Dynamic management training should be offered through the new Industry Growth Program to help raise the global competitiveness of local small businesses, according to the Committee for Economic Development Australia.
The policy proposal is contained in a report on ‘boosting dynamism’, authored by Committee for Economic Development Australia (CEDA) senior economist Melissa Wilson, that encourages the federal government to build “dynamic capabilities within Australian businesses”.
Dynamic management training would help businesses maximise long-run success “in environments that are highly volatile, uncertain, complex and ambiguous”. A survey on dynamic capabilities completed by CEDA last year found that the most dynamic firms had higher productivity and net profits.
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