Supply-side strategies are usually linked directly with attempts to promote more innovative behaviour. Indeed the focus of government policy is firmly focused on improvements in the microeconomics of markets
Which policies might encourage more innovation?
|Technology Mechanism||How It Creates an Business Advantage||Example|
|A new process||Produce faster, at lower cost or better quality||Internet banking|
|Solve a complex problem||Do something competitors find hard to master||Google search engine|
|A new product||The first product to market||The iPod|
|Protect a valuable idea||Have something others can only sell if they pay for a licence||Pfizer's Viagra|
|Rewrite the rules||A completely new approach which makes other products and markets redundant||Digital cameras|
A plan to fit all new cars sold in the European Union from March 2018 with technology to contact emergency services after an accident - this will be known as e-call technology
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