Section 1: The Context of Management research: 1.Past economic trends of scientific research reveal that, it contributed towards employment and growth (Romer, 1994), as well as influencing the proportional improvement of the industrialized countries, this is strictly through proficient and timely production, dissemination and consumption of management research. This definitely has an implication that, research has a hand in economics, and the vice versa is true (Jaffe, 1989) due to the fact that, a stable economy implies that research proposals shall be funded effectively for production, dissemination and consumption of the respective research results.
Simply put the dynamics of economy can promote and at the same time restrain research developments of innovation, inventiveness, edification, and cooperation The impact by the “peculiar economy” of science is indisputable, this is because it has affected the scientific labor markets and the human capital embodied in scientists, and hence inevitably the production, dissemination and consumption of management research works (freedman, 1960). For instance it has affected the dissemination of management research results, this is, “the flow that moves technology from the source to the users during a certain time period, by means of provided channels” (Coccia and Rolfo, 2002).
Such provided channels include, communication, logistic, distribution channels, which are malfunctioned if a good amount of funds is not injected in. For knowledge to be produced vigor research has to be undertaken, right from the time of the proposal, to data collection, to its analysis, discussion and the evaluation of the output, that involves the calculation of indices indicating the production, productivity or impact of research groups (Stephan, 1996), lots of funds have to be inculcated into the mentioned phases.
Purely without any fund or less the whole process shall have been killed. Hence, the implications of the ‘peculiar economy’ of science to production of management research results are vehemently undesirable. The ‘peculiar economy’ of science to consumption of management research results has an implication that the society at large will not be exposed to these results. Thus the changing role of management research to society will have lost meaning, since there is no innovation that the society can use to advance their knowledge, hence shape themselves as well as the society (Dasgupta & David, 1994).
For instance how does the society mitigate various environmental degradations if they can not utilize certain information generated by researchers to do so? It becomes purely difficult for them. The ‘peculiar economy’ of science does also indicate that along the line production, dissemination and consumption of management research there will be loop holes of lack of transparency and quality research work, since to eke for a living the researchers shall either be selfish with their works or only give bits and pieces of inaccurate information of their work, this obvious affects the allotment of scientific information (Arrow, 1962).
Another consequence of this is the publication of works of scientists that are known (Merton, 1968) due to believe that their work is the best and hence will be “eye catching” if published. In this context what the ‘peculiar economy’ of science implies is purely a functionless ‘machine’ of management research production, dissemination and consumption, because these three cannot work efficiently if no funds are available (Mulkay, 1976).