Factors of International Competitiveness of European Union Enterprises
Principal investigator:
Prof. Tomislav Galović, PhD
Co-investigators
Prof. Heri Bezić, PhD- EFRI
Igor Arapović - Hep Inc
Florijan Ćelić, Ideo plan Ltd
Danijela Kažović - NGO Terra, CERNO
Summary
EU companies are continually facing
rapid changes in the European Union's internal market, but also in the
international market. Therefore, companies are forced to implement a variety of
effective mechanisms and business strategies to maintain a satisfactory level or
increase the level of international competitiveness. Depending on the
characteristics (e.g. size, revenue, costs, tangible and intangible assets,
human resources, innovativeness, etc.), companies react differently to internal
and external factors of international competitiveness. External factors (e.g.
legislative, political, cultural environment) often require customization of the
company to become more successful on the international market. Internal factors
of the enterprise often imply factors that each company can manage, whether it
is labor, capital or technology. To become more competitive on the international
market, companies are striving for an efficient allocation of their resources.
Optimal use of resources, i.e. internal factors, encourages productivity growth.
Productivity increases the company's competitiveness, which is manifested
through market share growth, cost reduction, and profit maximization. The
research will demonstrate that a proper, efficient policy of exploiting the
internal and external factors of international competitiveness factors can
create a platform for effective productivity growth and for the growth of
international competitiveness of the EU enterprises. By creating a positive
environment by investing and effectively managing technology, labor and capital,
positive effects on the international competitiveness of EU companies can be
achieved.
Key words
competitiveness, international competitiveness, the EU, enterprises
