What is competitiveness and efficiency?
To me, to be efficient means doing the best with one's given resources (eg stay on frontier of production function and maximise profits); to be competitive means doing better (or at least equal to) your competitors (by being able to produce a cheaper product with equal or better quality or a better product with the ...
Related Posts:
- What affects competitiveness? - International competitiveness is determined by. Short-run factors... (Read More)
- Why is competitiveness important for economic growth? - Competition has a positive impact, not only... (Read More)
- What are the 4 types of economic systems? - Economic systems can be categorized into four... (Read More)
- Is competition good in school? - Through competitions students can gain better understanding... (Read More)
- What is a competitive disadvantage? - A competitive disadvantage is an unfavorable circumstance... (Read More)
- What are the 5 areas of competitive advantage? - 5 areas to drive competitive advantageMARKETING. How... (Read More)
- What are 5 strategies? - About the five strategiesEngaging and empowering people.... (Read More)
- What are the five strategies? - They stand for Plan, Pattern, Position, Perspective... (Read More)
- What are the four key elements of strategic planning? - No matter what approach you take, focus... (Read More)
- What are the 3 inputs to a business strategy? - Three Inputs Your Strategy Development Process Needs... (Read More)