U.S. business leaders and Americans alike are confronting significant geo-economic challenges. And, these challenges come with the task of marrying immediate pressures with long-term strategic ambitions, prompting 91% of business leaders to advocate for a concerted effort to bolster U.S. competitiveness in the global market, according to a new Milken Institute-Harris Poll report.
"U.S. business leaders are optimistic about business strength, but for many Americans, the economic recovery is a reality yet to be experienced at home,” says Harris Poll CEO John Gerzema. “What everyone can agree on is the importance of building a resilient, crisis-prepared society, underscoring a collective commitment to societal progress."
Key takeaways:
- The research indicates a consensus for optimism and collective effort that transcends political boundaries. It uncovers a widespread desire for optimism and unity across the United States, cutting through political divides with Americans calling for long-term leaders and forward-thinking approaches.
- Additionally, business leaders across various sectors share positive outlooks, believing that their businesses are strong and that American competitiveness can be fortified through local investment, cross-sector cooperation, and a commitment to sustainable practices.
- Most business leaders believe the U.S. economy (81%), their respective industries (81%), and their own companies (81%) are strong. In contrast, only (40%) of Americans concur that the economy is strong. And (72%) of Americans agree that “economists may say things are getting better, but we’re not feeling it where I live.”
- 89% of business leaders concur that “it is important that America is able to create resilient policies and solutions to navigate disruptions.” Likewise, (86%) of Americans say, “I want a more resilient America that leads the word in its capacity to navigate and handle crises.” Nearly 8 in 10 Americans believe securing America’s global leadership position in the next four years will tangibly improve their communities (79%), their job security (78%), their life overall (78%), as well as the U.S. overall (78%).
- There's a shared conviction amongst business leaders that place-based innovation can rebuild institutional trust (91%), create new manufacturing systems (90%), and rebuild political trust (88%). Americans echo this sentiment, agreeing that “business leaders should work more closely with government leaders to solve our social challenges” (76%). And what’s interesting is perhaps this innovation is already happening, as (71%) of Americans say, “innovation is bubbling up in local communities, but national media is missing this story.”
“These findings validate what we see as an emerging, consensus for solving our biggest challenges through cross-sectoral and bottom-up solutions,” says Dan Carol, leader of Milken Institute’s climate finance practice and geo-economics programs. “Working with business leaders, governments, and frontline community leaders in this way will help us bolster U.S. competitiveness and local economic resilience.”
“Today’s New Normal is defined by multi-trillion-dollar global disruptions — from pandemics to geo-political shocks, to artificial intelligence — that are reshaping business models and investment strategies from top to bottom,” adds Karen Kornbluh, senior advisor on geo-economics for the Milken Institute. “The next generation of solutions and opportunities will be anchored by locally-led innovation and new, outcomes-based, public-private partnerships.”
