Renewal has always been important for economic growth in Norway. We must act now so that Norway shall be among the world's best countries to live in,
Our economic policy contributes to good general conditions and makes it possible for industry to innovate.
the public sector constitutes an important part of the Norwegian economy. The Government wants to have a sustainable,
It is meant to encapsulate in one way or another the recognition that in a global economy,
The most successful economies of the future will be those which excel at generating and disseminating knowledge and exploiting it commercially (see Innovation into Success, UKSPA, Issue 1,
in business and the economy. Since the Green Paper on Innovation in 1995 the European commission has been furthering the development of a European policy on innovation
-Driven Economy (2004) has identified Innovation Management Techniques (IMT's) defined as the range of tools,
Innovation-scientific, technical, organisational and managerial-is the key to survival and success in the new knowledge economy.
The framework sets out the Government's ambition for UK science and innovation over the next decade, in particular their contribution to economic growth and public services,
They also wanted recommendations for economies or process improvement in technical support, help desk and staff development areas.
Volumes, production, economies? Seasonal, weather, fashion influences? Threats Political effects? Legislative effects? Environmental effects? IT developments?
Economy-home, abroad? Seasonality, weather effects?""Innosupport: Supporting Innovation in SMES"-2. 2. SWOT Analysis page 19 of 271 2. 2. 4. Tips for successful SWOT analysis Top Tips But remember 1
and sold well, to internal and external stakeholders. It's all about getting buyin. Depending on organisation size and complexity
Supporting Innovation in SMES"-6. 2. Rapid prototyping & Product Testing Strategies page 119 of 271 economists.
including both internal and external stakeholders. Data will typically be qualitative and based on observation, discussion and structured interview.
It is estimated that the annual economic value of the recycling industry will soon reach over £1 billion in Western europe.
As the amount of economic activity related to recycling will grow immensely and as political and social push will increase for all,
Known technology/capacity to produce energy with economic value. Example: Tires, rubber in hoses. Cannot be disassembled.
Supporting Innovation in SMES"-7. 2. International Regulations page 158 of 271 Economy and efficiency A cost-effective and timesaving way of applying for patent protection in several different
and contribute to the growth of the national economy through employment creation, investments and exports.
Despite the importance of SMES for the vitality of the economy and the potential offered by the IP system for enhancing SMES competitiveness,
The linkage between an organisation's overall strategy and its IP strategy will be more significant in the new economy than it was before.
In the new economy one of the preconditions for being able to compete is that an organisation can create,
models and simulations for economics and business teachers, lecturers and students. The simulations also have support materials that have been written to enhance their educational value.
Business studies, Economics, Accounting etc. http://www. engines4ed. org/hyperbook/nodes/NODE-130-pg. html Dustin sets up situations that the student will encounter in real life
It is probably the most important development in business and communication in the history of the global economy.
As a result, the company will have quadrupled its shareholder value in only five years. Example of characteristic 4:
Gmbh (Polytechnic) Campus 02 Fachhochschule Studiengänge der Wirtschaft (Courses for Economy in Campus 02 Polytechnic)" Innosupport:
Nowadays, in a globalised economy, foreign language and intercultural competencies have become decisive factors. Products, services and information are moving fast between continents
Economically and with the integration of the European union large companies as well as small firms operating in a knowledge based economy have to rely increasingly on the interrogation of nondomestic sources of information and knowledge bases,
and development opportunities of developing economies and to assist their efforts to integrate into the world economy The World Economic Forum (WEF) www. weforum. org is a private not-for-profit foundation that operates conferences for business, political
(ICT) have enhanced greatly the competition spurred by the globalization of the world economies. Even small and medium-sized enterprises (SMES) are no more immune to the challenges that the globalization brings about.
and in certain instances worrisome, situation since SMES play a key-role in most economies,
22 5. 2 Cost Explosion in Booming Economies...22 5. 3 Protection of Intellectual Property rights...
R. Tiwari and S. Buse (October 2007) Page 4 of 31 1-Introduction Technological advancements, especially in Information and Communication Technologies (ICT) have enhanced greatly the competition spurred by the globalization of the world economies.
and in certain instances worrisome, situation since SMES play a key-role in most economies,
Innovative ideas and products are becoming increasingly important to counter the priceoriented competition from low-cost producers from emerging economies
while elaborating the crucial role that SMES play in the economy. 2. 1 Innovation Innovation,
small and medium-sized enterprises, may be understood as any entity engaged in economic activity, irrespective of its legal form (EC, 2003a).
even though SMES play an important role in the national economy as discussed in the following.
2 These data exemplarily demonstrate the key-role which SMES play in Germany's economy.
For detailed discussions on SMES'role in the German economy see Hamer (1997), Bundestag (2002), Günterberg and Kayser (2004),
and find themselves faced with tough price-oriented competition from low-cost producers from emerging economies in Asia
Moreover, blocking foreign firms from doing business in the country may lead to trade retaliations abroad that could severally affect an export-oriented economy like that of Germany.
and Hamburg Institute of International Economics (HWWA, 2004). Comparing the findings of the aforementioned surveys it would not be an unreasonable assumption that SMES in the respective countries
and other developed economies we conducted a new set of investigation. The methodology and selected results of this study are explained in the following. 3. 2 Findings of the Survey RIS-Hamburg To identify barriers to innovation in SMES in the Metropolitan Region of Hamburg we at first conducted an empirical study in form
the survey targeted mainly SMES from the fields of IT, Media, Civil Aviation, Electronics, Machinery Manufacturing, Maritime Economy, Medical Equipments, Logistics,
The study carried out by Cologne-based Institut der deutschen Wirtschaft (Idw) on behalf of Germany's Federal Ministry of Economics
emerging economies in Asia are rapidly taking over the role of lead markets by their openness for consumption
or they may cause high opportunity costs in the form of lost business opportunities (in case of prohibition).
More and more people in emerging economies are having financial resources to buy high-end products (EIU, 2004), and the number of the middle class consumers is growing rapidly in emerging countries particularly China and India.
2007). 5-Challenges of Global Innovation The section above has given us a broad overview over how global innovation may be used as a chance to mitigate the effects of innovation barriers prevalent in Germany and inter alia in advanced economies.
%The shortage of qualified personnel is also felt in the booming economy of China, where German firms are finding it increasingly difficult to recruit local technicians,
2006). 5. 2 Cost Explosion in Booming Economies The cost advantage of many emerging nations with booming economies is disappearing in many respects, for instance,
In this respect the internationalization of R&d seems to be a useful instrument to mitigate the effects of barriers to innovation often faced by SMES in Germany, the EU or anywhere else in industrialized economies.
The globalisation of research and development, Economist Intelligence unit. Ernst, D. 2006: Innovation Offshoring: Asia's Emerging Role in Global Innovation Network, East-West Center Special reports, No. 10/2006.
Die Position Norddeutschlands im internationalen Innovationswettbewerb, Hamburg Institute of International Economics, Hamburg. Idw (2004: Mittelstand in Deutschland Stiefkind der Wirtschaftspolitik, Institut der deutschen Wirtschaft, Cologne:
thus a critical factor for individual firms'success as well as for improved national performance in today's global economy. 2. Innovation is a broad term that encompasses virtually any new development in firms.
creating a more dynamic economy and greater employment opportunities. In fact, the national climate for private sector innovation has an impact on businesses of all sizes,
but also more generally for providing a competitive foundation for national economies. Because they often lack the resources to engage in in-house training,
Malaysia is one of the fastest growing economies of the world and is based largely on SMES that contribute almost 33 percent to the national GDP.
The importance of SMES growth and their sustainability cannot be overemphasized for Malaysian economic growth and development especially in this competitive global environment.
researchers question the role of innovation in maintaining the growth of the Malaysian economy and the role of innovation in the overall performance of the SMES.
in Engineering and Economics ISBN: 978-1-61804-230-9 145 management system. Similarly, Orlikowski (2010), Tsoukas et al (2002) and Wierdsma (2004) stated that innovation is the process of development of new outcome by adopting new ways of working and product development.
The Mathematical Methods in Engineering and Economics ISBN: 978-1-61804-230-9 146 result is presented in Table 1. Table 1 Significance of Innovation for Growth of Firm in opinion of Managers To replace products To improve product To extend product
Mathematical Methods in Engineering and Economics ISBN: 978-1-61804-230-9 147 3 Kanter, R. M. 2006.
Evidence on the role of public policy, ETLA Discussion Papers, The Research Institute of the Finnish Economy (ETLA), No. 820 27 Salim,
Mathematical Methods in Engineering and Economics ISBN: 978-1-61804-230-9 148 32 Clausen, T. H.,Korneliussen, T,
Mathematical Methods in Engineering and Economics ISBN: 978-1-61804-230-9 149
Published on Horizon 2020 (http://ec. europa. eu/programmes/horizon2020) Innovation in SMES Horizon 2020 actively supports SMES by providing both direct financial support,
'29 3-Capturing innovation impulses from emerging economies...30 4-Capabilities for Design-Driven Innovation in European SMES...
35 HORIZON 2020 WORK PROGRAMME 2014-2015 Innovation in SMES PART 7-Page 4 of 37 Introduction Exiting the economic crisis
innovative companies create the majority of new jobs in the European economy. A strong rationale exists for public support to SMES'innovation activities
and underpin future economic growth, jobs, and progress towards a resource-efficient economy. Further leverage and complement support for innovation in SMES and other funding,
which may be provided by national or regional authorities (including under the European Structural and Investment funds) and/or by private investors (upfront or as follow-up investments).
and bring together already a critical mass of enterprises and innovation stakeholders. Establishing such platforms will not be supported.
and implementation of evidence base for R&i policies and supporting various groups of stakeholders is excluded from the delegation to EASME
and strategic focus promises significant impact on economic growth and job creation, and has the potential to act as a catalyst by contributing to and/or leveraging other activities supported,
Germany 3-Capturing innovation impulses from emerging economies During the next decades growth of the world economy will be concentrated in emerging economies with a small
and service innovation activities towards the needs of clients in emerging economies and identify new business opportunities for such product even in mature markets.
but are limited not to, case studies (in print, audio or video) for awareness and analysis, methodological guides to capture consumer preferences in emerging economies, guides to cooperation with local science, technology and innovation agents,
and trends in Europe as well as enhance learning across the EU, Associated Countries and between the relevant stakeholders (National authorities and support services).
To capture the growth opportunities notably in developing countries and emerging economies enterprises innovate specifically for these markets building on local expertise and inventiveness.
It shall bring together all relevant stakeholders to discuss how SMES can benefit from the dynamics
The Group has been set up to provide stakeholder input on the overall Horizon 2020 scientific and technological strategy, with respect to maximising the SME relevance and impact of the various work programmes and activities.
and implementation of evidence base for R&i policies and supporting various groups of stakeholders is excluded from the delegation to EASME
and implementation of evidence base for R&i policies and supporting various groups of stakeholders is excluded from the delegation to EASME
AND INNOVATIVE SMES IN A GLOBAL ECONOMY TOWARDS A MORE RESPONSIBLE AND INCLUSIVE GLOBALISATION EXECUTIVE SUMMARY OF THE BACKGROUND REPORTS Second OECD Conference of Ministers responsible for Small and Medium-sized Enterprises (SMES
) Promoting Entrepreneurship and Innovative SMES in a Global economy Towards a More Responsible and Inclusive Globalisation Executive Summary of the Background Reports Istanbul,
to achieve the highest sustainable economic growth and employment and a rising standard of living in member countries,
and thus to contribute to the development of the world economy; to contribute to sound economic expansion in member as well as nonmember countries in the process of economic development;
PROMOTING ENTREPRENEURSHIP AND INNOVATIVE SMES IN A GLOBAL ECONOMY OECD 2004 3 Table of contents Preface...5 Introduction...
17 SMES in the Global economy...25 Enhancing the Role of SMES for Development...32 Evaluation of SME Policies and Programmes...
AND INNOVATIVE SMES IN A GLOBAL ECONOMY OECD 2004 5 Preface At the first OECD Conference for Ministers Responsible for SMES, hosted by the Italian government in Bologna, Italy, in June 2000,
Ministers from nearly 50 member and nonmember economies adopted the Bologna Charter for SME Policies.
and nonmember economies and that it would be followed up by a continuous monitoring of progress with the implementation of the Bologna Charter.
The wide variation in stages of economic development, institutional arrangements and political context across the economies participating in the Bologna process, now more than 80,
The messages and recommendations outlined below provide material from which governments may choose to draw in promoting innovative SMES in the global economy.
PROMOTING ENTREPRENEURSHIP AND INNOVATIVE SMES IN A GLOBAL ECONOMY OECD 2004 7 Introduction Ministers have the opportunity to assess priorities for SME policies The second OECD Conference for Ministers Responsible for SMES brings together 30 OECD countries
and more than 50 nonmember economies at Ministerial level to exchange views on Promoting Entrepreneurship and Innovative SMES in a Global economy.
Some of the issues relate to policies that affect the whole economy and hence the general business environment in which SMES must operate.
and ways to encourage 1. This work is an important part of the follow-up to the OECD Growth Project (The New Economy:
Beyond the Hype, OECD, Paris, 2001) which underlines the need for micro-policy reforms to enhance innovation and productivity in knowledge-based economies.
PROMOTING ENTREPRENEURSHIP AND INNOVATIVE SMES IN A GLOBAL ECONOMY 8 OECD 2004 SMES, especially in developing economies,
SMES in the global economy. Enhancing the role of SMES for development. The final two sections summarise work relating to two sets of issues
The creation of new businesses and the contraction or exit of less productive firms are key elements in the dynamism of modern economies.
AND INNOVATIVE SMES IN A GLOBAL ECONOMY OECD 2004 9 innovative firms once they establish themselves.
or products and contribute to productivity improvements in the economy as a whole. While in the short term cost reductions and increased competitive pressure can lead to job shakeouts,
In the longer term, the resulting productivity increases are the basis for higher economic growth and rising living standards. and provide social benefits.
Many of these affect the economy as a whole but impinge importantly on potential entrepreneurs and SMES.
AND INNOVATIVE SMES IN A GLOBAL ECONOMY 10 OECD 2004 way these structural policies affect enterprise creation and small businesses should be taken into account in their formulation stages.
which the World bank finds is generally more flexible in advanced countries than in developing economies, limits management flexibility and leads to smaller firm size and less research and development as well as less investment in technology.
PROMOTING ENTREPRENEURSHIP AND INNOVATIVE SMES IN A GLOBAL ECONOMY OECD 2004 11 instruments for encouraging entrepreneurial behaviour in societies,
AND INNOVATIVE SMES IN A GLOBAL ECONOMY 12 OECD 2004 of these programmes and policies are designed
Policy design in areas such as competition, the regulatory framework, the tax system, labour markets, financial markets and bankruptcy laws should take account of the way these areas impinge on SMES and innovation in knowledge-based economies.
PROMOTING ENTREPRENEURSHIP AND INNOVATIVE SMES IN A GLOBAL ECONOMY OECD 2004 13 and based on evidence to the degree that this is possible.
Indeed, self employment represents one of the most important job options for women, especially for women in developing economies.
and their prospects for success. PROMOTING ENTREPRENEURSHIP AND INNOVATIVE SMES IN A GLOBAL ECONOMY 14 OECD 2004 Figure 1. Female employers and own-account workers Percentage of total employers and own
Canadaindonesia Japan Korea Mexiconew Zealandphilippinesunited States Selected APEC economies, 1998 PROMOTING ENTREPRENEURSHIP AND INNOVATIVE SMES IN A GLOBAL ECONOMY OECD 2004 15 The empirical basis for informed policy design needs to be improved Reliable data
and analysis relating to women's entrepreneurship are scarce and provide little empirical basis for policy design.
and entrepreneurial activities more PROMOTING ENTREPRENEURSHIP AND INNOVATIVE SMES IN A GLOBAL ECONOMY 16 OECD 2004 specifically.
Such policies are part of the wider package of economic and social arrangements in any economy
Economies in transition and the Nordic countries, for example, have some of the best provisions for working women
Networks should be encouraged both within economies and internationally to support the diffusion of knowledge and experience within the private sector to facilitate entrepreneurial endeavours by women.
PROMOTING ENTREPRENEURSHIP AND INNOVATIVE SMES IN A GLOBAL ECONOMY OECD 2004 17 Tools for SME Innovation Financing for innovative SMES Access to risk capital is a major obstacle to SME expansion.
Co-operation and partnerships between national and international networks can facilitate entrepreneurial endeavours by women in a global economy.
Improve the factual and analytical underpinnings of our understanding of the role of women entrepreneurs in the economy.
PROMOTING ENTREPRENEURSHIP AND INNOVATIVE SMES IN A GLOBAL ECONOMY 18 OECD 2004 capital. First, the returns to innovative activities are highly uncertain and often skewed.
AND INNOVATIVE SMES IN A GLOBAL ECONOMY OECD 2004 19 accessing finance are most acute (Figure 2). It should also be managed by the private sector
AND INNOVATIVE SMES IN A GLOBAL ECONOMY 20 OECD 2004 Basle II agreement on innovative SMES and on SMES in general in developing countries should be the object of further research
PROMOTING ENTREPRENEURSHIP AND INNOVATIVE SMES IN A GLOBAL ECONOMY OECD 2004 21 Recognition and measurement of intangible assets should be improved.
PROMOTING ENTREPRENEURSHIP AND INNOVATIVE SMES IN A GLOBAL ECONOMY 22 OECD 2004 and geographically concentrated clusters of innovative firms are another.
US GU 12.9 14.4 16.0 15.8 21.9 19.1 PROMOTING ENTREPRENEURSHIP AND INNOVATIVE SMES IN A GLOBAL ECONOMY OECD 2004 23 development, the regional attractors of knowledgeintensive foreign direct investment,
PROMOTING ENTREPRENEURSHIP AND INNOVATIVE SMES IN A GLOBAL ECONOMY 24 OECD 2004 Key policy recommendations Improve SMES access to information about networking opportunities.
This will require co-operation among all stakeholders including SME associations, public agencies and intermediary organisations to correct deficiencies in existing sources of information.
PROMOTING ENTREPRENEURSHIP AND INNOVATIVE SMES IN A GLOBAL ECONOMY OECD 2004 25 SMES in the Global economy Facilitating SMES'access to global markets Globalisation offers SMES opportunities The globalisation of business has drawn increasingly SMES
the broad picture for many OECD and some nonmember economies is that of a low,
A study conducted for Asia-Pacific Economic Cooperation (APEC) economies suggests that SMES account for less than 30%of total exports in the region. 3 3. C. Hall, Profile of SMES and SME Issues
PROMOTING ENTREPRENEURSHIP AND INNOVATIVE SMES IN A GLOBAL ECONOMY 26 OECD 2004 In Europe exporting activity rises with firm size.
PROMOTING ENTREPRENEURSHIP AND INNOVATIVE SMES IN A GLOBAL ECONOMY OECD 2004 27 across borders. This applies especially to access to information as regards tax
PROMOTING ENTREPRENEURSHIP AND INNOVATIVE SMES IN A GLOBAL ECONOMY 28 OECD 2004 business-to-business interaction and real-time communication can reduce information asymmetries between buyers and sellers and build closer relationships among trading partners.
AND INNOVATIVE SMES IN A GLOBAL ECONOMY OECD 2004 29 technologies to encourage interoperability and innovation and to expand choice.
AND INNOVATIVE SMES IN A GLOBAL ECONOMY 30 OECD 2004 and digital content, including increased use of e-government services,
Strengthened crossborder co-operation among all stakeholders is necessary to reach these goals. Of particular relevance for small firms are low-cost on-line dispute resolution mechanisms among firms
PROMOTING ENTREPRENEURSHIP AND INNOVATIVE SMES IN A GLOBAL ECONOMY OECD 2004 31 Key policy recommendations Move beyond policies for basic connectivity
Strengthen cross-border cooperation between stakeholders and the development of rules with cross-border application.
PROMOTING ENTREPRENEURSHIP AND INNOVATIVE SMES IN A GLOBAL ECONOMY 32 OECD 2004 Enhancing the Role of SMES for Development Transition
and developing economies need to strengthen their capacity to take advantage of trade and investment opportunities.
which countries grow is their ability to integrate with the global economy through trade and investment.
Enterprises in transition and developing economies face major challenges in strengthening their human and institutional capacities to take advantage of opportunities in these areas.
Therefore, supply-side bottlenecks in the trade and investment areas and the way in which governments, development partners and the private sector itself address these constraints have direct implications for the economic growth potential of transition and developing countries.
In the poorest countries they nevertheless make up a relatively small part of the economy, contributing less to employment
SME development strategy must be integrated into the broader national PROMOTING ENTREPRENEURSHIP AND INNOVATIVE SMES IN A GLOBAL ECONOMY OECD 2004 33 development and poverty reduction strategy of transition and developing countries.
Dialogue and partnerships between the stakeholders (public sector, private sector and civil society) foster ownership of these strategies, make them easier to implement (by better addressing SME needs),
Continued dialogue and partnerships between stakeholders about implementation and review of supportive measures, particularly, those related to capacity building in private sector service providers, yields improved outcomes.
AND INNOVATIVE SMES IN A GLOBAL ECONOMY 34 OECD 2004 Trade and investment capacities of SMES must be strengthened.
but which involves participation by all key stakeholders. The overall objective should be to increase the volume and value of exports and the number of exporting companies.
The potential benefits of foreign direct investment to host economies include sources of external capital
AND INNOVATIVE SMES IN A GLOBAL ECONOMY OECD 2004 35 competitors who set new standards and necessitate greater efficiency,
PROMOTING ENTREPRENEURSHIP AND INNOVATIVE SMES IN A GLOBAL ECONOMY 36 OECD 2004 Governments in advanced economies should promote policy coherence and greater effectiveness of development assistance.
Development partners need to recognize that better attention to local conditions is necessary for trade and investment capacity building in transition and developing economies.
PROMOTING ENTREPRENEURSHIP AND INNOVATIVE SMES IN A GLOBAL ECONOMY OECD 2004 37 Evaluation of SME Policies
AND INNOVATIVE SMES IN A GLOBAL ECONOMY 38 OECD 2004 SME policy makers should develop an evaluation culture.
AND INNOVATIVE SMES IN A GLOBAL ECONOMY OECD 2004 39 delivering the programme. Their detailed knowledge of the programme will be less, however
PROMOTING ENTREPRENEURSHIP AND INNOVATIVE SMES IN A GLOBAL ECONOMY 40 OECD 2004 Towards More Systematic Statistical Measurement of SME Behaviour The empirical basis for SME policy formulation is poor.
PROMOTING ENTREPRENEURSHIP AND INNOVATIVE SMES IN A GLOBAL ECONOMY OECD 2004 41 Available high-quality empirical analysis, notably crosscountry comparative studies and longitudinal studies
Nonmember economies should be involved in this work where possible. Develop an integrated business statistical register. This requires that countries introduce a single identification number for enterprises,
PROMOTING ENTREPRENEURSHIP AND INNOVATIVE SMES IN A GLOBAL ECONOMY 42 OECD 2004 It is desirable to contain costs at statistical agencies
Bronwyn H. Hall Dept. of Economics 549 Evans Hall UC Berkeley Berkeley, CA 94720-3880 and NBER bhhall@nber. org Francesca Lotti
In a comparative analysis, Hall and Oriani (2006) find high marginal stock market values for Italian R&d investment in large firms that do not have a majority shareholder
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