New economies built on culture of innovation, says Spanish professor

Visakhapatnam: The economic profile of the new global economy has been driven by technology, fuelled by innovation and entrepreneurial initiative, and is based on new ideas, new perspectives and new business strategies particularly built on culture of innovation, observed by IQS School of Management (Spain) Dean Dr Carlas Moslares here on Thursday at GITAM Deemed to be University. He participated as Chief Guest to deliver a distinguished lecture on "Globalisation and current Business Trends" organised by GITAM School of Management.

He said that the pace of innovation is increasing as many new companies develop new products and improved versions of traditional items. Western companies no longer can expect to be automatically at the forefront of technical development, and this trend will intensify as more businesses in developing countries acquire the expertise to innovate successfully, he added. Further he pointed that the effective integration of state-of-the-art technologies in the domain of information and communications in order to enhance competitive advantage in the forum of international trade.

He said that the free flow of capital, skilled manpower, goods and services within free trade regions, the development of new financial instruments like venture capitalists, angel investors and microfinance have created new business opportunities

He said that the free flow of capital, skilled manpower, goods and services within free trade regions, the development of new financial instruments like venture capitalist, angel investors and instantaneous access to information and communication through the new digital networks, have created a fully integrated global economic system of tremendous scope and opportunity. He mentioned that the rapid urbanisation in Asia and Africa will bring new business opportunities in coming years.

GITAM President M.Sribharath felicitated Dr Carlas Moslares and expressed to join hand with IQS School of Management to build academic relations. GITAM Deemed to be University Vice-Chancellor Prof K Sivaramakrishna, Registrar Prof.KVGD Balaji, GITAM Institute of Management Director Prof Y Gowtham Rao, GITAM International Student Affairs Director KPKishan and others participated in the meeting.