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Theme 4, Part 2- Global Business, Global Markets and Business Expansion -…
Theme 4, Part 2- Global Business, Global Markets and Business Expansion
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Global competitiveness
Global Competitiveness Definition:
measures the ability of a business to succeed against both domestic rivals and foreign rivals in an international market
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Cost competitiveness
- increase productivity
- reduce costs
- outsourcing
- offshoring
Product differentiation
- design
- function
- performance
- engineering
Skill shortages
- lacking in staff/ employees
- reduced production
- having to pay higher wages to existing staff
- recruitment/ training costs