Monday , December 23 2024
Home / SNB News / 2018-05-30 – Speech – Thomas Jordan, Chairman of the Governing Board of the Swiss National Bank: Innovation and entrepreneurship: Key success factors in a changing business environment

2018-05-30 – Speech – Thomas Jordan, Chairman of the Governing Board of the Swiss National Bank: Innovation and entrepreneurship: Key success factors in a changing business environment

Summary:
Innovation and entrepreneurship: Key success factors in a changing business environment Thomas Jordan, Chairman of the Governing Board of the Swiss National Bank Award ceremony 2018, De Vigier Foundation, Solothurn, 30.05.2018 Complete text in German: "Innovation und Unternehmertum: Erfolgsfaktoren in einer Wirtschaftswelt im Wandel" PDF (411 KB) For many decades, Switzerland has been among the world's most successful economies. If it is to maintain this position in future, openness to new technology will be essential. In addition to taking over technologies created

Topics:
Swiss National Bank considers the following as important:

This could be interesting, too:

Swiss National Bank writes New on the website 1970-01-01 01:00:00

Dirk Niepelt writes “Report by the Parliamentary Investigation Committee on the Conduct of the Authorities in the Context of the Emergency Takeover of Credit Suisse”

Investec writes Federal parliament approves abolition of imputed rent

investrends.ch writes Novo Nordisk Studie bringt Absturz

Innovation and entrepreneurship: Key success factors in a changing business environment

Award ceremony 2018, De Vigier Foundation, Solothurn, 30.05.2018

  • Complete text in German: "Innovation und Unternehmertum: Erfolgsfaktoren in einer Wirtschaftswelt im Wandel"
    PDF (411 KB)

For many decades, Switzerland has been among the world's most successful economies. If it is to maintain this position in future, openness to new technology will be essential. In addition to taking over technologies created elsewhere, Switzerland will need to ensure that domestic companies are able to develop their own market-ready innovations.

Various factors can facilitate success on this front, whether in established companies or start-ups. Above-average operating conditions - including low bureaucratic hurdles for the set-up and day-to-day running of companies, reliable patent law and ready access to financing, for example - are crucial. Another important parameter is open market access, not least for foreign competitors; barriers to entry for new firms are extremely harmful to economic wellbeing.

The education system is also a significant determinant of a country's innovative potential. Switzerland invests heavily in high-quality education, both at university level and in the form of specialist vocational training schemes, which helps explain its status as a global leader in research and development.

And finally, it is vital to promote a culture of entrepreneurship. The will to pursue a given business activity and succeed is critical if promising ideas are ultimately to evolve into marketable products or processes. Switzerland cannot be truly ambitious without ambitious entrepreneurs, and surveys suggest that the country still has room for improvement here. Against this backdrop, steps should be taken to cultivate innovative drive and entrepreneurial thinking early on, for instance by encouraging high school students to do projects in which they found their own small companies. Various universities already run programmes designed to assist young researchers in bringing innovative products and services to market. Private initiatives also play a significant role in nurturing entrepreneurship in Switzerland, helping young people learn how to transform an idea into an innovation and operate a business.

Swiss National Bank
The Swiss National Bank conducts the country’s monetary policy as an independent central bank. It is obliged by the Constitution and by statute to act in accordance with the interests of the country as a whole. Its primary goal is to ensure price stability, while taking due account of economic developments. In so doing, it creates an appropriate environment for economic growth.

Leave a Reply

Your email address will not be published. Required fields are marked *