Page 16 - COMPASS - COMPETITIVENESS REPORT 2021 | COUNCIL OF COMPETITIVENESS IN GREECE

“COMPASS” REPORT 2021 – COUNCIL ON COMPETITIVENESS OF GREECE 15

European Skills Index (ESI) – European Commission/
Cedefop:
Area of Focus: Skill development systems
Rating Factors: Development of skills, activation of
skills, correspondence to demand

Global Innovation Index - WIPO, Cornell, INSEAD:
Area of Focus: Innovation
Rating Factors: R&D activity, knowledge and
technology, complexity in business

Innovation is a term widely used in recent years, in
ΒΑΣΙΚΟΙ
various facets of daily and business life. To facilitate a full ΔΕΙΚΤΕΣ
understanding of this report, it is deemed useful to define
innovation as used by the Global Innovation Index (GII).
According to this definition,
ΣΥΜΠΛΗΡΩΜΑΤΙΚΟΙ
ΔΕΙΚΤΕΣ
“An innovation is a new or improved product or service (or
combination thereof) that differs significantly from the unit’s
previous products or processes and that has been made

available to potential users”.
Accurate assessment of innovation is a vital challenge, as the

term is close to becoming synonymous with the capacity to
innovate through the use of new technological combinations,
and encompasses concepts such as “researchless innovation”
and “exponential economy”.