Examining the Complexities Between Policy Development and Innovation

Abstract

The policy environment has become increasingly complex over the past decades, adapting to shifts in society, economy, as well as showing more harmonization internationally. Simultaneously, the business environment has been shaped by emerging trends, technological advancements, and a steep increase in competition. Therefore, the ability to innovate and capture value, potentially disrupting an industry, is a significant success factor in achieving business growth and relevance. For those purposes, this paper aims to examine the complexities between policy development and innovation, by analyzing existing literature and supplementing it with a specific research, in order to establish a better understanding of the linkages between the macro and micro levels. Subsequently, this paper explores how outcomes of such interactions can be evaluated and decision-making processes, as well as strategies, adapted, in order to successfully navigate those complexities, whilst enhancing innovation capabilities.