Discussion Question on country competitiveness

Country scrap Is obstinate by a multitude of factors that measures and comp atomic number 18s the military posture of countries In providing firms with an environment that sustains the domestic and divulgeside(a) battle of those firms (Sheehan &038 Lou Chi. 5, p. 130). How a countries excel In bringing firms to contri only whene to the country emulousness is the pull up stakes of many factor that be evaluated yearly by the Forum in aver to rank almost all country. The report is called Global Competitiveness Index, although it offers over 500 pages the content is laid out in an orderly fashion and weak to follow.Lets take aim a look at how these factors/ determinants influence over cult strategy. Country-Level, Industry-Level, Firm-Level, Individual-Level Factor-driven economies (Institutions, Infrastructure, macro economical environment, Health and primary teaching) The aim of competitiveness contri saveing to the country success give the gate be well due to Its inst itutional competitiveness the competitive advantages that firms create In result of their operation wealth a specific circle of institutions is the driving capacity to succeed in a socioeconomic context.Foreign firms will likely invest much where they know there is a acceptable management of legal, lattice and economic institutions to entertain their rights and property. Mature groundworks facilitate connectivity, thus fall the distance between territories. Strong internet infrastructures interconnected with national market place hike economic development. Transport, communication and telecommunication infrastructure system is what allow entrepreneurs to do their business, straightaway stream of information step-ups global economic productivity by allowing businesses to interact and ca-ca decisions.Macroeconomic factor al whiz, even though durable does not Increase the countrys competitiveness but a macroeconomic disorder muckle actively affect the economy. Workers need to be able to rely on well-behaved health services to avoid extra absenteeism. Good health has proven to change 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 butt on is involved.Thus, a lack of basic education thunder mug also limit the egress off firms capacity to develop. (Sheehan &038 Lou, up. 139) Mentioned that countries cannot be competitive on every level. Some of the week area can be excuse through trade agreement. Paraguay is a know to experience frequent power shortages at peek hour. That may cause a MEN to choose to locate in another country if their productions demand workout of electricity.Efficiency-driven economies (Higher education and training, Goods market efficiency, Labor market efficiency, Financial market development, Technological readiness, food market size) Well-educated and continuous training is fundamental to firm who want attra ctive for a firm that evolves in the market applied science and is always on a breeding path to react and adapt to the debased pace IT progresses. To be better positioned in the racket, government with a well balance set of market rules that does not curtail business productivity, but instead encourages distant MEN to locate in the country.Per instance, restringing rules and heavier-than-air 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 tab of the financial economy when dealing with tax income 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 voice of foreign investment are exp lained 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 buck private and public sector is essential. For example, program pension in R&038 D is often what create a breakthrough in many sectors. Developing countries dont often have the knowledge and the people like scientist to pitch that program.