Executive Summary Innovation is highly important to the competitiveness and productivity levels of advanced capitalist economies. It has long been recognized that innovation is a key motor of economic change, as it stimulates intense forms of competition. New products command a premium price, and as others seek to replicate those innovations to improve their own products, those innovations diffuse widely into the economy, increasing general well-being. Innovation is partly about new products, but more importantly, …
showed first 75 words of 2648 total

showed last 75 words of 2648 total
…themselves. 7 Recommendations Despite the apparent mismatch between small and middle sized businesses, advisers are building different types of relationships with innovating firms, and using those relationships. It is important for the business to achieve the following elements: Deliver the service in the most appropriate way to the firm Give advice to firms about other services available which may be of value Exchanging experiences between firms, and helping weaker firms learn from exemplars.