The Imperative: Implementing a strategy for better functioning labour markets
Seldom have companies and their employees confronted an environment as dynamic and challenging as the one we face today. Accelerating advances in technology, a fast-changing and dynamic marketplace, demanding customers, mounting global competition, and pressure from investors are our reality. We face many challenges. Global financial markets and an open trading system require firms to match competitors more quickly in efficiency, profitability, price, quality, and innovation.
A competitive business model in the 21st century requires the optimum sourcing of products, services, and people. Organizations must provide business and technical expertise, be diverse with a global presence while also being adaptive and collaborative.
Deploying a global business model means development of a globally integrated environment, optimizing skills globally to create a portfolio of business and skills to better compete, and better serve the evolving needs of customers worldwide. Being able to deploy the best talent and most suitable resources wherever they are required demands workforce flexibility. Success is also built on sustained investments in the skills and development of employees.
Government leaders face difficult challenges in this complex and fluid environment. Technological advances and diffusion, with an increased focus on education and skills development around the world has resulted in an increasingly competitive global marketplace. Countries work hard to attract and retain investments and struggle to respond to the competitive demands of a constantly changing global marketplace.
IBM is encouraging policy makers to focus on positive actions to improve innovation capability and skills development, as opposed to protectionist responses. We strongly believe that governments can play a critical and sustaining role by creating an environment that encourages learning, dynamic training models and innovation. Competing in the global marketplace can be challenging but with challenges come opportunities.