Showing posts with label economy reports. Show all posts
Showing posts with label economy reports. Show all posts

Monday, September 8, 2014

Harvard Report Highlights Divergent Threats to Long-Term U.S. Competitiveness

Harvard School of Business released its 2013-2014 U.S. competitiveness report that unveils difficulties related to a lack of skills, employment opportunities, small business development, infrastructure and governmental effectiveness.  Highly skilled professionals, medium size businesses and large corporations have successfully weathered the effects of the recession but are leaving behind many in the skilled labor and middle class sectors of society. The results point to a divergence in society that may slow growth in the future and damage long-term American competitiveness. 

The education system is seen as not meeting current needs for the development of new skills to create a stronger workforce. Companies desire to develop stronger internal skills training but have not yet matched this need within their policies.  Collaborating employment needs with the education system will help in narrowing the gaps between employers and school decision-makers.

Two separate societies are developing where highly skilled and educated individuals are employable while those who have not achieved this level struggle to find higher paying jobs.  Collaborating with public education, experimenting with higher education, and encouraging in-house corporate training can make a difference in preparedness. 

Even though corporate profits have risen to higher levels there is a concern over transportation infrastructure. Current infrastructure is seen as slowing down progress and lacks a unified strategy to create stronger platforms for development.  The lower cost transactions of moving resources and information is needed to encourage opportunities for business development.

Small businesses have suffered during the recession and have not regained their initial positions. It is recommended that a stronger effort to develop and foster small business as an avenue of innovation and skill development is important for the long-term viability of the nation.  Small business is an important contributing sector to employment opportunities and national adaptability.

Executives are more optimistic in recent years but regularly search outside the U.S. for employees with the right skills. They could better develop their internal training and put pressure on the public education system to better prepare students. Government also needs to put aside their partisan differences and start developing proactive policies that take America into its next level of efficient and effective governance.  Without a stronger platform of infrastructure development many of the gains organizations have achieved will plateau as they run into larger policy constraints that hamper businesses opportunities to invest and grow.