Global Competitiveness Essay

In recent years, the United States’ global competitiveness has declined, and upon the most recent analysis is sitting in the 7th position of competitiveness. As defined by the World Economic Forum, competitiveness is “the set of institutions, policies, and factors that determine the level of productivity of a country.” In Chapter 2 we have discussed the concepts of competitiveness and productivity within a company. I have taken a different approach and decided to look at our overall competitiveness globally to relate the two.

In determining the competitiveness of a country, this specific report used an index of categories ranging from the health and educational attainment of the population, to inflation conditions, and also access to technology and research development. It is taken from the article that the reason for this decline in overall global competitiveness is “distrust and lack of confidence in government leadership.” Competitiveness, as defined in our class is “how effectively an organization meets the wants and needs of customers relative to others that offer the same goods.

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The correlation I see between this definition of a micro comparison and the global comparison is the fact that all nations in the world, like all businesses in a marketplace, are attempting to satisfy their customers (other countries) in a more effective way than their competitors. The United States can once again thrive as a nation once it gains back its competitive edge. Though our financial market development is beginning to increase, our macroeconomic stability stays on a steady decline. In order to recover these systems that our failing, our government must regain confidence in the subjects that lead our nation and supplement this confidence back into the private and public sectors. I feel that the comparison between our nation’s competitiveness and the competitiveness of a single business and all of its operations have a strong positive correlation.