Innovation and Productivity Grand Challenge

Lead Research Organisation: Imperial College London
Department Name: Imperial College Business School

Abstract

The UK spends around £21bn in creating new knowledge via the science system in organisations such as universities, research institutes and private companies. Evidence suggests that we do well in terms of producing scientific knowledge - for example, the UK is ranked second only to the USA in terms of citations with nearly 12 per cent of the total world share. 



But do we apply the knowledge as effectively as we create it? Does our investment translate into new products and services on which businesses can be built and grow? Does it find its way into new and improved processes which will have a positive impact on productivity? In other words, can we manage not just invention but the full spectrum of innovation?



The UK innovation-from-knowledge (IfK) system works - the question is whether it can work better. And can it do so in a world where knowledge is created on an international stage and where the challenge is one of managing flows of knowledge across complex and open networks? This research programme is exploring how an effective IfK system works in this new environment and aims to articulate and help deploy a 'best practice' model. It forms part of a 'Grand Challenge' initiative, funded by both ESRC and EPSRC and involving 5 universities and the Advanced Institute of Management Research (AIM).

Publications


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Adams R (2006) Innovation management measurement: A review in International Journal of Management Reviews
Adebanjo D (2010) Analysis of Web 2.0 enabled e-clusters: A case study in Technovation
BESSANT J (2009) DEVELOPING RADICAL SERVICE INNOVATIONS IN HEALTHCARE - THE ROLE OF DESIGN METHODS in International Journal of Innovation Management
Bessant J (2008) Special report: Competing on knowledge in Business Strategy Review
Bessant J (2008) Dealing with discontinuous innovation: the European experience in International Journal of Technology Management
Bessant J (2004) Innovation as Unusual in Business Strategy Review
Bessant J (2008) Dealing with discontinuous innovation: the European experience in International Journal of Technology Management