• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

Elements of International Business - Competition and competitiveness.

Extracts from this document...

Introduction

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.

Middle

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.

Conclusion

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.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our University Degree Political & International Economics section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related University Degree Political & International Economics essays

  1. Economic competitiveness

    Obecne i przyszle sily przedsiebiorstwa - strategie wskazuja, w jaki spos�b mozna je wykorzystac do realizacji cel�w firmy; c) Cele przedsiebiorstwa - jako gl�wny determinant strategii, osiagane poprzez wykorzystanie przewagi konkurencyjnej; d) Kierunek rozwoju przedsiebiorstwa - jest okreslany poprzez strategie.

  2. Free essay

    International Business

    The U.S. has argued that these loans give Airbus an unfair advantage in the marketplace, allowing Airbus to sell its aircraft at artificially low prices and to take risks knowing that the EU government will be there to provide financial assistance.

  1. Singapore Competitiveness

    In addition, the country offers corporations the opportunity to find the best staffs from worldwide as its immigration policy openness (Singapore Government, 2009). An open immigration policy has supported Singapore to be a large base of talent which is very crucial for the country growth as Lee Kuan Yew, Senior

  2. Doing business in emerging economics

    The Chinese government will remain committed to a stable and effective policy, legal environment, increase the financial, taxation and financing support, facilitate investment procedures in Africa, regulate and protect the operation of Chinese enterprises overseas. The Chinese government has adopted incentives, including tax rebates, to relax foreign exchange restrictions, to encourage more Chinese enterprises to invest in Africa.

  1. ECONOMIC TRENDS & PROSPECTS IN DEVELOPING ASIA

    end of 2002, the aggregate current account surplus for developing Asia is projected at $99 billion for 2003, further adding to the region's remaining reserves. Average inflation for the region is estimated at 2.5% in 2003, about a percentage point higher than in 2002, but still a fairly low average rate.

  2. Four key elements of the business environment in the Asia Pacific Region.

    governments, the central importance of relationships, the role of ethical and religious cultures, and their implications for competitive and business logic. This essay will discuss these four key elements of the Asian business environment and analyse the role they play in conducting business in the Asia Pacific region.

  1. MNC and TNC: Does the distinction make a difference?

    * A minimum level of firm size seems to be important for a firm to be a multinational. As an aspect of the growing integration of the world economy, intra industry trade has attracted considerable interest in recent years, particularly in the wake of the surge in international direct investment in the late 1980's.

  2. What, if any, is the difference between a competition policy and an industrial policy?

    What exactly is industrial policy? Industrial policy is the government?s policy which attempts to encourage growth and development its aims are to offset externalities affecting production decisions by firms. Industrial policies are specific to individual sectors unlike horizontal policies like tightening credit, vertical policies are subsiding export policies.

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work