competitiveness
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competitiveness
The ability of a company, economy, or person to hold their own successfully against competitors and survive in the market. It is determined by factors such as price, quality, innovation, and efficiency.
Durch die Modernisierung der Produktion konnte das Unternehmen seine Wettbewerbsfähigkeit deutlich steigern.
By modernizing production, the company was able to significantly increase its competitiveness.
This long word can be broken down easily: it consists of 'Wettbewerb' (competition) and 'Fähigkeit' (ability). So it describes the 'ability' to succeed in 'competition'.
Innovation ist der Schlüssel zur Wettbewerbsfähigkeit.
Innovation is the key to competitiveness.
'Wettbewerbsfähigkeit' (competitiveness) is often combined with verbs that express change. Common formulations are to 'Wettbewerbsfähigkeit steigern' (increase competitiveness), 'verbessern' (improve it), 'stärken' (strengthen it), or 'sichern' (secure it).
Die Regierung will die Wettbewerbsfähigkeit der heimischen Wirtschaft stärken.
The government wants to strengthen the competitiveness of the domestic economy.
This word belongs to the technical language of business and politics. It is used when talking about the success of companies or entire economies in the global or local market.
In der Debatte ging es um die internationale Wettbewerbsfähigkeit des Standorts Deutschland.
The debate was about the international competitiveness of Germany as a business location.
