The Looming Challenges of US Competitiveness: Implications for Philadelphia

Michael E. Porter

Interview | 11 Mar 2014

The Looming Challenges of US Competitiveness: Implications for Philadelphia

Abstract

The third installment of the Fox School's Innovation Leadership Speaker Series featured Professor Michael E. Porter, William Lawrence University Professor, Harvard Business School. Dr. Porter addressed the factors driving innovation and competitiveness in a given region. He shared his research into the role of regional clusters in job creation, innovation, and entrepreneurship. He also provided tools to help practitioners and policymakers create successful regional strategies, assessing the competitiveness of the Philadelphia region and offer implications for the future. Dr. Mercedes Delgado, Assistant Professor of Strategic Management within the Fox School of Business, is a co-researcher on Dr. Porter’s work on innovation clusters and competitiveness. He is a team member of a research project funded by the U.S. Economic Development Administration on Mapping Regional Innovation Clusters.

Keywords: competitiveness; economic analysis; Economics; Philadelphia;

Language: English

Format: Print

Read Now

Citation:

Porter, Michael E. "The Looming Challenges of US Competitiveness: Implications for Philadelphia." Innovation Leadership Speaker Series, Temple University, Fox School of Business, Philadelphia, PA, United States, March 11, 2014.

The traumatic experience of the European sovereign debt crisis, followed by the outcome of the British referendum on leaving the European Union, has sent shockwaves through Europe. For the first time since the signing of the Treaties of Rome six decades ago, the very notion of European integration as embodied in the institutions of the European Union was being questioned. A substantial improvement in economic conditions and the messy reality of the Brexit process in the UK have since then led to a significant recovery in sentiments about the EU’s future. A majority of citizens in all but three EU member countries view membership in the EU as beneficial. EU Commission President Juncker sees “the wind […] back in Europe's sails.”

On June 23rd, 2016 52% of UK voters opted to put their country on the path to leave the European Union by March 29, 2019. This result was a surprise to many, and went against the advice of the vast majority of economic experts and business leaders. Two years later, and after a remarkable period in UK politics, key questions about the future relationship between the UK and the EU remain unresolved. Various models have been proposed; the latest one by Prime Minister May triggered the resignation of a number of key ministers. All of them struggle to deal with a fundamental tension: how to square barrier-free trade between the UK and the EU, especially across the border between Ireland and Northern Ireland, with both full policy sovereignty for the UK and adherence to the ‘four freedoms’ at the heart of the EU's Single Market. A ‘no deal’ Brexit by default remains an option, despite the costs to UK businesses and the wider UK economy.

As the largest company, by revenue, in the world, Walmart has been a lightning rod for criticism. However, in an attempt to stay ahead of traditional and digital retailers, and keep customers satisfied with evolving demands, the company is strengthening its competitive advantage by creating Shared Value. Current CEO, Doug McMillon outlines his strategy for fending off competition, navigating a challenging retail landscape, and positioning Walmart as a leading retailer for today and the future.

Faculty & Research

The Looming Challenges of US Competitiveness: Implications for Philadelphia

Abstract

Citation:

About the Author

More from the Author