INSEAD : IMPATIENT FOR CHANGE, CORPORATE LEADERS REMAIN OPTIMISTIC ABOUT THE FUTURE OF THE EUROPEAN UNION
(Thomson Reuters ONE) -
The '2013 State of the European Union' Report
Calls to Action for E.U. Leaders
Abu Dhabi (UAE), Fontainebleau (France), Singapore - June 6, 2013 - European
business leaders are impatient about changes to be made in Europe. Yet, they
remain optimistic about the European Union's long-term prospects for prosperity
and global prominence. This is a core message of the 2013 State of the European
Union (E.U.) Report released today by INSEAD, Booz & Company, and the European
Executive Council (EEC).
'Business leaders want to move the debate beyond whether budget austerity or
growth stimulation will revitalise Europe," says Javier Gimeno, professor of
strategy at INSEAD, the leading global business school. "Nine out of 10
respondents call for targeted actions to improve productivity and
competitiveness," added Gimeno, who is academic director of the INSEAD European
Competitiveness Initiative, which provides research-based insights into how
Europe can bolster the success of its business community and related
institutions.
The report, titled 'Growing Europe: The Competitiveness Imperative', reveals
that corporate leaders are more pessimistic about Europe than they were last
year (61 per cent compared to 52 per cent). And 88 per cent believe that the
E.U. urgently needs to implement policies to bridge the European competitiveness
gap and raise productivity. However, the good news is that 72 per cent of
corporate leaders do believe the E.U. is capable of achieving positive change,
and looking ahead to 2030, they say the E.U. will remain one of the top global
powers.
'Overall, the mood is one of impatience with a strong call to action: Business
is demanding that the E.U. take bold steps to promote economic, political, and
social policies that directly address growth," says Per-Ola Karlsson, senior
partner at global management consultancy Booz & Company.."There should be no
sacred cows. The question is, will European leaders have the courage to act?'
Even with a potential U.K. referendum looming on the political horizon, business
leaders do not believe the E.U. will lose member countries. However, they
clearly believe tough decisions need to be made.
The report analyses the responses of 1,500 executives both inside and outside of
Europe who were asked about the economic, social, and political aspects of the
European Union. The report will be presented today at the third annual State of
the European Union conference in Brussels.
Corporate leaders strongly believe that the business sector will drive growth.
Because of this, they say their voices must be heard by policymakers.
However, this response does not mean applying a 'one size fits all' solution
across the continent. 'The E.U. can act as an orchestrator: Countries don't have
to sing in unison but the E.U. should entice them to sing in harmony', says
Bruno Lanvin, executive director, INSEAD European Competitiveness Initiative.
'Business leaders do not reject the European social model, but favour incentives
to work-more flexibility in working hours, pensions, and wages-to help boost
growth and reduce unemployment. The data show that in countries where the
economy is stronger, business leaders are open to adjusting the European social
model if it helps solve the high unemployment and low productivity that is
holding Europe back'.
The survey's key findings include:
Economy
1. Eighty-two per cent of corporate leaders see a gap between Europe's
competitiveness and that of other regions, and 49 per cent believe this gap
will increase in the next 10 years.
2. Restoring Europe's productivity is the key economic priority of 88 per cent
of respondents; the majority believe that growth will be spurred by small
and medium-sized businesses, not multinationals or state-owned enterprises.
3. Eighty-eight per cent believe the E.U. could do more to represent business
on a global stage-for example, by negotiating stronger trade links-but it
will have to overcome the perception by non-European business leaders that
Europe is a fragmented collection of markets rather than a single bloc.
Society
1. Fifty-nine per cent of business leaders remain committed to the core
principles of the European social model and favour increased alignment on
minimal standards for health, education, and welfare.
2. The policies for growth require a rethink of social models, where
applicable. For instance, 91 per cent of respondents say the best way to
balance budgets and improve productivity is by increasing the economic
incentives to work.
3. Youth unemployment is a key concern; over 70 per cent of business leaders
are looking for tax incentives to hire more young people and investments and
subsidies to help in retraining the current workforce.
Technology and Innovation
1. Six out of 10 respondents believe the lack of innovation culture is a key
obstacle to economic growth and development in Europe. To boost innovation,
business leaders favour public-private collaboration and tax incentives for
private investment in R&D, given the E.U.'s shrinking budgets.
2. Eight out of 10 business leaders are most concerned about the innovation
threat from China and are less worried than in previous years about similar
competition from India, Japan, and the United States.
Download the full report here:
http://www.insead.edu/home/documents/INSEAD_BOOZ_SoEU_Study2013.pdf
About INSEAD, The Business School for the World
As one of the world's leading and largest graduate business schools, INSEAD
brings people, cultures and ideas together to change lives and to transform
organisations.
With campuses in Europe (France), Asia (Singapore) and Abu Dhabi, INSEAD's
business education and research spans three continents. Our 145 renowned Faculty
members from 35 countries inspire more than 1,000 degree participants annually
in our MBA, Executive MBA, specialised master's degrees (Master in Finance,
Executive Master in Consulting and Coaching for Change) and PhD programmes. In
addition, more than 9,500 executives participate in INSEAD's executive education
programmes each year.
In North America, INSEAD participates in academic partnerships with the Wharton
School; the Kellogg School of Management, and Johns Hopkins University, whilst
in Asia, INSEAD partners with Tsinghua University in Beijing and CEIBS (China
Europe international Business School). INSEAD is a founding member in the
multidisciplinary Sorbonne University created in 2012, and also partners with
Fundação Dom Cabral in Brazil.
Around the world and over the decades, INSEAD continues to conduct cutting edge
research and to innovate across all our programmes to provide business leaders
with the knowledge and sensitivity to operate anywhere. These core values have
enabled us to become truly "The Business School for the World."
More information about INSEAD can be found at www.insead.edu
About Booz & Company
Booz & Company is a leading global management consulting firm, helping the
world's top businesses, governments, and organizations. Our founder, Edwin Booz,
defined the profession when he established the first management consulting firm
in 1914. Today, with more than 3,000 people in 60 offices around the world, we
bring foresight and knowledge, deep functional expertise, and a practical
approach to building capabilities and delivering real impact. We work closely
with our clients to create and deliver essential advantage. The independent
White Space report ranked Booz & Company #1 among consulting firms for "the best
thought leadership" in 2011. For our management magazine strategy+business,
visit strategy-business.com. Visit booz.com to learn more about Booz & Company.
About The European Executive Council (EEC)
The European Executive Council (EEC) is an organisation that represents CEOs and
top executives who lead and manage the European business of their multinational
parent. Started in 2000, the EEC meets quarterly to debate and discuss the
challenges and opportunities of doing business in Europe. The topics covered
range from sharing best practices about organising and developing business in
Europe and effective means of dealing with cross-cultural management, to
explaining the specificity of the European markets to non-Europeans, etc. The
aim of the EEC is to provide its members with both formal and informal
networking opportunities among peers to share ideas and hands-on experience.
###
INSEAD Press Contacts:
Sophie Badré
Tel +33 (0)1 60 72 45 26, Mobile: +33 (0)6 86 07 33 75
sophie.badre(at)insead.edu
INSEAD Europe campus
Boulevard de Constance
77305 Fontainebleau Cedex, France
Tel: +33 (0)1 60 72 40 00
Fax: +33 (0)1 60 74 55 13
Julia Irrgang
Tel +33(0)1 60 72 93 34
julia.irrgang(at)insead.edu
INSEAD Asia campus
1 Ayer Rajah Avenue, Singapore 138676
Tel: +65 6799 5388
Fax: +65 6799 5399
Aileen Huang
Tel +65 6799 5552
aileen.huang(at)insead.edu
INSEAD Abu Dhabi campus
Muroor Road - Street No. 4, P.O. Box 48049
Abu Dhabi UAE
Tel: +971 2 651 5200
Fax: +971 2 443 9428
Joe Chedid
Tel +971 2 651 5329
joe.chedid(at)insead.edu
Press Release PDF:
http://hugin.info/157052/R/1707478/565452.pdf
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[HUG#1707478]
Unternehmensinformation / Kurzprofil:
Datum: 06.06.2013 - 09:00 Uhr
Sprache: Deutsch
News-ID 267125
Anzahl Zeichen: 11215
contact information:
Town:
Fontainebleau
Kategorie:
Business News
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