What's Competitive Dynamics Theory?5 answersCompetitive Dynamics Theory encompasses the study of competitive interactions among firms, focusing on strategic behaviors, market entry timing, and competitive results. It delves into the evolution of innovative decisions within high-tech firms, highlighting the impact of competitive dynamics on sustainable competitive advantages. The theory contrasts classical and neoclassical views of competition, emphasizing the dynamic process of rivalry for market share. Additionally, it explores the fusion of Eastern and Western philosophies to enhance the understanding of competitive dynamics, drawing on ancient Eastern concepts to shed new light on contemporary management strategies. Despite originating in the 1980s abroad, Chinese researchers have recently delved into dynamic competition theory, focusing on attacks, counterattacks, and future research directions.
What is the relationship between market development and competitiveness?5 answersMarket development and competitiveness are closely related. A well-developed financial market can contribute to a country's competitiveness by improving the efficiency of financing decisions and resource allocation, leading to economic growth. The development of stock markets, in particular, plays a significant role in reducing equity risk premium (ERP) and encouraging equity financing. Countries with more competitive stock markets tend to have a higher number of listed companies, indicating increased stock market competitiveness. On the other hand, low-ranked countries in terms of market potential index (MPI) are associated with increasing ERP. The duration of stock market development also affects ERP, with relatively competitive stock markets taking 2-6 years for stock market development indicators to have a significant effect on ERP. Therefore, stock market development and competitiveness are interrelated, with stock market competitiveness being a key factor in reducing ERP and promoting equity financing.
How do individual-based, spatially explicit models of competition compare with other approaches to modeling competitive coexistence?5 answersIndividual-based, spatially explicit models of competition offer a more realistic representation of competitive coexistence compared to other approaches. These models take into account the spatial structure of ecological communities and the relative spatial locations of individual organisms, which is crucial for accurately calculating competition between individuals. By incorporating spatial heterogeneity and allowing for the formation of small spatial refuges, these models promote the maintenance of coexistence. Additionally, spatially explicit models can capture the effects of long-range competition, creating spatial patterns of population densities that provide spatial niches for weaker competitors to establish and persist. These models also demonstrate that clustering patterns of competitive dominance can occur not only locally but also across increasing spatial scales. Overall, individual-based, spatially explicit models provide a more comprehensive understanding of competitive coexistence in ecological communities.
Which mathematical models are the most competitive?5 answersMathematical models that are the most competitive include spatial models for facility location, marketing models for net revenue optimization, flow models for chemical transport in soils, and models for anion competition in adsorption. These models address different competitive scenarios and variables, such as the location of facilities, promotional efforts, market potential, chemical flow, and anion adsorption. The spatial models consider the relocation of facilities and the convergence towards predictable patterns. The marketing models extend previous work by incorporating multiple competitors and controllable variables. The flow models generalize convective-dispersive-adsorptive flow models to competitive multispecies systems. The models for anion competition in adsorption evaluate concentration variations due to competitive interactions between anions in binary mixtures. These mathematical models provide insights into competitive dynamics and can be used to optimize decision-making in various domains.
What is competitive advantange?4 answersA competitive advantage is an attribute or characteristic that allows an organization to outperform its competitors. It can be achieved through various means such as offering lower prices, providing greater benefits, having access to unique resources, skilled labor, geographic location, high entry barriers, or new technology. A sustainable competitive advantage is something that a company does better than its competitors for a long period, allowing it to stand out in the market and rise above competitors. Strategic alliances can also contribute to competitive advantage by increasing competitiveness through the creation of unique, rare, and valuable products. For small, open economies, competitive advantage is crucial for domestic enterprises to sell and compete on the global market, leading to increased exports, higher growth, improved living standards, and long-term prosperity.
What are the theories about Competitiveness?5 answersCompetitiveness is a complex concept with various theories and definitions. The literature suggests that there is no universally accepted approach to define and measure competitiveness. Different theories and approaches exist at both micro and macro levels, and the concept has evolved over time. The lack of a common definition hampers the measurement and comparison of competitiveness. Composite indicators are suggested as a way to capture the complexity of competitiveness. The empirical research on competitiveness faces challenges due to the imperfect comparability of results across studies using different variables. Despite its importance, competitiveness remains vague and ambiguous, with many open questions regarding its definition, factors, and practical approaches. The focus of research on competitiveness has been on the manufacturing and related sectors, with a review of frameworks, models, and competitiveness indices.