Canada in Context- Innovative Strategy. Economics Essay

Canada in Context- Innovative Strategy
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In examining the arch of the development of Canada’s innovation strategy and programming, what are some of the factors that are determining (for better or worse) the pace and mode by which the country will realize a resulting advancement in its prosperity?
ISSUE: The issue is identifying and evaluating factors that determine the pace and mode of Canada’s advancement in its prosperity and success of the innovation strategy and programming.
RECOMMENDATION(s): That the government supports business innovation by promoting research, funding innovation and promoting sustainable development.
At the federal level, encourage investments in companies involved in projects and activities in research, innovation and technological development by granting financial support and stimuli.
RATIONALE: The government supports and promotes innovation by adopting policies that make it easier to innovate, but there is a need to recognize and reward the innovators. Research on innovation, including in information and communications technology, will influence whether the nation will become more innovative in the fourth industrial revolution (Nicholson, 2018). The chances of success in innovation increase when there are the appropriate incentives to innovate, the right policies that support innovation and reducing the barriers to innovation (Atkinson & Ezell, 2012).
BACKGROUND: The Canadian government seeks to promote and sustain economic prosperity through innovations, but innovation strategies have not always been successful (Nicholson, 2018). Business innovation is the most visible sign that there is increased development to support innovation. This extends to encouraging and promoting the growth and competitiveness ...