Innovation and Strategy in the Government System

Policy and Governance
Name:
Institution:
Policy and Governance
Factors that feature largely in Governments efforts to design and execute innovative strategy
One of the major factors that governments consider whenever they want to design or execute an innovative strategy is the strategies' value. If the intended innovations do not add value to the already existing strategy, then there is no need to design or execute it (UNECE, 2017). Various factors can determine the strategy's value here, key among them being the competitive advantage of the country in the global market. The other factor that governments do consider in designing innovative strategies is the adaptability factor. Considering that the environment for innovation and the innovation itself keeps evolving, the strategy's adaptability is another factor that governments look at to design and execute innovative strategies. Finally, governments also consider the cost factor of implementing the policy tools that might result from the innovation strategy's execution. For instance, to promote and encourage more innovation, the government can offer policies such as spending on research and developments as providing tax breaks for organizations depending on the amount of research and developments they are involved in.
Policy Tools for public sectors in swaying innovation stakeholders in new directions
Difficulty in stimulating innovation in the public sector does not necessarily mean that there are not innovative opportunities in the public sector. Instead, it is the public sector environment that does not recognize and support exploiting the available innovative opportunities (UNECE, 2017). Some of the policy tools that can help the innovation stakeholders in public institutions to exploit the opportunities include; establishing environments that encourage...