16 technology
Should UK businesses use BRICs to build international trade . . . or just settle down with after dinner MINTs?
It was questions like these that came to the fore when Grant Thornton took an informed but light-hearted look at economic facts and geographical options relevant for a technology company aiming to expand its international business, writes John Burbedge
During an innovative dinner-quiz at the Hilton Hotel, Reading more than 120 members of the Thames Valley technology community discovered, among other intriguing matters, a country that spends more than three times as much on R&D as the UK. And, what Scandinavians may get up to on cold dark evenings. And perhaps, why more UK business is not done with Russia.
The novel dinner-quiz evening was arranged by Grant Thornton’s technology sector leads – Wendy Hart (head of technology, Thames Valley), Mark Bishop (associate director, technology) and Nick Watson (UK head of technology) – following research on mid-sized businesses (MSBs) provided by Grant Thornton’s Agents for Growth business report, published earlier this year.
One fact from the report stood out: ‘Only 20% of UK MSBs have international expansion plans.’ It prompted the obvious question: Why? – and led to 10 Grant Thornton questions being posed to the invited diners.
Correct answers on the night were alarmingly scarce – there was one question that none of the 13 team-tables got right – with the winning team gaining only four out of 10 points.
With such an apparent lack of accurate knowledge and awareness, the evening suggested the overall question: “Should technology businesses be seeking more help and advice about international trading?”
Either way, here’s the chance to rate your international awareness. Below, on this page, we have published all the quiz questions from the Grant Thornton evening hosted by respected BBC business and economics affairs reporter Jonty Bloom.
All the answers are on the facing page, so don’t cheat, just cover them up and see how you get on.
Hosting the tech quiz dinner were, from left, Wendy Hart, Jonty Bloom, Mark Bishop and Nick Watson
Question 1 Which country has the largest domestic market? Calculated as GDP plus imports, less exports? Options: India, USA, Japan, Germany, China
Question 2 What country has the highest gross research and development expenditure as a percentage of its GDP? Options: Finland, Germany, USA, South Korea, France
Question 3 Which national patent office received the highest absolute number of patent applications during 2012? Options: South Korea, USA, European Patent Office, Mexico, China
Question 4
Which country do most immigrant inventors migrate to (ie inventors who file patent applications who were not born in the country they reside in, mostly end up in which country)? Options: Germany, Switzerland, USA, UK, Brazil
Question 5
What country, excluding the UK, has yielded the highest number of targets for completed acquisitions by US companies over the past five years? Options: China, Brazil, India, Canada, Germany
Question 6
The World Economic Forum's 2013 annual report on global competitiveness ranked which country as number one for ‘innovation and sophistication’ (deemed to be key for innovation-driven economies)? Options: Singapore, US, Germany, Switzerland, Iceland
Question 7 In which country does the highest percentage of the population use the Internet? Options: UK, Singapore, Finland, Iceland, Hong Kong
Question 8 How many of the world's top 200 universities are in the BRICS and MINT Countries? Options: 1, 5, 8, 17, 21
Question 9
According to the Hofstede Cultural Survey, which of the BRICS and MINT countries is the most culturally different to the UK? Options: China, Indonesia, Turkey, Nigeria, Russia
Question 10 Which country in thses groups has the highest corporation tax rate? Options: USA and Canada, BRICS, MINT, Europe
www.businessmag.co.uk THE BUSINESS MAGAZINE – THAMES VALLEY – DECEMBER14/JANUARY15
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