Business leaders from giant companies including Amazon, Siemens, BAE Systems and BT are launching a new campaign to stimulate weak economic growth in the UK productivity by mentoring less productive companies and give recommendations for training and investment.
They are set to issue a rallying cry to other large and high performance companies to do the same in the hope of creating greater prosperity.
Mark Carney will preside over the meeting of the Advisory Board of the group known as to be business leaders, including John Lewis, Charlie Mayfield, Nestle Dame Fiona Kendrick and rolls-Royce, Ian Davis announces commitment to help other companies increase productivity.
The plan is not pure charity, focusing on companies in their supply chains, the group expects to be able to improve the efficiency of suppliers and customers.
“We belong to ecosystem business in the UK, which is insufficiently productive, export is not enough, not enough innovation. If we can be part of a movement that improves all of this, it improves business for us, it improves the volume of the market here in the UK for us; it is not just altruistic,” said Juergen Maier, head of Siemens in the UK.
We belong to ecosystem business in the UK that is not productive enough, not enough exports, lack of innovation… it’s not just altruisticJuergen Maier, head of Siemens in the UK
“At the end of the day it’s about us all pulling together to improve British industry. It’s been ten years now when we say performance is insufficient, and there comes a time when we should start to do something really practical about it.”
Mr. Meyer said that the UK business culture is missing the element of leadership, which is filled in the system MBA in Germany the focus on intensive training and the use of technology. “When you compare the UK with other major industrialized countries, the G7 economies, with a strong performance than we have, evidence points to the skill level and the level of ambition, which takes place in the management of our company,” said Mr. Meyer.
The initiative comes after a review of the performance of Mr. Mayfield found that the UK has a small but important cadre of highly productive enterprises, which the “long tail” of less productive firms were unable to emulate.