose his or her allies wisely and make good use of the enemies along the way.

September 25, 2023
Subcategory:

Movies

Number of pages

2

Number of words

348

Downloads:

58

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