Innovation: Transforming The Way Business Creates

Innovation—the application of knowledge in a novel way, primarily for economic benefit—is becoming increasingly important for companies and governments. Business executives regard it as a vital weapon in fending off their corporate competitors. Government policymak­ers see the need for an innovative environment if their countries’ economies are to grow.

But how important is innovation, which countries innovate better than others, and why? To find out, the Economist Intelligence Unit undertook two parallel research studies in a programme sponsored by Cisco. The first was a worldwide survey of 485 senior executives to gauge a better understanding of the drivers of innovation and their relative impor­tance. The second was a ranking of 82 of the world’s economies by innovation performance during 2002-06, with a forecast for the countries to 2011.

Read about the findings here –


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