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Innovation Strategies for a Global Economy

Development, Implementation, Measurement and Management Fred Gault, Professorial Fellow, UNU-MERIT, the Netherlands and Professor Extraordinaire and Member, TUT Institute for Economic Research on Innovation (IERI), Tshwane University of Technology (TUT), South Africa
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.
A Co-publication with the International Development Research Centre
Extent: 232 pp
Hardback Price: $128.00 Web: $115.20
Publication Date: 2010
ISBN: 978 1 84980 036 5
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  • Innovation and Technology
  • Innovation Policy
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.

A better understanding of innovation and innovation policy may result in improved economic and social outcomes from these activities. The book therefore begins with an exploration of the language and system framework used to discuss innovation, and the statistical indicators needed to describe it. The author provides a critical assessment of innovation policy development, monitoring and evaluation, and considers innovation strategies, their components and management. He concludes by prescribing directions for new work in developed and developing countries.

Academics engaged in the study of innovation policy, its monitoring and evaluation, will find this book to be of great interest, as will graduate students in the fields of business and management, and sociology. It will also strongly appeal to governmental policymakers and statisticians responsible for innovation statistics.
‘This is a refreshingly candid and critical examination of the origins, purposes, strengths, weaknesses, and implications of statistical regimes for assessing national innovation performance. . . The book is also an immensely useful general introduction and guide to the field – a rare bream of bright light that illuminates many murky corners along this policy corridor. It should be required reading for any public servant who holds an innovation policy portfolio. . . this is an invaluable addition to the indicator literature from someone who knows the theoretical and practical issues inside and out as few others do. . . this volume will be a welcome addition to the libraries of national statisticians, public servants in economic policy portfolios, and academics alike. I expect that it will be widely cited and very influential.’
– Richard Hawkins, Science and Public Policy

‘The book is a valuable contribution to the “science of innovation policy”. Scholars of innovation and decision-makers in government and private sector will find Professor Gault’s book a source of new ideas and practical experience on designing innovation strategies to manage change in a global economy that is under increasing flux due to rapid technological advances, increasing threats from climate change, and globalization.’
– John Mugabe, South African Journal of Science

‘Dr Gault has been on the forefront of innovation measurement and indicators for many years. With the publication of Innovation Strategies for a Global Economy, he has moved substantially beyond the realm of measurement. In this volume he has succinctly linked the role of measuring innovation to the development and implementation of innovation strategies. The volume is unique in addressing both the measurement and implementation of appropriate innovation strategies in developing nations. Over the last decade Dr Gault has become an expert in this area and his expertise is clearly on display. Without a doubt, this volume is the definitive primer on the measurement of innovation and the implementation of strategies for innovation.’
– Lynda D. Carlson, PhD

‘Innovation Strategies for a Global Economy skilfully connects the challenge of developing innovation policies with the development of statistics and indicators needed to evaluate and monitor these policies. Fred Gault brings an insider view to both areas which is exceedingly rare and badly needed.’
– Andrew Wyckoff, OECD, France

‘For decades, many in the indicators community have looked to Fred Gault for new ideas and organizing principles. Gault continues to play this informative and inspiring role in his new book on the intersection between policy and indicators. His ideas will make a substantive contribution to the way in which innovation policy is made.‘
– Eric Von Hippel, Massachusetts Institute of Technology Sloan School of Management, US

‘This path-breaking book integrates theory, case studies, data and policy insight into a unique take on innovation processes and government action. It is a much-needed advance in the intellectual foundations of innovation policy.’
– Keith Smith, Imperial College, London, UK
Contents: Preface Part I: Issues and Frameworks 1. A Challenging World 2. A Systems Approach Part II: Definitions and Measurement 3. Talking About Innovation 4. What can be Measured? 5. How are Indicators Used? Part III: Innovation Strategies 6. Innovation Strategies, Advice and Direction 7. Innovation Strategy Components 8. Innovation Strategy Coordination Part IV: Extending the Community and the Subject 9. Innovation and Development 10. New Directions 11. The Roles of the Players Appendix A: Sources of Information Appendix B: Examples of Research Projects References Index