7 December 2017

News

From magpie to ostrich

Increasing business take-up of proven ideas and technologies

From magpie to ostrich

What can business learn from magpies? This may seem like an odd question, but the CBI’s latest research finds that the UK needs more companies being proud “Magpies”, picking up the innovations that other businesses have tested and proven, and fewer behaving like “Ostriches”, sticking with what they know.

Building a successful business is not always about the next big thing in technology. If we are to truly get to grips with tackling inequality and our deep-seated low productivity in the UK, then we need more businesses adopting the proven technologies and business practices of today. Investing now in cloud, mobile and cyber security, for example, paves the way for a bright future of investment in ground-breaking technologies like AI.

Moreover, the UK needs more companies to embrace visionary management and leadership. UK businesses tend towards more risk-averse management mindsets, taking away a company’s edge in making the best investments and making the most of them.

We have seen some positive steps taken in the Industrial Strategy to make this a national priority, crucial to moving the needle on the UK’s sluggish productivity growth and tackling inequality. With the Brexit countdown well under way, the time for action has never been more important.

For more information, please contact Patrick.Day@cbi.org.uk.