Innovation is not what it was in the 20th century; the classic century of R & D based innovation. The nature of innovation is changing, only in part because different technologies dominate innovation. This paper identifies three main societal trends that are of major importance for strategic management of innovation in industry and for government industrial- and technology policies. These trends are:
- Growing complexity
- Globalisation
- Citizen participation
As a result, innovation strategy and technology policies cannot be determined by ad hoc technology push and market pull factors popping up. Strategic planning, not just of products and technologies but also of sites and alliances becomes increasingly important. Transparency and stakeholder dialogue require new competencies of the technology manager.