Nobody downloaded yet

Innovation and Development - Essay Example

Comments (0) Cite this document
Summary
There is no doubt that the developing countries need innovation policies. This answer seems to be logical, but the reason it's not so obvious. There are many institutions worldwide that are devoted to looking for solutions that can reduce poverty drastically in the planet…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER91.4% of users find it useful
Innovation and Development
Read TextPreview

Extract of sample "Innovation and Development"

Download file to see previous pages But there are many obstacles to a real climate of development in those countries. One big issue is political corruption. This is one of the most difficult problems that need to be overcome for the developing countries to find a way out into higher levels of socioeconomic development. The United Nations through some of its institutions studies closely all the issues related to development and poverty reduction. Innovation policies will indeed help any developing country to find an appropriate climate for competition that can produce structural changes in favour of a real enhancement of the socioeconomic development.
"According to World Development Report 1998 (WDR) in addition to taking advantage of the large global stock of knowledge, the developing countries should develop the capability to create knowledge at home. It also acknowledges that 'some types of knowledge must be built from the ground up'. This capability to create knowledge at home must encompass not only strategies to develop knowledge locally but also policies and mechanisms that will eventually enhance the capability of the nation to absorb knowledge. Together these would constitute public innovation policies in the developing-country context."
As we can see from these assertions, innovation policies are necessary in order for the developing countries to adapt themselves to this new knowledge society in which the globalization process is a reality in every corner of the planet. Dr. Mani (2003) speaks about the market shortcomings in the following terms:
"Further the recent Human Development Report 2001 of the UNDP also states that the market is a powerful engine of technological progress, but it is not powerful enough to create and diffuse technologies needed to eradicate poverty. Even in the network age, domestic policy still matters. All the countries, even the poorest, need to implement policies that encourage innovation, access and the development of advanced skills."
Once again the need for innovation policies seems to be a priority in this new scenario of global restructuring among all the nations with a transition period from an industrial-manufacturing society to a knowledge society. But there is a very common problem in most of the developing countries regarding the lack of innovation policies or even the awareness of their existence as a tool that can increase the competitive advantage of any enterprise in any market leading to sustainable development thanks to the power of innovation. Dr. Mani (2003) addresses this problem as follows:
"Most developing countries do not have a policy on innovation, as it is generally believed that developing countries do not engage in any innovative effort at all. At best they are expected to undertake incremental innovations, which are basically the adaptation of imported technologies to local conditions. But the recent growth experience of some of the developing countries and especially those from East Asia shows that they have become generators of new technologies."
We have South Korea and Singapore as relevant ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Innovation and Development Essay Example | Topics and Well Written Essays - 3000 words”, n.d.)
Innovation and Development Essay Example | Topics and Well Written Essays - 3000 words. Retrieved from https://studentshare.org/politics/1519172-innovation-and-development
(Innovation and Development Essay Example | Topics and Well Written Essays - 3000 Words)
Innovation and Development Essay Example | Topics and Well Written Essays - 3000 Words. https://studentshare.org/politics/1519172-innovation-and-development.
“Innovation and Development Essay Example | Topics and Well Written Essays - 3000 Words”, n.d. https://studentshare.org/politics/1519172-innovation-and-development.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Innovation and Development

Innovation & Development Assignment: case of PepsiCo

...? Innovation & Development Assignment Contents Introduction 3 The NPD Environment 5 Technological Complexity 5 Environmental Uncertainty 6 NPD Process selection 8 The NDP Strategy 10 Information and Research Strategy 10 Product or Service differentiation Strategy 11 Development Process and Tool 12 Development and Commercialization Strategy 14 Conclusion 15 Reference 17 Introduction The words innovation and innovative are bantered in the business, media and everyday life. The words have evoked a feeling of progress with technology. Innovation is one of the driving forces towards welfare and contributes highly in the...
16 Pages(4000 words)Term Paper

New product development and product innovation charter

...? New product development and product innovation charter Introduction New product development strategies are dependent on the product innovation charter. The fact is that a company cannot endeavor in developing a product before strategizing on the ongoing trends of consumer behaviors (Shavinina, 2003). Therefore, the vital approach to every new product development process is to master the ongoing tastes and preferences of the consumer. Thereafter, a company will have the ability to establish the product innovation charter in relation to its goods and the market. Therefore, a white product manufacturing company must...
10 Pages(2500 words)Essay

Entrepreneurship, innovation, economic development, and sustainability

...?Entrepreneurship, innovation, economic development, and sustainability Entrepreneurship, innovation, and economic development are all interrelated to each other. Entrepreneurship spreads with innovation. When too many people enter the market to do the same kind of business, the market gets saturated and there remains little scope for the entrepreneurs to make profit. While this has always been the trend, people in the present age have become even more specific about the element of innovation in the new products and services. This is evident from the popularity of Apple Inc. in the masses all over the world since Apple Inc. is known for...
3 Pages(750 words)Essay

Innovation and development

...? Innovation and Development Table of Contents Table of Contents 2 Introduction 3 Definition of Innovation 3 Role of innovation in organization and business 4 Discussions 5 Theory of Innovation 5 Changes in the demands of the customer needs and wants 6 How Development of New Products Changed Due To Situational Changes 8 Analysis 9 Findings 10 Conclusion and recommendations 11 References 13 Introduction In this age of stiff economic downturn and tough competitive scenario, the definition of innovation is changing at a rapid pace. It is mainly because, the concept of innovation is used by the organizations...
12 Pages(3000 words)Essay

The importance of sufficient postpartum care and how it is vital to a successful post-birth experience for both mother and child

14 Pages(3500 words)Essay

Innovation and New Product Development:

...Describe and discuss the reasons why many firms engage in innovation and new product development with external collaborators, rather than alone. This essay is concerned with the definition of innovation, its role in improving business strategy of competition in the market since innovation is the application of new ideas to the products and new strategies of a firm to compete better in the market. The focus of the essay is to study the stance that innovation is only possible with external collaborators. Very substantial studies are available to prove this point of view; our concern is, by sifting through the studies and by citing different firms', who have...
4 Pages(1000 words)Essay

Entrepreneurship, Innovation, and Economic Development

...Entrepreneurship, Innovation and Economic Development Introduction: Company Overview Shopcaster Incorporation is headquartered in New York. It is providing online along with mobile social facility, which enables the various Canadian independent retailers to exhibit and sell products online through Shopcaster’s online stores. The company was established in the year 2011 by Judy Sims, the founder & CEO. Aron Jones is the Co-Founder & CTO of the company. Shopcaster operates in different locations that include Toronto, Canada, Vancouver, New York and in other parts of North America. Company provides a large platform to the local retailers to connect around the world with its online shopping. Additionally,...
2 Pages(500 words)Research Paper

Innovation Research & Development And Growth

...INNOVATION RESEARCH & DEVELOPMENT AND GROWTH By and Introduction To enhance competitiveness and maintain sustainability, companies require new capabilities and new technologies. Within this era of quick complexity and innovation, it is hard for the companies to grow internally and stay competitive simultaneously considering the main objective of obtaining valuable resources. However, due to lack of proper implementation, various acquisitions failed to realize their targets which led to poor performance. Recently, there are some trends that emerged to drive innovation process to success. Contemporary consumers are more knowledgeable and have various options in terms of...
12 Pages(3000 words)Essay

Innovation and Development Process of Mobile Phones

...Summary For companies to maintain a competitive advantage over each other there is a need for them to bring about change and innovation in their products and processes. Innovation is often similar with the output of an organization’s process though researchers have placed more emphasis on the process itself as to how a creative idea can be developed into a meaningful output (Cohen & Levinthal, 1989). Because innovation is considered as a necessary process in driving the company’s profits as well as in meeting the needs of consumers, the factors that often lead to innovation are considered critical to any organization (Ettlie, Bridges & Okeefe, 1984). All...
11 Pages(2750 words)Research Paper

Exploring Corporate Strategy of Procter & Gamble

11 Pages(2750 words)Case Study
sponsored ads
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.

Let us find you another Essay on topic Innovation and Development for FREE!

Contact Us