Международный журнал экономики и менеджмента

Variety of Approaches in Assessment of Global Competitiveness

Abstract

Arpine Sargsyan

Competitiveness is one of the most broadly used terms when talking about strengths and weaknesses of a firm, a certain sector of economy, a party, region or state. In its broader sense, competitiveness is used to indicate the ability to achieve certain overall outcomes, such as a high standard of living and economic growth. National Competitiveness as one of the cornerstones in evaluating a country’s economy, its potential, is a concept used to define a country's ability to grow, to compete with other countries for human capital, investments, and other resources. Given this importance of the principle, many international organizations, research centres, individual researchers conduct brief researches and analysis, do define, examine competitiveness, and it’s driving factors, ways of achievements and improving a country’s state in the Global Marketplace. Many national, international, governmental and non-governmental organizations assess competitiveness taking different viewpoints and sides of the given phenomenon. These approaches are based on different sets of indicators, thus have different measures and results. In this paper, we purpose to define the term competitiveness give its brief overview, list core components, and examine different approaches and methodologies of assessment.