"authorization": "https://dictionary.cambridge.org/auth/info?rid=READER_ID&url=CANONICAL_URL&ref=DOCUMENT_REFERRER&type=&v1=&v2=&v3=&v4=english&_=RANDOM", "error": true, { bidder: 'pubmatic', params: { publisherId: '158679', adSlot: 'cdo_topslot' }}]}, Jim co-founded tutor2u alongside his twin brother Geoff! Usage explanations of natural written and spoken English, 0 && stateHdr.searchDesk ? addPrebidAdUnits(pbAdUnits); userIds: [{ 'max': 8, dfpSlots['rightslot2'] = googletag.defineSlot('/23202586/cdo_rightslot2', [[300, 250], [120, 600], [160, 600]], 'ad_rightslot2').defineSizeMapping(mapping_rightslot2).setTargeting('sri', '0').setTargeting('vp', 'mid').setTargeting('hp', 'right').addService(googletag.pubads()); 'min': 31, Soft Economic Moat: A type of economic moat (or competitive advantage) that is based on intangible qualities such as exceptional management or a … { bidder: 'onemobile', params: { dcn: '8a969411017171829a5c82bb4deb000b', pos: 'cdo_btmslot_300x250' }}, { bidder: 'ix', params: { siteId: '555365', size: [160, 600] }}, Operating Margin Operating margin is equal to operating income divided by revenue. In this event, the supply and demand relationship is compared to a seesaw because as the one increases, the other one lowers in value. name: "idl_env", In customers’ minds, … bids: [{ bidder: 'rubicon', params: { accountId: '17282', siteId: '162036', zoneId: '776156', position: 'atf' }}, { bidder: 'pubmatic', params: { publisherId: '158679', adSlot: 'cdo_btmslot' }}]}]; It is a profitability ratio measuring revenue after covering operating and. In the case of business competitiveness, we can define it as the ability of organizations to produce goods or services with a favorable quality-price ratio that guarantees good profitability while achieving customer preference over other competitors. name: "identityLink", 'min': 8.50, What was it about that purchase that you feel happy about? if(pl_p) What does Competitiveness mean? bids: [{ bidder: 'rubicon', params: { accountId: '17282', siteId: '162050', zoneId: '776336', position: 'btf' }}, Competitiveness ensures that the company is … • The time you have saved? } storage: { This allows a company to achieve superior margins. A customer’s perception of value is very personal. For the OECD (1992), "competitiveness is the degree to which a nation can, under free trade and fair market conditions, produce goods and services which meet the test of international markets, while simultaneously maintaining and expanding the real income of its people over the long-term." All non-specialist, inexperienced or new teachers of A-Level Business. { bidder: 'criteo', params: { networkId: 7100, publisherSubId: 'cdo_btmslot' }}, Learn more ›. { bidder: 'triplelift', params: { inventoryCode: 'Cambridge_MidArticle' }}, { bidder: 'ix', params: { siteId: '555365', size: [300, 250] }}, Definition of Competitive Strategy As mentioned above, competitive strategy is a long-term action plan of firms so as to gain a competitive advantage over its rivals in the industry. { bidder: 'ix', params: { siteId: '195466', size: [728, 90] }}, { bidder: 'onemobile', params: { dcn: '8a969411017171829a5c82bb4deb000b', pos: 'cdo_topslot_728x90' }}, { bidder: 'ix', params: { siteId: '194852', size: [300, 250] }}, { bidder: 'ix', params: { siteId: '555365', size: [160, 600] }}, Basically, rising competitiveness means rising prosperity. iasLog("criterion : cdo_l = en"); }); {code: 'ad_topslot_b', pubstack: { adUnitName: 'cdo_topslot', adUnitPath: '/23202586/cdo_topslot' }, mediaTypes: { banner: { sizes: [[728, 90]] } }, 'max': 3, Few if any firms enjoy a world in which they have no competition, so in any market there is a battle to succeed. {code: 'ad_topslot_a', pubstack: { adUnitName: 'cdo_topslot', adUnitPath: '/23202586/cdo_topslot' }, mediaTypes: { banner: { sizes: [[300, 50], [320, 50], [320, 100]] } }, bids: [{ bidder: 'rubicon', params: { accountId: '17282', siteId: '162050', zoneId: '776336', position: 'btf' }}, { bidder: 'ix', params: { siteId: '195465', size: [300, 250] }}, dfpSlots['btmslot_a'] = googletag.defineSlot('/23202586/cdo_btmslot', [[300, 250], 'fluid'], 'ad_btmslot_a').defineSizeMapping(mapping_btmslot_a).setTargeting('sri', '0').setTargeting('vp', 'btm').setTargeting('hp', 'center').addService(googletag.pubads()); iasLog("criterion : cdo_ptl = entry-lcp"); Definition of Competitiveness in the Definitions.net dictionary. A consensus has emerged that sound management of health care systems makes a significant contribution to the international, The combined effect will be relatively higher real wages and profits in the sheltered sectors, and a fall in international, Perhaps the most important attribute of a race is its, Perennial weeds are very difficult to control by crop, Globalisation can create new contexts - whether through the development of international markets with new risk patterns or through a reconfiguration of the national, Investigating the precise role of electoral, Such a typology will assist in identifying the institutional arrangements most likely to promote the, In each accompanying parliamentary contest, the winning presidential candidate managed a majority, but the, Impact of structural adjustment and adoption of technology on, This is because with globalization, the emphasis is more on, The report also identifies ten essential elements of manufacturing enterprise leadership and discusses the importance of strategic alignment for successful long-term, The prime concern is sustaining the labour force and, What role can corporations, regulators and non-governmental actors play in reconciling. { bidder: 'triplelift', params: { inventoryCode: 'Cambridge_MidArticle' }}, window.ga=window.ga||function(){(ga.q=ga.q||[]).push(arguments)};ga.l=+new Date; enableSendAllBids: false {code: 'ad_btmslot_a', pubstack: { adUnitName: 'cdo_btmslot', adUnitPath: '/23202586/cdo_btmslot' }, mediaTypes: { banner: { sizes: [[300, 250], [320, 50], [300, 50]] } }, 'buckets': [{ In any battle there are winners and losers – those who win are generally those who are competitive. { bidder: 'criteo', params: { networkId: 7100, publisherSubId: 'cdo_rightslot2' }}, { bidder: 'openx', params: { unit: '539971081', delDomain: 'idm-d.openx.net' }}, { bidder: 'openx', params: { unit: '539971079', delDomain: 'idm-d.openx.net' }}, googletag.pubads().disableInitialLoad(); dfpSlots['topslot_b'] = googletag.defineSlot('/23202586/cdo_topslot', [[728, 90]], 'ad_topslot_b').defineSizeMapping(mapping_topslot_b).setTargeting('sri', '0').setTargeting('vp', 'top').setTargeting('hp', 'center').addService(googletag.pubads()); }, { bidder: 'sovrn', params: { tagid: '387233' }}, { bidder: 'pubmatic', params: { publisherId: '158679', adSlot: 'cdo_topslot' }}]}, { bidder: 'onemobile', params: { dcn: '8a9690ab01717182962182bb50ce0007', pos: 'cdo_btmslot_mobile_flex' }}, { bidder: 'ix', params: { siteId: '555365', size: [300, 250] }}, { bidder: 'triplelift', params: { inventoryCode: 'Cambridge_SR' }}, bids: [{ bidder: 'rubicon', params: { accountId: '17282', siteId: '162036', zoneId: '776160', position: 'atf' }}, ga('set', 'dimension2', "entryex"); var mapping_houseslot_b = googletag.sizeMapping().addSize([963, 0], []).addSize([0, 0], [300, 250]).build(); userSync: { googletag.pubads().setTargeting("cdo_pc", "dictionary"); This sort of competition applies to virtually all businesses and employees. googletag.pubads().setTargeting("cdo_dc", "english"); Click on the arrows to change the translation direction. var mapping_topslot_b = googletag.sizeMapping().addSize([746, 0], [[728, 90]]).addSize([0, 0], []).build(); const customGranularity = { In order for those advantages to work effectively, they need to be sustainable. { bidder: 'criteo', params: { networkId: 7100, publisherSubId: 'cdo_rightslot2' }}, Information and translations of Competitiveness in the most comprehensive dictionary definitions resource on the web. { bidder: 'pubmatic', params: { publisherId: '158679', adSlot: 'cdo_btmslot' }}]}, bids: [{ bidder: 'rubicon', params: { accountId: '17282', siteId: '162036', zoneId: '1666926', position: 'btf' }}, { bidder: 'ix', params: { siteId: '555365', size: [300, 250] }}, { bidder: 'ix', params: { siteId: '195464', size: [300, 600] }}, pbjsCfg = { 'cap': true analysis of the international economic competitiveness of a country or economic region { bidder: 'sovrn', params: { tagid: '446381' }}, { bidder: 'ix', params: { siteId: '555365', size: [120, 600] }}, There are usually three types of competition andthree types of competitors which are as follows; iasLog("exclusion label : resp"); In economics, competition is a scenario where different economic firms are in contention to obtain goods that are limited by varying the elements of the marketing mix: price, product, promotion and place. { bidder: 'onemobile', params: { dcn: '8a969411017171829a5c82bb4deb000b', pos: 'cdo_btmslot_300x250' }}, iasLog("exclusion label : lcp"); { bidder: 'pubmatic', params: { publisherId: '158679', adSlot: 'cdo_rightslot2' }}]}]; { bidder: 'openx', params: { unit: '539971063', delDomain: 'idm-d.openx.net' }}, googletag.pubads().set("page_url", "https://dictionary.cambridge.org/dictionary/english/competitiveness"); {code: 'ad_topslot_b', pubstack: { adUnitName: 'cdo_topslot', adUnitPath: '/23202586/cdo_topslot' }, mediaTypes: { banner: { sizes: [[728, 90]] } }, { bidder: 'pubmatic', params: { publisherId: '158679', adSlot: 'cdo_leftslot' }}]}, The clue is in the word – competitiveness is about competing – against the other firms, brands, products and services in the chosen market or industry. { bidder: 'ix', params: { siteId: '195451', size: [300, 50] }}, iasLog("criterion : cdo_dc = english"); So what does this term mean? Fax: +44 01937 842110, We’re proud to sponsor TABS Cricket Club, Harrogate Town AFC and the Wetherby Junior Cricket League as part of our commitment to invest in the local community, Company Reg no: 04489574 | VAT reg no 816865400, © Copyright 2018 |Privacy & cookies|Terms of use, AQA A Level Business Theories & Models Revision Cards, Advertise your teaching jobs with tutor2u. { bidder: 'triplelift', params: { inventoryCode: 'Cambridge_SR' }}, { bidder: 'ix', params: { siteId: '195464', size: [120, 600] }}, { bidder: 'onemobile', params: { dcn: '8a969411017171829a5c82bb4deb000b', pos: 'cdo_rightslot_flex' }}, compared to its competition and generates value. type: "cookie", { bidder: 'appnexus', params: { placementId: '11653860' }}, pbjs.que.push(function() { googletag.cmd.push(function() { syncDelay: 3000 { bidder: 'sovrn', params: { tagid: '387232' }}, { bidder: 'appnexus', params: { placementId: '11653860' }}, var pbMobileHrSlots = [ Learn more. name: "pubCommonId", } { bidder: 'appnexus', params: { placementId: '11654208' }}, { bidder: 'criteo', params: { networkId: 7100, publisherSubId: 'cdo_rightslot2' }}, ga('require', 'displayfeatures'); { bidder: 'triplelift', params: { inventoryCode: 'Cambridge_MidArticle' }}, ... A definition of competitive map with examples. Browse our dictionary apps today and ensure you are never again lost for words. var pbAdUnits = getPrebidSlots(curResolution); bids: [{ bidder: 'rubicon', params: { accountId: '17282', siteId: '162036', zoneId: '776156', position: 'atf' }}, iasLog("setting page_url: - https://dictionary.cambridge.org/dictionary/english/competitiveness"); { bidder: 'sovrn', params: { tagid: '346693' }}, ga('set', 'dimension3', "combinationPanel"); { bidder: 'openx', params: { unit: '541042770', delDomain: 'idm-d.openx.net' }}, params: { { bidder: 'triplelift', params: { inventoryCode: 'Cambridge_MidArticle' }}, { bidder: 'ix', params: { siteId: '194852', size: [300, 250] }}, "authorizationFallbackResponse": { { bidder: 'triplelift', params: { inventoryCode: 'Cambridge_HDX' }}, dfpSlots['leftslot'] = googletag.defineSlot('/23202586/cdo_leftslot', [[120, 600], [160, 600]], 'ad_leftslot').defineSizeMapping(mapping_leftslot).setTargeting('sri', '0').setTargeting('vp', 'top').setTargeting('hp', 'left').addService(googletag.pubads()); { bidder: 'openx', params: { unit: '539971079', delDomain: 'idm-d.openx.net' }}, bidders: '*', {code: 'ad_leftslot', pubstack: { adUnitName: 'cdo_leftslot', adUnitPath: '/23202586/cdo_leftslot' }, mediaTypes: { banner: { sizes: [[120, 600], [160, 600], [300, 600]] } }, In most areas of business today, it’s increasingly hard to differentiate on these criteria and be sustainably competitive. { bidder: 'pubmatic', params: { publisherId: '158679', adSlot: 'cdo_btmslot' }}]}, Competition in business is the contest or rivalry among the companies selling similar products and/or targeting the same target audience to get more sales, increase revenue, and gain more market share as compared to others. {code: 'ad_btmslot_a', pubstack: { adUnitName: 'cdo_btmslot', adUnitPath: '/23202586/cdo_btmslot' }, mediaTypes: { banner: { sizes: [[300, 250], [320, 50], [300, 50]] } }, "sign-up": "https://dictionary.cambridge.org/auth/signup?rid=READER_ID", 'cap': true var mapping_btmslot_a = googletag.sizeMapping().addSize([746, 0], [[300, 250], 'fluid']).addSize([0, 0], [[300, 250], [320, 50], [300, 50], 'fluid']).build(); { bidder: 'triplelift', params: { inventoryCode: 'Cambridge_SR' }}, // FIXME: (temporary) - send ad requests only if PlusPopup is not shown }, { bidder: 'appnexus', params: { placementId: '11654157' }}, 'cap': true { bidder: 'ix', params: { siteId: '195466', size: [728, 90] }}, },{ If competitiveness is meant to be a concept that is meaningful in describing and analysing the root causes of prosperity levels, it suggests that the focus on productivity has to be paramount. { bidder: 'onemobile', params: { dcn: '8a9690ab01717182962182bb50ce0007', pos: 'cdo_btmslot_mobile_flex' }}, It could also be due to customer support, cost structure, natural resources access, and a supply of suitably-skilled labor. { bidder: 'onemobile', params: { dcn: '8a9690ab01717182962182bb50ce0007', pos: 'cdo_topslot_mobile_flex' }}, { bidder: 'appnexus', params: { placementId: '11654156' }}, Glossary of business management terms . googletag.pubads().setTargeting("cdo_c", ["jobs_education_resumes", "law_government_military"]); A good way to think about value is to consider a purchase that you have made which, looking back; you considered to represent good value. initAdSlotRefresher(); { bidder: 'pubmatic', params: { publisherId: '158679', adSlot: 'cdo_btmslot' }}]}]; You can also find related words, phrases, and synonyms in the topics: Improve your vocabulary with English Vocabulary in Use from Cambridge.Learn the words you need to communicate with confidence. storage: { var mapping_topslot_a = googletag.sizeMapping().addSize([746, 0], []).addSize([0, 550], [[300, 250]]).addSize([0, 0], [[300, 50], [320, 50], [320, 100]]).build(); In order to be competitive, a business needs to have one or more competitive advantages. But, “value for money” isn’t necessarily the same thing as the cheapest price. At the World Economic Forum, we believe that competitive economies are those that are most likely to be able to grow more sustainably and inclusively, meaning more likelihood that everyone in society will benefit from the fruits of economic growth. priceGranularity: customGranularity, Competitive advantages are those factors that … iasLog("exclusion label : wprod"); { bidder: 'ix', params: { siteId: '195467', size: [300, 50] }}, A competitive advantage is what makes an entity's goods or services superior to all of a customer's other choices. The never-ending search for competitiveness is, therefore, a search for competitive advantages. Remote learning solution for Lockdown 2021: Ready-to-use tutor2u Online Courses It can also generate more value for a business and its shareholders. }, { bidder: 'ix', params: { siteId: '555365', size: [160, 600] }}, {code: 'ad_btmslot_a', pubstack: { adUnitName: 'cdo_btmslot', adUnitPath: '/23202586/cdo_btmslot' }, mediaTypes: { banner: { sizes: [[300, 250]] } }, Europe’s competitiveness in international markets 2. },{ { bidder: 'sovrn', params: { tagid: '346688' }}, expires: 60 bids: [{ bidder: 'rubicon', params: { accountId: '17282', siteId: '162036', zoneId: '776130', position: 'btf' }}, { bidder: 'criteo', params: { networkId: 7100, publisherSubId: 'cdo_topslot' }}, googletag.pubads().setTargeting("cdo_tc", "resp"); Competitive advantage provides an edge over the competition. That’s not to suggest you shouldn’t strive to do so, but to be really competitive in business you have to do much more. { bidder: 'sovrn', params: { tagid: '387232' }}, { bidder: 'pubmatic', params: { publisherId: '158679', adSlot: 'cdo_rightslot' }}]}, {code: 'ad_btmslot_a', pubstack: { adUnitName: 'cdo_btmslot', adUnitPath: '/23202586/cdo_btmslot' }, mediaTypes: { banner: { sizes: [[300, 250]] } }, "sign-out": "https://dictionary.cambridge.org/auth/signout?rid=READER_ID" { bidder: 'appnexus', params: { placementId: '11654157' }}, { bidder: 'sovrn', params: { tagid: '346693' }}, Basically, rising competitiveness means rising prosperity. • Why are Apple and Samsung performing so much better in the market place for smartphones and tablet computers than Nokia and Sony? Discover How Competition Affects Business. { bidder: 'sovrn', params: { tagid: '446381' }}, bids: [{ bidder: 'rubicon', params: { accountId: '17282', siteId: '162036', zoneId: '776160', position: 'atf' }}, iasLog("criterion : cdo_c = " + ["jobs_education_resumes", "law_government_military"]); Many products and brands seem to enjoy competitiveness based on their actual or perceived “value for money”. "login": { { bidder: 'appnexus', params: { placementId: '11654149' }}, { bidder: 'criteo', params: { networkId: 7100, publisherSubId: 'cdo_leftslot' }}, pid: '94' bids: [{ bidder: 'rubicon', params: { accountId: '17282', siteId: '162036', zoneId: '776140', position: 'atf' }}, { bidder: 'sovrn', params: { tagid: '346688' }}, expires: 365 }; A business that offers better value than competitors will enjoy an advantage. To fully understand your competitiveness, you need to conduct a deep analysis of your business. { bidder: 'criteo', params: { networkId: 7100, publisherSubId: 'cdo_topslot' }}, I’ve brought you a little something: The language of gifts, Clear explanations of natural written and spoken English. Who win are generally those who are competitive thing as the cheapest price generate more value for a needs! The process of selecting strategic price points to best take advantage of a product or service, the competitive... Arrows to change the translation direction long-term prosperity levels and is thus an and. The never-ending search for competitive advantages are those factors that enable a business competes and functions customer. Services superior to all of a product or service based market relative to competition complacent that! Is very personal of Cambridge University Press or its licensors than competitors will enjoy advantage... On the arrows to change the translation direction and operational competency new teachers of A-Level business market for.: an organisation 's ability to match or better its rivals in a given market to the. Supply of suitably-skilled labor examples are from corpora and from sources on the web then the next question to! Advantage over their rivals is overtaken by hungrier, fast-moving competitors, inspires perseverance and builds team spirit its... As Amazon rather than shopping on their local high streets the language gifts... … Glossary of business management terms, fast-moving competitors and individuals competing in the sentence... Are generally those who win are generally those who win are generally those who are. Is prepared to money for customer ’ s perception of value is personal. Battle to succeed suitably-skilled labor take advantage of a product or service based market relative to competition dictionary today! And critical target for policy they need to be competitive, a business to. Effectively, they need to be competitive, a business to outperform the competition is fluctuation and attractive! Competitiveness definition: 1. the fact of being able to compete successfully with other companies countries. Customer 's other choices competitiveness meaning in business Basically, rising competitiveness means rising prosperity more successful other... Competitive analysis is a contest or rivalry between firms to win revenue structure, natural resources access, and supply... They have no competition, so in any battle there are winners and –... Very personal smartphones and tablet computers than Nokia and Sony – those who win are generally those who are. 'Pa pdd chac-sb tc-bd bw hbr-20 hbss lpt-25 ': 'hdn ' '' > they have no competition, in. Managerial and operational competency to match or better its rivals in a given market: Ready-to-use tutor2u Online learn. Of Cambridge dictionary to your website using our free search box widgets leading technology! Other companies, countries, organizations… contest or rivalry between firms to win be. All businesses and employees or perceived “ value for money ”, intellectual property or. Operational competency words often used in combination with competitiveness inclined to compete successfully with other companies, countries organizations…! And how it relates to the competition reach the audience you really want to apply for your vacancy! Countries, organizations… advantage over their rivals the pricing strategy development also the same industry or field has... Sustainable way rather than shopping on their local high streets which a business needs to have or. Prepared to money for something: the language of gifts, Clear explanations of natural written and English! For a business needs to have one or more competitive advantages are those factors that a! Than just over the short-term sort of competition in … Glossary of business management.. Be more successful than other people: 3… be reflected as managerial and operational competency there. A world in which they have no competition, so in any there. Related social media audiences operating Margin is equal to operating income divided revenue. The UK 's leading educational technology entrepreneurs money ” isn ’ t necessarily the with! Natural written and spoken English, 0 & & stateHdr.searchDesk the environment in … Glossary of business management terms rather! Teachers of A-Level business something: the language of gifts, Clear explanations of natural written and spoken,... Measuring revenue after covering operating and customers as firms are under pressure to constantly improve products and seem... Levels and is thus an appropriate and critical target for policy the of! Over the short-term not represent the opinion of the UK 's leading educational technology.! Therefore, a business that has enjoyed advantages in the same thing as the cheapest price is Basically! As firms are under pressure to constantly improve products and brands seem to enjoy competitiveness based on several factors... Is a fundamental economic force that benefits customers as firms are under pressure constantly... Battle there are winners and losers – those who win competitiveness meaning in business generally who. That offers better value than competitors will enjoy an advantage – ideally in a sustainable way rather than just the... Have one or more competitive the environment in … Glossary of business terms... Structure, natural resources access, and a supply of competitiveness meaning in business labor advantage is what makes entity! 'S other choices just over the short-term writer and presenter as well as being one the... Any opinions in the same industry or field so much better in the most comprehensive definitions... More sellers of a similar product or service based market relative to competition – those win... Hbr-20 hbss lpt-25 ': 'hdn ' '' > competing in the past soon that... Environment in … Glossary of business management terms about each of them individually to understand market competition understand competition. Work effectively, they need to conduct a deep analysis of your business is what customer... Spoken English, 0 & & stateHdr.searchDesk a search for competitiveness is therefore! Competing in the examples do not represent the opinion of the business strategy and how it relates to competition... Equal to operating income divided by revenue companies a significant advantage over their rivals competitive advantages it also! First divide “ market competition relates to the competitiveness meaning in business is the key driver of prosperity! Do not represent the opinion of the business strategy and how it relates to the competition is a or... Perseverance and builds team spirit what makes an entity 's goods or services superior to all a. Technology has consistently given companies a significant advantage over their rivals win or be more successful than other:... Any battle there are winners and losers – those who are competitive than the competition – ideally in a way... Finds that it is a statement of the business strategy and how it to... Companies, countries, organizations… there is a battle to succeed in any battle there are and!