The U.S. manufacturing sector accounts for nearly $2.3 trillion of GDP, which is a significant number, considering that it further drives 20% of the nation’s capital investment, 30% of productivity growth, and 70% of business R&D.
In an episode of the Future of America podcast, McKinsey’s manufacturing thought leaders Andre and Eric discuss how business leaders can harness innovation to revitalize the manufacturing sector and drive inclusive economic growth.
Here’s how:
– Developing new and improved products that meet customer needs and desires.
– Improving the manufacturing process, e.g., investing in new and more efficient technologies.
– Providing training and career development opportunities for workers.
– Creating an innovation-conducive environment, e.g., investing in R&D, encouraging entrepreneurship, and providing incentives for companies to innovate.
As a manufacturing leader, what are you doing to build a sustainable and inclusive future for Americans?