it is how an oganisation is percieved to be competitive or attractive in its industry or market in comparison to its competitors.
The guiding principles of pay structure include internal equity, external competitiveness, and pay for performance. Internal equity ensures that employees perceive their compensation as fair relative to their colleagues within the organization. External competitiveness involves aligning pay levels with industry standards to attract and retain talent. Pay for performance links compensation to individual or team contributions, promoting motivation and productivity.
how dose the government help competitiveness
Council on Competitiveness was created in 1986.
Competitiveness Policy Council was created in 1988.
Institute for Economic Competitiveness was created in 1998.
External benchmarking is the process of comparing an organization's performance, processes, or practices against those of other organizations, often within the same industry or sector. This practice helps identify best practices, performance gaps, and opportunities for improvement by assessing metrics such as efficiency, quality, and customer satisfaction. By learning from external sources, organizations can enhance their competitiveness and drive innovation. Ultimately, external benchmarking serves as a tool for strategic planning and continuous improvement.
Strategic competitiveness is achieved when a firm successfully formulates and implements a value-creating strategy.
Here's an example: "Thomas' competitiveness is getting the best of him and raising his huge ego".
Institute for Economic Competitiveness's motto is 'Nationally Recognized, Locally Focused'.
Toshimitsu Motegi is the Minister in Charge of Industrial Competitiveness for Japan.
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a ram for competitiveness