U.S. Execs Expect Storm of Foreign Tech Competition
Most U.S. business professionals and executives believe the United States is likely to lose a share of the Internet and information technology markets to India and China due to superior innovation in those countries, according to the results of a survey of U.S. business professionals.
Eighty-one percent of the 1,962 survey respondents believe the United States needs to develop policies to increase the number of graduates in science and engineering if it wants to maintain its competitive edge against other countries. The survey was conducted by Fast Company magazine; IMD MBA, a business school based in Lausanne, Switzerland; and Egon Zehnder International, an executive search firm.
Most survey respondents (74.5 percent) agreed that innovation can and should happen anywhere in the world and that U.S. companies should worry less about international competition and focus more on being effective businesses.
“Respondents identify increasing competition from China and India but support the importance of gaining experience and doing business in those markets,” says Dr. Sean Meehan, IMD MBA program director.
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