Edited by Claudio Petti
Innovation, new discoveries and technologies are widely recognized as the engine of societal well-being and progress. Despite the global financial crisis and high levels of unemployment in many parts of the world, research, innovation and science are seen as even more fundamentally important in fostering smart, sustainable and inclusive growth. Indeed, the European Union set this out in its Europe 2020 strategy and within it, the Innovation Union flagship initiative. Development and growth are not simply an immediate and systematic result of technological research and development. Entrepreneurial efforts are required to identify and exploit new products or services that reward the stakeholders in terms of benefits and profitability. Such technological entrepreneurship depends on people, as well as on the right mix of specific institutional and environmental conditions to incentivize entrepreneurs to innovate. Innovation takes place in different forms everywhere in the world – in industrialized, emerging, and developing economies. China is keen to foster innovation for the development of the economy and society, and has attracted international interest as its R&D budgets continue to soar. China hopes to transform its growth from a model based on low valueadded manufacturing to one that is increasingly centred on domestic, high-end, business sector-led innovation, as described in its 12th FiveYear Plan. Over time this has led to the emergence in China of strong global companies in advanced sectors – such as information technology, telecommunications and renewable energy. Current academic views range from the possibility to extend, expand or even redefine current management theories, a...