Human capital capabilities
Posted: Tue Dec 17, 2024 5:49 am
Brands that have good business competitiveness, while also possessing cutting-edge technology or updated marketing strategies , are those that have the ability to select the necessary technological resources according to the reach and resources they have.
☞5. Innovative capacity
The capacity for innovation is an important factor because it can have repercussions at all levels of a company's organization. Although there are strategies and ways of organizing that facilitate the development, growth linkedin database and prosperity of businesses, without the capacity for innovation a brand or company sees its chances of survival reduced, especially in times of crisis.
☞6. Commercial resources
This factor determines business competitiveness as it reflects the economic capital that businesses have. It is related to the price-quality ratio element and also says a lot about the profitability of a brand.
If a company has problems with this element, many of the other factors may be affected because commercial resources determine the infrastructure for production, distribution and marketing of products or services.
Since it is human talent that enables key tasks to be performed and the most outstanding interactions with customers to be provided, it is also essential for competitiveness. It determines a large part of the quality factor, whether the company sells a product or a service.
☞8. Financial resources
This last factor is very important in business competitiveness; without it, it is impossible to meet infrastructure needs, maintain good human capital, or invest in the technological resources that the company needs.
Although ideally this factor should deal with the resources that a company currently has, it can also consider external financing strategies, such as loans, as long as those in charge of this element know the liquidity and economic capabilities of the company to face this type of tools.
The 3 types of business competitiveness
A company's competitiveness can be divided into two main types: structural competitiveness and economic competitiveness. In addition to these two categories, there is a third that positions business competitiveness within its economic environment and is called systemic competitiveness.
Structural competitiveness has to do with the quality of a company's internal operating system or structure. If a business has good structural competitiveness, its role organization, work distribution, and model or gearing work efficiently.
A company that has problems with the production line, role assignment, poor product distribution, or poor customer service will be a business with poor structural competitiveness and, therefore, will see its sales, agreements, and interactions within the market affected.
Economic competitiveness , on the other hand, defines a company's ability to produce or offer products or services at a fair cost and without losses or risks to the business's survival. An economically competitive company is one that offers fair wages to its employees, meets its assigned sales and distributions, and does not maintain a negative balance in its economic area. In short, an economically competitive company is a profitable company.
Systemic competitiveness, on the other hand, addresses competitiveness from the level of relationships between a group of companies and other economic actors. It is useful for understanding the situation of companies in interaction with the environments in which they operate.
The relationship between innovation and business competitiveness
One of the factors that make up business competitiveness is innovation or innovative capacity. The capacity for innovation is what will make financial and technological investments pay off. You may have a lot of capital right now, but this will only grow if you are willing to create a product that solves a problem for your clients or you will do it in the most comfortable way for them .
So, Netflix did not invent series and feature films, but it took advantage of a digital transmission system that now seems almost impossible to us not to have existed before.
In fact, innovation has often been what has saved many companies from bankruptcy or the risk of bankruptcy. The reason behind this is that innovation allows for the maximum use of resources and the solution of real problems for a certain audience.
☞5. Innovative capacity
The capacity for innovation is an important factor because it can have repercussions at all levels of a company's organization. Although there are strategies and ways of organizing that facilitate the development, growth linkedin database and prosperity of businesses, without the capacity for innovation a brand or company sees its chances of survival reduced, especially in times of crisis.
☞6. Commercial resources
This factor determines business competitiveness as it reflects the economic capital that businesses have. It is related to the price-quality ratio element and also says a lot about the profitability of a brand.
If a company has problems with this element, many of the other factors may be affected because commercial resources determine the infrastructure for production, distribution and marketing of products or services.
Since it is human talent that enables key tasks to be performed and the most outstanding interactions with customers to be provided, it is also essential for competitiveness. It determines a large part of the quality factor, whether the company sells a product or a service.
☞8. Financial resources
This last factor is very important in business competitiveness; without it, it is impossible to meet infrastructure needs, maintain good human capital, or invest in the technological resources that the company needs.
Although ideally this factor should deal with the resources that a company currently has, it can also consider external financing strategies, such as loans, as long as those in charge of this element know the liquidity and economic capabilities of the company to face this type of tools.
The 3 types of business competitiveness
A company's competitiveness can be divided into two main types: structural competitiveness and economic competitiveness. In addition to these two categories, there is a third that positions business competitiveness within its economic environment and is called systemic competitiveness.
Structural competitiveness has to do with the quality of a company's internal operating system or structure. If a business has good structural competitiveness, its role organization, work distribution, and model or gearing work efficiently.
A company that has problems with the production line, role assignment, poor product distribution, or poor customer service will be a business with poor structural competitiveness and, therefore, will see its sales, agreements, and interactions within the market affected.
Economic competitiveness , on the other hand, defines a company's ability to produce or offer products or services at a fair cost and without losses or risks to the business's survival. An economically competitive company is one that offers fair wages to its employees, meets its assigned sales and distributions, and does not maintain a negative balance in its economic area. In short, an economically competitive company is a profitable company.
Systemic competitiveness, on the other hand, addresses competitiveness from the level of relationships between a group of companies and other economic actors. It is useful for understanding the situation of companies in interaction with the environments in which they operate.
The relationship between innovation and business competitiveness
One of the factors that make up business competitiveness is innovation or innovative capacity. The capacity for innovation is what will make financial and technological investments pay off. You may have a lot of capital right now, but this will only grow if you are willing to create a product that solves a problem for your clients or you will do it in the most comfortable way for them .
So, Netflix did not invent series and feature films, but it took advantage of a digital transmission system that now seems almost impossible to us not to have existed before.
In fact, innovation has often been what has saved many companies from bankruptcy or the risk of bankruptcy. The reason behind this is that innovation allows for the maximum use of resources and the solution of real problems for a certain audience.