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The INSEAD European Competitiveness Initiative
Europe is currently facing one of the most difficult times in recent history with the onset of the European-sovereign debt crisis. As one of the world’s leading business schools with deep historical roots in Europe, INSEAD has launched the European Competitiveness Initiative to pull together 25 professors whose expertise lies in European business and over 40,000 skilled alumni and business owners to reexamine, research, rework and restructure a knowledge base and framework for designing an agenda for Europe’s long-term competitiveness in the global market.
With campuses in France, Singapore and Abu Dhabi, INSEAD’s proposal and implementation of the initiative has been a natural move as the school’s original campus lies in the heart of Europe in Fontainebleau, France and can thus offer perspectives from within Europe, but also from outside Europe as well. The initiative seeks to better understand the current crisis and explore solutions for improving future competitiveness through research via business perspectives alongside political and economic perspectives, rather than just the political and economic approach that is often seen. Through case studies, research projects, collaborative events and conferences, given the rich resources provided by INSEAD and the wide cultural and professional perspectives within the school’s base, researchers and businessmen will be able to aptly study the qualities, strengths and weaknesses that have led certain global businesses to failure and others to success, and use these examples to apply to the European market.
Oftentimes, European businessmen and policymakers see the cultural and linguistic diversity within Europe as having a negative impact on Europe-wide competitiveness, placing barriers between cultures and people. However, many are changing their outlooks to see the current crisis as a window of opportunity to bridge cultural and linguistic differences and create a better, more stable and standardized market for growing business. Europe offers a unique location with many great incentives for businesses, such as a highly educated workforce amidst sound infrastructure and diverse perspectives for innovation.
With the rise of China’s economy and the growth of developing nations entering into the business-marketing arena, there is a real and recognizable need for Europe to rethink and rework its business strategy in order to maintain and improve its global competitiveness. By fostering open dialogue and cooperation between businesses, academics, policymakers, economists and professionals, the INSEAD initiative will aid in building and implementing the agenda for European competitiveness for a long-term position of advantage.
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