A research was conducted by ABE UK (Association of Business Executives) into the views of 23,410 of its students in 52 countries around the world. The results show a surprising optimism among business students, despite the global economic malaise.

51% of business students believe the best business approach in this economy is to focus on being qualitatively superior to competitors. Despite a popular consensus that cheaper is better in a downturn, only 13% of business students think that being cheaper than competitors is the best strategy for success in the current economic climate..
Although the world looks to emerging economies for low priced goods and services, the results of the research shows recognition amongst business students in these markets of the importance of delivering quality. 54% of those in AFRICA believe it is more important to deliver quality than cheap products and services, while business students in Asia were split between wanting to offer mid-range products and services and those of better quality, at 42% and 43% respectively.

ABE added a comment: “The results from students in AFRICA may be surprising to some. Developed economies usually look to developing economies to deliver products at a cheaper price. The result shows a high level of optimism, ambition and aspiration in ABE’s African business students and suggests a realisation that merely competing on cost is unsustainable in both the short and long term”
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