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In order to be competitive in the global economy, it is critical for organisations, industries and countries to innovate. Firms need to be aware of, and be able to respond quickly to the needs of their customers, and they should be able to use technological, social and other changes to their advantage. 1 Innovation is invariably identified as the key driver of long-term economic growth, competitiveness and a better quality of life. The importance attached to innovation is evident in the Innovation Strategy of the Organisation for Economic Co-operation and Development, 2 the focus of the European Commission on Innovation and the 'Innovation Union' 3 and South Africa's own 10-year plan 'Innovation towards a knowledge-based economy'.
Moses et al. (Mon,) studied this question.
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