Biotechnology is outlined as the industrial exploitation of residing organisms or the exploitation of components derived from these organisms. Many individuals mistakenly consider it’s expertise which drives innovation. But from the definitions above, that is clearly not the case. It is alternative which defines innovation and know-how which enables innovation. Think of the basic “Build a better mousetrap” instance taught in most business schools. You might have the know-how to construct a better mousetrap, however in case you have no mice or the previous mousetrap works effectively, there isn’t any opportunity and then the expertise to build a better one …