Funding in Academia Vs Industry
In industry, even though there are fewer projects to work on, schedules are tight, and deadlines are not to be missed, not finishing a project is not an option. On the other hand, We learned that the professors are the project managers in Academia and file for grants to fund their labs.
What are the consequences of not finishing research in Academia? How does the funding impact by not finishing research in Academia Vs industry?
I think the consequences of not finishing research in academia is generally the feeling of guilt and unfulfillment. While the research might not be as serious because they are not being intended to directly impact a patient, the feeling of not finish something does still linger on and eventually you will have piles of projects that have just been collecting dust. Not finishing research in academia does not seem to have dire consequences however, the temporary feeling of "giving up" and moving onto a new project is not something I would like to go through. I enjoy working a project from start to finish and seeing the meaningful contribution it will make. It does not seem like funding is impacted by unfinished research in academia because we learned in class that professors can access grant money when they please. However, in industry, everything seems like it can be affected by money no matter what. You cannot work on a project for an extended period of time especially if other companies and their money and resources are involved. There is also thee notion that professors are more concerned with gaining recognition in the field thereby increasing the load of projects and not finishing one in time.
This begs the question, should there be upper management to evaluate professors performances on their projects vs work output to accurately gain who is actually worthy of grants and funding?
Because research in academia is done for mainly the love of it and curiosity, the consequence of not fulfilling the research would equate to a feeling of failure and letting the "academia" down. Ironically there is no real loss because it is all a gamble to begin with. There are no set outcomes, no one knows what to expect, and no guaranteed results. The only thing that is guaranteed is the funding. Whereas in the industry there are contingencies that come with funding which practically serves as guarantees for results. But just as work is tracked and there are consequences in the industry, I think there should be some accords and more guidelines for academia as well.
The Nobel prize incentive of recognition and publishing should be considered as a decent excuse for an "upper management" figure for evaluating the performances of professors for their projects. A different form of this probably would not set the ball in motion for professors to finish their projects, as recognition will find them either way; whether they finish the project or not. I believe that a more satiable way of projects being finished would be to have a work output to accurately gain an understanding of which professors and researchers are actually worthy of grants and funding. The reason for this is because when projects are scrutinized on the actual attainability and functionality of the product, more factors regarding the production of it is actually worked on.
In my opinion, not completing research on time for both the academy and the industry loses the trust of the person applying for funding. In the academy, professors have a certain deadline to complete their projects and a certain grant they use for the project. Even if the project's timely delivery does not make a huge impact, I think that would not be good for the professor. In the industry, on the other hand, I think there will be stricter results because the deadlines are tighter.
I believe the consequences of abandoning a project has vast different consequences when it comes to industry and when It comes to academia. I believe that in industry money speaks for all. Everything revolves around money and if something can make the company more money, whatever that way is will succeed. The addition of a new technology often times at least in my experience, however cool it might be, would have to go through a cost benefit analysis. To see if it is really necessary to be utilized. Similarly, a new project if it was approved and was ultimately disbanded causes a big problem as that money will not be able to be recovered, where as in industry things like grants and funding from different sources is the primary reason for why it is more relaxed. A company's major goal as we learned is to make money and if an objective dosen't make money then it's considered a liability as the company looses money that it cant get back or make profits from. In industry if a project fails the mentality is that it was one way a project failed, or the scientist found a way that it didn't work, not a liability.
The consequences of not finishing research in Academia could be strike against your grade or your record but you will most likely be able to turn in the assignment late or you can be removed from the research team and replaced with another researcher. The funding impact by not finishing research in Academia and industry differ due to the priority of the research between the two. Academia research is set to learn things and have many grants behind them to back them up. Their are a lot of projects in Academia and some do not even finish. However, Industry is set to explore upon already learned research to create a benefit for humanity. They have few projects that they put great care into has they get few grants. So not finishing research in Industry field will yield a far worse result than in Academia.
The consequences of not finishing research in academia would be more internal. Getting into academia is usually for those who love what they do. They love research and they love teaching and helping students. It’s different from the industry where there are deadlines that must be met, and people over your shoulders putting extra pressure on you. Academia is less intense. There are deadlines for funding, but the pressure to get them done is all on the professor. However, if they don’t write grants and apply for funding, then they are limited on the kind of research that they can do. In industry, if research isn’t done by deadline, the funding is dropped. They are competing with others in the same industry, so the deadline is pretty strict, and can impact a lot of people.
I think the consequences of not finishing research in academia is more of the researcher having felt like they have not met their goals. In research the goal is always to answer the question that you want the answer to. However, the impact is not always lifesaving and is sometimes just for learning purposes. The funding impact by not finishing research in the industry has a much larger impact than in the academia setting. In the industry there are deadlines that cannot be missed, and everything is very fast-paced and funding to do research is taking very seriously. In academia the funding for research is not as crucial as professors can access grant money whenever they need to.
The consequences of not finishing research in academia are more so on the students’ fear of failing or fear of success. Students who want to succeed are often, understandably, afraid of failure. Similarly, parents of students are afraid of seeing their children fall prey to academic failure since so much of today’s modern society seems to depend on academic success for upward mobility. Of course, academic failure does not always depend on the student alone. Plenty of students finds themselves in situations that thwart their failure, often due to socioeconomic status and issues with education inequality. Failure in small doses is actually crucial to learning. However, when students completely fail academically, this means that they are unable to overcome the small failures over time to learn and grow and eventually succeed. There are many causes of student failure, and these causes could be looked at in various ways. But here are some common reasons for student academic failure, starting with perhaps the most insidious: fear. Fear of failure, or even fear of success, causes failure. This seems unjust, but it’s unfortunately true. Many students allow their fear to overcome their ability to complete essential tasks that will help them succeed academically. Some students fear failure, so they neglect their studies and stop trying, hoping that if they do not try then they will not have to feel bad about failing. This kind of fear can occur in students who are overachievers or who do not believe in themselves academically. Educators can help students overcome their fear of failure by reminding them that they can learn from failure when they experience it. Other students fear success, which is common among students who are worried about the responsibilities they will face if they succeed or the ways their lives might change once they succeed. They might fear college life or a difficult career if they should succeed. Sometimes students are afraid of leaving others, like family members or friends, behind if they succeed. These students need to be reminded that they are in control of their lives and can decide how far they go. But if they do not reach their full potential, they will be depriving the world of their gifts.
Not finishing a project on academia can lead to a feeling of inadequacy and failure for those who where on the project. Grant money is crucial for academia projects, or researchers cant get their work done, and some others cannot get paid. Although deadlines are not as strict as in industry, there still needs to be results shown at the end. I don't there is much of an option to not eve finish a project in industry, since deadlines are strict to meet possible projected sales.
Not finishing or prolonging a project in academia leads to loss of funding, simple as that. Showing up to do the work is only half the battle, ensuring that the lab stays funded is the other uphill battle that constantly needs reinforcements. A few other consequences are delayed qualifying exams and dissertation defenses because graduate students do not have the necessary funding to collect or finish their data, lapses in experiment progress, and lack of vital supplies to complete the research. Funding is a huge constraint and by far the most important aspect behind the research done. Not finishing research can create a lack of confidence and sponsors may not award grants in future, loss of momentum in the important work that was done, and possibly even lab closure at the most extreme level. Funding for research is only getting tighter, so I wonder what new consequences will avail in time where people aren't believing the science?
You made some valid points. I recently realized that funding within academia isn’t as much as it is within industry. Research in academia has many pros; companies aren’t relying on results to put products on the market, whereas resources within industry are stricter and more dependent on manufacturing and results to produce products for patients. Industry also has deadlines for testing to be completed, opposed to academia, research is pretty much done at your own pace. Funding for industry is also provided to companies for guaranteed results like you stated.
@ljatta In academia, there is an abundance of projects one can choose from. I agree that not finishing a project would lead to some repercussions and a lack of confidence, but realistically, not all projects will succeed. I would think it would be some projects that fail and have to be strapped. I do believe completion of a project /research will lead to a boost in reputation, access to more funding, and partnerships with biotech companies.
It is the opinion of the writer that based on the information that was provided in Dr. Simon's presentation on Pre-Clinical Research, most researchers in academia rely more so on grants; meanwhile, individuals who work in the industry setting rely more so on their budget. If they miss a deadline, it is the writer's belief that they would be faced with serious consequences. If the individuals who work in Academia miss their deadline, they may not be trusted to renew any pre-existing grants that they may have. If individuals who work in the Industry environment miss their deadline, they may not be able to receive any money either. Based on the information provided in this week's lecture, considering that the industry researchers rely heavily on their budget, they would most likely be unable to move forward with their existing research. Not only does the industry rely on deadlines, they will also withhold money if tasks have not been properly executed in a timely manner or if they have requested more than they expected originally, they would still be unable to receive the funds.