For a long time, science and business were viewed as two distinct worlds. Scientists were thought of as individuals who are solely dedicated to improving knowledge, whereas business professionals were responsible for transforming that research into new products and services. In order to boost innovation, more attention is being put on bridging the gap between these two areas.
This is especially relevant in fields of science, such as medicine, where taking effective decisions under pressure is crucial to success. This is also true for fields that are more applied like agronomy or computer science. In the latter case, a strong grasp of problem-solving and the ability to think critically about alternative solutions can make or break an enterprise.
The scientific method is also widely believed to be the most effective strategy for companies. This includes a commitment to testing and reiterating to achieve the desired outcomes. In addition, a clear understanding of uncertainty and risk is vital.
There are some commonalities between science and business but there are many distinctions. For instance, while business talks about sustainable profits, science concentrates on sustainability in terms of resource use. The desire for profit may cause excessive use of a resource, eventually leading to its exhaustion.
In the final analysis, whether you decide to pursue an academic career or business both require dedication and commitment. But if you have the right attitude the rewards can be immense.