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Elements of International Business - Competition and competitiveness.

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Elements of International Business INB240/70 COMPETITION AND COMPETITIVENESS Written by: Alexander Zotov CONTENTS 1. Introduction..............................................3 2. Competition..............................................3 3. Competitiveness.........................................3 4. Links between competition and competitiveness...3 5. Conclusion...............................................4 6. Bibliography.............................................4 INTRODUCTION In this assignment I will define competition and competitiveness and identify the differences. Also, I will try to find the links between them. COMPETITION The act of seeking, or endeavouring to gain, what another is endeavouring to gain at the same time; common strife for the same objects; strife for superiority; emulous contest; rivalry, as for approbation, for a prize, or as where two or more persons are engaged in the same business and each seeking patronage; -- followed by for before the object sought, and with before the person or thing competed with. http://web.ask.com/redir?bpg=http%3a%2f%2fweb.ask.com%2fweb%3fq%3dbusiness A simple definition of competition would be a desire to get a bigger customer base than your competitor (business or an individual who is providing similar service or selling similar goods: same market) ...read more.


However, many other nations believe in lifting such barriers and create an open competitive environment. Many believe that this is the way forward. However, on the other hand there is a view that creating such an open environment only helps developing countries to have new markets for trade. At present, nations are trying to regulate monopolies. Therefore, if developing or less developed countries open barriers, this might create an opportunity for MNE's to come and monopolise a foreign market. Therefore, such measures might implicate the regulation and policies on monopolies. Going back to the competition it is important to recognise that in the long term it is important to co-ordinate and create multilateral competition policy for nations in the world. It is important especially knowing the impact of Globalisation. It is visible now with the present increase in the number of states entering EU and number of other regional agreements that such competition policy would be beneficial. ...read more.


Fairness is more open to different interpretations, although it is generally taken to represent consumer welfare. This can create problems in policy where efficiency and fairness are not mutually compatible. Indeed, one of the major sources of disputes between states stems from differences in the definition of fairness. However, the solution to social and economic problem associated with the processes of global competition should be carefully considered in order to implement successful competition policies.1 CONCLUSION In conclusion, it is clear that for the competition to work globally in the long term the multilateral competition policies should be created. Competition was and will be one of the important if not the most important factor to develop economies not only domestically but also globally. However, considerations should be taken on the barriers that might prevent successful competitiveness. The policies therefore will be a universal tool to create the best competitive environments if implemented after resolving social and economic issues. ...read more.

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