Global Competitiveness Report

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Best economy in the world

The best economy in the world can be understood as the economy which has reached high levels of competitiveness. Definitions of competitiveness move from a general perspective to more firm-specific and country-specific understandings. In this sense, there are several definitions of competitiveness that must be considered before one can build a particular understanding of the best economy in the world. (...) Read more about Best economy in the world.

 

Competitive intelligence

Competitive intelligence is a management practice employed by enterprises to identify and assess market trends, to prevent and control risks, and to develop a sound corporate strategy. Competitive intelligence refers to the process of selecting, collecting and analyzing data to filter and ‘translate' it into information that is useful and accessible to all members of the enterprise. Competitive intelligence can be thus used in several ways (see Rouach and Santi, 2001). Competitive intelligence provides the means to identify shifts in market trends (e.g., customers' preferences) and to assess the impact of changes in marketing. Competitive intelligence can also be utilized as a tool to monitor sector/industry/market competition (e.g., new competitors and product). From a wider dimension, competitive intelligence provides a process to gather data about political and regulatory trends that may affect the firm. In addition, competitive intelligence enables companies to process the data originating from social media in order to make it useful for strategic purposes. (...) Read more about Competitive intelligence.

 

Competitive landscape

The competitive landscape refers to the context in which competitiveness arises. The analysis of the competitive landscape attempts to identify and understand the drivers and contextual elements that facilitate the evolution of competitiveness. To put it simply, the competitive landscape enables us to analyze a particular environment to observe the conditions under which competitiveness emerge. The roles of governments, industries and businesses are fundamental for the competitive landscape. (...) Read more about Competitive landscape.

 

Competitiveness

Competitiveness as a concept has evolved in the last three decades. While there are parallels among leading publications about their understanding of competitiveness, there are other conceptualizations of competitiveness that differ in their focus-point. In what follows, we present some of the different definitions of the concept of competitiveness. (...) Read more about Competitiveness.

 

Competitiveness index

A competitiveness index is a strategic tool designed to assess and benchmark the competitiveness of countries. As such it contemplates multiple structural dimensions of a countries economy that affect their economic performance. The World Competitiveness Yearbook's competitiveness index or ranking assesses and ranks how countries and enterprises manage the totality of their competencies to achieve increased prosperity. The Yearbook's competitiveness index contemplates the elements that shape a country's ability to create and maintain an environment that sustains more value creation for its enterprises and more prosperity for its people. (...) Read more about Competitiveness index.

 

Countries ranked by GDP

Countries ranked by GDP is a useful way of analyzing the size of the world's economy and thus to identify direction trends and performance patterns of a country's economy. Competitiveness ranking goes beyond countries ranked by GDP. The results presented in the IMD World Competitiveness Center's (WCC) World Competitiveness Yearbook, offer an analysis of how countries manage the totality of their resources and competencies to increase prosperity. Within such framework, competitiveness encompasses, and at the same time goes beyond, countries ranked by GDP because incorporates political, social and cultural factors that affect competitiveness. Competitive countries provide a context that is underlined by an efficient structure and institutions, supported by policies that encourage the competitiveness of enterprises. (...) Read more about Countries ranked by gdp.

 

Country Competitiveness

Country competitiveness refers to the ability of the government to generate prosperity for its people. There are several implications in this understanding of competitiveness. It implies that countries with high levels of competitiveness are able to better manage their economic and human capacities. In this context, the government has a great impact in the achievement of country competitiveness. For example, the level of regulation in a particular country may hinder the ability of a country to increase its competitiveness. The infrastructure also contributes to country competitiveness by providing the adequate context to improve the conditions related to competitiveness. From this understanding of country competitiveness, however, is clear that competitiveness goes beyond the economic performance of a given country. (...) Read more about Country Competitiveness.

 

Country education rankings

Country education rankings enable policy makers to compare their national education systems with other countries and thus to set objectives that will help them improve in their education rankings. Country education rankings are an attempt to collect empirical data to analyze the intricacies of educational institutions across the world. Country education rankings imply a collection of descriptive data aiming at the development of a rigorous and logical conceptual framework accompanied by sophisticated statistical techniques involving measurements and case selection. Country education rankings reflect a particular understating of what it means to be effective in terms of education at the national level. For example, education is considered as a fundamental element of human capital and human well-being, and thus a great contributor to the improvement of the quality of life. Country education rankings thus highlight the state of human capital development in the ranked countries by allowing for the comparison of countries' systems. (...) Read more about Country education rankings.

 

Country rankings

Country rankings in the IMD World Competitiveness Center's World Competitiveness Yearbook (WCY), evaluate how countries manage the totality of their resources and competencies to increase prosperity. Competitiveness goes beyond measures of GDP and productivity because there are political, social and cultural factors that affect competitiveness. Competitive countries provide a context that is underlined by an efficient structure, institutions and supported by policies that encourage the competitiveness of enterprises. For this reason the WCY country rankings take into account hundreds of criteria grouped in four fundamental dimensions or factors of competitiveness which in turn are divided into sub-factors. (...) Read more about Country rankings.

 

Doing business in Brazil

Doing business in Brazil refers to the time, steps and other requisites that the process of starting up a business in the country requires. The ease of doing business is a key component of a country's competitiveness and as such it is included as part of the Government Efficiency factor in the competitiveness index of the IMD World Competitiveness Center. The ranking includes three indicators of doing business: The number of days needed to start-up a business, the number of procedures required to do so and the costs of terminating a redundant worker (or redundancy costs).Within the competitiveness index, the ease of doing business in Brazil can be compared to the processes in other Latin American countries that are also covered by the competitiveness rankings. (...) Read more about Doing business in Brazil.

 

Economic efficiency

Economic efficiency refers to the effective use of a country's resources to maximize the production of goods and services. Economic efficiency thus focuses on the cost of that production. In other words, economic efficiency is about the production of goods and the performance of services at the lowest possible cost. In this sense, there are several indicators to assess economic efficiency including: employment rates, interest rates and prices. Competitiveness goes beyond such understanding by emphasizing the structural elements that surround economic efficiency and that to an extent, determines economic efficiency. The results presented in the IMD World Competitiveness Center's (WCC) World Competitiveness Yearbook, offer an analysis of how countries manage the totality of their resources and competencies to increase prosperity. Within such framework, competitiveness goes beyond measures of economic efficiency because there are political, social and cultural factors that affect competitiveness. Competitive countries provide a context that is underlined by an efficient structure and institutions, supported by policies that encourage the competitiveness of enterprises. (...) Read more about Economic efficiency.

 

Economic growth and development

Economic growth and development are intertwined and can be assessed from two perspectives: the mainstream and the critical. In the mainstream approach, economic growth and development are concerned with the unfulfilled material needs of people. Countries need economic growth to ensure that generates enough resources to meet the needs of their population. According to this approach, development is linear: there is a specific "path" that countries can follow to achieve development. Of course, there are different stages that countries must reach and exceed before achieving economic growth and development. According to Rostow, the five development stages include the initial "traditional society," a "take off" phase and the final "high mass consumption" stage. Originally this approach implied that there was a possibility of unlimited economic growth and thus that all countries could achieve equal levels of development. Later, the focus of economic growth was transformed to sustainable economic growth. (...) Read more about Economic growth and development.

 

Economic growth rate

Economic growth rate measures the changes in an economy during a specific period of time. Economic growth rate is useful for determining the direction and size of a particular economy. When reflecting on the competitiveness of a country, there is a tendency to focus on economic growth rate, and to argue that competitiveness is equivalent to economic growth rate. Any assessment of competitiveness, however, needs to take into account a wide-range of economic indicators and non-economic variables to capture the depth of competitiveness. (...) Read more about Economic growth rate.

 

Economic indicators

Economic indicators are statistics related to the economic activities of countries. As such, economic indicators assess the health of the economy and enable for the analysis, interpretation and prediction of the economic performance of countries. Economic indicators are an important element of the IMD World Competitiveness Center's World Competitiveness Yearbook. (...) Read more about Economic indicators.

 

Education rankings by countries

Education rankings by countries enable policy makers to compare their national education systems with other countries and thus to set objectives that will help them improve in their education rankings. The education rankings by countries are an attempt to collect empirical data to analyze the intricacies of educational institutions across the world. The education rankings by countries imply a collection of descriptive data aiming at the development of a rigorous and logical conceptual framework accompanied by sophisticated statistical techniques involving measurements and case selection. The education rankings by countries reflect a particular understating of what it means to be effective in terms of education at the national level. For example, education is considered as a fundamental element of human capital and human well-being, and thus a great contributor to the improvement of the quality of life. Education rankings by countries thus highlight the state of human capital development in the ranked countries by allowing for the comparison of countries' systems. (...) Read more about Education rankings by countries.

 

GDP by country

GDP by Country is used to assess the size of the world's economy and so to pinpoint the largest national economy. Competitiveness goes beyond such understanding. The results presented in the IMD World Competitiveness Center's(WCC) World Competitiveness Yearbook, offer an analysis of how countries manage the totality of their resources and competencies to increase prosperity. Within such framework, competitiveness goes beyond measures of GDP by country and productivity because there are political, social and cultural factors that affect competitiveness. Competitive countries provide a context that is underlined by an efficient structure and institutions, supported by policies that encourage the competitiveness of enterprises. (...) Read more about GDP by country.

 

Global competitiveness

Global competitiveness can be understood as a process in which advanced levels of competitiveness are achieved at different levels, that is, at firm, regional and national levels. As such, competitiveness becomes global when it affects large parts of the world. Definitions of competitiveness move from a general perspective to more specific understanding at the firm and country levels. In doing so, those definitions capture the evolution of the competitiveness process from a micro to a macro level. There are several definitions of competitiveness that must be considered before building a particular understanding of global competitiveness. (...) Read more about Global competitiveness.

 

Global competitiveness index

A global competitiveness index is a strategic tool designed to assess and benchmark the competitiveness of countries. As such it contemplates multiple structural dimensions of a countries economy that affect their economic performance. The World Competitiveness Yearbook's global competitiveness index or ranking assesses and ranks how countries and enterprises manage the totality of their competencies to achieve increased prosperity. The Yearbook's global competitiveness index contemplates the elements that shape a country's ability to create and maintain an environment that sustains more value creation for its enterprises and more prosperity for its people. (...) Read more about Global competitiveness index.

 

Global economic trends

Global Economic Trends refer to current issues of the global economy that are shaping our future, in the next three months as well as in the next three, five years. Global Economic Trends are not a prediction of what is going to happen; it is a statement about what is currently happening. Global Economic Trends are currently used by organizations and governments to make choices about international competitiveness, new product launch, economic efficiency choices, and strategies for better economic efficiency and market competition. (...) Read more about Global economic trends.

 

Global economy

The Global economy refers to the economic exchanges among the different national economies which are encapsulated in a global framework. In this sense, the global economy denotes the existence of a global society that engages in daily economic activities. The origin of the global economy can be located in the advent of the sixteenth century European empires which launch economic activities that eventually became global in nature. The modern era of the global economy arguably began after World War II out of the necessity for a stable international system that would discourage national protectionist policies such as those—for example the US Smoot-Hawley Tariff Act and the subsequently retaliatory policies enacted by other countries—that led to the Great Depression of the 1930s. (...) Read more about Global economy.

 

International competitiveness

International competitiveness can be defined as a process in which higher levels of competitiveness are achieved at different levels, that is, at firm, regional and national levels. As such, competitiveness becomes international when it pertains to two or more countries. Such process is captured by definitions of competitiveness which move from a general perspective to more specific understandings at the firm and country levels. There are several definitions of competitiveness that must be considered before one can build a particular understanding of international competitiveness. (...) Read more about International competitiveness.

 

Leading economic indicators

Leading economic indicators are country statistics that change before the economy moves toward particular patterns. Leading economic indicators thus have the potential to be used to predict future economic trends. Leading economic indicators include statistics on stock market, manufacturing activity, inventory levels, retail sales, building permits, housing market, level of new business start-ups, among others. The IMD World Competitiveness Center's World Competitiveness Yearbook incorporates several leading economic indicators. (...) Read more about Leading economic indicators.

 

Most competitive countries

Most Competitive Countries are those that, from the IMD World Competitiveness Center methodology, achieve excellence in four pillars of performance: economic performance, government efficiency, business efficiency, and infrastructure. There is no single recipe that the most competitive countries follow. Very often, when asked by business executives or political officials what the key to achieving prosperity and competitiveness is, we point out that it is not a question of improving certain economic indicators, but to focus on the unique resources and capabilities of the country. Only by finding what is special about one's economy, can countries sustain long-term performance. (...) Read more about Most competitive countries.

 

The global competitiveness report

The Global Competitiveness Report was originally co-published by the IMD World Competitiveness Center and the World Economic Forum (WEF) under the title of "World Competitiveness Report." Subsequently, from this collaboration two publications evolved. In 1996, the name of the report published by the IMD World Competitiveness Center was officially changed to World Competitiveness Yearbook after the co-publication with the WEF ended. Both IMD and WEF began to publish their own World Economy Rankings and eventually the WEF's publication will become the global competitiveness report. (...) Read more about The global competitiveness report.

 

WCC results

The WCC results, or the results presented in the IMD World Competitiveness Center's(WCC) World Competitiveness Yearbook, offer an analysis of how countries and enterprises manage the totality of their resources and competencies to increase prosperity. An economy's competitiveness goes beyond measures of GDP by country and productivity because there are political, social and cultural factors that affect competitiveness. Competitive countries provide a context that is embedded in an efficient structure and institutions supported by policies that encourage the competitiveness of enterprises. For this reason the WCC results groups hundreds of criteria in four fundamental dimensions or factors of competitiveness. Each of these factors is in turn divided into sub-factors. (...) Read more about WCC results.

 

World economic indicators

World economic indicators are related to the economic activities of countries. World economic indicators allows for the study of the health of an economy. Thus world economic indicators enable observers to analyze and assess the economic performance of countries. World economic indicators denote the prevailing economic and financial conditions in the world economy. As such, world economic indicators are an important element of the IMD World Competitiveness Center's World Competitiveness Yearbook. (...) Read more about World economic indicators.

 

World economies ranking

World economies ranking is constructed in the IMD World Competitiveness Center'sWorld Competitiveness Yearbook (WCY). The Yearbook ranks the competitiveness of economies or how countries manage the totality of their resources and competencies to increaseprosperity. Competitiveness, in short, goes beyond measures ofGDPand productivity because it is also embedded in political, social and cultural factors. Competitive economies provide acontext that is underlinedbyan efficientstructure, institutions and supported by policies that encourage the competitiveness of enterprises. For this reason the WCY's competitiveness ranking or world economies ranking groups criteriain four fundamental dimensions or factors of competitiveness which in turn are divided into sub-factors. (...) Read more about World economies ranking.

 

World economy ranking

World economy ranking is constructed in the IMD World Competitiveness Center'sWorld Competitiveness Yearbook (WCY). The Yearbook ranks the competitiveness of economies or how countries manage the totality of their resources and competencies to increase prosperity. Competitiveness, in short, goes beyond measures of GDP and productivity because it is also embedded in political, social and cultural factors. Competitive economies provide a context that is underlinedby an efficient structure, institutions and supported by policies that encourage the competitiveness of enterprises. For this reason the WCY's competitiveness ranking or world economy ranking groups criteria in four fundamental dimensions or factors of competitiveness which in turn are divided into sub-factors. (...) Read more about World economy ranking.

 

World education rankings by country

World education rankings by country enable policy makers to compare their national education systems with other countries and thus to set objectives that will help them improve in their education rankings. The world education rankings by country are an attempt to collect empirical data to analyze the intricacies of educational institutions across the world. The world education rankings by country imply a collection of descriptive data aiming at the development of a rigorous and logical conceptual framework accompanied by sophisticated statistical techniques involving measurements and case selection. The world education rankings by country reflect a particular understating of what it means to be effective in terms of education at the national level. For example, education is considered as a fundamental element of human capital and human well-being, and thus a great contributor to the improvement of the quality of life. World education rankings by country thus highlight the state of human capital development in the ranked countries by allowing for the comparison of countries' systems. (...) Read more about World education rankings by country.

 

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