Competitive horizon

Citation

(2010), "Competitive horizon", Strategic Direction, Vol. 26 No. 8. https://doi.org/10.1108/sd.2010.05626hab.001

Competitive horizon

Article Type: Competitive horizon From: Strategic Direction, Volume 26, Issue 8

Switzerland best innovator in Europe

A recent European Union survey has ranked Switzerland as the most innovative of 33 countries in the region, a report published by www.swissinfo.ch points out. The nation earned second spot in the last annual European Innovation Scorecard but climbed to the summit following a significant rise in ideas and their subsequent application throughout 2009. The report noted Switzerland’s continuing strength in patents and work force quality was likewise rated highly. Another plus was being able to sustain innovation momentum during the economic downturn, especially since neighboring countries faltered. Switzerland has previously been accused of lacking the practical and entrepreneurial skills to transform ideas into commercial success. However, research conducted by the KOF Swiss Economic Institute discovered that the country achieved the best sales to innovations percentage in Europe. According to the Institute, Swiss companies have achieved international recognition for originality of products and services within various sectors that include pharmaceuticals, machinery, chemicals and finance. The report also claims that Switzerland’s innovation capabilities help attract leading firms into the country to collaborate with academics, research institutions and skilled professional to further stimulate development.

Better support urged for UK motorsport industry

A House of Commons committee has urged the UK government to provide better support for the country’s motorsport industry. The industry houses 4,500 small firms and the House of Commons Business, Innovation and Skills Committee considers it key to UK manufacturing. The report, as published by the BBC (www.bbc.co.uk), warns against treating a nationally important industry as niche. UK motorsport enjoys international eminence and generates annual sales of over £6 billion. To safeguard the UK’s leading position, the Committee recommends that a specialist policy team is created to oversee the motorsport industry. The report also notes Motorsport Industry Association (MIA) concerns about other countries setting up government programs aimed at seizing a share of motorsport business to further threaten UK interests. An additional worry for the industry’s future is the growing tendency among UK students to opt for motorsport management courses instead of technical engineering.

China poised for tourism summit

The United Nations World Tourist Organizations (UNWTO) claims that China is on schedule to become the leading tourist destination in the world by 2015. The country has currently achieved the position as fourth most popular and the speed of growth makes the target attainable, a report published by www.china.org claims. With 80 million visitors annually, France currently holds top spot from Spain and the USA. Both these nations attract 60 million visitors. Only 8 million people visited China a decade ago but the number of tourists per year has now risen to around 48 million. UNWTO believes that huge growth potential remains because of the country’s size. Globally, the organization acknowledges improvement in the tourism industry but points out that full recovery is dependent on the worldwide economy growing stronger.

Oil and gas to boost Ugandan economy

Imminent oil production is expected to generate annual revenues of $2 billion that can be used to achieve sustainable development in Uganda, a report published by all Africa (www.allafrica.com) points out. The income should come from personal and corporate taxes, royalties, property tax and indirect tax. In line with a national policy set up for oil and gas, revenues will be used to help reduce fiscal deficit and enable investment to enhance competitiveness in other sectors of the economy. Oil production will also enable Uganda to reduce its spending on imported petroleum products that currently account for more than 17 percent of the nation’s total import costs. It is hoped that efficient management of oil and gas revenues together with the export of petroleum products will positively impact on the balance of payments. Reducing the need to import petroleum products will also make the Ugandan economy less vulnerable to price and availability fluctuations. According to the report, exploiting oil and gas will provide the raw materials needed for manufacturing processes and enable the country to develop a petrochemical sector and various related industries. Opportunity to refine oil by-products for use in the manufacture of such as plastics, soap, paints, medicines and pesticides is mentioned, along with the potential impact on agriculture.