Policy
Policy creates a direction and objective to solidify the efforts of a
project, a company or even a country. For innovations to be profitable and
successful, guidelines on research and development spending must be
established. Policy, or strategic planning, promotes innovations by
balancing scientific research with commercialization of new products or
processes.
The process of innovation in the Canadian government, for example,
requires the cooperation of numerous diverse organizations. This
cooperation is only possible through policy. Policy has established
Canada's "Innovation
Strategy" to restructure the country's economy and
emphasize the advanced technology sector. The Canadian government's
strategic direction for the economy unifies the efforts of many diverse
sectors by providing incentives for companies and individuals involved in
advanced technology.
Federal, provincial and private-sector policy on
innovation, as you will discover in this section, is the foundation for
change, encouraging cooperation by establishing a common goal that will
benefit everyone involved.
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