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Soft InnovationEconomics, Product Aesthetics, and the Creative Industries$
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Paul Stoneman

Print publication date: 2010

Print ISBN-13: 9780199572489

Published to Oxford Scholarship Online: May 2010

DOI: 10.1093/acprof:oso/9780199572489.001.0001

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Soft Innovation Outside the Creative Industries: Food, Pharmaceuticals, and Financial Services

Soft Innovation Outside the Creative Industries: Food, Pharmaceuticals, and Financial Services

Chapter:
(p.113) 5 Soft Innovation Outside the Creative Industries: Food, Pharmaceuticals, and Financial Services
Source:
Soft Innovation
Author(s):

Paul Stoneman

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780199572489.003.0005

This chapter is the second taking a micro view and explores the role of soft innovation in three industries outside the creative industries, i.e. food, pharmaceuticals, and finance. Outside the creative sector the measurement of soft innovation is hampered by data availability. However, it is possible to observe extensive soft innovation as reflected in new product launches that do not reflect changed functionality. This is especially prevalent in the food industry, but also can be found in banking and pharmaceuticals. The study of generics in pharmaceuticals suggests that soft innovation activity may be the larger part of innovative activity in that industry. All the data at differing levels of aggregation indicates that rates of soft innovation are high and that such innovation is widespread and extensive. The chapter argues that to concentrate solely on TPP innovation and to ignore soft innovation provides only a limited and biased picture of total innovative activity.

Keywords:   financial services, food, pharmaceuticals, TPP innovation

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