Discussion Question on country competitiveness

Country competitiveness Is determined by a multitude of factors that ‘measures and compares the effectiveness of countries In providing firms with an environment that sustains the domestic and International competitiveness of those firms’ (Sheehan & Lou: Chi. 5, p. 130). How a countries excel In bringing firms to contribute to the country competitiveness is the result of many factor that are evaluated yearly by the Forum in order to rank almost every country. The report is called Global Competitiveness Index, although it offers over 500 pages; the content is laid out in an orderly fashion and easy to follow.
Let’s have a look at how these factors/ determinants influence over FAD strategy. Country-Level, Industry-Level, Firm-Level, Individual-Level Factor-driven economies (Institutions, Infrastructure, Macroeconomic environment, Health and primary education) The level of competitiveness contributing to the country success can be well due to Its Institutional competitiveness; the competitive advantages that firms create In result of their operation wealth a specific circle of institutions is the driving capability to succeed in a socioeconomic context.
Foreign firms will likely invest more where they know there is a good management of legal, lattice and economic institutions to protect their rights and property. Mature infrastructures facilitate connectivity, thus lessening the distance between territories. Strong network infrastructures interconnected with national market encourage economic development. Transport, communication and telecommunication infrastructure system is what allow entrepreneurs to do their business, quick stream of information increases global economic productivity by allowing businesses to interact and make decisions.Macroeconomic factor alone, even though stable does not Increase the country’s competitiveness but a macroeconomic disorder can actively affect the economy. Workers need to be able to rely on good health services to avoid unnecessary absenteeism. Good health has proven to enable workers to better function. Also, workers who are educated increase their efficiencies at work but are limited to more manual jobs than one where a more elaborate process is involved.
Thus, a lack of basic education can also limit the growth off firm’s capacity to develop. (Sheehan & Lou, up. 139) Mentioned that countries cannot be competitive on every level. Some of the week area can be mitigated through trade agreement. Paraguay is a known to experience frequent power shortages at peek hour. That may cause a MEN to choose to locate in another country if their productions demand usage of electricity.
Efficiency-driven economies (Higher education and training, Goods market efficiency, Labor market efficiency, Financial market development, Technological readiness, Market size) Well-educated and continuous training is fundamental to firm who want attractive for a firm that evolves in the market technology and is always on a learning path to react and adapt to the fast pace IT progresses. To be better positioned in the racket, government with a well balanced set of market rules that does not restrict business productivity, but instead encourages foreign MEN to locate in the country.
Per instance, restringing rules and heavy administrative paperwork causes delay that can result in missing out opportunities. In finance, there are always uncertainties, but putting all these factors together can provide a fair level of competitiveness. Not mentioned here though is the impediment of the financial economy when dealing with tax rate, interest rate, deficit and public debt in general also depend on how government manages its public accounts. An example would be a decrease in the FAD inflow in the U.
S last year compared to the previous ones. Many factors that caused this decreased percentage of foreign investment are explained by Jackson,J. K. (2013) in a report prepared for committee member of Congress. Innovation-driven (Business sophistication, Innovation) In order to succeed in that factor, support from private and public sector is essential. For example, program subvention in R& D is often what create a breakthrough in many sectors. Developing countries don’t often have the knowledge and the people like scientist to run that program.
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