Technology and International Competitiveness 1993 Arthur Andersen Lecture, University of Cambridge

Business strategy is driven by the trend to global markets, by the growing strength of the NICs and by technology, which overturns old competitive advantages and enables new ones. To gain advantage, technology must be combined with a sharp understanding of customer needs. Three examples of this are in NC machine tools (Fanuc), red meat improvement (Sainsbury) and running shoe design and production (Nike). Innovation depends on people. There is a role for Government in broadening education. The main job of industry is to combine technical and market knowledge in the same individuals. That combination is more important than all the analytical skills of the traditional MBA.