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Stimulating innovation in industry: the challenge for the United Kingdom

Bowen, Alex and Ricketts, Martin, eds. (1992) Stimulating innovation in industry: the challenge for the United Kingdom. National Economic Development Office Policy Issues Series. Kogan Page (Firm), Michigan, USA. ISBN 9780749404468

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Innovation is crucial to business survival, competitiveness and growth. Moreover, its importance to economic development cannot be understated. So why do British companies fail to innovate sufficiently? And should support be more forthcoming from government? The team of economists, industrialists and academics writing in this study demonstrate that there is a direct correlation between the UK's under-investment in R&D and its poor economic performance. They tackle this issue by analyzing the fundamental problems and putting forward measures for their solutions. "Stimulating Innovation in Industry" explains how to promote the development of new products and processes, the reorganization of production and marketing within companies, and what help can sensibly be expected from government. It is stressed, however, that while the importance of innovation in achieving competitive advantage is clear, the proper objective of innovation must not be ignored: to satisfy the wants and aspirations of consumers. The message delivered by this book is simple: British companies must innovate and manage the process of innovation well if they are to prosper. Most importantly, they must invest more in R&D and education and training, understand their market and lead the way in international joint ventures. Innovation offers the key to success and any companies committed to gaining competitive advantage on a global scale must build originality into their strategic planning now.

Item Type: Book
Official URL:
Additional Information: © 1992 Kogan Page
Divisions: Grantham Research Institute
Subjects: H Social Sciences > HC Economic History and Conditions
H Social Sciences > HD Industries. Land use. Labor
T Technology > T Technology (General)
JEL classification: O - Economic Development, Technological Change, and Growth > O3 - Technological Change; Research and Development > O31 - Innovation and Invention: Processes and Incentives
Date Deposited: 06 Dec 2011 14:40
Last Modified: 16 May 2024 12:37

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