Global Business and Competitiveness

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Introduction

The dynamics of the business environment has continued to complicate the way business is conducted through out the world, in terms of its competitiveness in differentiating countries economic growth. Mok (2006) observes that because the phenomenon of globalization has been extensively used in the world, specifically in admired discourses and policy issues, it describes ways in which the world is progressively more interrelated, organized, competing and interdependent through a set of socially reinforced processes. For instance, he notes that the global infrastructure which is technology based, developed as a knowledge base economy, increases and is a measure of competiveness (Mok 2006). Competitiveness, is according to him should be measured in Porter’s summery of processes including among others, integration of markets, nation states and technologies to a scale that is aiding individuals, corporations and distinct governments to access and ‘navigate’ the world much more, rapidly, deeper and by less costly methodologies (Mok 2006)

Review of Countries Competitive Ranking

On the whole the competiveness index does not necessarily represent the reality on the ground. Gray (2008) argues that it lacks both empirical and theoretical cut-and-dried approaches. On the other hand and to a great degree, the World Index Scoreboard is to a great extent on point and accurate. The industrialized countries listed as toping the indexing cannot be ignored (Gray 2008). This is because a country’s prosperity predominantly depends on growth in productivity often influenced by government policy intervention programs which largely define other measures outlined in Porter’s factors on evaluating and ranking a country’s competitiveness. The choosing by countries for higher living standards for the citizenry is an indicator of competitiveness and the desire to compete. Moreover, the World Competitiveness Indices seem to be in concurrence with the reality depicting most European Union Countries trailing countries like Japan and the United States, and showing that of the G-7 countries, Italy is at the bottom of the competitiveness. In summary, while the competitiveness indices are still imperfect and that their methodologies should be further worked on, they give very realistic figures as far as country ranking is concerned (Harrison et al. 2008)

Harrison et al. (2008) reckons that the World Competitiveness Scoreboard evaluates competiveness of different countries in an arguably reliable way because it also includes factors such as executive opinion from various people holding managerial positions in international and domestic firms and corporations across the world. Indeed, even expert opinion indicates that the six Latin American States (Brazil, Argentina, Chile, Mexico, Venezuela, and Colombia) represent the most and significant component of the most competitive countries in the larger Latin America region. They capture not only most of the richest countries, but also most populous and largest countries (Harrison et al.2008).

Overall, the World Competiveness Scoreboard takes into a count most of competitive factors explored by Porter. These include broad measurement of a country’s domestic macro-economic strength, the degree to which a country participates in global trade and flow of investment as well as the nature of capital markets in terms of performance.Others includes the degree of managing businesses while taking care of innovation and profitability as well as government policy-programs conduciveness to promote competitiveness. Moreover, issues like human resources in terms of quality and availability as well as empirical assessment of technological capacity and research are also considered (Tempeir 2011). According to Tempier (2011), all these take into account inter-linkage of trade aided in two ways: universal financial links and information, both of which are tailored connections made possible due to hunger for trade.

Evaluation Based on Personal Consumer Experience

Based on my consumer experiences, I do not think the ranking is missing out on any country. Most countries that we would have ‘loved’ to be on top like China are probably not there due to a number of factors. As Porter notes, a country does not become more internationally competitive based on one factor or a few alone. Instead, to be competitive, there is of a need of mutually reinforcing systems and balancing of determining factors. For this reason, Latin American, Asian and African countries, should endeavor to support and work on other factors including research and development, skilled personnel and technological advancement.

Further, educational curriculum that emphasizes international languages such as English, have been emphasized by most governments and other countries are only catching up (Mok 2006). Besides various Multinational companies influence many countries to increasingly get ‘’locked into a cutthroat competitive bidding process’’ for investments. These processes give such companies the opening to ‘’play off one bidder’ in opposition to another and countries which do not conform are edged out in trade competition and therefore growth. Examples of such policies would be that they require education in those countries to be reorganized down the market angling of their investment, with policies more tweaked to promote a better design of human resource team to meet up their labor requirements (Gray 2008).

Other Factors that Capture World Competiveness Today: The Extent to Which International Security at the Ports are Addressed and Managed: Focus on the Supply Chain

International security at the ports particularly in respect of supply chain is important in measuring countries competitiveness. Tempeir (2011) exposes the meaning of supply chain in this context as the international principles of practice which facilitate administration and management of customs and their partners in order to enhance security of the ‘global trade supply chain’ while at the same time ensuring that lawful goods go through. He agrees that effective facilitation of trade is one of the key contributors to a sound economy and competiveness in the global spectrum. Recognizing that as economic development marries with other demands such job creation, protection of the environment and elimination of poverty, he contends that trade at the ports should be well handled (Tempeir 2011).In a global economy, there has been undying talk about the need to be security complaint at various ports given threats that terrorist posit and portend, and issues such as money laundering, smuggling of items, and organized crime.

All these have meant an increase in security concerns leading to stringent security measures being placed on international goods transit, to curb such menace and to promote effective revenue collection. Thus a country that works on these concerns better seems to edge others in global trade (Tempeir 2011). In fact the dilemma posited by this development led to the World Customs Organization (WCO) initiating its own ‘Framework of Standards to secure and Facilitate Global Trade’’. This development recognized international trade reality in the present times, and took care of such concerns as bringing in a tradition of safer and secured international trade and the WCO unanimously agreed for its adoption in Brussels, in 2005. It is believed that with this development, facilitation of international trade will be smoothly handled (Tempeir 2011).

References

Gray, J 2008, False Dawn: The Delusions of Global Capitalism. New York, British Conservative Intellectual.

Harrison, J, Hokinson, R, Hitt M, Ireland R, 2008, Competing for Advantage (2nd ed., Mason, Ohio, Thomson-Southwester.

Mok, K 2006, Education Reform and Education Policy in Asia Pacific, NewYork, Routledge.

Tempier, L 2010, Security and facilitation of the international trade supply, GFP.

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Global Business and Competitiveness

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