Chapter 1 - Comparison of academic and industry environments

Abstract

University and industry environments contain incentives for very different products and behaviors, yet these two environments are highly dependent upon each other. Academic and industry environments interact and complement each other in many ways. Students need the basic education they can obtain only at the universities. Ideas and innovations are fostered in both environments and exchange takes place through publications, patents, employees, collaborations, etc. Large-scale production and commercialization are carried out in industry. A complex interchange of resources takes place. To fully appreciate this, it is essential to understand the two environments and their cultures in terms of their incentives, individual foci and goals. In this regard, this chapter provides an understanding of the culture and mindset of academia and the industry. Based on this understanding, it discusses some skills for success in the traditional academic environment and in the industry environment. This understanding is necessary to decide from the choices of a predominantly academic or an industrial career. Finally, this chapter presents an example of a simple mindset assessment in the form of a questionnaire, which can help a person decide if he or she is better suited for an academic or an industry oriented career. Under this, the study also highlights that the two mindsets differ in several, but not all characteristics, and that it is helpful to understand what one's work style before applying for a job, going to a job interview, and holding a job.