Innovation is now widely acknowledged to be a prerequisite for sustainable economic growth. But, while this is true of developed and developing economies alike, the tried and tested approaches do not work for all countries.
PARIS – Innovation is now widely acknowledged to be a prerequisite for sustainable economic growth. Whether the changes are profoundly disruptive, or merely provide incremental improvements in products, services, or business models, the results boost an economy’s long-run productivity. And innovation is necessary not only for developed economies, but also for emerging markets, which are receiving diminishing returns from simply transposing advanced economies’ best practices. But, while every country needs to innovate, the tried and tested approaches do not work for all markets.
PARIS – Innovation is now widely acknowledged to be a prerequisite for sustainable economic growth. Whether the changes are profoundly disruptive, or merely provide incremental improvements in products, services, or business models, the results boost an economy’s long-run productivity. And innovation is necessary not only for developed economies, but also for emerging markets, which are receiving diminishing returns from simply transposing advanced economies’ best practices. But, while every country needs to innovate, the tried and tested approaches do not work for all markets.