The paper "Business Behavior in a Changing World" is a great example of a business annotated bibliography. The paper handles the nature of science and technology and its relation to aspects of market failure which have contributed to the rationale for formulating science policy and technology policy. It distinguishes between the implications of technology policy with respect to traditional market failure and the recent shift in modern science and technology policy. The advancement of industries and the emergence of refined technology are issues that should make governments critically consider science and technology policy a crucial focus. J.
S. Metcalfe, who is affiliated to the Manchester Institute of Innovation and Research (MIoIR) and the Manchester business school the University of Manchester is among the top authors having written numerous journals and articles in the economic field adding up to over forty. This article is important in expounding the meaning and significance of scientific and technological policies and its impact on business. Overall, it is a useful article for undergraduate business students to critically study economic policy issues in the modern world as he links theory and policy issues around technology and science. Suneja, V.
(2001) Policy, Module Three, Study Guide Chapter 8 in Suneja, V. (ed) (2002) Policy Issues for Business: A Reader, London, Sage Publications Ltd. Freeman, C. (1995) ‘ The National System of Innovation in Historical Perspective’ , Cambridge Journal of Economics, vol. 19, no. 1, pp. 5-24. Freeman’ s article relates the concepts of science and technology to innovation and associates technological innovations to social innovations. He uses nations such as Germany and Japan to illustrate the concept of National Systems of Innovation, giving a comprehensive historical account of the advancement of these nations and others.
The article brings out the importance of social factors in technological innovations and the fact that the social factors are strongly influenced and affected by national system aspects, which should therefore not be ignored in the innovation process. Chris Freeman was a widely read professor who has had an extensive lecturing career. He coined the phrase national innovation system which has been employed in many regions and sectors. This article, though written long ago has been edited several times as it is included in the recent edition of the policy issues textbook.
Taken as a whole, the text is useful for undergraduate business students to critically study economic policy issues in a modern world as he links theory and policy issues with technology and innovation. Suneja, V. (2001), Policy, Module Three, Study GuideChapter 9 in Suneja, V. (ed) (2002) Policy Issues for Business: A Reader, London, Sage Publications Ltd. Porter, M. (1990) The Competitive Advantage of Nations, Harvard, Harvard Business Review. Michael Porter is an expert in the strategy field and is concerned centrally with the competitive strategy between countries and corporations.
The article majors on how nations can develop a competitive strategy and hence a competitive advantage in global industries; it describes the need for a new paradigm and the theory of national competitive advantage and its dynamics and how to deal with the implications through policy. It emphases the importance of national factors in influencing innovation, and connects this with international factors.
Clayton, C. (2002) ‘The Rules of Innovation’, Technology Review, vol.105, no. 5, pp. 32–38.
Conceição, P. (2000) Science, technology, and innovation policy: opportunities and challenges for the knowledge economy, International series on technology policy and innovation, Westport, Greenwood.
Freeman, C. (1995) ‘The National System of Innovation in Historical Perspective’, Cambridge Journal of Economics, vol. 19, no.1, pp. 5-24.
Lall, S. (1997) Trade and Industrialization, Oxford, Oxford University Press.
Metcalfe, J.S. (1997) ‘Science Policy and Technology Policy in a Competitive Economy’, International Journal of Social Economics, vol.24, no.7/8/9, pp. 723-740.
Porter, M. (1990) The Competitive Advantage of Nations, Harvard, Harvard Business Review.
Suneja, V. (ed) (2002) Policy Issues for Business: A Reader, London, Sage Publications Ltd.