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The Dimension Of Competitiveness

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Running Head: MANAGEMENT The dimension of competitiveness Name: Course: Institution: Date Running Head: MANAGEMENT The dimensions of competitiveness Competitiveness among some nations is usually taken as a sports competition where the winning countries win medals but in a real sense what they are trying to do is to encourage the different companies in such countries to be able to apply all the dimensions of competitiveness so that they can be able to compete in a healthy economic situation. Some of the companies are able to utilize the four dimensions of competitiveness and they win big while some only implement one of the dimensions and still win the other markets. Therefore, it is would be advisable for the different companies to understand their strongest strategy that they should apply to remain strongly competitive. Remember that for a company to remain relevant in the market, it should be able to compete with the other companies in the same field otherwise it may run to losses leading to its shutdown (Duane, 2008). Now, for the purposes of this article, the four dimensions of competitiveness included shall be cost, quality, response time and flexibility. These are the key dimensions of competitiveness in a healthy and normal economy. By cost we mean that, the company should be able to offer a price either lower than that of the competitor’s in order to win more customers or forcing the company to leave the market and this shall enable the company applying this str ...
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