Problem:
The World Economic Forum studies global competition and publishes the global competitive index, which is quite intriguing. US as a country has slipped from the top position to the 6th position in the 2007 rankings (WEF, 2007). Japan leads innovation. However, US holds the top rank in the business competitiveness index (BCI). The surprise here is that Japanese also have stringent SOPs.
This statement was presented in my class. Can anyone give some feedback on this? Would more stringent SOP's in US businesses increase innovation and gain its position back?
On the other hand,
It is known that Google excels in innovation and has flexible SOP's.
Which would be the most beneficial to a business?