UK companies need strategic overhaul
The UK's sluggish competitiveness is down to 'pessimism and a lack of an overall strategy', according to Michael Porter, one of the world's leading management gurus.
Research findings by Porter, who was commissioned by trade secretary Patricia Hewitt last autumn to carry out the work into UK competitiveness, revealed that UK companies’ were slower and less likely to adopt ‘modern management techniques’ than their competitors.
But instead of laying the blame solely in the hands of British managers, he said UK changes to economic policy threatened to damage the achievements of the past two decades.
Porter added that ‘the old approach to economic development is reaching the limits of its effectiveness, and government ‘need to rethink policy priorities’.
Many business leaders and companies owners will undoubtedly question the research, which although taking three months to complete was peppered with qualifying statements and confessed not to be comprehensive.