Innovation Strategies for a Global Economy

Innovation Strategies for a Global Economy

Development, Implementation, Measurement and Management

Fred Gault

This book is about innovation strategies for a global economy, their development, implementation, measurement and management. Following the global economic crisis, people are asking: what went wrong? Here, Fred Gault illustrates that a part of the problem was innovation in financial services, which resulted in the release of attractive new products to the market that diffused rapidly and then lost value. This book considers innovation and how policies are developed and implemented to support it. In so doing, framework conditions such as market regulation and the cost of doing business are examined to discover how future problems could be avoided.

Chapter 5: How are Indicators Used?

Fred Gault

Subjects: innovation and technology, innovation policy

Extract

INTRODUCTION Chapter 3 developed a language for the discussion of innovation and Chapter 4 provided examples of the application of that language to the development of surveys and the interpretation of their results. This chapter looks at how those results can be used. An observation made by Arundel (2007) is that innovation indicators are not used for policy purposes even though they have been available from several rounds of the Community Innovation Survey (CIS), the first being for reference year 1992. Various explanations are provided that include the dominance of well-established research and development (R&D) incentive programmes, and the Lisbon target of 3 per cent of gross domestic product (GDP) to be allocated to R&D. In the US in 2009, there were no official statistics on innovation to use to support policy analysis, but this is changing. Over the years, academic research has provided little policy guidance, and country comparisons of innovation activities have been made difficult by problems of accessing the data. Arundel (2007) also stresses the importance of innovation not based on R&D, and cites the Aho Report (CEC 2006a) and the Competitiveness and Innovation Framework Programme (CIP) (CEC 2005) to support the importance of the diffusion and application of technologies which may not necessarily involve R&D. The diffusion and application of technologies (and practices) raises the significance of the role of user innovation, which has not been part of the innovation policy debate. User innovation and non-R&D-based innovation are also relevant to...

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