“The competitiveness of a business lies in its ability to innovate and improve itself, Lin Hsin-i, a senior adviser to the president said yesterday in Kaohsiung.

Speaking at a seminar organized by the Ketagelan Institute in Kaohsiung, Lin attributed the current plight of Taiwan businesses – closures and relocations to China – to aweakening of competitiveness.

He said many chief executive officers are reluctant to institute changes or examine their businesses and make needed improvements, because doing so would be a denial of the past. However, these steps are vital for keeping a company viable since there is not a single solution that can cope with the ever-changing market and situations that are liable to shift without notice.”

(Source: E-Taiwan News here.)