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.
performance capacity
'Leistungsfähigkeit' and 'Wettbewerbsfähigkeit' both describe a kind of ability to succeed. 'Leistungsfähigkeit' generally means how well someone or something can complete a task. This can also be a machine, a person, or a team. 'Wettbewerbsfähigkeit', on the other hand, means how well someone or a company can hold their own compared with others, especially in the market. The words can be confusing because high performance capacity often helps someone be competitive. But 'Wettbewerbsfähigkeit' always requires a comparison with competitors.
Durch bessere Qualität will die Firma ihre Wettbewerbsfähigkeit stärken.
The company wants to strengthen its competitiveness through better quality.
Bei großer Hitze sinkt die Leistungsfähigkeit vieler Menschen.
In extreme heat, many people's performance capacity decreases.