Professor Jaideep Prabhu, Nehru Professor of Indian Business and Director of the Centre for India & Global Business, Judge Business School, University of Cambridge explains why governments across Europe and North America are banking on innovation, or the successful commercial exploitation of new ideas, to kick start economies and help save the west from the current economic crisis and looming recession. Professor Jaideep Prabhu challenges the consensus that legislation at country level is the best way to boost the ability to innovate within firms and countries. He argues instead that in today’s rush to innovate, the successful economies will be those whose firms have internalised attitudes and practices that foster innovation into their corporate culture.
