Posted by meb at October 19th, 2009
The Turkish economy has registered superb improvement in competitiveness in recent years and proven its potential as a magnet for international investors, world-renowned strategist Professor Michael Porter has said. Addressing a group of businessmen and reporters on Saturday at a conference organized by Ä°ÅŸTcell, a Turkcell brand directed at corporate customers, Porter, director of Harvard Business School’s Institute for Strategy and Competitiveness, said that if Turkey were traded on the stock market, he would definitely make an equity investment in the country.
During the first part of his speech, Porter described the major premises of creating strategies and determining and developing a competitive approach and the role of leaders in the competitiveness of a company. He also shared his views on possible strategies that may be adopted during times of economic crisis. He devoted the second part of his speech to discussing Turkey’s economic strategies, including an in-depth analysis of the business world’s role in these strategies.
Porter later announced the results of a study conducted by the Harvard Business School and Turkcell on Turkey’s competitiveness in the global economy. The study found that the Turkish economy has competitive advantages such as a vast labor force, a high level of entrepreneurship, a rich and dynamic internal market, vast land and a favorable geographic location. Easy access to a range of global markets and better established institutions compared to other emerging economies are two other assets that give Turkey an edge, Porter noted.
He proposed that the Turkish private sector take the initiative in establishing national and regional competition councils. This will help the formation of a consensus on the economic strategy of the country as a whole, he argued. Porter also advised supporting efforts to create industrial clusters in different regions since the Turkish economy is already prone to organizing into such clusters. Porter also encouraged developing more sound coordination in economic relations with neighboring countries to fully exploit the potential that Turkey’s geographic location provides.
source: Today’s Zaman