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c.
d.
DEFINITIONAL
Innovation....
Value creation in the market from New or Improved products, processes, methodologies, business models, or services
Schumpeter 1934
Clarke 2012
Competitiveness Improvement
Productivity Growth
Innovative Capacity
Begins with research and development
On the recent 2011 Global Innovation Index Jamaica was ranked 92nd out of 125 countries (INSEAD, 2011 ).
Umemoto 2006
The model of the last 2 eras (agricultural and industrial ) indicated that Land, Labour (low-cost) and Capital (LLC) were the key factors of economic production Knowledge has become the main resource
The global pace of innovation is accelerating (not only in products and services, but also in processes, markets, sourcing, business models, etc.) Umemoto 2006
RESOURCE-BASED ECONOMIES
EFFICIENCY-BASED ECONOMIES
INNOVATION ECONOMIES
Countries compete based on their factor endowments: primarily unskilled labour and natural resources. Compete on the basis of price and sell basic products or commodities, with their low productivity reflected in low wages.
Countries begin to develop more efficient production processes and increase product quality. Competitiveness is increasingly driven by higher education and training. Wages have risen and they cannot increase prices
Companies must compete by producing new and different goods using the most sophisticated production processes and through innovation. Wages will have risen by so much that they are only able to sustain those higher wages and the associated standard of living by higher value production
Innovating Firms
Efficiency Factors
C. Sustainable Competitive Advantage How can businesses create wealth and prosperity?
Through Knowledge, Innovation and Creativity (KIC) The Resource Based View (RBV) identifies the combination of Valuable, Rare, NonInimitable and Organisation (VRIO) resources and capabilities as the source of firm modern competition (Wernerfelt 1984, Barney 1991) Valuable resources and capabilities .only gives competitive parity Valuable and Rare resources and capabilities .. only gives temporary competitive advantage
Dynamic Organisational Capabilities flows from a grounding in Knowledge, Innovation and Creativity (Teece et al 1997, Grant 1996, Eisenhardt and Martin 2000)
Knowledge resources are identified as being at the heart of the advantages under the Resource Based View (Conner and Prahalad, 1996) and in building national intellectual capital for global competitiveness (Stahle and Bounfour, 2008)
NO
YES
Indigenous Innovations
YES
Competitive parity
We have to start investing our time and energies into creating, enhancing, preserving our own KIC factor for maximal global economic leverage
Caribbean has to build its own capacity for creating indigenous innovations. The Englishspeaking Caribbean continues to be the only regional block of the world that is yet to develop a software exporting capability; (Duggan, 2008 citing Erran Carmel) That is where our unique and special VRIO resources and capabilities lie
EMPLOYEE CREATIVITY
Firm Innovation starts with individual employee creativity; creative thinking, fact finding and creative performance.
Firm Leadership which builds Supportive Work Contexts facilitate Intrinsic Motivation which nurtures Employee Creativity
Create Options
Evaluate Options
No Judgment No Logic
Basadur 2012
60 mobile application proposals submitted with over half adjudged as being of value to market
F.
Governments, Businesses and Academia tend to look at the challenge of firm productivity and national competitiveness from very different perspectives. These differing viewpoints may partially explain why the regional innovation outcomes have been underwhelming for decades The perspective portrayed by the Doing Business Survey is a reflection of the Business Sector and so is understandably not critical of business practices, leadership, management practices, or entrepreneurial orientation. Business owners and TMTs tend to be severely critical of governmental policy-makers in discourses on business challenges.
Source
GCR/DB GCR/DB
Business
X X
Policy
Academia
GCR
GCR
X
X X X X X X X X X X X
JCS/WITSA Elliott
Elliott
The first dimension of the triple helix model is internal transformation in each of the helices, such as the development of lateral ties among companies through strategic alliances (clustering) or an assumption of an economic development mission by universities or by the building of synergistic lateral ties amongst government research institutes and labs
TRIPLE HELIX
The second dimension is the symbiotic influence of one helix upon another, for example, when the rules of the game for the disposition of intellectual property produced from government sponsored research were changed in the USA, technology transfer activities spread to a much broader range of universities, resulting in the emergence of an academic technology transfer profession and in facilitation for the capitalisation of knowledge spillovers through commercialisation or where recipients of government-sponsored innovation and competitiveness awards are encouraged to share insights and strategies and also to mentor other firms The third dimension is the creation of a new overlay of trilateral networks, frameworks, organizations and institutions from the interaction among the three helices, formed for the purpose of coming up with new ideas and formats for high-tech knowledge-based development. These trilateral networks operate at both the macro strategic level as well as the micro operational level ( adapted from Etzkowitz 2002)
Expand / Enhance the human talent pool by infusing creative thinking, creative problem finding and solving within schools, universities, business firms and the government
Adopt Triple Helix Approach as broad model for building tripartite consensus and providing a structure, process and culture for operationalising a sustained shift in national and regional innovation outcomes
THANK YOU !