n Management Today - How innovative are South African firms?




Extracted from text ... I How innovative are South African firms? 38 Management Today April 2006 It has been widely acknowledged that innovation is of great importance for economic growth and job creation. As early as in the 1950s, Nobel Prize winning economist, Robert Solow, showed that only half of economic growth can be accounted for by increases in capital and labour growth. He attributed the other half - now called the 'Solow residual' - to technological innovation. Today academics and the popular business press tell us that we are living in a new age with a new economy. In this new economy, ..


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