Today’s world presents us with new ventures almost every moment: brands and business projects in different market industries are launch daily.
And what distinguishes successful businesses from those that are not is the ability to increase their business competitiveness in a sustain and systematic manner.
In this article we will tell you more about business competitiveness and we will also give you the keys you ne to make your company stand out in the increasingly competitive market.
What is business competitiveness?
It is the ability of companies to generate, improve or maintain truemoney database growth and development within a specific socioeconomic environment. It can also be understood as the ability to manufacture products and provide services with greater quality and efficiency than competing companies.
In general, it is one of the desirable characteristics in a business so that it does not only last for a moment or remain in critical times, but grows and lasts longer.
The importance of business competitiveness
Business competitiveness will allow a company to stay afloat and achieve the goals it sets for itself. Business competitiveness is, in a way, the ability of a company to survive and is therefore also the basis for any development or growth in a business .
Well-develop business competitiveness is a key element when to use double confirmation for implementing effective strategies and campaigns, as well as for achieving the growth goals that are set. In addition to laying the foundations for continu good development , business competitiveness can also be consider as an index that allows us to measure the health or illness of a business and thus determine its profitability.
The 8 factors of business competitiveness
Economic competitiveness is determin by the following 8 factors:
Leadership capacity
It has to do with the leadership and management skills of the director or the management committee, as well as the leaders of each area. If this factor presents deficiencies or problems with the assignment of roles, in the case of management committees, the conditions will not be stable or conducive to the development of the company.
Differentiation in production or service delivery roles
This factor is relat to the categories of organization and sms to data customer service. It is an important element because a good distinction of positions and responsibilities is necessary to obtain and maintain optimal productivity.
It will also help those in charge of selecting personnel because they will know the limits, scope and talents that each position requires.