Strategies for Enhancing Competitiveness of Firms, Industry Sectors and Country

Abstract

India traversed from a controlled economy till 1990 into a liberalized one since then. This big change attracted many foreign firms and MNCs into the Indian market and forced the domestic players to adopt strategies to guard their arena. Acquiring customers and access the markets which constitute future profitable growth from anywhere on the globe calls for enhancing competitiveness. Quality workforce, technology, pro-business environment are three basic aspects of the competitive strategy. A major precondition for competitiveness enhancement is the availability of skilled labour. Skills can be developed only through a commitment. We have all witnessed that rapid growth of the Newly Industrialising Economies (or NIEs), such as South Korea and Taiwan, which were supported by the availability of skilled and highly educated workforce. As Michael Porter suggests choosing a unique and valuable position rooted in systems of activities that are much more difficult to match would be essenti...