The role of innovation strategy in the platform of economic development

The Role of Innovation Strategy in the Platform of Economic Development
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The Role of Innovation Strategy in the Platform of Economic Development
It is necessary to note that the United States has not implemented practical and coherent innovation policies, and this has made it difficult for the country to promote its global advantage. The existing market strategies in the United States have contributed to the decline of the country’s competitive performance and have also read to deterioration of the United States manufacturing employment. Most importantly, the country has also recorded a trade deficit in advanced technology commodities (Atkinson & Ezell, 2012). The decline of the manufacturing sector and lack of innovation initiative have hindered the development of industries that may offer employment opportunities educated Americans; this is the reason why the level of unemployed is still high despite the high number of educated individuals.
There are numerous reasons why senior management should consider pursuing an innovative strategy. Ideally, innovation supports and promotes growth as well as the dynamism of economic activities through different approaches such as intensifying research and development, an...