Massachusetts Institute of Technology (MIT) faculty member Prof. Dr. Daron Acemoğlu, who attended the Honorary Professorship conferment ceremony organized by OSTİM Technical University, visited OSTİM Organized Industrial Zone after the ceremony.
During his visit, Acemoğlu shared his views and suggestions regarding SMEs, drawing attention to the changing nature of competition in the world and noting that technology should be used to improve quality.
The experienced academic shared the following views:
Global competition is constantly changing because two major trends have already altered, and will continue to alter, its nature. The first is the low costs brought about by China, followed by Vietnam and other Southeast Asian countries. The second is the change brought about by technology. In some areas, SMEs and other companies now have to compete against the productivity brought about by robots. To ensure that this competitiveness improves dynamically, all companies in the country, including SMEs, must place greater emphasis on technology. It is especially important that they use technology in a way that increases the productivity of their workers and improves the quality and characteristics of the goods they sell.
Financing is essential for investing in technology and is also crucial for growth. The flexibility offered by financial institutions is a very important factor here. Different SMEs need different financing systems. For example, when you look at Silicon Valley, you see that their dynamism is particularly dependent on their financial structure. That is, companies need flexible financing from a very young age. Because the system provides this, many companies can grow rapidly. This could also become essential for SMEs.
Prioritizing productivity, quality, and exports has become, and will continue to be, the most important dynamic of Turkish industry. Even though Turkey is a very large country, it's crucial for high-quality companies to view the world as their market.
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