May 22nd, 2007
This is from an interview of Robert Reich on the WSJ Career Journal site:
Nowadays, any competitor can get access to the same information technology, the same suppliers, the same distribution channels, and often the same proprietary technology. The only unique asset that a business has for gaining a sustained competitive advantage over rivals is its workforce — the skills and dedication of its employees. There is no other sustainable competitive advantage in the modern, hightech, global economy. Barriers to entry are dropping like mad, so the quality of your workforce in terms of innovation and customer relations is basically all there is.
It seems to me that this is a critical issue that business leaders, political leaders and policy makers still do not get.