By its definition, competitiveness is the ability to offer products and services that meet the quality standards of local and world markets at prices that are competitive and to provide adequate returns on the resources employed or consumed in producing those products.
Competitiveness is not just a competition, rivalry or a competitive bidding process in order to achieve the best possible results; it is the result of many factors, particularly those at the corporate level as well as a favorable business environment that encourages investment and introduction of new products and processes.
Competitiveness is defined as the ability to achieve success in the markets, which leads to highly productive and improved living standards.
As business activities are taking place in a dynamic, complex and difficult to predict environments, a sudden entry of new competitors, growing demands of customers, rapidly changing markets and technologies make it difficult for companies to maintain a competitive advantage.
Also, competitiveness refers to how much a company is successful in a market in comparison with other companies that offer similar products.
Many studies show that quality is central, if not decisive factor in achieving competitive advantages.
The effect of high quality products on competitive advantage of a company is twofold: firstly, through a high quality product customer loyalty is achieved and a company’s market position is strengthened; the second effect of high quality on competitive advantage stems from a company's high efficiency that lowers production costs, while at the same making sure that expectations of high quality are met.
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