This paper characterizes the innovation strategy of manufacturing firms and examines the relation between the innovation strategy and important industry-, firm- and innovation-specific characteristics using Belgian data from the Eurostat Community Innovation Survey. In addition to important size effects explaining innovation, we find that high perceived risks and costs and low appropriability of innovations do not discourage innovation, but rather determine how the innovation sourcing strategy is chosen. With respect to the determinants of the decision of the innovative firm to produce technology itself (Make) or to source technology externally (Buy), we find that small firms are more likely to restrict their innovation strategy to an exclusive make or buy strategy, while large firms are more likely to combine both internal and external knowledge acquisition in their innovation strategy. An interesting result that highlights the complementary nature of the Make and Buy decisions is that, controlled for firm size, companies for which internal information is an important source for innovation are more likely to combine internal and external sources of technology. We find this to be evidence of the fact that in-house R&D generates the necessary absorptive capacity to profit from external knowledge acquisition. Also the effectiveness of different mechanisms to appropriate the benefits of innovations and the internal organizational resistance against change are important determinants of the firm's technology sourcing strategy.

Every firm must maintain an entrepreneurial ecosystem and a coherent innovation strategy in order to stay ahead of the competition. For managers this means being able to build a vision of what innovation looks like in the context of their organization, fostering entrepreneurial behaviour, spotting opportunities and making the right decisions. Based on years of practical experience and unique insight, this handy guide identifies fundamental challenges and is rooted in concrete examples. Accompanied by a brand new app for iPhone and Android as well as a companion website (www.NavigatingInnovation.org), this is an easy dip in, dip out guide with a focus on successful execution. Navigating Innovation is a one-stop-shop, giving you a deeper understanding of the core concepts and tools to capture the right opportunities for your business.

High-tech businesses form a crucial part of entrepreneurial activity – in some ways presenting very typical examples of entrepreneurship, yet in some ways representing quite different challenges. The uncertainty in innovation and advanced technology makes it difficult to use conventional economic planning models, and also means that the management skills used in this area must be more responsive to issues of risk, uncertainty and evaluation than in conventional business opportunities. Specifically focusing on the mix of theory and practice needed to accurately inform students, the key topics covered include: uncertainty and innovation entrepreneurial finance marketing technological innovations high-tech incubation management. Including case studies to give practical insights into genuine business examples, this comprehensive book has a distinctly ‘real-world’ focus throughout. Edited by a multi-national team, it draws together leading writers and researchers from across Europe, making it a must-read for all those involved in advanced entrepreneurship with specific interests in high-tech start-ups.

Successful innovation depends on the development and integration of new knowledge in the innovation process. In order to successfully innovate, the firm will combine different innovation activities. In addition to doing own research and development, firms typically are engaged in the acquisition of knowledge on the technology market and cooperate actively in R&D with other firms and research organizations. In this paper we provide evidence on complementarity between different innovation activities. Using data from the Community Innovation Survey on Belgian manufacturing firms, we show that firms that are only engaged in a single innovation strategy, either internal R&D activities or sourcing technology externally, introduced fewer new or substantially improved products compared to firms which combine internal and external sourcing. This result is consistent with complementarity between own R&D and external technology sourcing activities. Furthermore, we show that the different innovation activities are strongly positively correlated and identify common drivers, resulting in the perceived complementarity between these innovation activities. An important finding is that a capacity to strategically protect intellectual property and a more basic R&D base which may serve as an absorptive capacity, are important common drivers for the different innovation activities.

The essays presented in this volume examine knowledge mobilisation and its relation to research impact and engagement. The social sciences matter because they can help us to understand and address the complex challenges confronting society. This is particularly true in an era of significant downward pressure on public expenditure, a consequence of the global fiscal crisis, when there is a striking need to ensure that policies are demonstrably effective and efficient. The impact agenda in the UK, reflected in parallel global debates, actively encourages the social sciences to make and demonstrate a difference; to justify and protect social science funding. This volume shows how knowledge mobilisation can be thought of systematically as a process, encompassing engagement, leading to the co-production and channelling of knowledge to make a difference in the economy and society. This book was originally published as a special issue of Contemporary Social Science.