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Ability to harness existing technology Market size—both domestic and international Production of new and different goods using the most sophisticated production processes Innovation In the factor-driven stage countries compete based on their factor endowments, primarily unskilled labor and natural resources.
Companies compete on the basis of prices and sell basic products or commoditieswith their low productivity reflected in low wages.
To maintain competitiveness at this stage of development, competitiveness hinges mainly on well-functioning public and private institutions pillar 1appropriate infrastructure pillar 2a stable macroeconomic framework pillar 3and good health and primary education pillar 4.
As wages rise with advancing development, countries move into the efficiency-driven stage of development, when they must begin to develop more efficient production processes and increase product quality. At this point, competitiveness becomes increasingly driven by higher education and training pillar 5efficient goods markets pillar 6efficient labor markets pillar 7developed financial markets pillar 8the ability to harness the benefits of existing technologies pillar 9and its market size, both domestic and international pillar Finally, as countries move into the innovation-driven stage, they are only able to sustain higher wages and a higher standard of living if their businesses are able to compete by providing new or unique products.
At this stage, companies must compete by producing new and different goods using the most sophisticated production processes pillar 11 and through innovation pillar Thus, the impact of each pillar on competitiveness varies across countries, in function of their stages of economic development.
Therefore, in the calculation of the GCI, pillars are given different weights depending on the per capita income of the nation. Intermediate values are used for economies in transition between stages. The Global Competitiveness Index's annual reports are somewhat similar to the Ease of Doing Business Index and the Indices of Economic Freedomwhich also look at factors affecting economic growth but not as many as the Global Competitiveness Report.Billion Robocalls Flooded Consumers' Phones in October: Report With the volume of robocalls surging, industry, government and consumer groups are clambering for solutions.
Consumer Reports says the surge in unwanted calls puts more pressure on industry and regulators. The pathways outlined in the report aren’t counting on any magical technologies that don’t yet exist; the greenhouse gas mitigation pathways use systems we have now.
But they do require. "Failure to do market research before you begin a business venture or during its operation is like driving a car from Texas to New York without a map or street signs," says William Bill of Wealth.
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One part of the report is the Executive Opinion Survey which is a survey of a representative sample of business leaders in their respective countries. Respondent numbers have increased every year and is currently just over 13, in countries ().
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