Table of Contents

Restoring America’s Global Competitiveness through Innovation

Restoring America’s Global Competitiveness through Innovation

New Horizons in International Business series

Edited by Ben L. Kedia and Subhash C. Jain

Though we live in an era of rapid innovation, the United States has introduced comparatively few commercial innovations within the past decade. Innovation shortfall contributes to weaker trade performance, decreased productivity growth, lower wages and many other economic woes. This study provides insightful recommendations for developing enhanced innovation efforts that could help foster substantial, long-term economic growth.

Chapter 10: Strengthening America’s international competitiveness through innovation and global value chains

Vinod K. Jain and S. Raghunath

Subjects: business and management, international business, organisational innovation, innovation and technology, organisational innovation

Extract

The last decade saw many policy debates, business and government initiatives and legislation intended to strengthen America’s international competitiveness. These include the 2004 National Innovation Initiative led by several major corporations and universities, the National Innovation Act of 2005,the Rising Above the Gathering Storm report of the National Academies in 2005, the American Competitiveness Initiative announced by President George Bush in his 2006 State of the Union Address and the America Competes Act of 2007. In 2012 the White House launched a Startup America initiative to ‘celebrate, inspire, and accelerate high-growth entrepreneurship throughout the nation’. The initiative is designed to promote entrepreneurship as a core element of President Obama’s national innovation strategy for achieving sustainable growth and high-paying jobs in America. Not to oversimplify, the broad theme that runs through these initiatives is that the USA has been losing its leadership position in science and technology, which has serious consequences for its international competitiveness and prosperity for its people.

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