We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Innovation policy - Essay Example

Comments (0) Cite this document
Companies and governments all around the globe make extraordinary efforts to generate, improve and enhance technology. Several multinational corporations each spend over $3 billion annually on research and development (R&D). In fact, according to Dodgson and Bessant (1996), the seven of the largest Organization for Economic Co-operation and Development (OECD) countries1 collectively spend over $300 billion every year on R&D…
Download paper
Innovation policy
Read TextPreview

Extract of sample
Innovation policy

"In addition to the industrial policies that governments pursue in line with their political philosophies and models of economic growth, some governments develop public policies with varying degrees of explicitness, intended to encourage innovation" (Dodgson and Bessant 1996, p.23).
To illustrate the role of government in the process of innovation, Shonfield (1981) postulated as his point of entry that public policy-makers need not, or more strongly should not, be concerned with economic innovation, and the to ask what conditions have to be fulfilled by market processes to secure an optimum outcome. This was his first step in his argument: even if it could be shown that the market process was deficient, it would not follow that intervention by public authorities would produce a better answer. Shonfield goes on saying that if markets were to go on their own without intervention from the government as to how they would manage the scientific environment, markets should be able to provide innovators the necessary environment for them to carry their work. This would include the necessary perks to encourage people to innovate.
As discussed by Shonfield (1981, p.4), another problem is the measurement: calculating social preference. Social preference here means which projects the society wants to prioritize and those types of innovations that the society wants to set aside for the moment This is partly because market signals are necessarily limited to expressing the preferences of contemporaries. Shonfield's third requirement is that markets must be able to regulate the effects of economic innovation on public goods.
On the other hand, Branscomb and Florida (1999) cited the importance of the government's role in support of science and technology on regulating the two kinds of so-called "spillovers." "Knowledge spillovers (italics mine) derive from the public good nature of knowledge, combined with the difficulty of keeping economically useful knowledge secret when it is profitably exploited. Such spillovers can be derived from reverse engineering, when some aspects of a competitor's technology may be discovered by examining how the product is made. Even negative information, the abandonment of a line of work by a respected competitor, for example, can be a useful spillover of his decision" (Branscomb and Florida 1999, p. 30).
Branscomb and Florida's second type of spillover is the consumer surplus spillover, which results from the creation of new goods or the improvement of existing ones. "The innovator captures only part of the consumer value in the sales price; there may be a social surplus that exceeds the innovator's profit. Research tends to generate more knowledge spillovers, which is a reason for government support, but research, by itself, cannot generate more knowledge spillovers. Private firms have inadequate incentives (to varying degrees, depending on market structure and other considerations) to take new ideas to market. Furthermore, the transfer of potential useful ideas from the government or university ... Read More
Cite this document
  • APA
  • MLA
(“Innovation policy Essay Example | Topics and Well Written Essays - 2500 words”, n.d.)
Retrieved from https://studentshare.net/politics/308511-innovation-policy
(Innovation Policy Essay Example | Topics and Well Written Essays - 2500 Words)
“Innovation Policy Essay Example | Topics and Well Written Essays - 2500 Words”, n.d. https://studentshare.net/politics/308511-innovation-policy.
  • Cited: 0 times
Comments (0)
Click to create a comment
Policy Innovation Application Paper
If there is an issue that now confronts not only the United States and the rest of the world, it is the urgent environmental problem of climate change that poses a great threat to our lives, property and way of living. “Yet, up to now, our national government has failed to respond with initiatives appropriate to what looms ahead (Aulisi et al., 2007).” Despite the complacent stance of the Federal government on the issue of climate change, there are however many states in the U.S.
3 Pages(750 words)Essay
Creativity and Innovation
Issues to consider when creating innovation………………………………………3 -People -Environment -Customers -market availability 4. How the above issues could generate value to the company……………………..5 5. Conclusion……………………………………………………………………….
6 Pages(1500 words)Essay
Innovation Policy
International trade is another important factor that has received significant impact from the technological changes. One of the impacts on international trade from technological changes has been the determination of importer and exporter positions. Countries with dominance in technological advancements have taken the position of becoming importers.
10 Pages(2500 words)Essay
Innovation and Change
Many policy makers are positing that the major driver of a nation’s well being and economic progress is its innovative activity. In addition, these activities are vital in the build up towards addressing global challenges like sustainable development and climate change (de Serres, Kobayakawa, Slok and Vartia, 2006).
13 Pages(3250 words)Essay
Both researchers as well as business managers deem innovation as “life-and-death matter for a firm” (Weiss, 2013). The extreme threat of competition and continued need to fight for survival fosters organizations to bring innovation into their system. Researchers from the field of business and management have found that organizations which have the capacity to innovate can respond at a much faster pace to the challenges of the environment than companies which lacks innovative capacities.
16 Pages(4000 words)Essay
Regional Innovation Policy
With the revolutionizing economic scenario in the global context, the innovation is not concentrated in a single firm or institution. To remain competitive and make substantial economic and industrial developments, it is indispensable that efficient transfer of knowledge and technology takes place between and amongst all the actors of the economy.
8 Pages(2000 words)Essay
Innovation and Development
This is the case of the United Nations. The path to a widespread development is not easy in any way. The United Nations do their best to find solutions, but the causes behind poverty and lack of development are very complex. A logical solution lies in improving the education level in the developing countries.
12 Pages(3000 words)Essay
The Particular Challenges Facing Science, Technology And Innovation Policy-makers In a Rapidly Industrialising Nation State
According to the report knowledge, innovation and technology are interrelated concepts. Knowledge innovation has been defined by Amidon as the creation, evolution, exchange and application of new ideas into marketable goods and services vital to a nation’s economy and beneficial to the society as a whole.
10 Pages(2500 words)Essay
Describe and assess the evolution of China's science, technology, legal system and innovation policy
The advancements in the area of science, technology, and innovation that China has realized over the past few decades is attributable to the commitment of the Chinese government to promoting science, technology and innovation. The Chinese
3 Pages(750 words)Essay
Google relies heavily on innovation for its growth. Google recruits “the best and brightest”(top GPAs,top schools, in spite of experience and age).It has also created atmosphere which is the desire of every
1 Pages(250 words)Essay
Let us find you another Essay on topic Innovation policy for FREE!
Contact us:
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us