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If you want to innovate, the best place to do it is the United States, senior business executives say.
According to a new “Global Innovation Barometer” report from GE, which polled 1,000 senior execs from 12 countries, the U.S. is the clear “innovation champion” in the world, followed by Germany, Japan and China. The top 10, along with the percentage of agreement, below:
- U.S.A. (67 percent)
- Germany (44 percent)
- Japan (43 percent)
- China (35 percent)
- Korea (15 percent)
- India (12 percent)
- Sweden (8 percent)
- U.K. (7 percent)
- Israel (6 percent)
- France (4 percent)
According to the report, a strong majority believe that innovation will take on forms not yet seen in history, will be localized to specific markets and driven more by creativity than by scientific research alone.
A similar majority believe younger generations have an “appetite” for innovation. Simple majorities believe that copyright laws, the speed of bringing products to market and existing trade regulations are adequate to foster innovation.
More interesting data points from the report:
- 95 percent of respondents believe innovation “is the main lever for a more competitive national economy”
- 88 percent believe innovation is “the best way to create jobs” in their country
- 77 percent believe the greatest innovations will be those that address human needs, not just generate the most profit
- Innovation seen to benefit communications, healthcare, environment, economy, transportation, energy security and education the most.
- The countries that believe the most in innovation (”optimists”): Saudi Arabia, UAE, Brazil, India
- The countries that believe the least in it (”pessimists”): Japan, South Korea, China
Just 19 percent believe large companies will drive innovation.
For “optimist” countries to achieve innovation, GE says financial support and R&D partnerships with universities is key. For “pessimist” nations, GE says IP protection, long-term private investment and partners are key.
If you’re interested, here’s the full report:
GE Global Innovation barameter 2011
Hi Lou,
ReplyDeleteThe beginning of your piece tells it all...... 1000 executives worldwide? Hardly a broad scoped poll.
I would agree that the US is amongst the leaders and slowly falling further behind, but not in first place by any stretch. The foundations of a sound economy (Econo 101) must see stimulation from the bottom up, with a strong emphasis upon the entrepreneurial dynamic. One can easily see that at present this dynamic is "topsy turvy"? With American Capital stashed in banks, by both the financial and corporate sectors, and no sign that they will soon begin stimulative lending activities, to enable a reenergizing of this dynamic in the US model?
The political landscape is an added stifling component, which further exacerbates the issue. The trickle down theories of the last 30 years, which in essence destroyed American ingenuity and entrepreneurial activity, will not be so easily discarded by those who hold it as their economic ideology! It has become almost a religious mysticism for the "extreme" right, that only the truly rich understand how to manage America. Arrogance defined.
See link below
ReplyDeleteIs it greedy, corporate, blood sucking billionaires influncing public policy or
Winning the future?
What say you Lou? James?
http://www.siliconvalley.com/news/ci_17415024?nclick_check=1
@johnC...Just to be clear. My position is that in order for the US to recapture a positive approach to a sound economic mode, it must get back to the basics of capitalism. I refer you to my previous comment.
ReplyDeleteIn meeting with the "men with the money" as in your reference, I assume Obama is doing what is needed to assure the dynamic young technocrats of the silicon sect, that his admin is fully committed to creating a future for the country with their help.
To avoid any further confusion, I would need for you John to investigate the differences between real free enterprise capitalism, and the suffocating "trickle down" economic corporate capitalism, of the past 25 years. This will require you to understand that there are 2 differing approaches to a full free market. The entrepreneurial dynamic and the socialist corporate dynamic. America has been crushed by the latter!
this consists of small groups of mediocre men making sweeping decisions about the nation's balances of wealth distribution, and with full influence and control of the ideological factors of their society, all from within the secret confines of their boardrooms. Capturing innovation and suffocating investment to their own ends. to supposedly serve the needs of their stockholders? But in reality to enrich themselves and their cadre of supporters. Pure socialism taken to the extreme.
The opposite is pure capitalism as a tool for the benefit of all of the society. As it was always meant to be! Free enterprise and research and development under the banner of entrepreneurship. The origins of the American economic miracle. Access for all, with competition spurring innovation! That is winning the future John.
The old guard will fight like "cat and dog" to resist it. They want to maintain their dynasty of power and control. Basically to them the perfect state is a servile system not unlike the empirical systems of old. This is my response to your prompting.....?
John And Lou, .......The following article from my site applies to this topic of renewal in economics and capitalism. Hope you find it stimulating.
ReplyDeletehttp://www.jamesconvey.com/1/post/2011/02/a-new-economic-format-is-required1.html
You might also find this of interest....... goes back to sept 15th 2009
ReplyDeletehttp://www.jamesconvey.com/uploads/3/3/8/3/3383644/itsnotrealmoney.pdf
John C, I read the article. It is not clear to me if you are looking for my opinion about what Obama is doing per say, or simply the fact that he meeting with billionaires?
ReplyDeleteI don't by default think of all successful people as "blood sucking". Many of the people in this particular meeting are creative entrepreneurs who created their companies from scratch, and in the process created a lot of jobs in America, as well as overseas.
That is much different from professional managers who are hired to run established companies. They lay people off, usually in the U.S., many of whom are responsible for the company continuing to be successful, and then pay themselves many millions in bonuses because they saved many more millions by laying the people off.
I know there is another side to the story, but it is difficult for me to side with people who are only creative in finding ways to pay themselves a lot of money - ostensibly for saving the company, instead of finding creative ways to save jobs.
I don't see these CEO's moving themselves to India or China, just thousands of other people's jobs. But these companies are not completely removed from the countries they operate in, particularly the U.S. What they do has an impact on lots of people right here. They have created a rising tide for only themselves, while the tide is going out on millions of middle class people.
If they are going to get any respect from me, they will cut their own bonuses and suffer relatively similar downgrades in lifestyle to the downgrades being experienced by the people they lay off.
The gap between the rich and everyone else has been the root of uprisings since the beginning of time, including what is happening in the Middle East right now. There is no guarantee that it couldn't happen here.
Lou and James,
ReplyDeleteAs you have both commented on my post – I just found them today -- I owe you a response. You may be shocked to find that I agree with most of what you say.
James, at first I thought your concept of “socialist capitalism” was an oxy moron but as I read about it I think I get where you are coming from. I tend to group the corporate world into the companies that make things and generate wealth and the “money men” of wall street who make money by manipulation and speculation. To simplify the former is good and the latter is bad. My thoughts are not well developed on the subject and I don’t really intend to delve much further because it doe not interest me that much.
Lou, I really wanted to know if you supported this type of meeting or not? I still don’t think I know the answer. There is a very political aspect to it. It also could be interpreted as some very high powered influential people gaining more influence. Or it could be the President getting ideas on how to improve the economy. Is it a group of old adversaries “burying the hatchet”. I’m not sure we will ever know but your point of view would interest me.
I really understand you position on the professional managers. The bonus system is out of control but there are many aspects of the bonus system that were developed as an unintended consequence of trying to get more tax money from these people . I don’t agree that all their bonuses were generated by laying people off. In bad times this is true. In good time these same people hire a lot of people. Don’t forget that in the 2000’s there were periods of time when the unemployment rate was really low and they couldn’t hire enough people. During this period they made there money by taking risky bets and by legalized fraud.
Finally, I have to challenge you on the Middle East comparison. There is no comparison. The people that are getting overthrown in the Middle East are oppressive dictators who do not have democratic elections. It is true that the catalyst that started these uprising were from some of the things you point out about inequality but they have no other option than to overthrow the dictator. We have semi-free elections and have the option of a peaceful uprising every two years. Of course that does not mean that it could not happen – you just can’t compare it to what is happening in the Middle East.