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Italy and Innovation

General Electric Global Innovation Barometer Investigating on Global Innovation Trends and Perceptions

Italy and Innovation

Claudia Astarita

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The General Electric Global Innovation Barometer is an international opinion survey of senior business executives living in 26 different countries and all actively engaged in the management of their firm's innovation strategy. The aim of the survey is exploring how the perception of innovation is changing in a more and more complex and globalized environment. In particular, it examines the way business executives appreciate the framework of innovation their country has developed, and details their perspective on the most efficient policies to support innovation.

As far as Italy is concerned, only 50 per cent of executives believe that people in their country live better today than ten years ago thanks because of the impact of innovation. Despite that, 90 per cent of them agree that merging and combining talents, ideas, insights and resources across the world is the only way to be successfully innovative.

Italian executives identify the understanding of costumers and market trends as a clear priority to master innovation successfully, together with the ability to attract and retain skilled professionals. However, only 25 per cent of them think that their company performed well in both areas, mainly because of the lack of sufficient financial support as well as the difficulty to come up with radical and disruptive ideas.

Finally, it is interesting to notice that Italy's framework for innovation is perceived relatively positively by executives from other markets with 41 per cent saying that Italy has developed a framework conducive to innovation. On the contrary, Italian executives' self-evaluation of the overall framework for innovation is lower than this, with 27 per cent reporting Italy has developed an innovation-conducive environment this year. Regarding the perception of the efficiency of government support for innovation, only 9 per cent of executives agree that government support for innovation is efficiently organised, much lower than the global average (40 per cent).

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