Consider the following statement by Tapscott and Williams: "...we must encourage innovation without eroding the vitality of the scientific and cultural commons. We need an incentive system that rewards inventors and knowledge producers and encourages dissemination of their output." What approaches might be taken to change the current model of innovation to allow both to happen?
Please find help and some guidelines for writing Incentive System below. The content below has been written to get you started on this assignment. This has been written to help you with this particular problem and its use is limited as such. The content of the solution must not therefore be passed on as your own work for grading or commercial purposes. You can also use the listed resources to explore your topic further.
The design of an effective incentive system that rewards and motivates inventors and knowledge producers as well as encourages them to innovate and give results is a major issue with current innovation model and economists over the years. In present scenario, it has become even more important issue due to the advancement of internet technology and other information system. There are some incentive systems that can help to connect with inventors and encourage inventive and knowledge creation behavior in the inventors (Viale, 2010). The detail description of an incentive system with respect to rewards inventors or knowledge producers and promote distribution of innovative knowledge is discussed as below -
Reward and Motivate Inventors
In an innovative organization, there are several factors related to firm characteristics, research & development (R&D) strategy, incentive system, project characteristics etc. that are affecting the motivation of an inventor or knowledge producer. In order to develop an optimal incentive system, the management of a firm needs to effectively integrate goals and stages of its R&D strategy with ...
Tapscott and Williams electronic commerce is examined in the solution. The approaches which might be taken to change the current model of innovation to allow both to happen is determined.