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Showing posts with the label global competitiveness

The U.S. Moves Up in Global Competitiveness but Still Needs Improvement to Claim #1 Spot

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The U.S. is becoming more competitive according to the Global Competitiveness Report 2014-2015. For two years in a row the U.S. has been improving and has moved into 3rd place with improvements in institutional framework, business sophistication, and innovation. The process of development is moving forward but lags behind due to perceptions of governmental efficiency and decision-making. As the nation aligns around core principles and values, it will better be able to foster the right pro-growth environment. Strengths :  The U.S. has strong infrastructure, flexible labor, advanced business, and a progressive use of new information. The report cites the willingness of businesses to work with universities to create innovation and development. This innovation turns into new products, services, and operations that strengthens the entire system.  Weaknesses :   The business community is skeptical of government, believe that government officials play favorites, and waste

How Highly Skilled Employees Draw Foreign Investment for Economic Growth

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Economic development cannot happen without the proper skill levels available in the market to ensure that investment opportunities meet capabilities. A study by Osomu, et. al. (2010) delves into the overall concept of creating greater global competitiveness. They analyzed 84 different countries over 5 years to determine how skill development through formal education and corporate training raised economic viability and encourage foreign direct investment in high technology environments.  Technological progress and globalization has created rapid changes in the environment putting pressure to create productive and innovative approaches that are supported through the comparative advantages of skills, industrial organization and management practices (Lall, 1999). The process of creating stronger businesses and management practices must meet available market skills to create competitive advantages for the region and the market.  The types of skills vary based upon what industry