Improving Productivity by Adopting Existing Technologies and Sustainability

Improving Productivity by Adopting Existing Technologies and Sustainability

Hugo Ferreira Braga Tadeu (Innovation and Entrepreneurship Centre, Brazil) and Jersone Tasso Moreira Silva (Universidade Fumec, Brazil)
DOI: 10.4018/978-1-5225-3012-1.ch018

Abstract

Economic blocs such as BRICS and MIST are facing decreases in GDP, high interest rates, and a drastic reduction of the productivity of companies. Innovative strategies and new business models have to be considered as a way to improve productivity and reduce operational limitations. Digitalization technologies are altering the structure of competition, productivity, job creation across emerging and developed economies, the conduct of business, and ultimately, performance across industries. The goal of this chapter is to provide insight and stimulate discussion among all stakeholders about the best strategies and policies to help BRICS and MIST to overcome the obstacles and improve competitiveness. In this study, the authors applied the PICAM method in order to estimate the influences of the three pillars from the WEF Global Competitiveness Report that specifically contribute to competitiveness, innovation, and technology analyses, observing digitalization investment opportunities for BRICS and MIST. The results have shown that BRICS and MIST lack investments in technological readiness, business sophistication, and innovation. They conclude that companies can still improve productivity by adopting existing technologies or making incremental improvements in other areas; for those that have reached the innovation stage of development, this is no longer sufficient for increasing productivity.
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Competitiveness And Productivity

Competitiveness is defined as the set of institutions, policies and factors that determine the level of productivity of a country. The level of productivity, in turn, sets the level of prosperity that can be reached by an economy. The productivity level also determines the rates of return obtained by investments in an economy, which in turn are the fundamental drivers of its growth rates. In other words, a more competitive economy is one that is likely to grow faster over time (Schwab & Sala-i-Martin, 2014).

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