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The purpose of this chapter is to describe the role of science parks in the encouragement and stimulation of some critical business processes, including innovation management, creativity and new product/service development processes. The chapter further looks at the cooperation between higher education institutions and companies located in science parks, towards the facilitation of the transfer of knowledge, technology and people (researchers and managerial staff), as well as of the design, testing and launching of new products, the realisation of joint research activities and the commercialisation of university research ideas. It is argued that science parks in the future should integrate innovations into their management systems—such as Total Quality Management systems, the European model or the American model for Total Quality Management, the Deming management method and the Six Sigma—in order to deal with the changing needs of the knowledge economy.
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- Innovation, Creativity, New Product Development Processes and the Role of Science Parks
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