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Economic competitiveness

[ Summary ]

 

Chapter 2:
Analysing an area’s economic competitiveness

 


How can an area’s economic competitiveness be evaluated? In other words, how can we evaluate the ability of local players to create value added and keep it in their area?

This ability depends on four factors:

  • the ability of local players to develop and promote local skills and know-how, whilst at the same time mastering new technology;

  • their ability to make optimum use of the financial resources available in the area, whether from private or public sources;

  • their ability to create and manage businesses and to organise not only each business internally but also the business community as a whole;

  • their ability to enter lucrative markets that yield economic value-added.

The above factors correspond to four of the eight components of an area’s capital, presented in part one of this series, dealing with “Territorial Competitiveness”.

We propose four different levels of analysis for evaluating the impact of these components on the local players’ ability to create value added and keep it in their area:

  • analysis of existing assets;
  • analysis of practices for developing these assets;
  • analysis of organisational systems;
  • analysis of the values underpinning these organisational systems.


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