Companies need to form collaborative partnerships with, amongst others, suppliers, customers, schools and universities to build networks and clusters of excellence to win competitive advantage. Business must encourage and support all their employees continually to develop their skills and qualifications. But the Government must invest in British capabilities such as science, skills, innovative finance and digital technologies. In the knowledge driven economy, it is more important than ever that they collaborate with other businesses to improve, develop and market products through benchmarking and best practice. However, many businesses do not have the time and resources to collaborate effectively.
Government can help.
Innovation within government Government needs to learn and innovate as much as the private sector and it must create new mechanisms for sharing ideas and best practice. Just as the UK needs more entrepreneurs in business, it needs a new generation of innovation in the public sector. The Government has outlined its commitment to put the future, particularly a knowledge driven future, on the UK's side. Its policies have been shaped by working with and listening to the views of the business community. Government is committed to playing its part in making the UK a world-class place to do business in the next millennium.