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 10: New Directions

Fred Gault

Subjects: innovation and technology, innovation policy


INTRODUCTION This chapter presents some medium-term and short-term activities to advance the understanding of innovation strategy development, implementation, evaluation and learning. Chapter 11 provides some tasks for those engaged in the activities. MEDIUM TERM This section identifies six themes for more policy or measurement development. They are: analysis of the existing microdata on innovation; innovation without research and development (R&D) and user innovation; learning and failure; network analysis and complex systems; public sector innovation; and the science of innovation policy. They are chosen for special attention because of their potential impact on the understanding of innovation, leading to the possibility of finding more effective ways to promote innovation and related economic and social objectives. In September 2006, 250 people from 25 countries gathered in Ottawa for the second OECD Blue Sky Forum, the previous one having been in Paris in 1996 (OECD 2001b). There had been previous ‘blue sky’ meetings on indicators at the Organisation for Economic Co-operation and Development (OECD), reviewed by Colecchia (2007), but the 2006 forum provided a place to bring together discussions of a systems approach to understanding a global, complex, dynamic and non-linear innovation system. This led to proposals for new work with the hope of insights into how parts of the system worked. Participants put the case for moving innovation analysis from the study of activities, such as R&D and innovation itself, towards linkages, outcomes and impacts, while not stopping the decades of work on measuring activities (Gault 2007a). They called for...

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