Summary. Industrial Competitiveness and Technological Advancement. Emphasis must continue to be placed on research and development and on improving the, the contribution a project makes to improving the. Remaining competitive in the technology industry In this whitepaper, learn how to deploy an integrated 'strategy-through-execution' approach that will help you speed growth and maintain competitive advantage in this new technology industry reality. At the level of the European Union, a strategic reference in the defining of competitiveness is represented by the Lisbon Strategy. Because technology can. For example, China uses cost leadership by exporting low-cost products at a reasonable quality level. the best strategies for fostering a nation's economic growth. Technological innovation is the process where an organization (or a group of people working outside a structured organization) embarks in a journey where the importance of technology as a source of innovation has been identified as a critical success factor for increased market competitiveness. The extent to which competitiveness relates to technological capabilities and economic structure may be limited, since the competitiveness of a given firm is also determined by the extent of multinationality of the firm and the nature of its international … promote, along with the technological efficiency and receptiveness to new technologies (WEF, The Global Competitiveness Report 2006-2007, p.3). Competitive people do whatever it takes to fulfill their desires to keep up with status, winning at sports, board games and even the lottery. The true definition of competitiveness is the With technological innovation, your company can form a sustainable competitive advantage that can help cement your place as a segment or industry leader… the best strategies for fostering economic growth. Thus, the true definition of competitiveness is the ability of a region to export more in value added terms than it imports when including for “terms of trade” to reflect all government “discounts” and import barriers. The term competitive advantage refers to a unique advantage a company has over other companies who are offering similar goods and services. Example sentences with "technological competitiveness of firms", translation memory Giga-fren The creation of globally competitive technology clusters ― concentrations of firms focused on specific sectors of technology ― is one of the best strategies to ensure that Canada's economy remains competitive , productive and sustainable. competitiveness meaning: 1. the fact of being able to compete successfully with other companies, countries, organizations…. The resources of the California Competitive Technology Program may also be utilized in support of the California Procurement and Technical Assistance Network, upon successful competitive application to the Competitive Technology Program Fund. These types of people are very confident in themselves and the law of attraction are key elements to having a winning attitude and doing better than most everyone else. Definition. The following are the basic types of technological progress. Robert Hahn, in a study supported by the Association for Competitive Technology Hahn RW “An Assessment of the Costs of the Proposed Online Privacy Legislation” May 7, 2001 argues that costs could run into billions of dollars and may be prohibitive. Intangible resources, such as positive brand recognition, however, cannot be bought and … A country can also create competitive advantage, a practice that's called national competitive advantage or comparative advantage. projects, with some economic benefits occurring during the work phase, and the majority occurring in the years following, as the, resulting from the project manifest themselves in, these premiums (if any) across the supply chain depends on a number. contribute to economic growth and productivity increases, congressional attention has focused on. Cookies help us deliver our services. "Explanation We see that in 21st century, technology is changing fastly. The various changes in technology leads to an increase in the productivity of labour, capital and other production factors. By using our services, you agree to our use of cookies. rather than the commercial viability of a specific product. Found 592 sentences matching phrase "technological competitiveness of firms".Found in 30 ms. Tangible resources, such as technology, can be bought by other competitors to gain a competitive advantage. They come from many sources and are not checked. Competitive Technology means any system, program, hardware or software (including any network architecture, system architecture, messaging architecture, trade processing and clearing systems and architecture, database architecture and storage of market and trading data for purposes of statistical analysis, network infrastructure, market data processing and messaging types that support such market data processing, order processing or any other software or hardware): … the best strategies for fostering a nation’s economic growth. The U.S. economy grew 2.3% last year, but technology is expensive, and examples abound of companies that went bankrupt because they invested in the wrong technology -- … A highly competitive person is more likely to see a situation as a competition, even when there is no explicit winner or loser. Definition of Technological Environment :-“Technological Environment means the development in the field of technology which affects business by new inventions of productions and other improvements in techniques to perform the business work. Technology foresight is regarded as the most upstream element of the technology development process. The technological adoption category assesses the agility with which an economy adopts existing technologies. Congressional Research Service. Showing page 1. Outward investment by Canadians provides improved access to foreign markets, , innovative and scientific structures (scientific parks, innovative-, , academic cities, business-incubators, innovative-, Whereas it is in the Community interest to extend the suspension, subheading 27129031 intended for de-oiling by fractional crystallisation to take account. What is Competitiveness? Offensive competitive strategies seek to shape an industry through first-mover and other aggressive moves. Definition of Competitiveness: Competence of an organization or country to produce and sell products/services that meet the quality of the markets at the same or lower prices and maximize returns on the resources consumed in producing them. The numbers represent the respondents’ ranking, with company 1 being rated as the most effective in using technology as a competitive weapon. The Seismic Safety Commission, in collaboration with the California Council on Science and Technology, the California Geological Survey, and the Office of Competitive Technology, shall provide structure for the EREC by submitting a proposed five-year plan for review and consideration. manufacturing program in the long-term. U.S. economic growth, productivity, and international competitiveness. The International Institute for Management Development describes competitiveness as "a field of economic knowledge which analyses the facts and policies that shaped the ability of a nation to create and maintain an environment that sustains more value … Meaning of Technological Change: Technological change means the technical knowledge used in the production of capital and machinery. Technological definition is - of, relating to, or characterized by technology. It is important because technological advances have played a key role in facilitating radically improved standards of living. The true definition of competitiveness. It provides inputs for the formulation of technology policies and strategies that guide the development of the technological infrastructure. The Federal Trade Commission promotes competition in technology industries (like computers, software, communications, and biotechnology) as the best way to reduce costs, encourage innovation, and expand choices for consumers. Harmonised competitiveness indicators; Macroeconomic and sectoral statistics. It entails recognizing new technological possibilities, organizing the human and financial resources needed to transform them into useful products and processes, and sustaining the requisite activities. Competitiveness depends on the relationship between the value and quantity of the outputs offered and the inputs needed to obtain profitability (productivity), as well as the productivity of the other bidders that exist in the market. There is ongoing interest in the pace of U.S. technological advancement due to its influence on. Be warned. Competitiveness is the capability a country or company has to achieve profitability in the market in relation to its competitors. : It is not true there is a crisis in the country's scientific or technological competitiveness. The Technological Readiness pillar is composed of 7 indicators, three of which are opinion survey questions (on availability of latest technologies, firm-level technology absorption, and FDI and technology transfer) among respondent CEOs whose perceptions determine the country’sranking. the best strategies to ensure that Canada's economy remains, It will also provide for measures supporting the creation, is challenging as comparative data collection lags significantly behind the present 6 to 12 month, (a) whether US has increased visa fee which would erode the, business) _______________________________, , and acquisitions, which all affect the ability, Introduction Investment and Financing Trade, Change Human Resources Sustainable Development Top. It should be noted that it is not just information technology that gives a business competitive advantage but the mode and … Steam engines could be put to use in factories, enabling mass production, and they revolutionised transport with the railways. China can do this because its standard of living is lower, meaning it can pay its workers less. Still others believe innovation pertains only to the research and development (R&D) activity occurring at universities, national laboratories, and corporations. ... A classic example of innovation is the development of steam engine technology in the 18th century. Many see innovation as only technological in nature, resulting in shiny new products like Apple’s iPad or Boeing’s 787 Dreamliner. Wrong decisions and inadequate integration. the fact of a person wanting very much to win or be more successful than other people: Translation memories are created by human, but computer aligned, which might cause mistakes. Technological adoption In today’s globalized world, technology is increasingly essential for firms to compete and prosper. PEST Analysis (Political, Economic, Social and Technological) is an analytical method used by companies to determine what major external factors could affect their business. Keeping competitive is all about looking toward the future and embracing the way it shapes how we work. IN GENERAL.—Beginning in fiscal year 1999, the Sec- retary shall establish a program to be known as the Experi- mental Program to Stimulate Competitive Technology (referred to in this subsection as the ‘‘program’’). Technology, Globalization, and International Competitiveness 31 specialization and exchange. Technological progress is technological change that improves quality of life.This includes any technology that is invented, adopted and improved such that it advances the wellbeing and resilience of communities. All contents of the lawinsider.com excluding publicly sourced documents are Copyright © 2013-. Compared with the current GCI, the updated pillar does not include measures of ICT use. Learn more. A competitive environment is the dynamic external system in which a business competes and functions. Competitiveness is a measure of a person’s desire to surpass others. the fact of being able to compete successfully with other companies, countries, organizations, etc. ‘Competitiveness has become a personal attribute that, at its best, provides the fuel to drive us to our loftiest goals, but at its worst, can lead astray our better judgment.’ ‘It is that we allowed our competitiveness to override our common sense.’ The wording "technological innovation" is preferred to "technology innovation". Competitive Environment: Definition. A different approach to collaboration with the states is exemplified by the Department of Commerce’s EPSCoT initiative (Experimental Program to Stimulate Competitive Technology). If your technology is behind the times, your brand isn’t reaching its full potential. Represented by the Lisbon Strategy surpass others role in facilitating radically improved standards of is... Industry through first-mover and other production factors continue to be placed on research and development and on improving.., your brand isn ’ t reaching its full potential could be to. Can pay its workers less, countries, organizations, etc offering similar goods and services due its. Improving the, the Global competitiveness Report 2006-2007, p.3 ) the Global competitiveness Report,... Is the capability a country or company has to achieve profitability in the market in relation to influence. Specific product technologies ( WEF, the Global competitiveness Report 2006-2007, p.3 ) preferred! 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