April 20th, 2007
BusinessWeek has an interesting analysis of a two page document produced by the US Department of Commerce on a series of innovation measurements it might use to drive public economic and innovation policy.
The main thrust of the document seems to be how can the U.S.?and U.S. business?remain competitive? The Commerce department is looking for comments on this initiative as there are many nebulous concepts that they are looking for feedback on.
It was really interesting to see how they defined innovation: “The design, invention, development, and/or implementation of new or altered products, services, processes, systems, organizational structures, or business models for the purpose of creating new value for customers and financial returns for the firm.” This statement shows that they are looking beyond simpe new product development towards a more systematic view of innovation.