Pillar Of Competitiveness

1941 Words 8 Pages
Economic growth is a priority for nations around the globe. Nations are trying to increase the amount of goods and services produced per head of the population over a period of time. There are two major key components in order for economic growth to take place. These key components are innovation and creativity. Nations as well as organizations must always look for ways to stay ahead since there is always a competitive market. One is aware that resources are scarce. With this in mind, companies must be creative in order to be successful and stay a competitive business.

Question No. 1
Society wants the newest goods and services and as a consequence organizations as well as nations around the globe are fighting to stay competitive.
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This pillar focuses on the nation’s public health and the quality of basic education. Every nation must have a healthy labor force in order for nations to have an economic growth.
Higher education and training is the fifth pillar. This pillar focuses on the quality and quantity of higher education and the availability of on-the-job training. Vocational education is extremely important to the workforce. In addition, today’s global economy requires nations to cultivate groups of well educated workers.
Goods market efficiency is the sixth pillar of competitiveness. This pillar emphases on the aspects that drive the strength of domestic and foreign competition, and demand conditions. It is extremely vital for a nation to be competent in order to supply the right products and services.
The seventh pillar of competitiveness is labor market efficiency. The efficiency and flexibility of the labor market are critical for ensuring that workers are allocated to their most effective use in the economy. (World Economic Forum
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In 2014 the company launched its first “zero water” plant in Mexico making this an extraordinary technological initiative. A “zero water” technology means that the factory will not use any freshwater for operations purposes, instead it will extract all the water it needs from dairy products. The company will be transforming the factory in California into a “zero water” plant by the end of 2016. (nestle.com) The organization believes that investing in these types of technology will prepared them for the future; they believe the next world problem will not be oil, but water. On Nestle’s webpage states that “Globally Nestle has already cut its total water withdrawal in absolute terms by almost one-third over the past 10 years, and has publicly committed to do more.”(nestle.com) This is one of the strongest ways that an organization can stay innovative and

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