The results of a quarterly survey of business professionals released today suggest that China and India are likely to gain significant market share from the US in the information technology, automotive and Internet sectors.
The survey, conducted in October 2005 by IMD MBA, Fast Company magazine and Egon Zehnder International, includes responses of 1,962 business professionals in the US and abroad who were asked online quantitative and qualitative questions about the relationship between innovation and business performance.
The vast majority of survey respondents (81.1%) believe the US needs to develop policies to increase its number of graduates in engineering and science to maintain its innovative competitive edge against other countries.
In addition, more survey respondents agreed (46.6%) than disagreed (27.5%) or held a neutral view (25.9%) that MBA students should pursue jobs in China, India or other fast-emerging markets to advance their creative and innovative talents.
Most agreed (74.5%) that in today's global market innovation can and should happen anywhere in the world and that US companies should worry less about international rivalry and focus more on where to get things done (74.5%).
"Respondents identify increasing competition from China and India but support the importance of gaining experience and doing business in those markets," said Professor Sean Meehan, IMD MBA Program Director.