As promised a couple weeks’ back, here is my blog post where I highlight the findings of the World Economic Forum (WEF) 2013-2014 Global Competitiveness Report related to the Latin American region.
This year the LatAm region fared about the same. There was some movement upwards in the competitiveness index (Costa Rica, Ecuador) and some movement downwards (Chile, Brazil) but overall the region remained stagnant.
The WEF points to a) internal and external demand and b) access to financing as growth drivers yet warns that traditional sources of competitiveness gains (sound macroeconomic practices, credit, etc) have been exhausted and therefore LatAm economies would be wise to focus on a) improving infrastructure b) functioning of institutions c) allocating production factors based on competition and d) improving skills, technology and innovation base.
The first two suggestions for improving competitiveness come as no surprise and are regularly discussed by economists and the LatAm business community. The final two – allocation of production factors through increased competition and improving skills, technology and innovation – lie in the realm of both public and private enterprise.
Through my articles written for Forbes Mexico and for America Economia, I focus on innovation in leadership and on improving organizational results by focusing on the value proposition and the “why” behind purchase decisions. I believe that the sky is the limit in bringing together talent (skills), opportunity and belief (vision, purpose etc) and I don’t think innovation is defined by the number of new products or services you produce or limited only to the private sector. Innovation is linked to competitiveness and linked to finding solutions to the world’s (and our region’s) problems.