International Journal of Applied Research
Vol. 2, Issue 2, Part L (2016)
Public sector policy: Policies supporting innovation in social & public sector
It is observed that policy events comprise the creation of framework circumstances, establishing organizational frameworks and developing capabilities, identifying, specifying and signaling needs, and incentivizing innovative solutions. The survey findings verify that the barriers encountered by firms communicate to the deficiencies addressed by policies but do not address them adequately. This arises from lack of reporting, lack of ownership by purchasers, crash to address the whole series of gaining and to address risk dislike. The scope of policy actions needs to be extensive in time, span of reach and depth. Public procurement is more and more seen as an important probable instrument of innovation policy. However, policy design has been underpinned mostly by subjective evidence and without a clear academic or experiential basis for considerate how supplying to the public sector actually influences a firm's innovation capabilities and presentation and in what ways attractive behaviour and outcomes can be promoted. This paper seeks to address the basis of innovation procurement policy progressively more, policymakers are paying attention on capitalist innovation as a key to unlocking higher levels of economic growth. With the economy still performance at a sub-par level and the joblessness, however, what is the role of government in nurturing innovative products, services, and business ideas? Is government, through its banking and regulatory roles, the guiding hand that leads entrepreneurs toward socially and economically beneficial innovation? Or does government best support the growth of innovation by providing a non-intrusive institutional environment within which entrepreneurs create new things? In what ways can the government foster innovation, and in what ways is government a hindrance?
How to cite this article:
Dr. Rashmi Gujrati. Public sector policy: Policies supporting innovation in social & public sector. Int J Appl Res 2016;2(2):737-743.