The great innovation debate.
Chief Executive (U.S.) - Nbr. 1998, December 1998
Donlon, J.P.
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Panel discussion on importance of innovation in maintaining global competitiveness - Includes related articles on panelists and on theories of creativity - Panel Discussion
Management theorists and CEOs disagree over the role of innovation in enhancing the international competitiveness of business enterprises. Michael Porter, business administration professor at Harvard University, argues that innovation and the ability of the industry to do unique things will preserve America's leadership in international competition. Thus, he is calling for the creation of a mechanism that will sustain public investment in basic R&D. Other CEOs, however, claim that the benefits from the huge budgets spent on R&D are not accurately reflected in productivity measures used by companies. Also, CEOs are optimistic about the nation's market vitality, capital availability and access to international markets. Nevertheless, most business leaders agree that immediate action is necessary to promote more innovation in business and industry.
Business
Business, general
Management
Technological innovations
International competition Economics
Innovations
Conferences, meetings and seminars
The great innovation debate.
Improving quality and slashing costs will not be sufficient for U.S. firms to hold their own in the global economy. Nor can the country's position as an innovation leader be taken for granted. CE gathered business leaders and competitiveness scholar Michael Porter to examine steps CEOs need to take.
The collapse of the Soviet Union, the financial crisis in Asia, the U.S.'s admirable record in job creation, and a stock market piercing the stratosphere have excited giddy assertions that the U.S. has entered a "new economic paradigm." Has declinism of the early 1980s been replaced with triumphalism of the late 1990s? Although confident, most U.S. CEOs do not share the belief that economic growth and low inflation will continue indefinitely. The consensus of opinion at a recent summit of CEOs, university presidents, labor leaders, and political leaders held by the Council on Competitiveness at MIT, is that the U.S. faces a challenge to maintain global leadership through innovation. CEOs and other leaders agree that the education system will be the nation's single greatest vulnerability over the next decade. The decline of homegrown science and engineering graduates could seriously diminish the pool of talent available to industry. Leaders are similarly concerned about the future of the national research base. With federal and corporate spending on basic research having declined in part due to defense cutbacks, many express concern whether the seed corn for future innovation is being consumed. Overall, however, leaders were optimistic about the nation's capital availability, market vitality, and access to international markets. A similar if slightly more optimistic consensus was reached at a CE gathering - cosponsored with the Council on Competitiveness, QI International, and Personnel Decisions International - held prior to the summit, of CEOs and Harvard professor Michael Porter, who has worked with the Council on its Competitiveness Index and is providing t...Try vLex for FREE for 3 days
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