Innovate & InspireTeam Name: Dig this…
Team Leader: Gayathri Kamarajan (Anna University, India)
Team Members: Prashanth Prakash (Anna University, India)
Selected EE : Slovenia
Country
EASTERN EUROPE(EE)
After analyzing the Macro Economic condition things were clear.
With the increase in ICT and globalization, the only issue we and
the future are going to face is a sustainable living.
What`s there in EE?
People: The workforce here is well educated and more productive.
They are ambitious and fluent in foreign languages.
Technology: A lot of people think that Eastern Europe has less
technological advancements. However, these countries
are technically advanced when compared to West
Serving as a host for an attractive market of the future, Eastern Europe will have successful organizations in the years to come
WHY SLOVENIA?
High Purchasing Power (About 90% of EU average)
An excellent geographical position serving as a gateway to South East
Europe.
Hydroelectricity (Slovenia has one of the richest water resources in Europe)
and Nuclear energy are its powerful assets
The first country to undergo a transition from borrower status to a donor
status in 2007
Most of the revenue generated are from offering services and Tourism
No (or) Less
Local Clients
Bureaucracy
Issues
Low Labor
Freedom
Uneven Structural
reforms
Brain Drain
Less
Competition
Less Financial
Freedom
Productivity Gap
Less Investment
in R & D
PROBLEMS OF SLOVENIA (EE)
High Drop-out rate
(almost 15%)
These Highlights are from various online sources where we studied
about Slovenian economic Condition
“The banking system remains fragile despite the second recapitalization of the largest bank in June,” the European Commission
According to Dr Aljaž Ule, assistant professor at the Faculty of Economics and Econometrics at the University of Amsterdam and the Faculty of Mathematics, Science and Information Technology at the University of Primorska. The problem has a lot to do with 'brain return'.
The Bank of Slovenia uses the threat of fines to force its foreign scholarship holders to return. Getting experienced Slovenians to return to Slovenia or at least collaborate with Slovenia is something that needs to be motivated, not compelled.'
With no minimum capital required, launching a business takes only six days, but it still takes almost 200 days to complete all of the necessary licensing requirements.
Economic expert Ales Ahčan pointed out the lack of structural reforms (pension, health, tax), resulting in Slovenia, in his opinion uncompetitive.
Economist Joze Damjan expressed that the fall in GDP by expecting somewhat surprising as it seems "dramatic scale of the decline in economic activity." This is lower by 2.8 percent, resulting in a negative year.
"As long as we levy a superior best draft horse, we will lose these towing horse and even more behind the majority"
Expenditure on R&D as % of GDP: 2,1 (2010)Gross expenditures on R&D (GERD) (mio EUR) 746 (2010)Number of research organizations: 630 (2010)R&D personnel in head count: 17.972 (2010)Researchers in FTE: 7,7703 (2010)Researchers (FTE) per 1000 persons in employment: 9.4 (2010)Source: Statistical Office of the RS (Slovenia in Figures publications)
The above graph shows the comparison of the Investment freedom of UK (Blue) Vs China (Green) and Slovenia (Red) The black dots represent the world average
Src: http://www.heritage.org/index/country/slovenia
Vision for Future Slovenia
As the title of the vision says Innovate and Inspire, the slovenian economy has to
find new innovation methods in order to sustain in the future.
Innovation can happen anywhere at any time and can be done by anybody. All
they need is a little inspiration and focus.
Companies have now started to focus on managing energy efficiently and
creating sustainable solutions.
In a data driven era, emerging technologies such as green engineering and
Biomimicry are expected to pave way for a sustainable future.
Its easier to fight for a principle than to live up to them – Alfred Adler
Image Src: www.therightplanet.com
Instead of fighting for a
sustainable future, we must have
to take a step forward for
executing them
With the help from Local people
and co-operation from
professionals, an innovative idea
can turn into a successful
Business organization
The organization that helps in
innovation must also inspire
people to apply it.
Future Slovenia
A lot of online courses that are available must be used effectively. Educate
yourself in the field you wish and come up with innovative ideas and inspire others
to do so
Form a local group and brainstorm ideas for creating a successful organization
The group has to meet regularly and come up with ideas which are feasible to
implement
Better Future
Local development Better Communication
methodsSustainable Solutions