Fagerberg pointed out that innovation is helpful for low- income countries to catch up high income countries.
“ variables related to the development of the broader “innovation” system, such as educational efforts, the research infrastructure and innovative activity, are indeed important for whether a low-income country manages to exploit the potential for catch up or – alternatively – falls behind. “ (Fagerberg & B., 2003, p. 10)
Moreover, Fagerberg, Nelson and Phelps ( 1966) claimed that the reason behind the growth difference of countries is innovation and diffusion of technology. Diffusion of knowledge provides countries to increase knowledge and enables to use technologies although inventions took place in other parts of the world.
The research of Freeman and Soete specified the importance of science, technology and innovation (STI) and diffusion of knowledge. The empirical analysis in the paper of Freeman and Soete illustrated the link between diffusion of knowledge and development.
“STI indicators today play, in interaction with these shifts in global demand, a crucial role in national policy debates about science, technology and innovation. Many economists now believe that the largest part of world-wide growth and development over the last 10 years has been associated with an acceleration in the diffusi...
... middle of paper ...
...and to use acquired technologies from abroad. However, high- tech strategy can generate new technologies and provide high level of investment in research and development departments. In the context of sensitivity of these development strategies towards politic uncertainties differ from each other as that low- tech strategy is more durable to both calculable and incalculable risks. Because low- tech firms have limited involvement in international trade and limited relation with government activities. However, medium- tech strategy and high- strategy are more sensitive to calculable and incalculable risks due to the fact that both strategies involve in international trade and have strong relationship with government. Additionally, infrastructure, education and judiciary system are necessity of these two strategy which make more fragile to changes in political sphere.
Need Writing Help?
Get feedback on grammar, clarity, concision and logic instantly.Check your paper »
- Technology Mudslide Hypothesis : This term was first introduced by Clayton M. Christensen in 1995, to discuss the phenomenon that emerges and might result in large firm’s failure as the result of technological innovations. Two concepts of disruptive and sustaining innovation was developed to explain two main categories of innovation. Sustaining technology or innovation refers to an innovation that does not create a new market or value and only improves the existing technology allowing the firms to compete against each other’s sustaining innovations.... [tags: Disruptive technology, Innovation, Marketing]
1493 words (4.3 pages)
- Innovation and Technology for Pakistan The word Innovation can have many meanings, depending on how and where you use it. But many people tend to confuse Innovation with other words such as Invention. Now Invention is more of a thought that comes to your mind, something like an idea that might have not occurred to anyone before. Innovation, on the other hand, is the process that brings the idea in your head out into motion and creates the Invention. Innovation is the actual difference, the substantial change that you bring to the world by transforming simple thoughts into revolutionary break-through developments.... [tags: Pakistan Technology Business Innovation]
1185 words (3.4 pages)
- Innovation is the process whereby organizations use their skills and resources to develop new goods and services or to develop new production and operation systems so that they can better respond to the needs of their customers (Jones et. al., 2006). Innovation and technology are vital to providing a wider, more sustainable mix of energy resources for the world’s growing population. Thousands of Shell scientists, researchers and engineers around the globe are working to develop tomorrow’s groundbreaking solutions, collaborating with experts and specialists beyond our industry (Innovation through R&D, Shell Global, 2016).... [tags: Innovation, New product development]
1228 words (3.5 pages)
- As society grows and evolves, technological advancements and innovations continue to develop and consistently change different aspects of our society. For an organization, understanding how to manage these innovations is essential for their proper utilization and implementation. With technological advancements and innovations constantly emerging, it is important for an organization to stay aware of which new technological innovations can help them be successful. Organizations are always looking to set themselves apart from competition through innovation.... [tags: Innovation, Technology, Management]
766 words (2.2 pages)
- Focus Questions: What are the key types of innovation. What types of innovation did Geox create. Geox’s rubber sole technology was developed after Mario Moretti, who suffered from hot and sweaty feet, took a pocketknife and stabbed the underside of his shoe. By doing so, his shoes were able to breathe and relieved the sticky feeling of perspiration. It was from this experience that Geox’s CEO began to innovate and develop the technology to address this common problem with no available solution.... [tags: Innovation, Technology, Research and development]
1124 words (3.2 pages)
- Technological innovation as a process When innovation is studied as a process, there may be several definitions. Davenport (2013) see innovation as “the process in which from an idea, invention, or recognition of a need develops a product, technique or useful service to be commercially accepted “. In this definition, success of an innovation is broadly linked with the concept of social utility, and less with the commercial acceptance. Linear model of innovation defines innovation as a process that begins with basic research and then passes from applied research.... [tags: Innovation, Technology, Research, Creativity]
715 words (2 pages)
- Introduction According to Steven (2010), ideas are a connection of networks. These networks are created in the most unconventional places such as coffee shops and conference rooms. Most good ideas happen when people congregate together and share their interests, their mistakes. A lot of important ideas take time to come to fruition. This is because resources may be limited, not enough interest is generated. This paper is discuss the different sources of innovation, the trends and forecasts that can affect the healthcare industry and the role that disruptive innovation plays in the healthcare industry.... [tags: Innovation, Technology, Disruptive technology]
1088 words (3.1 pages)
- Section 01- Innovation Management 1. The concept of innovation Innovation is a process of creating something new good or service which can be commercialized in the market. This must be satisfied a specific need of a customer at an economical cost. The innovation focus on two main types. They are product innovation and process innovation. The product innovation is introducing something new to the market that can enhance the quality and the range of a product that use by consumers as well as organizations.... [tags: Innovation, Technology, Value chain, Marketing]
2095 words (6 pages)
- Chukwuma Azubuine 64.650 Innovation and Emerging Technology Steven Tello Innocentive - Full Case Analysis 1. INTRODUCTION It is fair to say that the idea of an "innovation marketplace" was brought to fruition by Alpheus Bingham and Aaron Schacht, founders of the website Innocentive.com in 2000. The website served as a platform for connecting two groups of people, called "seekers" and "solvers". Seekers refer to companies, non-profit organizations or government agencies that require solutions to specific problem/challenges related to the daily operations of the organization while solvers are independent individuals with internet access from any part of the world.... [tags: Intellectual property, Copyright]
2462 words (7 pages)
- According to these definitions can be found that the term “new” is the basis for innovation .However the term “New” concept was the basis perspective (Roger, 2003 & Walker, 2006) other social changes should be consider in innovation not only scientific discovery (Dakhli &De clercq, 2004).There are various criteria for classifying innovation ,product and process innovation ( Oslo Manual 2005,Sundbo et al 2007 ) and incremental and radical innovation (Bacanu 2009).Innovation is the continuous process by attempting all internal resources to provide appropriate activities which lead to change.... [tags: Innovation, Technology, Economics, Creativity]
872 words (2.5 pages)