Competitiveness

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Competitiveness

Competitiveness and International Trade Economy

In relation to international trade economy, Christopher Mark (1993) provided the following definition of Competitiveness: The ability of a nation or firm to sell competitive goods or services in international trade. Several aspects of competitiveness are involved in shaping international trade patterns, and can be categorized as:

* Price Competitiveness –determined by the interaction of four factors leading to competitive prices on world markets: real input costs (material prices, wage rates, and the cost of capital); productivity; profit margins; and the exchange rate. Most firms have some control over the first three factors but have no control over the exchange rate. Government monetary and fiscal policies may directly or indirectly affect the first and fourth factors, while industrial targeting seeks to influence the second and third. Changes in competitive factors do not always occur in unison; shifts in one of the factors can be offset by movements in the opposite direction by another factor .

* Technological Competitiveness –representing the ability to provide leading-edge technical capabilities, superior performance characteristics, fuel economy, or reliability. Technological competitiveness can sometimes be more important than price competitiveness in international trade, particularly in advanced-technology industries such as telecommunications equipment and aerospace.

* Commercial Competitiveness –reflecting the vigor, creativity, and effectiveness of firms’ entrepreneurial activities, including marketing and distribution and the provision of associated services that increase buyer value.

Apart from such fundamental aspects of competitiveness, firms and governments sometimes try to manipulate competitive outcomes by engaging in competitive policies and practices, or in unfair trade practices ( Sec .I ). See also competitive performance and terms of trade .

Hierarchical Display of Competitiveness

Business And Competition > Business organisation > Business policy
Industry > Industrial structures and policy > Industrial policy > EU industrial policy > European industrial area
Trade > Consumption > Consumer > Consumer protection > Product quality
Production, Technology And Research > Technology and technical regulations > Technology > Benchmarking
Finance > Prices > Prices
Business And Competition > Competition > Competition policy > Competition
Business And Competition > Accounting > Management accounting > Cost analysis > Cost-effectiveness analysis > Profitability

Competitiveness

Concept of Competitiveness

See the dictionary definition of Competitiveness.

Characteristics of Competitiveness

Resources

Translation of Competitiveness

Thesaurus of Competitiveness

Business And Competition > Business organisation > Business policy > Competitiveness
Industry > Industrial structures and policy > Industrial policy > EU industrial policy > European industrial area > Competitiveness
Trade > Consumption > Consumer > Consumer protection > Product quality > Competitiveness
Production, Technology And Research > Technology and technical regulations > Technology > Benchmarking > Competitiveness
Finance > Prices > Prices > Competitiveness
Business And Competition > Competition > Competition policy > Competition > Competitiveness
Business And Competition > Accounting > Management accounting > Cost analysis > Cost-effectiveness analysis > Profitability > Competitiveness

See also

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