The Lisbon Strategy after the mid-term review: implications for innovation and life-long learning

ISSN： 1472-0701

Source： Corporate Governance: The Int J of Effective Board Performance, Vol.6, Iss.4, 2006-08, pp. : 349-357

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Abstract

Purpose - This paper aims to investigate the interaction between the sustainability of the European social model and the European Union's revised Lisbon Strategy and its focus on jobs and growth. The success of this strategy - following its five-year mid-term review in 2005 - depends on attempts to renew European competitiveness through, for example, innovation and life-long learning and well-designed reforms of the European social model. Design/methodology/approach - The paper reviews the evolution of the Lisbon Strategy and sets out the broader context for European policy on competitiveness. It provides the backdrop for discussions linking competitiveness to corporate responsibility. Findings - The sustainability of the European social model depends on the success of the overall strategy for growth and jobs, in which innovation and life-long learning are key. The concrete solutions to achieve a successful combination of those factors in each member state need to be found by countries themselves. That is why the preparation and implementation of Europe-wide National Reform Programmes for growth and jobs opens an opportunity to drive competitiveness which should not be missed. Practical implications - The paper addresses issues relevant for sustainable development, Europe's innovation potential and competitiveness and could open new areas for research. There is a need for a more forward-looking approach to European citizens' aspirations that focuses on: sustaining their living conditions in a global economy; making Europe a stronger player in improving global governance; and creating a more democratic and effective political system. Originality/value - The paper provides a new approach to renewing European competitiveness by fully exploiting the potential of Europe's own single and external market, as well sound macro-economic management of its growth potential.