Fred Gault. Innovation Strategies for Global Economy: Development, Implementation, Measurement and Management.
Article Type: Book review
Subject: Books (Book reviews)
Author: Ajaz
Pub Date: 06/22/2010
Publication: Name: Pakistan Development Review Publisher: Pakistan Institute of Development Economics Audience: Academic Format: Magazine/Journal Subject: Business, international; Social sciences Copyright: COPYRIGHT 2010 Reproduced with permission of the Publications Division, Pakistan Institute of Development Economies, Islamabad, Pakistan. ISSN: 0030-9729
Issue: Date: Summer, 2010 Source Volume: 49 Source Issue: 2
Topic: NamedWork: Innovation Strategies for Global Economy: Development, Implementation, Measurement and Management (Nonfiction work)
Persons: Reviewee: Gault, Fred
Accession Number: 257512108
Full Text: Fred Gault. Innovation Strategies for Global Economy: Development, Implementation, Measurement and Management. Edward Elgar Publishing Limited, 2010, International Development Research Centre, Canada.

Fred Gault has made an impressive effort to direct attention towards the importance of innovation to the growth of the economies. The discussion centres around the need for pursuing the kind of innovation strategies that are likely to succeed and the measurement of the degree of innovation in a country. The indicators of innovation used by the different surveys to measure the degree of innovation across countries have been discussed. The formulation of such indicators has been explained at length. The author also emphasises upon the need to bring the subject of innovation into research and development. He conducts thorough analysis of impediments in this regard.

The author makes some very useful suggestion aimed at encouraging innovation. He highlights the innovation strategies pursued successfully by the developed world including the OECD countries and the European Union. Next the author ventures into a discourse on the different components of an innovation strategy that would stand a reasonable chance of success. The discussion emphasises upon the need of coordination amongst different organisation as a key element of a successful innovation strategy. The author suggests that organisation structures conducive to engaging the different stakeholders involved innovation should be promoted.

In the final part of the book the author has discussed different avenues where innovation strategies could be employed to enhance the capacity of the systems. One such candidate, picked for innovation by the author is the policy formulation itself. The book concludes with an assessment of the role played by the key players in supporting innovation in the private sector as well as the public sector across the globe.
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