This volume is the definitive primer on the measurement of innovation and the implementation of strategies for innovation.
— Lynda D. Carlson, PhD
This book skilfully connects the challenge of developing innovation policies with the development of statistics and indicators needed to evaluate and monitor these policies.
— Andrew Wyckoff, OECD
This path-breaking book integrates theory, case studies, data and policy insight into a unique take on innovation processes and government action.
— Keith Smith, Imperial College, London, UK
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.
Fred Gault is a Professorial Fellow at UNU MERIT, The Netherlands, and Professor Extraordinaire and Member of the TUT Institute for Economic Research on Innovation (IERI) at Tshwane University of Technology (TUT), South Africa.