The Competitive Market Map as the Basis for an Evaluation of the Competitiveness of the Slovak Republic on an International Scale

Abstract

This research paper is focused on the competitive market map as the key tool for classifying enterprises (or countries) in terms of their shares and market positions, as well as on the competitiveness of the Slovak Republic at the international level through the GCI index. This article has three main sections, with first concentrating on a literature review of the issue of competitiveness as the crucial term in this paper. The second main part deals with the competitive market map, in which numerous equations can be found to aid in understanding the problem of competition as a whole. This part also contains a section on the matrix compilation of the competitive market map. The third main section of the article deals with competitiveness measurement in the global world with the emphasis on the Slovak Republic. Here an evaluation of countries through the Global competitiveness index as well as a SWOT analysis of enterprise competitiveness in the Slovak Republic is presented. The Slovak position competitiveness ranking of 41st shows an improvement over previous years, although several challenging issues remain to be resolved by the national government in the near future. The main goal of this article is to evaluate the competitiveness of Slovak Republic on the international scale based on the competitive market map, a tool which is used as the basis for an evaluation of the competitive position of a particular firm as well as that of a particular nation.

Business risk management in the context of small and medium-sized enterprises

“…Market risk is determined by a number of causes focused on the overall level of market competitiveness (Malega et al, 2019). Market risk can be defined as the strategic risk of SMEs which consists in the long-term retention of the existing customers and in the acquisition and retention of new customers and in the production of new products or delivery of new services (Rowland et al, 2019).…”

The Influence of Some Factors of Competitiveness on Business Risks

“…The state should play an important role in this process and help SMEs find new markets, help prepare a marketing strategy for new markets and educate entrepreneurs in international trade. Another proposal to increase enterprise competitiveness is offered by Malega et al (2019). According to the authors, significant factors that can increase competitiveness at the enterprise level include the application of modern scientific methods in management and marketing, which will enable better work organization, more successful implementation of innovation, the higher performance of employees and ultimately better care of human capital.…”

The New Model of the Engineering Education Using Digitalization and Innovative Methods

“…The application of forecasting in education is an instrument for the quality level increases of education and using new forms of information technology what is a requirement of the information society [13]. Knowledge management is a very important approach in terms of achieving the required level of education quality and quality of performance indicators as instruments for increasing the competitiveness at universities [14]. The information we obtain in the educational process needs to be collected, recorded, analysed, evaluated, archived, and continuously used for effective management and decision-making of the educational process.…”