Competing objects this is the specific object of

Info icon This preview shows pages 46–49. Sign up to view the full content.

Competing Objects. This is the specific object of competition, which includes such things as profits, market share, material sources, ideas and innovation, service networks, customer‘s satisfaction. Competitive Capability. Independent interested individuals demonstrate their special characteristics and abilities during the competitive process. The greater quality or ability one has, the greater the chance of success as compared with one‘s competitors. Competed Results. The result of competing is a reasonable allocation of competing objects among competitors. If the results are not mutually satisfactory, competition will continue. Based on these four dimensions of competition, each competitor is seeking to enhance his competitive capability by specialisation in particular abilities or by differentiation of its products or services to successfully realise the desired
Image of page 46

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

32 competitive object. Competed results will approach a point of equilibrium asymptotically among competitors through repeated competition. During this process of repeated competition, each competitor will develop its specific competitiveness. 2.3.2 Definition of Competitiveness The study of ‗competitiveness‘ has proven extremely popular with economic/management theorists, business managers and directors alike in recent years. It is generally believed that mapping the competitive environment of an organisation helps to form a sound basis for business strategy development (Feurer and Chaharbaghi 1994). In recent years, various studies have been conducted on the subject of competitiveness. These can be categorised into three levels: micro, meso and macro. These can be further characterised as being applicable to organisation competitiveness, industrial competitiveness, and national competitiveness (Nelson 1992). As maintained by Man et al. (2002), whatever the levels of focus are, competitiveness is eventually concerned with the long-term performance of the subject relative to its competitors - the result of being competitive. Waheeduzzaman and Ryans (1996) indicate that competitiveness involves multidimensional concepts and disciplines, including: comparative advantage and/or the price competitiveness perspective; the strategy and management perspective; and the historical and socio-cultural perspectives. Different definitions of competitiveness apply to these different levels. From a macro perspective, i.e. a national viewpoint, competitiveness enhances the prosperity of the nation by improving the real income of its citizens whose
Image of page 47
33 performance comprise the social, cultural, and economic variables in international markets. Scott and Lodge (1985) gave the definition of national competitiveness as; ―A country‘s ability to create, produce, distributes and/or service products in international trade while earning rising returns on its resources‖. In the early 1990s, Porter (1990) developed a diamond framework to specify the role of the national environment in influencing the international competitiveness of an industry. Porter (1990) reveals that four attributes of the home country
Image of page 48

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

Image of page 49
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern